2011 Federal Reserve New Currency Budget

According to the Federal Reserve Report they just released it said that they have enough supply of $2 bills to make it through this fiscal year of 2011 but when it gets to Fiscal year 2012 it said that they will probably based on public demand have to print more $2 bills so figure between October and December of this year more $2 bills will be printed.

If everyone starts using the $2 bill it will save taxpayer money by the BEP not having to print as many $1 bills.

 

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This is something I have been thinking about for almost two decades. Why not redesign the $2 bill to match the colorized versions of the $5 and up, just to sort of refresh the denomination then get vendors to reprogram their machines to read and accept $2 bills. There IS a slot in cash registers for $2 bills. Cash drawers were meant to be set up , $1, $2, $5, $10, $20.

Likewise, we should also be using the half dollar coin. This would save money by cutting down on how many quarters the government has to mint. The half should have some kind of program going similar to the dollar coin and quarter. Think of all of the detail you could put on a coin that size. Vendor should also add a coin tube for the half. Also, I really do think my "Famous Dogs Half Dollar Coin Act" would be perfect for this denomination, because there are a lot of people out there who love dogs.

Cash registers also have a slot for halves. 1c, 5c, 10c, 25c, and 50c.

 

If I ever got any $2 bills in change, I would spend them. I'm not going to go out of my way to order them from my bank at a cost to myself just to circulate them, however.
Guy

 

I wonder if a new Series will be issued, or if they will continue with Series 2003 A?

 

I think it will be 2009

 

I have always thought that the gov should eliminate the 50 cent piece and the dollar bill - use the 2 dollar bill and dollar coin - then eventually eliminate the 2 dollar bill as well - quarters are well used. Dimes are another looser...

JMHO

 

I think it would be nice if they made new $2 bills for circulation, and maybe some halves. They haven't been put out in a little while right?

 

If they ever do eliminate the $1 and $2 bills, I really hope they authorize and issue new $2 coins, like in Canada, but I disagree on getting rid of the half. The half has a more justifiable reason to remain circulating than the penny does. In other words, the cent should be eliminated long before they ever even think about eliminating the half. After all, you can still buy things for 50 cents, and all you can buy for one cent is a short kiddie horsey ride at the grocery store. (-;

 

In order to make $2 bills not rare people would have to start paying for everything in $2 bills which I already do and I get some weird reactions from some people but that comes with spending them which I do not mind so I am glad they are printing more.

 

I love the coins and bills from a collectors standpoint but if I am being realistic I would do the following.
Penny/cent, goodbye.
half dollar, gone with the penny.
Dollar coin, keep it, it will be used for subway/change machine.
Dollar bill, keep it, I don't really want a pocket full of dollar coins.
$2 bill, gone.

My reasoning for the penny is that the cost is so high it doesn't make sense (or cents).
I can't remember ever getting a half dollar or a $2 bill in change outside of a coin store, they just are not used.

 

Behold, your next $2 bill!

 

I haven't formally documented anything, but I've been sorting the change received from purchases for some time now. It seems that I receive far more pennies and quarters than nickels and dimes. I think statistically it would make sense because the quarters do the heavy lifting in change and the pennies fill in the bottom.

With the help of Google, I found this article to validate my observations: http://www.urticator.net/essay/6/648.html

Basically, it indicates that one will receive an average of:

• 2 pennies
• 1.5 quarters
• 0.8 dimes
• 0.4 nickels

for an average of 4.7 coins per transaction.

 

Some people on Where's George? were talking about eliminating $10 and $50 bills and just having $5s, $20s and $100s ($1s would be coins, and no $2 coin) and one person mentioned to issue $200 bills and reissue the $1,000 and $10,000 bills, but not the $500 or $5,000, or issue a $2,000 bill, because paying attetion to all of the different security features on all of those denominations would be too confusing. I think that $200 bills are a good idea, but without $2, $10, $50, $500, $2,000 and $5,000 bills, if they ever went to high denominations again and if the $2 starts circulating more, without those few denominations to fill in the gaps, you would just be carrying too many bills in your wallet, which I find very inconvenient and annoying, which is why I want new $200, $500 and $1,000 bills, and the $2 bill to circulate widely. Less coins in the pocket is also why I want the half to circulate.

 

+1

 

Dear Instructors,

As you two take pretty poorly to humor when it comes at your expen$e throughout these forums, when you are dishing some out, at least try to get your President's name correct in your comedic-redesign of our next $2 notes and do go the extra mile using an official engraved portrait of the President.

For your edification:



Available for purchase at money.gov :thumb:

 

Penny elimination sounds good, but will not fly until they do away with sales taxes (and penny slot machines - LOL)

 

Is that George Jefferson on that deuce?

 

Good God help us all!

 

Apparently it's Barack Hussein Jefferson, but coinmaster1's joke was lost on me too...

 

For the most part, I agree. The pennies, nickles and half dollars can go away; they are a useless fraction. Keep the dollar coin. Drop the one, two and fifty dollar bills. That leaves us with dime, quarter and dollar coins, and five, ten, twenty, and one hundred dollar bills. that fills all gaps nicely and does away will all that useless change that I have to roll and take to the bank (I refuse to care a pound of change everywhere I go).