Supporting A U.S. $2 Coin

swhuck · Jul 27, 2010

Conder101 said: ↑

And people who think that are wrong. The BEP prints about 9 billion dollar bills a year. This is why the naysayers believe it would take years of coin production. The thing is between 50 to 75% of all of the dollar bills printed each year are to replace worn out notes. So while they are printing 9 billion thare are only about 5 to 6 billion in actual circulation at any time. We have already produced some 2.5 billion small dollars that won't wear out for thirty years. It would only take about two more years to produce enough dollar coins to replace the actual number of circulating dollar notes. At which point production would drop considerably.

It also fails o take into account that when the dollar note is discontinued, the production of the two dollar note would be ramped up. This would also replace a lot of those dollar notes. Possibly enough that only one more year of heavy production of dollar coins would be sufficient. Remember right now most every transaction requires from one to four dollar bills. With the dollar coin and two dollar notes you never need more than one dollar coin per transaction. and never more than two notes. So if they stopped the ones, I think the countries coin and currency supply would be satisfactory within one year. And then production would decline even further.

So drop the one, get people used to the dollar coin and the Two, then in a few years we can look at dropping the two for a two dollar coin which will save even more on production costs. Once again thei is how every other country has done it and it worked everywhere else.
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Of course, that makes way too much sense to ever happen.

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Supporting A U.S. $2 Coin

swhuck Junior Member

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Supporting A U.S. $2 Coin

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