Novermber 23rd: Doomsday For the Dollar Bill?

Honestly I hope they actually get rid of the dollar bill

 

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Dollar bills are filthy; I'm up for a coin any day.

 

Are you sure about the $2 bill? I heard that the Canadian $1 bill was eliminated in 1989, but the Canadian $2 bill was eliminat4ed in 1995 or 1996.

I wish this would happen in the U.S.

The Candian $2 coin is what is called a "bimetallic" coin, I'm guessing, meaning two parts and with two different metals.

Sounds like major savings to me.

Of course. Thats the whole issue. :smile

Say, since you are in Canada, I know there has been talk of a Canadian $5 coin for quite some time, but the Canadian general public oposes that move because they would have to carry too many coins. Do you know the status on that idea? And do you support it? Some people here in the U.S. say "Skip the $2 coin and go right to a $5 coin" Now, while I support a $5 coin, I would opose getting rid of the $2 denomination. I would rather be able to carry $9 in a $5 coin and two $2 coins, or $8 in one $5 coin, one $2 coin and one $1 coin. The proposal in Canada for the $5 coin, as I said, was a bimetallic golden ring around a silver center.

There was also the idea proposed in Canada a few years back, to introduce a Canadian $200 bill to replace their $1,000 bill that they eliminated some time in the late 1990s I believe (supposedly to combat crime, just like some U.S. people claim about the U.S. $500 and up), but so many Canadian retailers oposed it, that the Canadian government scrapped the idea. Supposedly, those retailers did not want to risk getting a counterfeit $200 bill and being out $200 instead of $100 if someone spent two $100 bills and only one bill was counterfeit. Do you, or would you support that idea if it came up again?

 

You people in Canada must be doing something right, in fact, better than we can. My brokerage firm has recommended looking at diversifying some of my capital away from American investment and into your country instead. They predicted a better growth potential in four nations, Canada being one of them. This is the first time to my knowledge, this firm has openly recommended this particular action. Congrats!

 

about time IMHO.

I think keeping and expanding the paper $2 would be a good part of the plan.

the owner of Crane Paper Co is a prime supporter of keeping the $1 bill. no surprise there.

 

I would recommend the same sir. Geographical diversity helps. Nice stable government, close by, all are pluses. The only downside I see is an economy disproportionately tied to natural resources, and a somewhat heavy tax burden. I have been investing in Canada since their dollar was only worth about $.75. I would say Australia and New Zealand have near identical comments, (though not close by )

 

If you build it, they will come!

 

Only because people kept trying to punch it out, as in with a hammer and punch. There were actually very few cases where the center came out easily.

The silly thing is that elimination of the dollar note would actually have very little effect on Crane Paper. Yes the amount of paper for ones would disappear, but the amount of paper needed for twos would skyrocket and almost replace the losses from the ones.

And the Canadian two dollar note was discontinued in 1996.

 

I don't think it will happen ....to much paper gets spread around in the halls of congress