$1 US coins, do we need a $2 coin?

although i think coins are better, whatever we do we should keep them from going completely to debit and credit cards. that would give the government too much ability to follow our activities, (which is what they want, more control). there is talk of chipping people too, to which i say "over my dead body", but they will make people do it voluntarily. there is already a cell phone implant out there, and once it catches on, well there you have it.

also a vendor told me that since many credit cards have rewards for using them, that he pays more of a percentage to the credit card company, and that cost will be paid by the consumer soon.

as far as the $2 bills and $1 coins not circulating, they just have to force companies to take them as change to hand out , or, make a deal with one or several huge companies, ie walmart, and mcdonalds, and there you go, they are now in circulation in sufficient quantities that people start using them

bigjpst... no worries.

 

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In 2000 walmart distributed the Sac dollars. I don't remember if they were the only ones, but I seem to remember them making a big deal of it. I still have a couple rolls. So I suppose I am part of the problem:devil:

 

Yeah... they tasked Wal-Mart with promoting the Sac.
It failed miserably and Wal-Mart quietly backed out of the deal.

 

It probably won't take nearly that long to become a "cashless" society. Everything points in that direction as the governing bodies find it so cost effective as do the employers and banking system. I give it 20 years max. Even today, governments no longer issue unemployment checks in many states. A prepaid credit card is issued. The same for rebate checks.

Once cash is removed, police and IRS can track criminal activity and monies subject to taxation. Imagine never filing a tax return again. IRS could just remove what money you owe from your account. Recently, we've seen this done to terrorists and countries we disagree with. It's coming, and soon I think. IMHO

gary

 

If this happens, wait till someone discovers where the "Mother of all Electrical Plugs" is located, and pulls it.

 

need more than a two dollar coin

As long as the paper dollar is still printed, we don't need either the dollar coin or the two dollar coin.

Yet, since that the govt is evaluating coinage during the next two years, I think we can expect some changes to occur, and I do hope that some comprehensive recommendations are made.

If I were making them, here's what I might recommend:

One Cent coin: drop it altogether, or reduce it in size like the euro cent.
Fifty Cent piece: reduce the size and change the design to something user friendly.
One dollar coin: status quo
Two Dollar coin: Begin minting one that is user friendly and easily discernible from the $1 coin

One dollar bill: Stop printing them (end the $2 bill, too)
Five dollar bill: I could see replacing it with a $5 coin like the Swiss.

I'm not sure the nickel, dime or quarter need to be messed with, but I do expect the material might be changed to something less expensive.

So yeah. We do need a two dollar coin.

 

Sounds like fun

 

Another major problem with coins is the cost of handling them incurred by banks. Banks hate coins with a passion and of course they pressure our legislators to get rid of them.

 

i didnt know walmart was distributing the sac. but like levi, i also agree, (and thought of it after previous post) just stop printing the bills and then you have to take that dollar coin as change, or quarters, your choice. also i dont know about all banks, but the bank i go to told me that their change is all from what customers bring in. i would think that once a community has ordered all the coins it needs, they just keep recirculating (for the most part) in that community. instead of ordering more from the mint banks should be checking if other branches or even different banks have overstock on them. send the bank manager over and no shipping. even write off your mileage for use of personal vehicle on your income tax.

still, i think coins would make people spend more, and that would help the economy.

 

I was told at a local branch that they always needed coins for customers. Last month, I bought $100 worth of cents for searching there. Now I wonder if I am searching the same rolls over and over ? I took the plastic tube rolls and wrapped everything in paper. Now I fear I have been wasting a lot of time. Since I pull and save all the copper, I noticed there are fewer copper cents in my searches. Time to change techniques ?

gary

 

gary, do you bring them back to the same bank, or spend the rolls? if you spend the rolls, there is less of a chance they all go back to your bank. if you bring them back to the bank just tell them you want to trade. heres an idea though, put a little unique mark, or use a little kids stamp on all the rolls you have searched. that way if the bank gives them back to you, they are either the same, or someone else went through them. either way they are the no check pile. if they go out to businesses, they usually throw the paper out.

i believe you are in the states? if they do the same as canada, then the mint has been filtering out the copper and nickel for a while, and replacing those coins with the plated steel or zinc ones. i too am finding less and less copper in my pocket, and in rolls im finding somewhere between a quarter to less than half coppers. seems like just five years ago much of my change was still non plated years, now its a rare find in pocket change.

 

Well, a solution that would appease both paper and coin supporters would be to have a drastic, but not complete reduction in the amount of $1 and $2 bills printed. For example: For every 10 $1 bills turns in that are no longer fit for circulation, only 5 would be replaced with bills, the other 5 would be coins. This way coins are forced into circulation due to necessity, but at the same time $1 bills would still be available.

This seems the best option to me when you consider the millions of coins sitting in vaults and storage, not being used. They have been created, so the need to be circulated.

Once done, the public should be accustom and familiar with them. Then the $1 ill can be eliminated, if not printed in very limited numbers. At this point the $2 coin should be introduced and it should have no problem catching on.

 

I hear they have this new thing called the "Metric System" that will soon change our lives also.....

 

If I were king for a day, I would solve it all in one fell swoop:

1. elimiate all $1 and $2 bills
2. Coin $1 and $2 coins, multi sided for visual impaired.
3. Stop coining 50 cents
4. Declare all cents to be worth 5 cents, stop making current nickels, and redesign the copper plated one cent to say 5 cents.
5. Make all cash registers to round to the nearest nickel.

All of the coins would fit into a standard cash register, and all problems solved.

One fell swoop, save billions a year, rationalize our currency. Sure the sheeple would complain for 6 months like they have in every other country that has done this, then they get used to it and life moves on.

I swear this country are such imbeciles I am sure none of this will ever happen, even though everyone whines about our debt yet we waste money on this nonsense.

 

Yeah , I agree making billions of unused dollar coins isn't too bright !

I can still get Ikes for face value, just bought 50 a couple of hours ago for tips.

 

You lost my vote for 'king for a day'!

 

Maybe the one dollar note is contributing to American obesity. We need the extra exercise carrying around those heavy one and two dollar coins.

Swiss


England


Holland


Australia


Canada

 

Y'know, the funny thing that we (I am in the euro area) do not carry lots of heavy coins with us. Of course somebody who uses $1 notes only, for whichever amount, may run into problems if those were replaced by coins. Most people, however, understand and master the concept of using various "metal" and "paper" denominations.

(By the way, Australia did away with those 1 and 2 cent coins about 20 years ago. In the Netherlands the 1 and 2 cent coins are legal tender but not used much because cash totals are usually rounded up/down.)

Christian

 

This can cause problems with vending machines

Most all of them already can, it is programed into them and is simply a matter of selecting the correct settings.

And if they kept the two dollar note you would never need more than one dead POTUS dollar.

 

Re:$2 bills

While they aren't circulating as much as other currency, there are still over 50 million of them being printed each year, and there are over 2 million of them registered with "Where's George?", so someone must be using them.