Should we replace the 1 dollar bill with a dollar coin? (carry, elect)
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The cash I put in my wallet last month is still there.
As another poster said:
Who uses cash anymore?
In fact who uses checks anymore?
I do.
I do.
I will continue to do so.
As far as the dollar coin goes, how often do you receive a half dollar coin? People snag them and put them away. I'm old enough to remember the Franklin $.50 piece in circulation.
As far as the dollar coin goes, how often do you receive a half dollar coin? People snag them and put them away. I'm old enough to remember the Franklin $.50 piece in circulation.
WOW...... I have one of those tucked away somewhere, I always thought they were pretty neat.
Here's a thought. The old pennies, the ones before about 1980 were made of real copper. So maybe they're now worth more because copper prices have gone up. Maybe I'm sitting on a small fortune, not to mention I've got some silver coins I've found in my change. Cha ching!! $$$$
No, leave the dollar bill alone. Dollar coins fail and we've seen that time and again. But TWENTY dolalr coins would likely be a huge success. Make it the size of an old silver dollar coin. You could have a few of those in your pocket and you'd never lose them. Plus they'd last forever.
I don't know why they don't... I think its due to institutional counterfeiting. Maybe they'd be too easy to counterfeit by foreign powers, or maybe they'd be too hard. Either might be the problem. And they'd be harder to manipulate in the money supply. Try googling twenty dollar coins and you'll find zero efforts or information on the possibility of them minting them and putting them into circulation. It's a conspiracy, I tells ya!
Here's a thought. The old pennies, the ones before about 1980 were made of real copper. So maybe they're now worth more because copper prices have gone up. Maybe I'm sitting on a small fortune, not to mention I've got some silver coins I've found in my change. Cha ching!! $$$$
!
Sorry..... there are laws against melting your currency down and cashing it in for the value of the metal it's made of.
Think about that for a second, a penny isn't worth the metal it's made of.......
No. Coins are too easily lost, and a dollar is of much more significant value than the current largest common coin.
In Europe, they have 1- and 2-Euro coins. You can lose 5 euros (about $7, $8 when I went there) very easily.
Even in Mexico, 10-peso coins are in very common circulation, and I find these (worth about 90 cents) too big of a value for coins.
As far as checks go, I don't use them and I've written about two checks in my life, but they are still used many people, particularly older people who are less likely to use these forums.
I routinely use dollar coins for retail purchases and tips. But I've never received one as change from a merchant, and most have told me they just take them to the bank because customers don't like them or are confused when they receive them. Until the dollar bill is eliminated, the coins will never be circulated in sufficient quantites to make any difference. It didn't help matters when the Mint discontined its free direct shipment program, because most banks don't bother keeping many coins on hand for people who may actually want them.
Plenty of people do. Now that's what they should do away with......the credit card. If you can't afford to buy it upfront, you have no business buying it in the first place.
I use credit cards for almost everything, and I can certainly afford to pay upfront. I don't pay any interest, and I don't have an annual fee.
Quote:
Originally Posted by WhipperSnapper 88
I use cash pretty much for everything. I'll use a credit/debit card only for gas, or for a larger purchase but thats it.
That is fine as your preference but I'm buying the same things for cheaper since I get cash back with my credit card, and it has various other bennies like doubling warranties etc. and I can track my spending far more easily than you can.
I'm all for the following three things to save money and bring in revenue:
1. Get rid of the $1 bill and replace it with a coin
2. Get rid of the penny
Yup. People are just against it because they aren't used to it.
As much as people talk about how our government needs to find ways to save money, this seems like pretty low hanging fruit and would more closely align our monetary practices with other 1st world nations.
The government can't think of better ways to save money? How about stop spenidng on stupid shi*? How about having the government stop helping companies that go belly up every other day?
The dollar coin? One of the dumbest ideas ever...it simply amazes me...
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