Talk of getting rid of the paper dollar in lieu of the dollar coin

CNBC has been running a story all day that there is "talk" of getting rid of the paper dollar and replace it with the dollar coin.

Apparently it will save the U.S. millions/billions because although the coins are slightly more expensive to produce, they last 30 years vs. 18 months for the paper dollar

I wouldn't mind this change so much if they actually produced a dollar coin that was attractive. Maybe bring back the old Peace Dollar design but in a smaller Susan B Anthony dollar size. I hate the design of the Presidential Dollars. I didnt mind the Saga Dollar coin before they messed with the reverse and starting putting the date on the edge.

I guess the bad thing about this idea ... is paper dollars are a lot lighter to carry around than a bunch of coins.

 

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Yeah, good luck making that change, even though Canada has done it successfully. That same proposal has been around at least since the SBA's. but the paper industry lobbies against it. Wouldn't want to see corporate profits hurt, even though it benefits the taxpayers.

 

What will the strippers do? Have a long cloth tube velcroed to their legs...

 

Here in Canada, we've had the one and two dollar coins for a while. One of the benefits is when metal detecting, there's nothing like finding a 10 or 20 dollar pocket spill!

 

Australia manages fine with $1 and $2 coins as well.

 

I think for it to be successful they're going to have to make $10 and $20 coins as well, since nobody wants to lug around hundreds of coins all day

 

So what to the canadian and australian strippers do? My guess is they just get tipped a lot less.

 

You think they don;t have strippers in Canada? What do they do there?

 

Huh?

You always walk around with "hundreds" of dollars in your pocket?

 

Shoot you if you tip less than $5.

 

<-----keeps a grand on hand.

 

Yeah, I actually always have around $300 (even though that is all of my money XD), but I think its just easier to use and more widely accepted

 

Guess I'm just a throwback to another generation. I always walk around with a ton o' change in my pocket. It don't weigh me down and I like giving exact change at the checkout (despite the odd looks ). A few dollar coins added to what I'm already carryin' wouldn't bother me a bit.....

 

I used to like to have exact change, but now I'm excited to search through it when I get more! Haha

 

Since you really can't buy much with a single dollar, it would might work to use a dollar coin as a replacement for the paper dollar. Maybe have a dollar coin and two-dollar coin, and make the first denomination in currency a Five.

 

If they really want to save taxpayers money the should get rid on the cent at the same time.

 

at least we could pelt the ugly strippers with the dollar coins and hopefully get them off the stage faster.

 

They get $5+ tips, or dollar, $2 coins thrown at them? I didn't visit a strip club when I was abroad. Any kind of denominational shift would require a change in how taxes are added when you are buying something, and they are not built into the price of an item.

 

Yeah, anything less than a dollar is pretty useless. Let's get rid of all the fractional coins and make the dollar our lowest denomination.

 

Oh, they DO have strippers in Au Canada....and they LOVE to see dead presidents!