What will replace the Presidential Dollar?

I understand that...and you are right. If there is no $1 bill (or $2 for that matter)...people will have to use the coin.

But there is a flaw in that plan. In order for that to happen, Congress would have to pass a bill. In order for that to happen a bunch of Congressmen would have to vote in favor of it. I would be willing to get that the majority of American's would not like the result of that bill being passed...because the general public prefers to use the $1 bill. I doubt enough members of Congress would be willing to risk angering the people who voted them into office to pass such a bill. They have to worry about getting re-elected.

 

Log in or Sign up to hide this ad.

I like $2.00 bills

 

I do too...I have always loved the back of them.

 

Digital money...get ready.

 

Me too, do you pick them up via BEP uncut? I have but only the 4 uncut $2's

 

I don't have any uncut notes. I might pick one up at some point but not right now. They are neat though.

 

I think that's where we are going to end up...and that will solve the $1 bill problem.

 

We,ve had digital money for years now...but some of the population will never be qualified to use it. Even if you give them a card every month, they either trade it for whatever or loose it. Other than these few cases, we can live without any cash right now. Will the law require it in the near future?

 

The world is becoming more digital everyday...eventually it will happen. Will it be in our lifetimes? Probably not...but 100 years, 200 years down the road, I could see it.

 

And that differs from cash how?

Just about everyone has a cell phone. If you've got a cell phone, you've got the infrastructure you need for electronic payment, and probably the authorization to boot. (I'm assuming you can put money into an e-pay account the same way you put money into a pay-as-you-go phone plan.)

 

Until an EMP,sabbotage or terrorist attack and there is no electronic capability... the cent, nickel etc etc might become extremely valuable...if we could find a store wherein the person behind the counter could make change when there's no register available. Get those fingers and toes ready folks!

 

For general circulation I expect any dollar coin will be rejected by the public -- unless we also overhaul our existing coin system starting at the bottom.

-- First, eliminate the 1-cent coin.

-- After the old penny is gone from circulation, introduce a new 5-cent copper coin. Same size as an old penny. Unique copper-zinc composition (brass color). New design featuring a big number "5".

-- After the old nickel is gone, introduce a new 25-cent coin. Totally new design. Maybe the same size as an old nickel (or bit bigger). But it must be instantly distinguishable from an old nickel. Maybe a reeded edge & light brass tone. And a big number "25".

-- After the old quarter is gone, introduce a new 50-cent coin. Same size as an old quarter. Big number "50".

-- After the old half is gone, introduce a new $1 coin. Same size as an old half-dollar. Maybe 5% silver?

-- Eliminate the $1 bill. Begin wide-spread circulation of $2 bills.

======

Alternatively, WE CAN SIMPLY KEEP OUR CURRENT SYSTEM!

Maybe it won't be cheaper in the long run. But I worry that changes can have unexpected negative consequences.

 

When you change the size and weight of coins every machine has to be adjusted. Parking meters, tolls, vending machines. So that part of it is not cost effective. The point about dropping the penny, the nickel and the dollar bill, is that it will save billions of dollars over time without reconfiguring every machine in existence that takes coins. We already have a surplus of unused dollar coins that we can use without minting any more until we have to.
The dime will become the new penny.

 

UGH...you do make a good point...hate you for it LOL

 

Everyone keeps saying Americans hate the dollar coins. I assume your only "evidence" is that there are vaults full of uncirculated dollar coins - supposedly -, or that you personally don't use them.

I use them a lot, people whom receive them from me ask if I have any more that they can buy off of me, etc.

I'd be curious to see results of an actual survey about whether or not people like dollar coins or why they do or do not use them.

Other countries have no issues with using coins, why is it uniquely an American "problem"?

 

I greatly prefer $1 coins over $1 bills. I've spent as many as 30 of the coins in a single transaction. Whenever I cash a check I usually ask for a roll or two.

I don't get the weight argument that some people bring up concerning the coins. How many dollar bills, on average, does a person have on them ? Four or Five ? How much do four or five of the dollar coins weigh ? Not much. How much of pain is it to remove and count four one-dollar bills from your wallet ? How easy is it to count four one-dollar coins from your pocket ?

But there is an entity that doesn't want the dollar coin to succeed - the Federal Reserve. Dollar bills are issued by the Federal Reserve (a banking cartel). Dollar coins are issued by the US Treasury.

Anyway, this is what I proposed and hoped would become the new circulating $1 coin:

 

Is that Kenny on the obv.?

 

Kenny G?
Good idea

 

Good one...if can't do living Presidents...couldn't rightfully do living celebs me thinks...but there are many past celebs perhaps worthy of note i.e. Gable, Widmark, Russell, Monroe, & if they really wanted to get the $1 to garner notice and circulate begin the series with Michael Jackson & Prince (for the younger crowd) Janis Joplin & Jimmy Hendricks (for Boomers)...just a thought.

But to really set the hook and pull the youngest in, (Grandma & Grandpa would surely see to this one being successful) do Spongebob Squarepants and whomever is the going Saturday morning cartoon character...Ninja Turtles?

It's not too hard to think of those things people seem to most collect when they vacation, tho I doubt jiggers, cards, thimbles, teapots and ash trays are a good draw...but ships, fish, birds, flowers, & animals might be another avenue of travel.

Some rather weak I admit, &/or plentiful on the coins of other nations, but those are collector coins and not for circulation for the mostpart.

While some of the aforementioned, I'm sure, would find their way to the usual drawer or jewelry box, perhaps there would be greater success with the $1 coin under these circumstances.

I think we would all agree for the hobby to survive and eventually evolve into a prosperous hobby, cultivation of the younger crowd is essential. The demographic most likely to help are those Teens with a great deal of discretionary $$ to take note and thereby become involved in one way or another.

 

It's a bit of a "chicken or the the egg" situation. They hoard every one they come across because you never see them in circulation, and you never see them in circulation because everyone hoards every one they come across.