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Early 2009 Article Suggests New $1 Coin has a Chance at Replacing $1 Bill??
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<p>[QUOTE="mlmummert, post: 806322, member: 21178"]Ok. Point taken. So we don't have the dollar coins sitting around ready to replace all the $1 notes out there.</p><p><br /></p><p>But WHY are we still printing new $1 notes with no plans to stop while we keep saying $1 coins are better because they last far longer, etc? My solution would be to establish a "drop-dead" date in the future where we would discontinue the printing of new $1 notes. That would give the Treasury time to plan winding down printing $1 notes and printing of additional $2 notes as needed and give the US Mint time to mint additional $1 coins. Once the drop-dead date comes, then stop printing $1 notes. As the notes wear out, withdraw them from circulation and replace them with coins. If the notes are not worn out, then reissue them as per current practice. Eventually most of the notes will be withdrawn either by the government and/or collectors.</p><p><br /></p><p>Then we can have ebay auctions with $1 notes that look like they went through the washing machine 20 times on sale for $300 each.:hammer:[/QUOTE]</p><p><br /></p>
[QUOTE="mlmummert, post: 806322, member: 21178"]Ok. Point taken. So we don't have the dollar coins sitting around ready to replace all the $1 notes out there. But WHY are we still printing new $1 notes with no plans to stop while we keep saying $1 coins are better because they last far longer, etc? My solution would be to establish a "drop-dead" date in the future where we would discontinue the printing of new $1 notes. That would give the Treasury time to plan winding down printing $1 notes and printing of additional $2 notes as needed and give the US Mint time to mint additional $1 coins. Once the drop-dead date comes, then stop printing $1 notes. As the notes wear out, withdraw them from circulation and replace them with coins. If the notes are not worn out, then reissue them as per current practice. Eventually most of the notes will be withdrawn either by the government and/or collectors. Then we can have ebay auctions with $1 notes that look like they went through the washing machine 20 times on sale for $300 each.:hammer:[/QUOTE]
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