$1 Bill Elimination Idea On Capital Hill

Discussion in 'Coin Chat' started by Drago the Wolf, Nov 8, 2011.

  1. ctrl

    ctrl Member

    "Eliminate social security and medicare" is not a realistic endeavor. They are extremely popular and beneficial programs for the population. If you want to discuss the economic gain from stopping the programs, you must also consider the drastic negative impact on the people in general, which will necessarily have related impacts on the economy.

    Drop the nickel for a half-dime? Why?

    Going from quarters to fifths would be a hard sell to Americans.

    What benefit is there to this? Why just one decimal, why not two? It's just numbers.

    in sum:
    And in the end, all of these discussions are missing the reality that electronic transactions will be the norm and it won't matter about rounding to 5c or moving decimal points around, or how many coins there are.
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  3. tbudwiser

    tbudwiser Active Member

    "They got rid of it because people didn't use it." Thanks for the info... :yes:

  4. Siwash

    Siwash Senior Member

    Good job, good points!

    Contrary to the guy who drops coins, I think a dollar coin is more comfortable and convenient to use. Ya just pull it outta yer pocket. No more twaddling around with opening a billfold, searching for what you need, sticking the billfold back in yer pants, and then putting change back in your pockets. Heck, it's one pocket, a one billfold, ya don't have to fiddle with.
  5. tbudwiser

    tbudwiser Active Member

    You guys can call me tbud, travis, trav, tbudwiser.... I have so many names I use on here; I just don't know why people have to call me "that guy".

    Anyways, if you are the type of person to not carry much in your pocket, then coins probably would be more user friendly, but if you are like majority of people, you have a set of keys in your pocket, a cell phone (I wouldn't be surprised if you don't have one), a billfold, etc. Try putting a nice big set of keys in your pocket, throwing some dollar coins in too, and getting the coins out. It's such a hassle. You try getting all your coins out of your pocket, but you can't because they are mixed in with the keys and so then you pull your keys out and coins come out too and start flying everywhere! It's happened to me serveral times, but only with pennies, nickles, dimes, and quarters, so I didn't take a huge loss, but I'm sure the consequenses would be much more seveer for $1 coins... I always have lots in my pockets between keys, cell phone, papers, receipts, etc. Oh and not to mention, you might as well have different pockets for different coin denominations too because when you are going for your dollar coins mixed in with a bunch of pennies, nickles, dimes, and quarters (and 50 cent pieces, if that ever happens). It's all just a hassle, for someone like me anyways. So to simply break it down, it depends on what kinds of things you carry in your pocket on your person that can make the dollar coin seem more of a hassle or more user friendly. I think we can all agree though, that majority of Americans carry more stuff in their pockets than not..

    -"that guy"
  6. Drago the Wolf

    Drago the Wolf Junior Member

    Uh, Travis? I think Siwash was calling you "the guy" not that guy. Maybe people should call you "the man" so that, whenever anyone talks about you. We can say Travis? He's THE MAN! Or you the man. LoL

    This is just a joke and nothing meant to offend you, my friend. :)

    Also, I wonder why so many people call halves "fifty cent pieces, or fifty cent coins" instead of half dollars or the more proper term, just half/halves. After all, not too many people call quarters "quarter dollars" but then again, you don't hear people calling dollar coins "wholes" either. At least, I never have. :p
  7. Siwash

    Siwash Senior Member

    I guess I didn't want you point you out so particularly.

    At any rate, I've used both systems, bill and coin, and prefer the buck coin. It's a fast draw for me.
  8. tbudwiser

    tbudwiser Active Member

    Yeah call me THE MAN! :cool: I think this works the best. Seriously.:thumb: None offense taken as long as you start calling me THE MAN! That's the coolest nickname yet and I think I'm going to stick with it. Too bad I can't find a way to change my user name. I just went and checked if I could and I couldn't find out where to change it. Do any of you guys know how? Yes, I'm being dead serious.

    Getting back on track: On the whole coinage issue, I think we should get rid of the penny and leave everything else the way it is. I think pennies are pointless and that they are just a waste of copper, but I think everything else should be left the way it is. I think its unreasonable to use transactions such as $19.99 leaving a penny in change. Any arguments their?

    On the paper dollar/coin dollar issue, once again, America isn't ready for the use of dollar coins, and for the people that are ready: Why don't you just go to the bank and use them? Problem solved. If you all love coin dollars so much, go to the bank and use them, nothing is stopping you from doing so, if you really want to use them so bad and if you really find them SO much more convienent. People who favor the coin can and will still use the coin, reguardless of what happens. People who favor the paper dollar, could get totally burnt, so why would you want to burn and paper dollar lovers?

    -the man
  9. NorthKorea

    NorthKorea Dealer Member is a made up title...

    To address the points in issue:

    1) I didn't advocate for dropping the programs. I was merely responding to the comment about cutting out the dollar bill to save money versus cutting out SocSec/Medicare. Obviously, if you take quotes in context, they make more sense... rather than snipping only the second part.

    2) The reason to drop the nickel for a half-dime has to do with coin sizes. There's no logical reason for the nickel to be worth more than a quarter in metal content. The argument gets extended to the $1 coin. Having the dollar coin be basically the same size as a quarter, and having a nickel be larger than a dime... both make no sense.

    3) I've disagreed with Drago on this point in the past, I believe. So he will have to defend it himself.

    4) I don't understand the point of forced deflation, either. The logistics of currency redemption/reissue are too difficult to really deal with. I sometimes use the argument as a joke.

    5) Electronic transactions will be the norm only if that scenario is allowed to be. Given that the United States still holds broad claims rooted in the Bible, it's unlikely that the govt would go out of its way to push toward a cashless society. Also, just because we know the end game doesn't make the steps between now and then any less important.

    We know that at some point, Earth will become a desolate ball of dust and gas. Water will run-out, carbon chains will create super plants, etc. We know the planet ends at some point, so by your reasoning, all discussions about anything are missing the reality that money won't matter in any form.

    That fact doesn't make the discussion of coinage v banknotes any less important.
  10. ctrl

    ctrl Member

    reductio ad absurdum. That wasn't "my reasoning". My reasoning is, if people have a hard enough time accepting a dollar coin, how is it not a waste of time talking about going from a 5c nickel to a 5c half dime and all these other small changes that will be overshadowed by electronic transactions soon (as in, before earth becomes "a desolate ball of dust and gas").

    I also hardly think any personal interpretation of scripture will hold back society from using less cash (I never said cashless). It's already happened anyway. Electronic bill payments for everything, electronic payments of debit/credit electronic charges, cell phone as payment method... these are bigger challenges to coin usage than the size and metal makeup of the 5c piece.
  11. Drago the Wolf

    Drago the Wolf Junior Member

    Disagreed with me on what?
  12. NorthKorea

    NorthKorea Dealer Member is a made up title...

    20-cent pieces.

    Also, to the other poster of reduction of absurdity, it's not applicable, since your rationale is equally absurd.
  13. ronterry

    ronterry New Member

    I would like to add; Department of Education, Department of Agriculture, TSA, Merge and shrink the Secret Service - BATFE - FBI, get rid of 90% of the Executive branch and cut back pension & payroll, cut back pensions and payroll from the Legislation branch, and completely revamp and limit Welfare!!! Oh I almost forgot the biggest sink hole - KILL the private Federal Reserve.
  14. Conder101

    Conder101 Numismatist

    Actually they have never tried eliminating the dollar bill before. Dollar coins were made but no steps made to eliminate the bill. More coins were made but no steps to eliminate the bill. MORE coins were made and now thirty two years after they started the first real piece of legislation has been introduced to eliminate the bill.

    Uh, actually Europe and Asia copied the US. We were the first country to introduce a small sized coin the same as the base unit paper note. The difference was that Europe, Asia and the other countries went that one last step that made it successful and eliminated the paper note. Should the US have a new motto? "If at first you don't succeed, never try again"?

    I am still amazed at how often the argument comes up about the difficulty it will cause for people want to put money in strippers G-strings!

    Sometimes what the majority of the people want is not the right thing to do. I'm sure if you asked the people they would want cheap gas, free heathcare, free housing, free utilities, and low or no taxes. I guess it's the governments job to give them all those things.

    This will NEVER happen, but it's like with a whining child, sometimes daddy has to say NO, you will do it even if you don't like it.

    ABC did and it went with ditch the dollar bill by three to one. (Yes I know the poll was biased but it tends to show that when informed that it saves money a lot more people are willing to make the switch.)

    THE MAN! Oh yeah, the guy everyone want to stick it to. :)
  15. tbudwiser

    tbudwiser Active Member

    Here's how it is: We the people don't want the coin dollar. We the people aren't going to get the coin dollar. You could sit here and whine about it but majoity of daddie's kids are going to get what majority of daddie's kids are asking for. Look at some of the other posts. There are some really good solid ideas about how we as a nation can save just as much money as we would in 30 years in a day! It's quite obvious that the whole stripper thing is in fact more of a joke and less of a statement to take literal. You make a fine argument about how sometimes what majority of the people want isn't what's right. I think there's a fine line between free housing and being able to use or not use a paper one dollar bill. Do you see where am I going? There's a complete difference between all those examples you used and using paper $1's.

    I'm not so sure what you mean about 'the man everyone wants to stick it to'. Would you care to explain?

  16. Levi

    Levi Member

    As the buying power of the dollar declines, it's just a matter of time until the dollar note is inevitably "changed" :D to the coin. The likelihood of this occurring soon is greater than ever before.
    Complain all you want about being inconvenienced in strip clubs, baggy pool pants, and fast food drive thrus, you can't stop evolution.
  17. Drago the Wolf

    Drago the Wolf Junior Member

    I still think that a polymer redesigned $1 bill and a circulating, redesigned polymer $2 bill would make enough savings to start out for now. I would like to see a dollar coin in a way, but that might further kill the circulation of the half for the few businesses that use halves in their five coin slot till. If you had a circulating dollar coin, you'd have to get rid of the cent to create a space for the half.
  18. ctrl

    ctrl Member

    Dept of Education: $69.9 billion (also: you got rid of federal student aid) = 1.8% of budget
    Dept of Ag: $132.3 billion (congrats, you just killed Crop Insurance, Forest Service, and a number of Safety & Inspection services) = 3.4% of budget
    TSA: $8.1 billion = 0.2% of budget
    Secret Service - BATFE - FBI: $1.8 billion + $1.1 billion + $8 billion = 0.28% of budget

    That's 5.68% of the budget so far, with far-reaching effects. where's my sad-trumpet sound effect?
    Also: that made hundreds of thousands of people unemployed.

    90% of the Executive branch: 90% of: Agriculture • Commerce • Defense • Education • Energy • Health and Human Services • Homeland Security • Housing and Urban Development • Interior • Justice • Labor • State • Transportation • Treasury • Veterans Affairs

    completely revamp and limit Welfare: how exactly? no more assistance for old people?
  19. andyscouse

    andyscouse Collector of Brit stuff

    I try to do so, but often the bank doesn't have any single $1 coins in their drawers, let alone rolls. That being said, when I can get them, I do, and spend them as such ... at least I get a variety of responses when I do use them! They're often surprised to hear my British accent when I explain to them that they're not quarters but dollars. However, I have found that for the most part, after the initial 'look' at the coin(s), vendors simply pop them into their till, no problem.
  20. 19Lyds

    19Lyds Member of the United States of Confusion

    Thanks. I needed the validation that I'm NOT one of the "people" since I DO want the dollar coin.

    I expect this one to pass as it's long overdue.
  21. ctrl

    ctrl Member

    The size of the SBA dollar was too close to a quarter, it confused people.

    The color of the presidential dollar coins leads people to call them "gold dollars", not something you feel like spending.
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