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<p>[QUOTE=&quot;Numbers, post: 935772, member: 11668&quot;]Sure, but we&#039;d need <i>tens of <u>b</u>illions</i> of $1 coins in order to replace all the $1 notes.&nbsp; The Mint would have to work overtime for several years to produce enough $1 coins to allow the Fed to stop ordering $1 notes for even the limited period you suggest.&nbsp; And, needless to say, that massive coin production would be hugely expensive--Congress isn&#039;t about to order all those coins to be produced and <i>then</i> later reconsider the question of whether we should go back to $1 notes.</p><p>&nbsp;</p><p>It&#039;s also not feasible to gradually reduce the number of $1 notes the Fed ships out, slowing replacing them by $1 coins, as your no-new-$1-bills plan appears to anticipate.&nbsp; That&#039;s because the Fed provides notes and coins to banks based on the banks&#039; demand--and we&#039;ve already seen that, if $1 coins and $1 notes are both available, the banks demand far more notes than coins.&nbsp; If we try to force <i>just a few</i> extra $1 coins into circulation, then the Fed is put in the position of deciding who&#039;ll get the $1 notes they want and who&#039;ll be stuck with the $1 coins; that&#039;s a sure-fire way to upset practically everybody in one way or another.&nbsp; Either give me notes or give me coins, but don&#039;t leave me uncertain from one week to the next as to which I&#039;ll be able to get <i>this</i> time!&nbsp; The only way the Fed can smoothly reduce the availability of $1 notes is by reducing it directly to zero.</p><p>&nbsp;</p><p>If we ever make the switch from $1 notes to $1 coins, we&#039;ll make it once, abruptly, for good and all, not on some kind of trial/temporary/gradual basis.&nbsp; It&#039;s just the only way such a fundamental change to the currency system can possibly be implemented.[/QUOTE]</p><p><br /></p>

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