Dollar Coins / Tokens (money) (average, Las Vegas)
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Yup, the Susan B and Sacajawea coins were underwhelming in their acceptance. I expect most people have a few rattling around in a drawer somewhere but as far as actually being used?
Nah.
The one token thief answer has it right. It has little or nothing to do with acceptance of a coin dollar. It is all about drugged-out methheads thinking "Hey, I can use the winch on my pickup to rip this machine out of the ground and take all the money from it."
Too me the dollar bill is just as much a pain in the butt as would a coin be. Back 20 years ago when the dollar bill could actually buy something I could understand it then but now not so much.
Down in Australia and New Zealand when traveling down there I easily got used to the $1 and $2 coins. It's not a big deal to use them or carry them. They also eliminated the 1 cent and 5 cent coins in NZ which is fine by me.
Too me the dollar bill is just as much a pain in the butt as would a coin be. Back 20 years ago when the dollar bill could actually buy something I could understand it then but now not so much.
Down in Australia and New Zealand when traveling down there I easily got used to the $1 and $2 coins. It's not a big deal to use them or carry them. They also eliminated the 1 cent and 5 cent coins in NZ which is fine by me.
This may be getting a bit afield, but since we're talking about denominations of coins and currency I'll throw it out.
You probably know about the movement to eliminate the penny, which is based mainly on inconvenience plus the fact that the cost of the metal in the penny is now more than its face value. The primary opposition comes from the zinc industry, because pennies are made mostly of zinc these days.
The funny aspect of this argument is that the negative seignorage for the nickel is greater than that for the cent, so it would actually cost the Treasury more if people started using nickels in place of cents.
This may be getting a bit afield, but since we're talking about denominations of coins and currency I'll throw it out.
You probably know about the movement to eliminate the penny, which is based mainly on inconvenience plus the fact that the cost of the metal in the penny is now more than its face value. The primary opposition comes from the zinc industry, because pennies are made mostly of zinc these days.
The funny aspect of this argument is that the negative seignorage for the nickel is greater than that for the cent, so it would actually cost the Treasury more if people started using nickels in place of cents.
Why not get rid of BOTH the cent and nickel? They are of little use and are mostly annoying.
I'm curious why car washes, parking garages, etc. don't use the dollar coins instead of tokens? Any insight? It would sure simplify things if everyone used the coins. I always carry around several in my car "just in case." Usually use them on toll roads.
Because they want you buy their tokens and they know that you will probably never use all of them... It's free money for them...
Why not get rid of BOTH the cent and nickel? They are of little use and are mostly annoying.
IRC New Zealand has done away with both and when I was down there it seemed to work fine to me.
I believe the US treasury started running out of pennies a few years ago and was encouraging people to bring them into the bank.
I always check my nickels for silver nickels from before 1964. I found a 1939 nickel just the other day, which I thought quite impressive how long that has been circulating around.
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You probably know about the movement to eliminate the penny, which is based mainly on inconvenience plus the fact that the cost of the metal in the penny is now more than its face value. The primary opposition comes from the zinc industry, because pennies are made mostly of zinc these days.
Actually this isn't correct. At today's prices the current penny is worth $0.0058670. This penny has been in circulation since some time in 1982.
It is the copper penny that is worth more than it's face value. Today the copper penny's melt value is $0.0206797. [/SIZE] This penny circulated from 1909 - 1982.
1982 pennies can be of either composition and have to be weighed to determine which though many can see the difference once you know what to look for. There are a lot of collectors these days sifting out the pre 1982 pennies from circulation so I expect that one day we will see the copper pennies disappear like the silver coins.
.I believe the US treasury started running out of pennies a few years ago and was encouraging people to bring them into the bank.....I always check my nickels for silver nickels from before 1964. I found a 1939 nickel just the other day, which I thought quite impressive how long that has been circulating around.
No problem these days. The economic depression has caused a glut of pennies on the market and the US Mint has put a hold on their manufacture. It's a bit of a shame as this year only there are 4 special 2009 pennies that celebrate Lincoln. In 2010, the memorial penny (minted since 1959) is going to be replaced by the shield penny so the likelyhood of seeing one of these 4 pennies is small. If you had bought a Lincoln Chronicles set from the mint this year, you could have turned around and sold it on Ebay for about $150. This was a special Lincoln silver dollar and proof versions of the 4 - 2009 pennies. It still isn't too late to purchase the penny only proof set. U.S. Mint Online Product Catalog
The US dollar coin will never gain acceptance until the government does away with the paper dollar. Canada did this in the 1990s and now they use only $1 and $2 coins, called loonies and toonies. I don't care either way. Paper or coin, money is money, and I'm not too lazy to carry a few dollar coins, although I wish they would go back to making a really nice looking coin like the old ones that featured Lady Liberty.
For those of you who don't like the dollar coins, send all of your to me!
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