I’ve been spending dollar coins lately, and I’m pretty certain I’m the only one within a 50-mile radius who is using them. How can I tell? Because every cashier stares at it blankly as if I had just handed her a coonskin cap. They look at me as if to say, “What is this and what am I supposed to do with it?” So, if you’ve never seen a dollar coin before, I encourage you to click on the picture to the left and familiarize yourself with it.
Maybe someday we’ll do away with dollar bills and then everyone will know about dollar coins. After all, when you think about the purchasing power of a dollar these days, it really is nothing but pocket change. Just like it would be silly to have a fifty-cent bill or a ten-cent bill, it’s ridiculous in the 21st century to have dollar bills. Replacing dollar bills with coins would save the government lots of money in printing, and it would make buying things from a vending machine a whole lot easier.
A number of years ago when the Susan B Anthony hard dollars came out I was the Postmaster of Abingdon. All postmasters were required to acquire from local banks daily several rolls of these coins and give them out. It was not a pleasant experience for me or my employees. Folks would refuse them and sometimes say unpleasant or nasty things to us. After a couple of weeks of complaints nationwide our bosses pulled back on their directive and we returned to normal. C.J to you I say good luck with your coin crusade, but I don’t think this pig will fly.
I use the dollar coins in place of a single dollar, but if I’m getting something for $4.50, I use four dollars and a couple quarters, which is why most people don’t want to give up the dollar bill. Since it’s only paper, and much cheaper and easier to produce, transport, and handle, etc. than coins, what’s the harm in continuing to have dollar bills?
Mouse, Paper dollars are far more costly than coin dollars, the switch would save millions of dollars a year.
A coin has the average life span of over 30 years in circulation, the average paper one only lasts for a year or less.
But the only way to change is to remove the paper, none of this “lets get people to slowly like the idea” crap, just yank the paper and in the span of a year people won’t remember the difference. Sure there will be a lot of whimpering in the first few months, but, like gas prices, in a year people won’t think anything of the change.
CJ:
I get about a roll of these a month to spend – the first roll I saved – even though it’ll never be worth more than it is now. When I travel, I usually use these and have gotten some strange looks from a few but I have found most people just put them away. One of the more interesting response I’ve received is: “I hate these coines becuase I don’t have any place to put them in the cash register.”
While I like them, they are harder to carry in large quantities. A roll of these in your pocket — will get you funny looks.
I’d like to see the US Government pull all paper dollars in favor of the dollar coin – eliminate the penny completely — and add a $2 bill.
Wait, people still use REAL MONEY?
Yeah…sometimes Eyebrows! I have a hard time debiting/charging any item under $5…..bad enough that I’m spending $3 for a coffee at Starbucks – least I can do is fork over real dollars for it.
As a woman my purse is already heavy enough. Adding more weight with coins in a pain in the neck, literally.
The Congressional Budget Office said in 1995:
Per year! That’s $4.5 billion over thirty years — the average life of a coin. We’d still have $2 and $5 notes to carry around if we didn’t like the coins or if they’re too heavy. Seems like a no-brainer to me.
“Wait, people still use REAL MONEY?”
Not since America went to Federal Reserve Notes.
Silly Americans, Canada has had 1 and 2 dollar coins for years and they work just fine and you do not have more weight to carry around. How many people walk around with 7 or 8 1 dollar bills? I think following suit with a 2 dollar coin would also be a good idea.