Modern $1 coins just plain suck

Actually, all the mints turned out coins those years, just without mint marks.

 

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I don't think Americans have a problem with the one dollar coins, at least as far as spending them goes. The problem isn't that, it's getting them into circulation to begin with. I'm not going to go out of my way to get a bunch of 1$ coins to go spend. If I don't get them in change, like I do with all the 1$ bills I get, chances are I won't get them at all. If they were the only change to get, they'd be used. How many of us go to the bank and ask for $25 in one dollar bills? I bet not many. Thus, there's the reason they don't circulate well, because they sit at the bank and not at the stores we use.
Guy~

 

$100,000? more like $100,000,000

 

umm.....someone did that already.....Liberty dollars come to mind :hatch:


didnt the ANA just use liberty Dollars as some sort of promotion?

 

Isn't this what our government does, every day?

That is, taking junk metal and calling it money?

 

here's my take. give someone 50 one dollar bills,ask them to hold them in one hand. give the same person 50 one dollar coins and to hold them in the other hand. now ask them which would you like hauling around on your person or in your wallet? me thinks they'll say gimme the bills! (they fit in the wallet better also)

grizz

 

<Looks in right pocket>

7 cents
4 nickels
8 quarters
3 dimes

22 coins total...

Put 25 in each pocket and call it a day......being an admin geek in the hospital, I shudder at the thought of sitting on 150 layers of dollars all day (50 singles in a trifold wallet):goofer:

 

From 1794 to 1805 the dollar coin was undervalued and worth more as metal than as money. So they didn't circulate.

1805 to 1840 there were no dollars to circulate.

1840 to 1848 dollars were struck and the value was such that they could circulate. Did they? I don't know I don't have any contemporary references.

1858 to 1862 dollars were again worth more as metal than money.

1862 - 1874 still worth more as metal plus all coins disappear from circulation plus in 1862 dollar notes were introduced which were more convenient to carry.

1874 coins returned to circulation, but paper was still more convenient to carry.

The paper argument holds from that point forward. So in the 213 period we have had only about eight years when it made economic sense to circulate a dollar coin and when there was no federal paper dollar option. I'm not surprised the dollar coin has been a failure. If we discontinued the dollar note we would be back in that same situation. In that case the dollar coin would probably circulate.

Now make it more realistic, give him 50 dollars in one hand, and 24 twos plus two small dollars in the other and ask him the same question.

Or since most people don't carry 50 dollar bills make it two twenties, a five and five ones in one hand, and two twenties, a five, two twos and a dollar coin in the other. In this case the difference in weight between the two piles is the second is 5 grams heavier. The equivalent of the weight of a nickel. Sounds like a wash to me.

 

Nope I'm not a cashier but did run one for years but haven't now for years.
That all sounds so simple to you - just deal with it. They do and I did. Never had a problem handling money you should see my currency collection sometime as well as the stray coin I picked up.

The bottom line on a cash register is that they can only accomodate so much coinage. 10 halves will eat up your spare slot. Shall we add 25 dollars in coin?
Solution is simple of course. Redesign EVERY cash register in the U.S. to accomodate them. Oh, but wait so many retail stores are laid out with exact dimensions these days that we'll have to change that as well.
Let's see - brand new registers and and cosmetic work on stores themselves. Wonder if that would cost the retailer any money?
Wonder who would pay for it in the long run?

Simple isn't it?

 

I just dumped two uncirculated rolls into the coin machine at my bank for cash back.
When the G. Washington dollar first came out I got 8 rolls. But I see no point in hoarding them now. They just sat around gaining no interest and being stagnant. I saved one P and one D minted roll of each president. That's all I am going to save.
I just don't think they will be worth saving.

 

i don't care for them either, but i sure wish i had a million of them!!!!

 

As well, I spent both rolls I got when they first came out. I'm just doing the singles like I do with the state quarters.

As far as their practical use in everyday commerce, they would be a lot more useful if the government would simple phase out the bill.

 

Actually the $1 dollar coin was used quite a bit in the old west as paper money didnt circulate there like it did in the east. The old large silver dollars (Morgans and Peace) were used alot in casinos until they started to disappear in the mid 60s and 70s because the gamblers were taking them home instead of cashing them in. I believe if it wasnt for these casinos using the old silver dollars they woulnt have gotten much circulation at all.

 

As much as i like the dollar coins, i really feel they are impracticle for commerce. I HATE having change in my pockets. I usually leave whatever change i get in the cup or tip jar if the place has one out.
if i'm pyaing for a 1 item, and give a $5 bill, that means i'm going to have $4 coins in my pocket. ARGH!!!!

 

The only time I get the dollar coins is when I buy stamps at the machine at the post office. I get change in suzies and sacas, sometime both at the same time. Maybe they keep making them just for the post office. Whi knows?

 

Cash registers don't need to be redesigned at all for the $1 coins. There is one extra slot with it's name on it. It's the slot where cashiers put extra rolls of coins, paperclips, etc.

 

Here's these misconceptions I was talking about.

 

I use the dollar coins when I get them. I had a bunch left over from buying a roll of P's, traded 5 for D's, put 5 each aside for the kids, and my binder, and spent the rest. I agree it is pointless, unless the mint abolishes the dollar bill. The coin idea has value, as longevity over paper, will save money, as the dollar bill needs to be replaced far more often. At least you don't confuse these dollar coins with quarters, as some people did with SBA's

 

If you carried a little change, you could pay with 1 dollar coin, and get a quarter(or whatever) back.
:whistle:

 

Good point. Now where do you put all of the extra rolls etc when it really gets busy and you need that extra change FAST?

Does it go in the other "other" slot?

P.S. They don't even hold too many rolls without your register being crammed to the point of not opening. People just LOVE waiting in line for that problem.