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

Stop printing the dollar notes and the number of twos printed will go WAY up.

 

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Amen to that.

Pzzes me off that all our fat-cat idiot congress talks about is how we need to cut and/or eliminate "entitlements". When I have paid in nearly $400,000 into Social Security and Medicare it for the past 37 years. Excuse me but if I've been paying into it my whole life (nearly half a million dollars), how is it an entitlement? They make it sound like how dare I want something for nothing.

And notice how they never EVER propose to cut their own HUGE and MASSIVE retirement and health benefits (which is a true "entitlement", since they never paid into it at all, it's just given to them when they are elected).

 

I think vending machines should be built and operated to accept our money, not that our money should be built and operated to work in vending machines.

I guess I'm an idealist.

 

I have heard this line of thinking many times before but why would demand for the $2 bill necessarily increase just because $1 bills are no longer printed? One dollar coins would possibly take the place of the $1 bill but those still likely wouldn't circulate like the $1 bill due to being stashed in coin jars. The place to turn to is Canada, when the $1 bill was discontinued did demand for the $2 bill increase? If someone could answer this with facts one way or the other that would be great.

Btw: I personally support discontinuing the production of the $2 bill even once supply runs out with the government stockpiles. They're awkward, cause delays for cashiers, difficult for many to count and just don't circulate hardly at all when compared to $1 and $5 bills.

 

I would go with a three dollar coin

 

Maybe 40 years ago but not today since nearly 90% of the vending machines take dollar coins.

 

Because people DO prefer to used paper over coins and by requesting and using twos it would allow them to still use papaer and minimize the number of dollar coins needed. If they stopped printing dollars and business came to the banks asking for ones, and they are offered all dollar coins, or some dollar coins but mostly twos which do you think they would take? I believe the latter. This would result in a greater demand for twos at the bank, the bank would order more twos, the Fed would order more twos, the BEP would print more twos.

Can't really say and it may not be a good indicator because the two widely circulated in Canada before the introduction of the Loonie and the elimination of the dollar note.

 

But I think that like the €1 and €2 coins, the twoonie circulates widely like the loonie.
I would expect a US $2 coin would co-circulate widely with the $1 coin, and work well together in replacing the $1 note (and $2 note, which doesn't really need replacing since it's already so rarely used).