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Old 11-29-2013, 07:29 AM
 
Location: Hermoso y tranquilo Panamá
11,874 posts, read 10,057,892 times
Reputation: 47190

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Morning y’all
. . . . . Didja Know?
A report by the Government Accountability Office showed that the United States government would
save $4.4 billion over 30 years -- or about $150 million a year if $1 paper bills were replaced with $1 coins.

The Federal Reserve Banks hold about $1.4 billion in $1 coins, far more than half of all $1 coins ever minted
and last year the government’s stockpile actually grew because more of the $1 coins were returned than
paid out. Needless to say it costs a big chunk of change to store them.




$1 coins: Unwanted, unloved and out of currency - CNN.com
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Old 11-29-2013, 07:51 AM
 
Location: SW France
14,820 posts, read 15,097,039 times
Reputation: 28179
Far be it for me to delve into your internal affairs, but that has always puzzled me as to why the $1 coin is not widely used.

Bearing in mind that $1 is worth around £0.63p and we happily carry around £1 and £2 coins it surprises me that you don't have a higher value coin in common circulation.

$1 bills get so tatty but maybe there's a reason behind it that I don't know.
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Old 11-29-2013, 09:39 AM
 
Location: Out there somewhere...a traveling man.
41,388 posts, read 52,791,060 times
Reputation: 116616
That's been tried and the people have spoke, not popular at all. Too bulky and how can you carry the weight of a ton of money around bulging your pockets or wearing a hole in them spilling all over the floor, especially at Hooters.
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Old 11-29-2013, 09:46 AM
 
Location: Texas
15,895 posts, read 16,209,623 times
Reputation: 62709
Quote:
Originally Posted by wit-nit View Post
That's been tried and the people have spoke, not popular at all. Too bulky and how can you carry the weight of a ton of money around bulging your pockets or wearing a hole in them spilling all over the floor, especially at Hooters.
Oh, was that you? ahahahahahahaha
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Old 11-29-2013, 10:55 AM
 
Location: Arizona, The American Southwest
52,859 posts, read 31,164,588 times
Reputation: 91410
Quote:
Originally Posted by JustJoy View Post
Morning y’all
. . . . . Didja Know?
A report by the Government Accountability Office showed that the United States government would
save $4.4 billion over 30 years -- or about $150 million a year if $1 paper bills were replaced with $1 coins.

The Federal Reserve Banks hold about $1.4 billion in $1 coins, far more than half of all $1 coins ever minted
and last year the government’s stockpile actually grew because more of the $1 coins were returned than
paid out. Needless to say it costs a big chunk of change to store them.




$1 coins: Unwanted, unloved and out of currency - CNN.com
Government Accountability.. Two words that conflict with each other..
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Old 11-29-2013, 11:00 AM
 
Location: NW Indiana
41,918 posts, read 16,657,824 times
Reputation: 107333
I didn't know the stats, Joy, but I'm not surprised. I don't understand why Americans don't embrace the $1 coin. Foreign countries use them and even $2 (or 2 Euro) coins, but for some reason they go over like lead balloons in America. I'd love to see the $1 coin replace the $1 paper note.

.
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Old 11-29-2013, 11:29 AM
 
Location: Arizona, The American Southwest
52,859 posts, read 31,164,588 times
Reputation: 91410
I remember either $1 or .50-cent coins that were made out of silver, but that was last done in the early 1960s, I've seen them around until I was 15 or so in 1972. If the new $1 coins were made out of silver I'd probably hoard them..
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Old 11-29-2013, 11:46 AM
 
Location: Looking over your shoulder
31,304 posts, read 29,664,994 times
Reputation: 84382
Lightbulb Know who you're angry with first!

An interesting read at the link below.

Who Owns The Federal Reserve? | Global Research

Now “think” about this for a minute. What better business to be in, charge the government for printing and producing currencies – you make a profit. Then charge them again for storing the unused currencies – you make money. Life couldn’t be any better for a NON government agency. Yes this is a nice business to be in, you don’t have any competition to deal with, and it’s a product that everyone uses what more could be better? The worst thing is that you have to give yourself a raise each year in your paycheck to keep up with all the hard work you do should you be on the board of directors of the FED. Oh, what a minute – if you’re on the board of directors for the FED you’re also one of the “BANKERS” (CEOs) that run the financial institutions and you make your annual paycheck there as well. It’s sad that these guys have to have a part time job working as a board member for the FED, maybe the CEO of banks need a pay raise?

Maybe the best thing would be for the government to save monthly storage fees and send the “stored” coins to my recycling center for destruction where I would charge them a small fee. I’ll recycle the coins at 10cents on the dollar which is fair.

After looking into the fees and where the money is going or not, it appears that the government isn’t the bad guy here, but the FED and the bankers ARE!

.
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Old 11-29-2013, 11:51 AM
 
Location: Portlandia "burbs"
10,234 posts, read 14,766,956 times
Reputation: 25939
Most people despise $1 coins. Considering that I am a cash person, I would not appreciate the weight added to my coin purse.

Now where I live, the change you get from mass-transit ticket machines are in $1 coins. I've had $18 come out in coins when I had to use a twenty to buy it.

The coins are just too big.
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Old 11-29-2013, 01:01 PM
 
Location: Chicago area
17,405 posts, read 9,366,878 times
Reputation: 60734
Quote:
Originally Posted by wit-nit View Post
That's been tried and the people have spoke, not popular at all. Too bulky and how can you carry the weight of a ton of money around bulging your pockets or wearing a hole in them spilling all over the floor, especially at Hooters.

How are the strippers supposed to collect those dollar coins? Won't someone think of the strippers?
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