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Old 02-16-07, 10:05 PM   #1
phantomcow2
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The new dollar coin

Yes, they are trying it again. I don't know if you've heard, but there will be new dollar coins released. Similar to how we have quarters with states on it, there will be quarters for presidents. What are your thoughts on this?
I've not seen a sacagawea coin in a long time. Once I tried paying with one and the cashier did not accept it because she did not know what it was. I kind of hope this new coin works out
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Old 02-16-07, 10:20 PM   #2
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I would like to see a dollar, and 5 dollar coin, BUT:

I want a distinct weight and size that vending machines can use, so it doesn't get confused with a quarter.
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Old 02-16-07, 10:27 PM   #3
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It's time dollar coins go mainstream.

In a related vein, how long will we continue to use pennies?
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Old 02-16-07, 10:38 PM   #4
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a penny saved is a penny earned?
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Old 02-16-07, 10:47 PM   #5
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Quote:
Originally Posted by Velo Vol
It's time dollar coins go mainstream.

In a related vein, how long will we continue to use pennies?
Funny thing is each penny costs more than a cent to produce. It'll be around as long as the Zinc/Lincoln Industrial Complex exists.
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Old 02-16-07, 10:50 PM   #6
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Okay, here's an idea you'll really hate. But think really hard about it before you trash it.

I thought this up when I was about 9 years old. Our social studies teacher challenged us to come up an idea that would make life easier for blind people.

I came up with the idea of coins to replace paper money, because you can't tell a one from a five by feel.

I suggested very small coins, the size of a dime or a penny - but made of either plastic or some metal lighter than existing coins. I thought there should be $1, $2, $5, and $10 coins, all the same size.

To be able to tell different valued coins apart, each denomination would have a distinct pattern of holes punched in them - the LARGER the value, the FEWER holes.

The advantages would be you could carry a lot of money in coins without being weighed down, and you easily tell their values by feel.

Every time I see a new design for a dollar coin, I remember the paper I wrote and wish I had kept it!
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Old 02-16-07, 10:57 PM   #7
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I think dollar coins are a good idea, but I don't think they'll catch on too fast. I think 50 cent pieces also need to be used more. I used to go to my bank and get some 50 cent pieces and buy stuff with them, just to be different.

I had one of the sacagawea coins once, but I tried to scrape all the gold coating off of it.
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Old 02-16-07, 11:05 PM   #8
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Quote:
Originally Posted by Velo Vol
It's time dollar coins go mainstream.

In a related vein, how long will we continue to use pennies?

Quote:
People have strong feelings about their money, even the penny.

A congressional effort to reduce the need for the cent piece failed even though it costs more to produce the copper-colored coin than the coin is worth.

When people were asked whether the penny should be eliminated, 71 percent said no, according to the poll of 1,000 adults conducted Nov, 28-30. Some fear that getting rid of the penny will cause product prices to be rounded up, perhaps increasing inflation.
From here.
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Old 02-17-07, 01:00 AM   #9
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At some point the public is going to recognize that the hassle isn't worth a few cents.

Why are people paying to use ATM machines?
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Old 02-17-07, 01:05 AM   #10
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I always have trouble with coins falling out of my pockets. I wouldn't have any money if it was all coins.
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Old 02-17-07, 01:25 AM   #11
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^ Could start up a whole new profession: checking couches and seats for loose change!
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Old 02-17-07, 01:33 AM   #12
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I will believe that the govenment is serious about getting us to use $1 coins when they stop printing $1 bills. If that was done, we'd all be using the coins within a matter of months because paper bills, on average, do not last very long.

It's kind of like our namby-pamby efforts to convert to the metric system. The secret: no "break in" period. Simply start putting up the highway signs, etc., as fast as the budget allows. Guess what? People will complain, and they will adapt.
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Old 02-17-07, 01:35 AM   #13
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I don't understand American money.... all the currency is the same size and color, regardless of denomination, and $1 and $2 denominations are almost worthless. American loves their small bills.
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Old 02-17-07, 02:02 AM   #14
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Quote:
Originally Posted by filtersweep
I don't understand American money.... all the currency is the same size and color, regardless of denomination, and $1 and $2 denominations are almost worthless. American loves their small bills.
that's because we are a bunch of broke asses
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Old 02-17-07, 06:40 AM   #15
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Quote:
Originally Posted by filtersweep
I don't understand American money.... all the currency is the same size and color, regardless of denomination, and $1 and $2 denominations are almost worthless. American loves their small bills.
Vending machines
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Old 02-17-07, 07:50 AM   #16
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How do vending machines that accept paper money in Europe work? Euros are sized differently by denomination. Different colors too.


Anyway, I kind of like the idea of dollars made of ??metal??. They'll last MUCH longer.

I too have a problem with coins falling out of my pockets, especially when driving. I'll be driving down the road and hear a clink-clink sound as the coins hit the floor. Sometimes I forget to check under and behind the seat when I get out of the car. Does this mean I should give up driving?
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Old 02-17-07, 07:55 AM   #17
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No, just PayPal me your coins before you get in the car.
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Old 02-17-07, 07:55 AM   #18
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I think the only way the dollar coin will work is if they actually stop printing dollar bills.
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Old 02-17-07, 07:58 AM   #19
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Coin

I keep a Sagagewa (sp?) coin in my seat bag on my bike rides. One, I'm never completely out of money and then you've got that whole Lewis and Clark exploring thing...
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Old 02-17-07, 09:07 AM   #20
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Only if the make it a bigger coin like the old 50 cent pieces from years ago to distinguish if from a quarter like those old Susan B Anthony dollars people confused with quarters and gave out!
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Old 02-17-07, 09:50 AM   #21
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How does the American money system work> IS it 1c 5c 10c 25c 50c all in coing then $1 $5 $10 &50 $100 in notes?

What we have in Aus, which works well, is 5c 10c 20c 50c $1 $2 in coins and then $5 $10 $20 $50 $100 in coins. The differenr coins are all different size (with $1 and $2 being gold coloured) and thwe notes being different size (the smaller the value the smaller the coin)
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Old 02-17-07, 01:31 PM   #22
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It's 1c, 5c, 10c, 25c, 50c, and $1 in coins with $1, $2, $5, $10, $20, $50, and $100 in notes.
50c, $1 coins, and $2 notes are uncommon.

Is it more expensive to have coin or note dollars with the value of metal being what it is these days?
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Old 02-17-07, 01:36 PM   #23
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It's more expensive to print dollars, because their lifespan isn't very long. They have to print a bunch of notes to last as long as a coin lasts.
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Old 02-17-07, 01:38 PM   #24
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I like coins (being in canada)..I can put them in a crown royal bag and feel like I am living in the world of the dark ages. Pull out my sword and wap...yehaw.
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Old 02-17-07, 02:05 PM   #25
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I like coins (being in canada)..I can put them in a crown royal bag and feel like I am living in the world of the dark ages. Pull out my sword and wap...yehaw.
Agreed! I have quite a collection of Loonies and Toonies!
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