Replace the paper dollar with coin article

I'm not sure what do say, I'll admit that. I just didn't know so many people opposed the paper one dollar bill. I thought more people liked it. But heck, if majority of the country says rid of it, then "off with Washingtons head!". If everyone is okay and comfortable with using the coin and $2 bills, then lets finish off the paper one dollar bill once and forever...

 

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You guys have got to get over that STUPID "stripper" issue with the $1 bill elimination issue. Those clubs are for perverts and should all be banned. I don't currently have a girlfriend, but if I ever decide to settle down and get one, I'm going to get her to advocate allowing women to go topless in public in my state, just so that I can help kill the stripper industry here and destroy a stupid law. (Ever since I was a five year old kid I thought it was stupid that girls had to cover their chests while men did not, and I don't believe it possible for a five year old kid to be a pervert. Call me crazy, but I don't even think a five year old would even know what a pervert is). Women in some states, such as New York have fought to legalize women going topless in public like men and have won, based on 14th Ammendment arguments that state "Equal protection" between men and women. And hey, if all states did this, eventually all of the perverts out there can get their stripper fix for FREE! Oh, and just for your information, I have read that, up until the 1930s MEN were NOT supposed to go topless, but so many men started taking off their shirts in public, that the courts could not keep up with the cases, so they threw them all out and legalized topless men in public. I only wish that women would have followed in that suit with the men and started taking their shirts off in the 1920s/1930s when there were not so many sex predators out there, and by now, no man would have been giving a topless woman a second glance. But now, women going topless could be a bit more dangerous for a woman these days. But that don't mean women should be barred by law from being able to do it.

 

It'll be ok Bud, we can still hold the ones we already have. And they'll increase(slightly)in value from then on.

 

Wait...didn't you just say most Americans want the dollar bill?
I'm confused.
Guy

 

Geez fellas, I will take full responsibility for starting the stripclub nonsense. Really sorry about it. I'm not a proponent of that industry and didn't know why I even brought it up. It's a love hate thing with this paper vs. Coin debacle. In the end if you don't like the coin idea, then just keep using your debit cards for purchases. Maybe its the right time that the government changes its currency model to reflect changing times in commerce.

 

Yeah, but EVEN my brother, who uses a debit card regularly, says that they are talking about charging people to use debit. In other words, "Pay money to use YOUR OWN money" and if they do, he is going back to using money, so like I said, and even my mother and father, who were both the victims of credit fraud and identity theft more than once, my mother said that, with the way some of the H:devil:ll you go through in court cases, it almost seems more worth it to be carrying and possibly risk losing $1,000 bills.

Oh, and kookoox10, I said that the strip club argument was stupid. NOT you.

 

Personally, I enjoy the $1 paper bill and don't want to see it to go away. That's just nostalgia for me as a paper money enthusiast. As for whether the American public would want to see it go away, I can only paraphrase articles that I have read in the past (sorry, don't have them with me for definitive references for my argument) that state no, the American public on a large scale do not want to see the dollar bill replaced with the dollar coin. Here are my reasons behind the argument:

1) The paper dollars are easier to use in most transactions and are easily transported in a money clip or wallet instead of clanging around in one's pocket as change. Most people do not like to have change as it is, so a dollar coin to add to the pennies, nickels, dimes and quarters.
2) To reemphasize the distaste the dollar coin puts in the American public's mouth, Congress has started the debate on repealing the Presidential Dollar coinage Act or Senate Bill 1047 from 2005. This is primarily due to the massive amount of unused dollar coins sitting in bank vaults and other areas. No one is looking for them.
3) The only people who used dollar coins on a large scale since 2005 were those who purchased them from the Mint in order to receive perks on their credit cards. Basically they would purchase them from the Mint for face value and then reap any benefits they received. Other than these transactions, the Mint saw little fanfare after the first year of production.
4) The reason so many Ike dollars and Susan B. Anthony dollars are around are because they saw little use and were not used in everyday commerce like the paper $1 bill. They were considered ugly coins and did not serve a purpose. I only receive them from the USPS when I get change from buying stamps at a kiosk, or if I use the Subway in DC while on vacation. No one else gives the dollar coins (Ike, Susans, Pres.) as change.

These are 4 valid points that I beleive reemphasize the connection Americans have to the dollar bill. While I beleive that the coins are cheaper to produce and last longer, I do not think that anyone in Congress would be crazy enough to see this current discussion into full fruition.

 

Yeah I know...last time I ever try to inject humor in a thread that displays a wide variety of emotional appeal about a popular subject.

 

One final note I think I mentioned here, but I will mention again. I have asked the Buraeu of Engraving & Printing, the Treasury, and the Federal Reserve over the past few months, and they have told me, that, even with the formation of the Dollar Coin Alliance, the $1 bill is in NO danger.

Oh, and one more thing. The article mentioned something about November 23 being some kind of decission date. Does that mean that is when they will decide the $1 bill's fate?

 

Get rid of the paper dollar asap IMO.

 

Keeping the dollar bill is just moronic.

 

Here's a post that'll shoot down anyone that worries about the income of strippers.

No need for ones at a strip club, most have put in ATM's and note changers that dispense deuces.

 

+1.

 

Coming from someone who uses that profile picture... Nice...

 

I'm disgusted with the one dollar bill. They get pretty nasty filthy dirty. I did a fundraiser with my son recently, and after counting out about ten or so, I just felt like grime all over my hands.

Give me the dollar coin any day.

 

Well, I don't like the term "moronic", however, agruments to keep the dollar note don't really make too much sense to me. I mean, how many one dollar bills are in your wallet at any one time? Normally I have three or four max, so a few dollar coins in my pocket doesn't add much weight. I pay a two dollar toll every morning going to work, so I keep a dozen or so in my cup/change holder. I just like using them... and I wouldn't miss paper dollars at all.

 

A dollar coin is just as easy to "use" as a paper bill since most folks do not really care as long as the change received is correct and as long as its spendable at the next store they visit. Receiving a silver bullion slug that has a value of $30 just isn't the same as receiving a ten and a twenty.

As for carrying lots of change? A fairly baseless argument intended to dupe folks that don't or won't give it some rational thought. NOBODY carries "lot's of change" and everybody will swap out change as soon as its convenient. This includes one dollar bills for fives or ten's.

As for the "wallet"? For me its a non-issue since I carry a wallet for my identifying papers ONLY. I haven't carried bills in my wallet since losing it the first time. Bills go in the pocket along with the coins.

Coins sitting in bank vaults has NOTHING to do with whether or not folks "want" or "look" for them and has EVERYTHING to do with what RETAILERS order for making change at the register. Folks could really care less and after a year or so, won't care at all. The thing they really care about is whether or not it will spend when they need to spend it.
Coins in bank vaults represents a choice and the elimination of the dollar bill eliminates the "choice". True, most folks will "choose" the dollar bill over the coin but the coin is still a buck and 10 of them will still get you a ten dollar bill at any bank or store. Eliminate the choice AND save some money, then you eliminate the problems.

This is simply untrue. Yes, there were folks that abused the system but there were lots of folks that actually ordered the rolls and spent them after searching them. Exactly how different is this from ordering a $25 box of cents to go through and then returning them to the bank? For the record, the current circulation cycle of the dollar coin, regardless of how you look at it, is as follows:

1. Receive rolls from the mint.
2. Search the roll.
3. Spend what's left over at the local store.
4. Local Store Returns the coin to the Local Bank.
5. Local Bank returns the coin to the Feds.
6. End of cycle.

Until merchants order the dollar coins AND give them out as change, the only place they'll ever end up is in storage vaults. Given the "choice", merchants will still CHOOSE the dollar bill. Eliminate that CHOICE and merchants will start ordering AND using dollar coins since they are needed for making change.

This is simply untrue. I personally think the Roosevelt is an ugly coin but it does not prevent me from spending it. It also doesn't cause me to turn up my nose at the register and say "Uh, two nickels please because thats one ugly coin which will absolutely ruin me if I carry it in my pocket!" As a matter of fact, ALL the current coinage is ugly unless of course folks think that Abraham Lincoln, Thomas Jefferson and George Washington are actually beautiful? Yes, we're taught that they were great men but beautiful?
The Eisenhowers and Susan B Anthony's did not circulate for the exact same reason that the Morgan and Peace Dollars did not circulate and the exact same reason that the Presidential Dollars are not circulating. MERCHANTS are not and have never used them to make change. Given the "CHOICE", folks and merchants will opt for the bill. It has nothing to do with design or beauty. It has everything to do with "because thats how we've always done it." or "we choose to order dollar bills because of their convenience."

An ideal example of fairly silly arguments that constantly get brought up. Americans have no "connection" with dollar bills anymore than they have or had a "connection" with Morgan Silver Dollars. Which, since we're on the subject of dollar coins, never circulated either. This accounts for the MILLIONS that are out there just waiting to be "collected". Millions upon millions of Uncirculated Morgans. Hmmmm


Look. This country is in a serious financial hole and the sooner that folks own up to that fact and do everything they can to support "saving" money and doing their "fair share" to get us out of this hole, the better off we'll all be.

Continuing to argue about keeping a process in place that can be replaced with something that is better and cheaper is not what I consider "doing your part". If anything at all, it perpetuates the nasty argumentative system that got us here in the first place.

It just does not get any simpler than that.

Will it solve the debt crisis? No. It certainly isn't helping the European Nations BUT...............it's a step in the right direction.

Dr Kegg, I am in no way incinuating that you or any of the other folks are morons or dumb or idiotic. What I am saying is that arguments over continuing to use paper money, which wears out rather quickly, with a medium of exchange which last 30 years or longer is not really being given much thought other than continuing to repeat the politically charged "sky is falling" arguments. A lot of these "arguments" usually illicit an "I never thougth of that" response and the reason for that is because these arguments based on these situations rarely ever happen.

Folks in Europe, Canada, Australia, and other countries have adapted well to the elimination of the One and Two dollar bills all the while facing the same boring arguments which get presented on forums such as this. I don;t see it any differently in this country since we are still capable of learning, adapting and changing.

 

What's that supposed to mean?

 

Replacing paper with a coin makes plenty of sense. It's also true that people don't usually want to carry around chunky coins when paper folds away quietly, more lightly and less losable. There is a lack of demand, some retailers have stated that they tried giving coins as change but people were just not wanting them, or often thought they weren't real. Forcing people to use the coin is of course one option, but not necessarily a popular one, however much rational sense it makes.

Personally, I can go for months without touching a single paper bill or circulating non-collectable coin, or even a check - electronic deposits and all payments go on the card, payed off electronically. I think it's more conceivable for circulating currency to go away before a dollar coin in the US would become as widely used as the paper bill.

 

Everyone complains about Government waste. Well, here is a place where we can eliminate a portion of that waste. It's not the Governments money it is ours! Let's stop wasting it!