Should we replace the 1 dollar bill with a dollar coin? (Congress, legal)
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Should we replace the 1 dollar bill with a dollar coin?
I think it might be a cool idea at first but in the long run, I already have enough change rolling around in my pockets, and I certainly dont want anymore.
Quote:
Originally Posted by TempesT68
They already tried that a few years back, it as expected wasn't very popular
The problem was that the US didn't do what other country's did when replacing the bill with the coin, which is, get rid of the bill first. For the most part, people don't seem to like change and so they stick with what they know.
They still make the coin dollars, but ive never seen one in general circulation. I have a few that I got from the bank, and every once in awhile I'll get some extra and spend them, Maybe get them circulating so they'll catch on, them and the two dollar bill.
I think it might be a cool idea at first but in the long run, I already have enough change rolling around in my pockets, and I certainly dont want anymore.
The problem was that the US didn't do what other country's did when replacing the bill with the coin, which is, get rid of the bill first. For the most part, people don't seem to like change and so they stick with what they know.
They still make the coin dollars, but ive never seen one in general circulation. I have a few that I got from the bank, and every once in awhile I'll get some extra and spend them, Maybe get them circulating so they'll catch on, them and the two dollar bill.
I spent dollar coins all the time and thus, bring them into circulation. Every time I buy a ticket on Atlanta's MARTA, my change is given in $1 coins. That's quite a few coins if I pay with a $20.
I think it's time to revamp the currency. Get rid of the $5 bill while you're at it. Give me $1, $2, and $5 coins - they last forever and don't need to be taken out of circulation every few years.
Lot of people do. I still use cash for purchases under $100. Using a credit/debit card is mostly an American phenomena as when I was in the UK most people used cash and coin. Germany also uses mostly cash and coin
Our exercise into government sponsored counterfeiting, will be Title 31.
TITLE 31 USC § 5112. Denominations, specifications, and design of coins
(a) The Secretary of the Treasury may mint and issue only the following coins:
(1) a dollar coin that is 1.043 inches in diameter.
Let us contrast that with:
Coinage Act of 1792
Dollars or Units - 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver
A dollar *(Coinage Act of 1792) and a dollar coin (Title 31 USC Sec. § 5112) seem similar, but are not.
A dollar is a coin, but a "dollar coin" is not necessarily a dollar. It's a coin, but is it equivalent to a dollar, as originally defined?
Let us delve deeper into the labyrinth.
31 USC Sec. 5112. Denominations, specifications, and design of coins
(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in quantities sufficient to meet public demand, coins which
(1) are 40.6 millimeters in diameter and weigh 31.103 grams;
(2) contain .999 fine silver;
(3) have a design
(A) symbolic of Liberty on the obverse side; and
(B) of an eagle on the reverse side;
(4) have inscriptions of the year of minting or issuance, and the words Liberty, In God We Trust, United States of America, 1 Oz. Fine Silver, E Pluribus Unum, and One Dollar; and
(5) have reeded edges.
Now, the coup de grace - - -
(g) For purposes of section 5132 (a)(1) of this title, all coins minted under subsection (e) of this section shall be considered to be numismatic items.
[Expletive deleted]
Now, let us do a quick review to pierce the legal bafflegab.
A "dollar coin" (the "dollard"?) is a coin that is 1.043 inches in diameter. (26.5 mm in dia.)
But a dollar (which has the right amount of silver) defined under section (e) is 1.59 inches in diameter. (40.6 millimeters in diameter)
DO YOU SEE IT YET?
A dollar coin is not a dollar, as defined by the Coinage Act, and the silver dollar, minted under section (e) is numismatic (!) and not to be considered a "dollar" for redemption purposes.
FRAUD, THIEVERY, DECEPTION - the hallmarks of the best Congress that bribery can buy.
These counterfeiters are arrogant and bold scoundrels, all of them are guilty as accessories to counterfeiting the money of the U.S.A.
18 U.S.C. § 485 : US Code - Section 485: Coins or bars
Whoever falsely makes, forges, or counterfeits any coin or bar in resemblance or similitude of any coin of a denomination higher than 5 cents or any gold or silver bar coined or stamped at any mint or assay office of the United States, or in resemblance or similitude of any foreign gold or silver coin current in the United States or in actual use and circulation as money within the United States; or Whoever passes, utters, publishes, sells, possesses, or brings into the United States any false, forged, or counterfeit coin or bar, knowing the same to be false, forged, or counterfeit, with intent to defraud any body politic or corporate, or any person, or attempts the commission of any offense described in this paragraph - Shall be fined under this title or imprisoned not more than fifteen years, or both.
Does this explain why the "golden dollar" does not contain more metal than 5 copper pennies of the pre-bankruptcy past?
5 x 3.11 gms = 15.55 gms. of copper (in five cents)
THE NEW DOLLAR CON (ahem) COIN IS A "BIG PENNY"!
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The dollar coin is not a dollar
