Supporting A U.S. $2 Coin

Hey,

I'm curious to know who on these forums, thinks we should have a $2 coin in the U.S.

I also wanted to ask the question, is it worth the efforts to lobby for a U.S. $2 coin, even if the government does not phase out the paper $2 bill?

Maybe they should try phasing out the $2 bill, which almost no one really uses, first, and see their reactions to no more paper $2s, then if the reaction is not so bad, maybe they could work on phasing out the paper $1 bill as well. :hail:

So, should I lobby and write letters to Congress, the Mint, the Bureua of Engraving & Printing and the Treasury, and see what they think? Is it worth it? And how would I lobby to get the government to phase out $1 and $2 bills for coins? I know that there are other lobbyists WAY more powerful than me, that are trying to get $1 bills phased out, such as the vending industry, but I just thought that maybe I could add some fuel to the fire. :devil:

I'm obviously not going to get redesigned $1 and $2 bills, nor new halves and get halves to circulate once more. However, if we Americans ever get a $2 coin, and vending and self checkout companies have to upgrade the way they build their coin acceptors and dispensers to accept and dispense $2 coins as needed, would that be a good time to write letters to, or call these industries and say "Hey, look. You are completely redesigning your machines's design to accept and dispense $2 coins, so, could you please also modify the macines's design to accept and dispense halves as well?" I don't think it would be that big of a deal to add one more coin to the machines's acceptors and dispensers if they are redesigning the desgn to take one new coin.

 

Log in or Sign up to hide this ad.

I've given a lot of though to it, I think its a good idea.

 

I think it would be a good idea i got this 2 dollar bill at the bank about 5 weeks ago:

 

Hunt1,

I actually got about $20 worth of red seal $2 bills
from my credit union, and sold a couple to a couple
of people who wanted one, and boy are these babies in
AWESOME shape. I might have been able to get more,
had I craned my lazy ass out of bed to go back to the
credit union to see if they had any more, as they did have
more $2s that time I got the red seals, but I don't know if
there were any more red seals, and the time I was there, I
did not have any more money to buy more $2s.

 

they're neato arent they?

 

Good idea, get rid of the two dollar bill, make a two dollar coin, and to make it non partisan put an allegorical figure of LIBERTY on it, rather than some politico who wether they were more or less good or bad, just reinforces the political personality cults.

I would not mind if they did this in a copper version of one of the dollar pattern coins.

 

Let's start with getting the $1 coin circulating (yes, by eliminating the $1 bill).
Then bring all those $2 bills out of the Federal Reserves (or wherever they're hiding).
I think they'll circulate very well with no $1 bill.

THEN down the line 10-20 years we can take a shot at a $2 coin.

 

That is my thought exactly!

 

two dollar coin in modern America? Silliest idea since a one dollar coin.

 

Well, people have been saying that "It would take many YEARS of the Mint pumping out $1 coins BEFORE they can phase out the $1 bill" so, wouldn't issuing a $2 coin and starting pumping those out as well, cut the time needed to mint the required ammount of $1 coins needed, in order to phase the $1 bill out quicker?

 

Baby steps....

 

It would be interesting to see this happen - if it ever happens.

 

I am with Silvermonger, only imagine he said it more diplomatically!

We are all looking in the wrong direction here.

K.O. the Fed, put us back on copper, silver, gold.
On average, with the gold standard and NO Fed, the value of money grew in the US.
Since the Fed, value of money has NEVER gone up.

Inflation is a very insidious hidden tax, and result of doing these things to devalue our money.
It hurts the people worse than any tax, and is not seen at all.
The lower a person's income, the more their money is devalued by the time it gets to their wallet.

 

With this logic we should lobby for the two cent piece as well......

 

Although I love US coins, I feel it would be as much if not even more of a financial mistake for the US government than the Presidential coins.

 

Green, ratio, and silvermonger uttered my sentiments previously...

 

Hey, as long as it's made of copper...



J/K!

 

If it were up to me, I'd skip the $2 coin and make a $5 coin.

 

I can agree with that. I am using the Saca/NA coins from the US Mint with the direct shipping and am getting a positive response from the recipients of the $1 coins. I'm on my 2nd $250 batch.

Bruce

 

And people who think that are wrong. The BEP prints about 9 billion dollar bills a year. This is why the naysayers believe it would take years of coin production. The thing is between 50 to 75% of all of the dollar bills printed each year are to replace worn out notes. So while they are printing 9 billion thare are only about 5 to 6 billion in actual circulation at any time. We have already produced some 2.5 billion small dollars that won't wear out for thirty years. It would only take about two more years to produce enough dollar coins to replace the actual number of circulating dollar notes. At which point production would drop considerably.

It also fails o take into account that when the dollar note is discontinued, the production of the two dollar note would be ramped up. This would also replace a lot of those dollar notes. Possibly enough that only one more year of heavy production of dollar coins would be sufficient. Remember right now most every transaction requires from one to four dollar bills. With the dollar coin and two dollar notes you never need more than one dollar coin per transaction. and never more than two notes. So if they stopped the ones, I think the countries coin and currency supply would be satisfactory within one year. And then production would decline even further.

So drop the one, get people used to the dollar coin and the Two, then in a few years we can look at dropping the two for a two dollar coin which will save even more on production costs. Once again thei is how every other country has done it and it worked everywhere else.