Early 2009 Article Suggests New $1 Coin has a Chance at Replacing $1 Bill??

There's nothing like paying in cash, no extra bills rolling in at the end of the month...

 

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In my case, it's just one extra bill -- with a rebate attached (well, credited) to it.

My family and I just got back from a week long vacation. We didn't pay for cash for a single thing. Nothing. My "vacation wallet" had three things in it: a drivers license, a charge card, and a $20 bill. And that's what I had when we came back. Charged the whole thing - gas, tolls, food, lodging, ski rentals, lift tickets, etc. It was not a trivial amount of money. Getting a 1% discount isn't a whole lot, but it's still a 1% discount. It adds up by the end of the year -- easily a couple of hundred bucks.

(Of course, this only works if you pay your bill in full each month. But that's the same limitation as paying cash -- you have to have the $ in your account before you purchase -- although, actually, with credit, it's easier, because if your bill is due after payday, you can charge it before payday, but pay for it after.).

 

Charge, thats an ugly word in my book. I guess I'm too old fachioned, I can't see myself having a good time on credit. You may be doing things just right, but millions of others are abusing plastic and are expecting to be bailed out one way or another...

 

The present US dollar coins have been around for 30 years now,
and still are not being used much.

I showed some president dollar coins to people in a car pool,
two of the four did not recognize them, one asked if they were "real".

 

Bring back fractional notes!

:kewl:

 

Oh yeah, shinplasters for everyone!!!:goofer:

 

Like they say cash is king!!

 

Right! Get rid of all those heavy nickels, dimes, and quarters. That should make all those collectors who don't want change weighing down their pockets happy.

 

Make that 216 years!

So long as you don't try to rent a car.

 

Sorry

The small size dollar is still a failure after 31 years of trying.

(And I think the large size dollar was actually fairly successful from 1840 to 1848. That was the only time when its value and silver content, combined with the lack of Federal paper, or other paper people could have confidence in all came together to make the silver dollar a practical coin.)

 

If you have enough cash you can do anything!!dd:

 

Plastic stinks

Plastic stinks when you try to clean it.

 

Ok. Point taken. So we don't have the dollar coins sitting around ready to replace all the $1 notes out there.

But WHY are we still printing new $1 notes with no plans to stop while we keep saying $1 coins are better because they last far longer, etc? My solution would be to establish a "drop-dead" date in the future where we would discontinue the printing of new $1 notes. That would give the Treasury time to plan winding down printing $1 notes and printing of additional $2 notes as needed and give the US Mint time to mint additional $1 coins. Once the drop-dead date comes, then stop printing $1 notes. As the notes wear out, withdraw them from circulation and replace them with coins. If the notes are not worn out, then reissue them as per current practice. Eventually most of the notes will be withdrawn either by the government and/or collectors.

Then we can have ebay auctions with $1 notes that look like they went through the washing machine 20 times on sale for $300 each.:hammer:

 

It's not that they're still making ones (series 2006, why I dunno), but that they've stopped making fives and tens (there were some $5 star notes made in January, but very few). I guess it's the recession.