Dollar Coins

[SeaCat]

So this Thursday they will be releasing the new Dollar Coin here in the United States. There is more than a little debate over this though. This will be the third attempt to get Americans to accept a dollar coin. Why? Because people seem to like their dollar bills. Why? Damned if I know.

This is part of an ongoing debate about our money here. The government would save, they say and I don't doubt it, several billions of dollars over the next few years if we did away with the one dollar bill. We would also save several more millions of dollars a year if we did away with the Penny. (By the way, the metal in the penny is worth more than one penny, and it takes considerably more than a penn to produce one.)

Cat

 

[glynndah]

Those gold dollar coins made great pirate treasure for the Pre-K set.

 

[Jenny_Jackson]

I loved the old American Eagle Silver Dollars. It was such a disappointment when the mint tried to pass off the Susan B. Anthony quarter for a buck The Gold ones had the same problem. THEY WERE THE WORNG FUCKING SIZE AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I don't expect them to get it right this time either

 

[only_more_so]

So this Thursday they will be releasing the new Dollar Coin here in the United States. There is more than a little debate over this though. This will be the third attempt to get Americans to accept a dollar coin. Why? Because people seem to like their dollar bills. Why? Damned if I know.

This is part of an ongoing debate about our money here. The government would save, they say and I don't doubt it, several billions of dollars over the next few years if we did away with the one dollar bill. We would also save several more millions of dollars a year if we did away with the Penny. (By the way, the metal in the penny is worth more than one penny, and it takes considerably more than a penn to produce one.)

Cat

I agree that the dollar bill should go. They only last something like 6 months before they have been in so many stripper's G-strings that they aren't fit to be handled. Alright, that isn't quite true, but it is disturbing to think of all the places a dollar bill might have been before it gets into your hands. Not as disturbing as the ass-penny concept, but still disturbing.

I don't know if the metal in a penny is worth more than a penny. I know they switched to copper to avoid that being the case. According to one website I visited, a current penny is worth .78 cents in metal. But a nickle is worth nearly 7 cents in metal! The metal aside, it definately does cost more to mint a penny than the penny is worth. Fortunately pennies last a very long time.

People just aren't ready to round off to five cents. Maybe if we had a two cent coin, just to screw with people's minds. Oh, and bring back the 2 dollar bill!

 

[Carnevil9]

The Gold ones had the same problem. THEY WERE THE WRONG FUCKING SIZE AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

When they came out with the Sacajawea dollar, it was mandated by law that it be the same fucking size as the Susan B. Anthony dollar. That was so it would continue to work in vending machines, toll booths, etc. They didn't want to have to re-tool the entire monetary system. Everything is linked, you know.

I always thought a successful dollar coin could be made in the size and shape of a British Pound coin: about the size of a nickel, but twice as fat. Those things are cool, and they feel like they are worth some money!

 

[only_more_so]

When they came out with the Sacajawea dollar, it was mandated by law that it be the same fucking size as the Susan B. Anthony dollar. That was so it would continue to work in vending machines, toll booths, etc. They didn't want to have to re-tool the entire monetary system. Everything is linked, you know.

I always thought a successful dollar coin could be made in the size and shape of a British Pound coin: about the size of a nickel, but twice as fat. Those things are cool, and they feel like they are worth some money!

Silly me, I always thought a dollar coin should be 4 times the volume as a quarter. Just as a quarter is 2.5 times the volume of a dime. Or am I just being a silly traditionalist?

 

[Carnevil9]

Then why are nickels bigger than dimes?

 

[rgraham666]

Don't understand why people would have problems with dollar coins.

We've had Loonies (one dollar coins) and Toonies (two dollar coins) for ages. They're very handy.

 

[only_more_so]

They why are nickels bigger than dimes?

Because nickles were made from Nickle which is cheaper than silver. Dimes quarters, half dollars and dollars were traditionally made from 90% silver, so their volume corresponded to their worth.

 

[SeaCat]

Personally I always thought they should have designed the new dollar coins to be the size of the older Fifty Cent Pieces. Much easier to tell apart from the Quarters.

Then again I also feel they should also do away wth the five and maybe even the ten dollar bills and make them into coins as well. This actually would save the government a lot of money over time.

As for the penny, I recently read but can't find the story now, that each penny by weight is worth roughly 2 cents.

Cat

 

[only_more_so]

Personally I always thought they should have designed the new dollar coins to be the size of the older Fifty Cent Pieces. Much easier to tell apart from the Quarters.

Then again I also feel they should also do away wth the five and maybe even the ten dollar bills and make them into coins as well. This actually would save the government a lot of money over time.

As for the penny, I recently read but can't find the story now, that each penny by weight is worth roughly 2 cents.

Cat

I think it might cost 2 cents. But the metal, at current market values, isn't worth that much, unless you are talking the old copper pennies. BTW, even if the coin is worth more in metal than face value, don't forget that it costs money to melt metal and seperate it into sellable ingots.

 

[TE999]

Why don't we just use debit and credit cards and scrap these bills and coins?

They're germ carriers, they're clumsy to work with and my penny jar weighs a ton!

It's not like any of it is actually worth anything like the old gold and silver coins.

What ever happened to the paperless society anyway?

 

[SlickTony]

I read somewhere that every piece of paper currency in South Florida has a detectable amount of cocaine on it.

I liked the pound coin when I was in the UK. I understand they don't have it anymore.

And I agree about the dollar coin in the US being the wrong size. You ought to be able to tell it from a quarter by feel.

 

[SeaCat]

I like the way the English did the Pound Coin. It is easily identifiable even by touch. There is no mistaking them.

Oh and by the way, I have roughly 20 pounds between English and Irish coinage.

Cat

 

[SeaCat]

Why don't we just use debit and credit cards and scrap these bills and coins?

They're germ carriers, they're clumsy to work with and my penny jar weighs a ton!

It's not like any of it is actually worth anything like the old gold and silver coins.

What ever happened to the
paperless society anyway?

Debit cards are good, but there is just something about having money in hand.

Without cash I don't think I would have been able to set up my emergency fund. (A bill at a time.)

As for the Gold and Silver, well I have over $500.00 face value of silver coins and $100.00 face value of Gold coins.

Coinage and bills are only worth the value our society places on them.

Cat

 

[fieryjen]

But only_more_so has a good point... what will they stuff into stripper's g-strings if not dollar bills??

 

[only_more_so]

But only_more_so has a good point... what will they stuff into stripper's g-strings if not dollar bills??

Maybe they would sell you "tip strips". You buy twenty of them for twenty dollars and the strippers can trade them in at the end of the night.

Ha ha ha. That is a great new nickname for dollar bills. Tip strips.

 

[R. Richard]

In the old days, you needed coins to work vending machines. Now, many vending machines take dollar bills. Also, the old coin vending machines would mostly only take quarters.

So, what is the specific use for a dollar coin?

 

[Boxlicker101]

I always wondered why the Ike dollars were taken out of circulation. I don't mean the real silver dollars, because they would have been too expensive, but the sandwich type coins. They were nice and hefty, with a good feel to them, although they probably cost more to make than the Susies or Sac. Dollars.

Maybe the fifty cent pieces should be taken out of circulation, and a dollar coin of that size or larger be put in. You would certainly be able to tell them from quarters, unlike the more recent dollar coins.

 

[TE999]

Debit cards are good, but there is just something about having money in hand.

Without cash I don't think I would have been able to set up my emergency fund. (A bill at a time.)

As for the Gold and Silver, well I have over $500.00 face value of silver coins and $100.00 face value of Gold coins.

Coinage and bills are only worth the value our society places on them.

Cat

Good point. I guess it wouldn't hurt to have some Krugerrands and Maple Leaf's socked away somewhere for when the economy goes bust.

Of course it may take one just for a loaf of bread.

And the plastic money will be plastic junk.

 

[gauchecritic]

So, what is the specific use for a dollar coin?

Specifically, as someone has pointed out, coins last longer than bills and so save production costs.

And we still do have pound coins Slick. they're a fucker on your pockets though.

 

[JamesSD]

Don't understand why people would have problems with dollar coins.

We've had Loonies (one dollar coins) and Toonies (two dollar coins) for ages. They're very handy.

That was my experience from the time I spent in Canada. I did find it odd that I could be carrying around over four bucks in change and have it only be six coins.

They're extremely useful for vending machines and small purchases like coffee.

Still, in the US we're very accustomed to using paper money of the same size and color. The government has pussy-footed around forcing us to change to something that makes more sense. Remember, we're pretty much the only country in the world that rejected the metric system! Although, as a scientist I'm familiar with both since grams and liters work WAY better than pounds and gallons.

 

[SimonBrooke]

I always thought a successful dollar coin could be made in the size and shape of a British Pound coin: about the size of a nickel, but twice as fat. Those things are cool, and they feel like they are worth some money!

Popularly known as 'Maggies' - they're thick and brassy and think they're sovereigns

 

[Vermilion]

Popularly known as 'Maggies' - they're thick and brassy and think they're sovereigns

And don't forget the pretty, yet pointless two-pound coins. I think the govt. just brought them in to accustom us to the look of Euros for when they fuck us all over and join the single currency whether we want to or not. It's not like any of the machines have been adjusted for taking two-pound coins.

</rant>

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[Guest]

erm...
we were supposed to convert to the metric system, how many years ago?
the only place i saw that really come about was in the hospital for weights and measures...