QOTW: Why do people hate the dollar coin?

Question of the Week #2
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Every Saturday I will post another question for collectors to ponder.


Why do people hate the dollar coin?




I could never understand why people don't like the dollar coin. I lived in Italy for 2.5 years when I was in the Navy and I used the $1 & $2 coins everyday and I never had a problem doing so. I think a lot of people are just afraid of change. ​

 

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Beats the heck out o' me Shatzy. I like the convenience of reaching into my pocket and pulling out a dollar coin for small purchases but oh the looks you recieve. Guess we'll never gain full acceptance of the dollar coin till we dump the paper one....

 

I just guess that we are a traditional bunch who haven't used a dollar coin in ages.

 

I hear a lot of people that say the coins weigh to much but look in your wallet how many dollar bills do you have.

I used to go to the bar with $2 coins in my pocket and buy tap beer. The $2 coin was the perfect coin to have in your pocket IMO.

 

The thing you hear often is it's too close to the quarter in size. Sacagawea's different color didn't seem to solve it. As a collector, I am always scheming ways to get dollar coins in circulation. I have found that you can get them in change at transit stations like bus or rail stations around here (Jersey).

I do think the Presidential dollar designs are quite poor. Almost cartoonish.

 

People I know didn't grow up using a $1 coin, they used a $1 bill.
Americans use the $1 bill in everyday life, and why should anybody have to go out of their comfort zone using a $1 coin? I can't put $1 coins in my wallet, and a lot of times when I sit down, my change just falls out.
Another thing about the $1 coin is that it is just confusing to people who are not involved in numismatics, my dad thought he was going to make me rich when he got some SACS in change one time, and another time my mom wouldn't accept a SAC dollar at a garage sale because she thought it was a peso.
Bottom line is this, more people are more comfortable with using the $1 bill, they are more familiar with it, it can go into a wallet easy, and I don't think it would get lost as easy as a dollar coin would, or any coin for that matter.
Do I hate the dollar coin? No. Do I use the dollar coin for my purchases? No. Do I intend on it? Maybe, if I have one with me during a small purchase.

 

gentlemens clubs

 

I love dollar coins, heck, I'd use Ikes if they circulated. Ikes make a dollar feel like a substantial thing.

 

I use dollar coins quite a bit, I think people think they are rare so they snatch them up and save them when they get them. Plus I do not think cash register tills have a space for them.

 

For me, I like them, but don't use them very often. Too many and they weigh down the pockets too much and they jingle too much as well.

A wad of $1 or $2 bills is light and makes no sound... as an amateur ninja I need to be stealthy.

 

For the most part, people don't hate the dollar coin. They don't care one way or the other. It is a non-issue for most folks.

 

Now THAT would be interesting! LOL


NOW.

Although not a fan of dollar coins there are a few reasons.

For starters people hoard them because they are not informed. I see this at the shop on a VERY regular basis. People come in to sell coins and they bring in Sacagaweas and Presidentials. Some are absolutely convinced there is actually gold in these dollars.

Next is a point I've brought up in the past. Where does a cashier put these? Not really a slot for them any more than there is a slot for a $2 note (another "rarity" that is hoarded).

Finally, in order to make them really circulate we'd have to get rid of the $1 note. As a paper money guy I'd hate to see this but it's the only way it will work.

I could go on but I'm getting tired. Bottom line is we haven't had a circulating dollar coin in quite some time. They're minted, they're "rare" therefore they don't circulate. Warped logic but true.

 

Most cash registers actually do have a slot for them (or halves). Just seems that is the spot most folks put their extra rolls of the other coins instead.

 

Use coins, save trees

We here in Canada only use loonies ($1 coin) and toonies ($2 coin). It works for us, but I would prefer dollar and two dollar bills like in the past.

 

Ike dollars make great throwing stars! I too am an amature ninja. Actually blow darted a fly to the wall on 2 occasions from >20 feet away.

 

I posted this as a thread, but was just informed by a bank president that they got a call from the mint this week and they are starting a ten yr. phase out of the one dollar bill. this should make the use of dollar coins a lot more prominent!!!

 

Having lived through the change from paper notes to coinage it is quite painless LOL when the UK went decimal we got rid of the Ten shilling note (1928-1969) and introduced the 50p coin a lot of people said it would never work but we still use it today :smile Then the £1 note (Withdrawn 1988) was removed from circulation and replaced with the £1 coin again screams of horror but we still use it everyday with no ill effects and now we have a £2 coin in circulation
Even in America I cant realy see what the problem is :kewl:

 

What, Canadian ones? The US does not have $2 coins, and Italy does not have dollar coins at all ...

Actually it makes sense to me to replace a note with a coin, and then take the corresponding note out of circulation, or at least stop producing it. (See the UK£1 and Canada $1+2 for example.) Another occasion would be if you replace an old currency with a new one (e.g. Turkey: old lira -> new lira). In the euro area that was a little more complicated as several different "setups" had to be combined somehow. In Germany, Spain and the Netherlands, for example, the €1 and €2 coins were perfectly accepted right away; in Italy that took a while.

None of this happened in the US though. The dollar notes, even low denomination bills, are still made in huge quantities as far as I know. Don't think there is any hatred involved - it's rather a mix of inertia and what one is used to.

Christian

 

We have discussed this before. It is time we return the favor and give the exotic dancers a raise, and start using $2 bills. Eliminate the $1 bill and the $1 coin will be a huge success.

 

here in australia we dumped the $1 & $2 notes some years ago in exchange for coins (thank god we did as i'm a detectorist), there was some talk of doing the same for the $5 notes, unfortunately it didn't happen, now all the bank notes are made of polymer ie. plastic. i believe the reason for doing away with the paper bank notes was the very short life of the notes as against coins (months as against years). since the $1 & $2 coins have been in circulation i have found 10,800 x $1 coins and 13,084 x $2 coins up to last month, that's in about 26 years so that's the reason i like them. mike.