Replacing $1 bills with $1 coins could save U.S. government $5.5 billion over 30 years

[The Straight Story]

Replacing $1 bills with $1 coins could save U.S. government $5.5 billion over 30 years - NBC citing GAO report

http://www.breakingnews.com/

[Vincardog]

1. I just got back from Ecuador they use $1 coins and do just fine

[CanSocDem]

5. Same here.(eom)

[aikoaiko]

46. whoops wonrg place

[Solly Mack]

2. I like having 1 & 2 Euro coins.

[louis-t]

3. They've tried it here several times. Never took off.

I've got a few of the dollar coins. They sit in a drawer. Americans must like foldin' money. Either that or they are (rightly) suspicious of them.

[JackintheGreen]

6. Folks don't have a choice

if bills are removed from circulation. That's what needs to be done.

[Sinistrous]

8. That is what the Canadians did and it worked just fine.

The "Loonies" are now the only C$1 denomination.

[JackintheGreen]

13. Only problem

I hear that strippers don't care for them. :P

[damntexdem]

16. They likely don't care for $1 bills, either.

Whereas they might not disparage $100 coins. ;-)

[DJ13]

17. All they need is a money slot

:hide:

[JackintheGreen]

19. Wait, that isn't what "that" is for???

:evilgrin:

[timo]

52. they charge extra

for using it that way!!

[tkmorris]

31. You wouldn't believe what I saw at this bar in Tijuana

[yesphan]

25. Especially

When it's cold.

[louis-t]

29. They're a little cold.

x(

[ieoeja]

9. "rightly"? (nt)

[louis-t]

60. Goes back to the '80's when companies that had their products

in vending machines were lobbying for dollar coins so they could justify raising prices (which were then 50 or 75 cents) to a dollar. Instead, they perfected the paper dollar reader.

[VoteProgressive]

23. I AGREE

[tkmorris]

30. "rightly" suspicious of them?

Why would it be "right" to be suspicious of them? Are they plotting something?

[drmeow]

37. I think it would work better now

especially in bigger cities as vending machines (ticket vending machines especially) have been giving change in $1 coins. People are getting more used to having them and using them.

[tabasco]

65. It never took off because they never said,

"this is the way it is, deal with it in your own special way."

[Angry Dragon]

4. England uses coins

can't find a one pound paper note

[aquart]

7. They're HEAVY.

Not a worry if your lowest bill is a twenty, but those of us who have ones really don't love it.

And while it might save the government some cash, it will cost the citizens a fortune as every single vending machine migrates to dollar coins

[Scout]

10. MANY vending machines already take dollar coins and $5 bills n/t

[LoveIsNow]

12. Most vending machines already take them.

And they're better for vending because they don't get rejected half the time like bills. What makes you think it would cost people a fortune?

[Graybeard]

33. Would aluminum be too costly to use?

U.S. coins are some sort of nickel alloy. To cope with the weight issue they made the Anthony dollars small but they looked too much like quarters.

The Sacajaweas were bigger but too heavy.

Other countries use aluminum why not the U.S of A.?

[Supply Side Jesus]

11. My stripper ain't going to like that

and i aint tipping $5

[JackintheGreen]

15. Then you need a better stripper! n/t

[TorchTheWitch]

49. no, strippers need better tippers

Can't make a fucking dime in this business anymore.

[jberryhill]

45. The bar can sell redeemable coupons

Some nightclubs already use scrip for accounting purposes, or so I am told.

[Supply Side Jesus]

62. i didnt know that...script is back baby

:D

[damntexdem]

14. Well, perhaps it would if people would use them.

Past attempts have been miserable failures.

[JackintheGreen]

18. As I said in #6

if you don't give folks a choice, they'll suck it up.

But I'm sitting here imagining the hue and cry of the 'baggers about how the nasty socialist government is limiting our FREEDOM. I think it would be hysterical. I mean, the government is granted authority over money by the constitution, right? So that complaint is crap. And it would save billions, meeting yet another bagger bitch head on. I say fuck 'em. Do it and giggle.

And drop the penny, too, fercrissakes.

[LoveIsNow]

20. It should have been done a long time ago.

Dollar bills last less than two years on average.

SOURCE:<http://www.federalreserve.gov/generalinfo/faq/faqcur.htm#13>

While coins last decades. I got a 1919 penny in my change at the grocery store last week, for instance.

The only way to get people to accept them is to discontinue the dollar bill. This has been demonstrated in Canada, Australia, the U.K., etc., where the base currency note has been discontinued.

[Nye Bevan]

21. I wish they would do that. Those dollar bill slots in vending machines suck.

I would rather just put may hand in my pocket and grab some change to pay someone a couple of bucks, as opposed to getting my wallet out.

[VoteProgressive]

22. Might be hard getting used to the coins!

[sinkingfeeling]

24. Uh, haven't we tried that about a dozen times? Susan B. Anthony dollars? Sacagawea dollar?

[Frank Cannon]

64. They keep making them the size of quarters, which is an annoyance to everyone.

Particularly people who handle money for a living.

As I recall, the larger Eisenhower dollar seemed to do okay in the years when it was around.

[elocs]

26. I just got back from the laundromat and had to drop 24 quarters in one machine.

Being able to use a dollar coin would have been handy.

Ironically, when I took the clothes out of the dryer there was a coin in there, a $1 coin with John Tyler on it. Who would have ever thunk that John Tyler would have made it on a coin?

[Gaedel]

32. Part of the presidential coin series

It began with George Washington and will eventually work its way up to Obama at four presidents per year.

[walldude]

27. I also read that it costs 3 cents to make a penny

isn't it time we got rid of those things? Round everything up to the nearest nickle and use that money to fix the damn budget.

[Kennah]

43. Given our current direction ...

... I'd say we need to bring back the half cent.

[Modern_Matthew]

28. Very rarely do I use currency, anyway. I love swiping my check card. nt

[JVS]

34. They are also nice for parking meters and veding machines

[Taverner]

35. No - all currency should be made of GOLD! GOLD I TELL YA!!!

GOOOOOOLD!!!!

[Motown_Johnny]

36. that would make a very tiny $1.00 coin

[Taverner]

38. I know - but some of the baggers are trying to do just that

Most of them are Anti-fed reserve conspiracy nuts who think Obama is president of some Kenyan-Masonic-Illuminati-Soviet-Gay plan to put everyone in camps and steal their gold

[guyton]

41. Something wrong with CatsForGold.com

Have too much gold and only three cats. But I couldn't fill in the form and there's no contact info!

:silly:

[surrealAmerican]

39. If they wanted to be smart about this ...

... they would stop printing paper money in denominations less than $20, make $1, $5 and $10 coins, and stop making pennies and nickles. Then our currency would be as practical now as it was in 1950.

[Taverner]

40. No Quarters either

Of course that means all laundromats will only take 4 x $1 coins....

[jwirr]

42. It's a purses vs billfolds question, guys?

:rofl:

[hfojvt]

44. I still think they'd get more use if there was a $5 coin

then small transactions could be paid with coins.

[aikoaiko]

47. I hardly use cash at all. Even the coke machine take debit/credit

I still need cash for Girl Scout cookies and poker games.

[TorchTheWitch]

48. they're too heavy, take up too much space and are too easily lost

And in a country where so many jobs are tip related, it ain't gonna happen.

[HopeHoops]

50. I use $1 coins all the time. It is a lot easier to scrounge in a pocket than get out a wallet.

They're really easy to identify by feel - at least the post-Suzie's are.

[eppur_se_muova]

51. They're GREAT for paying tolls under windy conditions.

If I'm planning a highway trip over toll roads, I put $10-20 worth of dollar coins in the cup holder. No more watching George Washington take wing -- just toss the coin in the basket, even from a high truck window.

I heard the $1 bills are defended by a Senator whose district includes a plant for making the paper they are printed on ...

[trusty elf]

53. .....

[Shagbark Hickory]

54. I would prefer coins. I often request them when I'm at a bank or PO.

Can you imagine how exciting this would make looking under the sofa cushions?

[sarcasmo]

55. Stopping the war machine would save Trillions.

[DCBob]

56. How about dumping pennies?

Their use in daily commerce is the most incredibly worthless waste of time and effort for consumers and businesses.

[JCMach1]

61. Dump the penny, and make the new dollar with Lincoln and Copper-clad

[last_texas_dem]

57. If they'd phase out the $1 bill this just might work.

For some reason they just keep introducing dollar coins w/o pulling the dollar bill, and wonder why it doesn't take off.

If the guv'mint is smart enough to be able to calculate how much shifting over to a dollar coin would save, you'd think they'd be smart enough to bite the bullet and phase out the dollar bill. The Bureau of Engraving and Printing must have tough lobbyists or something.

[GSLevel9]

58. good idea!

But make them small and light so having $10 in your pocket doesn't weigh 1/4 lb!

OH and get RID of the penny, too!!!!!!!!

[fittosurvive]

59. I don't use coins, but this is logical--do it.

[jp11]

63. Agreed, this might cause me to carry change.