Would you support the move toward the dollar coin?
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Originally Posted By: CTownIntegra
It's also useful to note that dollar coins are debt-free currency issued directly by the government (Treasury), whereas Federal Reserve Notes (paper money) are debt-based currency issued by the same banksters that caused the mortgage crisis.
Are you concluding that a dollar coin has more value than a dollar bill? I hope not...
While the distinction is true that the treasury mints coins and the Federal Reserve prints actual paper money, the logistical and economic impact is of no distinction (unless you believe conspiracies that the Fed is evil and out to get everyone) because the Fed is the body that determines production and circulation of coins.
"The Federal Reserve's role in coin operations is more limited than its role in currency operations. As the issuing authority for coins, the United States Mint determines annual coin production. The Reserve Banks, however, influence the process by providing the Mint with monthly coin orders and a 12-month rolling coin-order forecast. The Mint transports the coin from its production facilities for circulating coin in Philadelphia and Denver to all of the Reserve Banks and the Reserve Banks' coin terminal locations.
The Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand. While the Reserve Banks store some coin in their vaults, they also contract with coin terminals to store, process, and distribute coin on behalf of the Federal Reserve. Armored carrier companies generally operate the coin terminals; the coin terminals have improved the efficiency of the coin-distribution system."
It's all a moot point because money is an abstract (it historically has no intrinsic value - even ardent supporters of the gold standard like Lew Rockwell and Lyndon LaRouche say gold as money has no intrinsic value), and we will most likely have all digital based money in my life time (I'm only 33).
http://www.federalreserve.gov/paymentsystems/coin_about.htm
It's also useful to note that dollar coins are debt-free currency issued directly by the government (Treasury), whereas Federal Reserve Notes (paper money) are debt-based currency issued by the same banksters that caused the mortgage crisis.
Are you concluding that a dollar coin has more value than a dollar bill? I hope not...
While the distinction is true that the treasury mints coins and the Federal Reserve prints actual paper money, the logistical and economic impact is of no distinction (unless you believe conspiracies that the Fed is evil and out to get everyone) because the Fed is the body that determines production and circulation of coins.
"The Federal Reserve's role in coin operations is more limited than its role in currency operations. As the issuing authority for coins, the United States Mint determines annual coin production. The Reserve Banks, however, influence the process by providing the Mint with monthly coin orders and a 12-month rolling coin-order forecast. The Mint transports the coin from its production facilities for circulating coin in Philadelphia and Denver to all of the Reserve Banks and the Reserve Banks' coin terminal locations.
The Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand. While the Reserve Banks store some coin in their vaults, they also contract with coin terminals to store, process, and distribute coin on behalf of the Federal Reserve. Armored carrier companies generally operate the coin terminals; the coin terminals have improved the efficiency of the coin-distribution system."
It's all a moot point because money is an abstract (it historically has no intrinsic value - even ardent supporters of the gold standard like Lew Rockwell and Lyndon LaRouche say gold as money has no intrinsic value), and we will most likely have all digital based money in my life time (I'm only 33).
http://www.federalreserve.gov/paymentsystems/coin_about.htm
Originally Posted By: GearheadTool
Originally Posted By: JHZR2
Are we going to discuss removing the penny next?
Alsready happening.
http://www.dailypaul.com/264525/us-mint-...ng-january-2013
http://goldsilver.com/news/bid-farewell-to-pennies-and-nickels/
I did some research and couldn't find anything confirming this. I did trace back a couple of sources until it eventually led to this.
http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843
I knew it seemed to make too much sense too fast for them to be doing such a thing.
Originally Posted By: JHZR2
Are we going to discuss removing the penny next?
Alsready happening.
http://www.dailypaul.com/264525/us-mint-...ng-january-2013
http://goldsilver.com/news/bid-farewell-to-pennies-and-nickels/
I did some research and couldn't find anything confirming this. I did trace back a couple of sources until it eventually led to this.
http://www.sutori.com/phpbb/viewtopic.php?f=81&t=1719&p=2843#p2843
I knew it seemed to make too much sense too fast for them to be doing such a thing.
Right now the dollar coin doesn't really work because there isn't a compartment for it in cash registers. In the past, it didn't work because it was too close to the quarter (Susan B. Anthony dollar) or because the government issued it to be a money maker (the presidential coins) but instead they just got stuck in a warehouse losing money.
There was a post office around here that used to give them as change, as well as a movie theater. Other than those two places, nobody even wants to see them when you give them the coin for a purchase. Properly issued, the dollar coin could save the U.S. money.
There was a post office around here that used to give them as change, as well as a movie theater. Other than those two places, nobody even wants to see them when you give them the coin for a purchase. Properly issued, the dollar coin could save the U.S. money.
I support $1 coins. I happen to have 6 of them in my pocket right now. I'm not listing to starboard even a tiny bit.
My ONLY wish is that the designs were more inspired than politically correct. The approval committee are the lamest in the history of the US. I'd like a standing liberty, or perhaps a seated liberty coin. That would be great. Heck, anything other than the playdough-looking Sacagawea or no-details faces of the presidents.
My ONLY wish is that the designs were more inspired than politically correct. The approval committee are the lamest in the history of the US. I'd like a standing liberty, or perhaps a seated liberty coin. That would be great. Heck, anything other than the playdough-looking Sacagawea or no-details faces of the presidents.
This is the only nation I know that is obsessive with paper bill and up to $20 only. Coin is durable and easy to work with in vending machine. IMO it is the best to have most purchase done in either coin or credit / debit / RFID card and skip the paper bill, and the annoying personal check for small retail purchase.
Originally Posted By: Kruse
Right now the dollar coin doesn't really work because there isn't a compartment for it in cash registers.
How about the compartment where the dollar bill used to go?
Right now the dollar coin doesn't really work because there isn't a compartment for it in cash registers.
How about the compartment where the dollar bill used to go?
How about you phrase the question like this?
Do you support the dollar coin?
OR
Do you want to pay more tax?
Do you support the dollar coin?
OR
Do you want to pay more tax?
Originally Posted By: D189379
Originally Posted By: Kruse
Right now the dollar coin doesn't really work because there isn't a compartment for it in cash registers.
How about the compartment where the dollar bill used to go?
How about eliminating pennies?
Originally Posted By: Kruse
Right now the dollar coin doesn't really work because there isn't a compartment for it in cash registers.
How about the compartment where the dollar bill used to go?
How about eliminating pennies?
NO
Originally Posted By: D189379
How about you phrase the question like this?
Do you support the dollar coin?
OR
Do you want to pay more tax?
That should be the advertising campaign for the coin. That would change a majority of peoples mind right there. I doubt in my lifetime I will see the change (and I'm only 24). But is interesting to see the reasons why people support or do not support the move.
rshaw125, what is your reason for a NO?
How about you phrase the question like this?
Do you support the dollar coin?
OR
Do you want to pay more tax?
That should be the advertising campaign for the coin. That would change a majority of peoples mind right there. I doubt in my lifetime I will see the change (and I'm only 24). But is interesting to see the reasons why people support or do not support the move.
rshaw125, what is your reason for a NO?
From a purely Oz perspective...
We got rid of 1 and 2 c pieces ages ago, and everything was rounded to the nearest 5...not because of inflation and devaluimng of the currency, just that 1 and 2c copper were too expensive (and I used to get 2 lollies for a cent when I was a kid)...it now works pretty OK...pay cash, 1 and 2 round down, 3 and 4 round up.
Got dollar coins, and 2 dollar coins, and at the time people collected unreleased 10 packs of 1 and 2 dollar notes.
Coins are useful, came back from a buck's night the other day, and had $12 in change.
I would welcome a $5 coin in Oz, maybe not a $10...Why ?
Govt mint makes the coins, and sells them at a profit (face value minus metal value), no interest on them...
As to the collectors value thing mentioned before, they made the 5c, 10c, 20c scaleable in terms of weight, and the 50c worth maybe 30, then added special designs to the 50s, encouraging hoarding (we do, our kids do), and profiting basically 20c(ish) out of every hoarded "special" coin...got no problem with that, I can still buy 50c worth of stuff with them.
The $1T coin is an awesome extension of both the concept of making money on the face value of the coin versus metal value, AND the collectible side of things...who but the Fed would be able to say that they have the special $1T limited edition coin ?
...well at least for a couple of months, then we'd all have them, like my Zimbabwe note.
We got rid of 1 and 2 c pieces ages ago, and everything was rounded to the nearest 5...not because of inflation and devaluimng of the currency, just that 1 and 2c copper were too expensive (and I used to get 2 lollies for a cent when I was a kid)...it now works pretty OK...pay cash, 1 and 2 round down, 3 and 4 round up.
Got dollar coins, and 2 dollar coins, and at the time people collected unreleased 10 packs of 1 and 2 dollar notes.
Coins are useful, came back from a buck's night the other day, and had $12 in change.
I would welcome a $5 coin in Oz, maybe not a $10...Why ?
Govt mint makes the coins, and sells them at a profit (face value minus metal value), no interest on them...
As to the collectors value thing mentioned before, they made the 5c, 10c, 20c scaleable in terms of weight, and the 50c worth maybe 30, then added special designs to the 50s, encouraging hoarding (we do, our kids do), and profiting basically 20c(ish) out of every hoarded "special" coin...got no problem with that, I can still buy 50c worth of stuff with them.
The $1T coin is an awesome extension of both the concept of making money on the face value of the coin versus metal value, AND the collectible side of things...who but the Fed would be able to say that they have the special $1T limited edition coin ?
...well at least for a couple of months, then we'd all have them, like my Zimbabwe note.
Originally Posted By: GearheadTool
Originally Posted By: JHZR2
Are we going to discuss removing the penny next?
Alsready happening.
http://www.dailypaul.com/264525/us-mint-...ng-january-2013
http://goldsilver.com/news/bid-farewell-to-pennies-and-nickels/
I think it would be a mistake to remove nickels, simply because dimes and quarter won't work well together.
If anything, once nickles run out or low, remint them as coins that are smaller, like about penny sized or smaller, yet distinguishable enough from the dime.
The dime's my favorite coin, very small and compact. I think it has a higher dollar/mass density than quarters. Nickels are the opposite, almost as heavy as quarters but with minimal value.
Rounding to the nearest 5 cent increment would be the best solution.
As for the dollar bill, I think it's highly practical, lighter and more compact than a quarter. If the dollar was minted as coin again, it should have a different format than the current dollar coin, and not be much heavier than a dime. Anyways, there are way too many machines (from food dispensers in the hall, to bus and train fare collectors, that use the dollar, and there is very little reason to get rid of that bill imo.
Originally Posted By: JHZR2
Are we going to discuss removing the penny next?
Alsready happening.
http://www.dailypaul.com/264525/us-mint-...ng-january-2013
http://goldsilver.com/news/bid-farewell-to-pennies-and-nickels/
I think it would be a mistake to remove nickels, simply because dimes and quarter won't work well together.
If anything, once nickles run out or low, remint them as coins that are smaller, like about penny sized or smaller, yet distinguishable enough from the dime.
The dime's my favorite coin, very small and compact. I think it has a higher dollar/mass density than quarters. Nickels are the opposite, almost as heavy as quarters but with minimal value.
Rounding to the nearest 5 cent increment would be the best solution.
As for the dollar bill, I think it's highly practical, lighter and more compact than a quarter. If the dollar was minted as coin again, it should have a different format than the current dollar coin, and not be much heavier than a dime. Anyways, there are way too many machines (from food dispensers in the hall, to bus and train fare collectors, that use the dollar, and there is very little reason to get rid of that bill imo.
Kestas
Staff member
Originally Posted By: ueberooo
I think it would be a mistake to remove nickels, simply because dimes and quarter won't work well together.
Good point.
I think it would be a mistake to remove nickels, simply because dimes and quarter won't work well together.
Good point.
JHZR2
Staff member
Originally Posted By: Mr_Incredible
My ONLY wish is that the designs were more inspired than politically correct. The approval committee are the lamest in the history of the US. I'd like a standing liberty, or perhaps a seated liberty coin. That would be great. Heck, anything other than the playdough-looking Sacagawea or no-details faces of the presidents.
Totally agree. Why we cannot maintain good, classic designs like we had forever is beyond me. Id love another seated liberty design.
My ONLY wish is that the designs were more inspired than politically correct. The approval committee are the lamest in the history of the US. I'd like a standing liberty, or perhaps a seated liberty coin. That would be great. Heck, anything other than the playdough-looking Sacagawea or no-details faces of the presidents.
Totally agree. Why we cannot maintain good, classic designs like we had forever is beyond me. Id love another seated liberty design.
If they made the dollar coin just like the English pound coin, I think it would go over good. You know by feel and weight that you have a pound coin in your pocket. It even has a distinct Ching to it when you rattle your pocket.
No.
Candy and Tammy would not be appreciative when it "rains" coins.
Candy and Tammy would not be appreciative when it "rains" coins.
Originally Posted By: surfstar
No.
Candy and Tammy would not be appreciative when it "rains" coins.
If they could vote on it, I'm sure most all of the exotic dancers would want all paper money under $5 to go away. Years ago, I read in the news that some bartenders in stripper bars would give the change in $2 bills whenever you bought a drink. I can assure you that I have no idea if that is true or not.....
No.
Candy and Tammy would not be appreciative when it "rains" coins.
If they could vote on it, I'm sure most all of the exotic dancers would want all paper money under $5 to go away. Years ago, I read in the news that some bartenders in stripper bars would give the change in $2 bills whenever you bought a drink. I can assure you that I have no idea if that is true or not.....
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