I have recieved some in change, but only From cashiers that I have trained. I still don,t buy the large coin argument. The most you would ever get in change would be four, and incase anybody forgets the actual size of the dollar coin, lay a quarter on top of one. I would not want to carry a roll around either, but how many one dollar bills do you carry at the same time? To each their own, But it would be nice to see them circulate.
From now on, when I spend a Dollar Coin or a $2, and they ask those "What's the deal with this?" type questions, I'll say that they just came back out and a bunch of other stores are giving them out. Something to think about... I can think of some good reasons to use the coin: (yeah, here we go again): 1) Vending machines: just pop in the coin. No bending the bill, trying to get it in, getting the bill spat back out... 2) Cashier lines: Instead of people unfolding bills, then reaching into their pockets for small change, just reach into your pocket, grab a Sac or two, and your nickels and dimes are right there, too. 2A) Making coin change is easier than bills; just reach in, grab two or three coins, no dealing with bills and counting out bills, sticking together... Some of these are a little exaggerated, but still... :whistle:
I agree crispy. But to make change with dollar coins on a regular basis, they may have to make a bigger section of the till to allow for a bunch of dollar coins.
Dollar coin realities If the Sac and Prez dollars begin to circulate I may have to buy stock in a suspender vendor (what with the pants-falling-down scenario threatening.) But there's little chance that will happen because we still have the paper dollar. Any country that has succeeded in circulating a large denomination coin has first retired their paper equivalent. And it would help lots if the penny were deep-sixed as well (to head off the redesign of all the cash drawers.) Meanwhile the Mint is happy spending a few cents on producing each of its highly promoted dollar coins. Happy in that they then carry these coins on their books at full face value. In other words, the Mint has already made its money in "seniorage", the difference between cost to make and retail value. (Helps offset what they're losing on the production of pennies and now, nickels.) So, when do you think the penny will be eliminated? Maybe after 2009, the centennial of the Lincoln cent?
So let's say they eliminate the cent. So you go into a store and buy a candy bar for example and it comes out to $1.06 after tax. You give the cashier 2 dollar coins. Change is 94 cents right? How do they make change with no cent coins?
The register would automatically round the transaction, they already do this with fractions of cents of sales tax. In this case you would get 95 cents change(you save a penny) Statistically it would be a wash. 40% rounded up, 40% rounded down, 20% would need no rounding.
I understand that and YOU understand that but you would be surprised how many consumers would raise a fuss about it. When sales taxes were a fairly new thing states ended up making tax tokens so people could get their 1/4 of a cent or whatever. Of course one cent was worth much more then but it's the same principle. Personally I don't really care if they eliminate the cent but I just don't see it happening. Maybe going to a much cheaper metal. I guess we'll see in time though.
I have spent many rolls, I HAVE recieved them in change but only a few...I never have more than a few ones on me at any given time anyway so switching to coins wont make my pants sag...I go the 5 or 10 USD route and the ones I might get would be in change...if I do they get spent soon anyway...I think the pres dollars, when it come to actual circulation, is more of sucess than others...most people recognize them when I spend them...and I have circulated them and recieved them in change (as have my parents as I saw one at their house sitting in the change bin). In houston the toll booths give them out as do a few other city run places.
Another indication... I go metal detecting in school yards, playgrounds and parks. Here's my totals for US small dollar coins found. 2002-2 2003-1 2004-3 2005-0 2006-5 2007-10 so far.
1 they arent eliminating the cent ever why would they do that unless they use my genius idea of the 99 cent coin no need for cents anymore 2 they are never making a 99 cent coin
Make that 11. I got another one today. I figured with the new President dollars I might find more this year. Funny thing is only 1 of the 11 was a Prez.
I searched thru $250 worth of halves that the ladies at the local credit union ordered for me. Out of those rolls..... ONE SILVER!!! That is ok, I'm not out any dough really. Now to spend the $224.50 in halves. I went thru about $6 in halves today at work between breakfast and lunch.....cashier loved seeing halves in circulation again and then spent another $3 on tips. Honestly, after carrying $6 in halves in my pocket all day....I never really noticed....at all Any chance three rolls of circulated bicentennial clad halves can bring a premium in the real world (nonebay)? Or are they spenders?
I'd spend them. On RARE occasion my local dealer will call me to see if I have any. He gives 55 cents each only because he has a large order from one of those "we're selling rare bicentennial coins" type places. He's probably gettting 75 cents if he can put together a few thousand so they can sell them at some ridiculous price. Yeah, my dealer is not afraid to make money. Spend them.
my post office gives tham away as a matter of policy I think. Every time I make a cash transaction, I get them and don't mind getting them. I just throw them in the empty 5 gal water jug in my office that is too heavy to move. All copper cents, Sacs, SBA's, and bicentennial coinage goes in there.
