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How many singles have you carried around with you at any one time?

Nixon Coming to the One Dollar Coin

At 2/14/07 09:10 PM, notld224 wrote: Three options...

Good to see some fresh blood in the radical thinking department.

4) Everyone in the world switches to internet currency.

At 2/14/07 08:59 PM, jonthomson wrote:

At 2/13/07 05:17 PM, JMHX wrote: Now, a dollar and can't buy much these days - even a drink at my Student Union building runs $1.25

You and your crazy cheap everything over there.

$1.25 is certainly not cheap to ME, but I am miserly as all Hell.

Anyway, UPDATE: The new dollar coins seem to be doing okay, and if you find one with an error that's several hundred dollars in your pocket.

How about we just move to a completely electronic funds system? You would still keep the bills, but since most people would be paying electronically you would not need to produce as much physical currency, thus a reduction in production costs.

For it to completely consume the economy, paper money would have to be phased out over time.

I have yet to see the John Adams dollar coin.

I wanted to collect them and all I have is the Washington.

I try to save all my $1 bills anyway, so it wouldn't be a problem for me.

I wouldn't mind. You wouldn't have to worry as much about having to fold and straighten and refold and restraighten bills to get the bill accepter in vending machines to take it.

At 2/14/07 09:21 PM, mrblonde7395 wrote: You forgot one thing... A lot of coins = a shitload of jingling and heavy weight in wallet,purse,satchel,etc.-.-

;
Nothing nicer than getting up after a nite at the pub & finding 8 coins in your pocket, that total $16.00.
Better than some quarters, dimes & nickles.

It also makes saving change add up Fast.

Well yeah, that's the obvious way to do it. You have to force people to change if they're too dumb to do it on their own.

America needs to invest in the peso.

At 2/13/07 10:31 PM, JMHX wrote: It wouldn't be pleasant changing out the bills for the coins over the first few years, but if we are really desiring some kind of economic common sense in our currency policy, dropping the penny and the dollar bill are the quickest ways to make up nearly half a billion dollars in wasted money.

Half a billion in wasted money? Our government wastes 2,800 billion dollars of our money every year. The benefit that I see, as a citizen, is effectively nothing, while the costs incurred by the changes will be large.

1. I don't want coins in my wallet. A stack of 20 bills is flat enough that I don't even notice a difference in the size of my wallet. A pile of 20 quarters is unwieldy, troublesome, and downright annoying as it damages my wallet and pokes into me when I sit down.

2. When you mix coins and bills, handling money becomes much, much more annoying. Dimes, nickels, pennies, and often quarters can be easily ignored in transactions, but dollar bills/coins are only awkward. I'm half Canadian, so I've spent quite a bit of time across the border; loonies are significantly more annoying to handle and keep than dollar bills. They may be relatively small and thin compared to the pattern of our coins, but they are simply inconvenient and hard to keep track of.

3. Every citizen has to deal with the annoyances and frustrations of your attempted change, but the net benefit is effectively insignificant overall. For all the trouble, sore bottoms, and damaged wallets, what do the American citizens get for this change? $1 per year, each.

A very direct cost/benefit analysis as a male citizen of the United States has led me to conclude that I do not want to eliminate the dollar bill in favor of coins. I will gladly continue to donate $1 per year to the government to ensure that enough $1 bills stay in circulation.

In fact, I will even donate a further $1 per year to even out the cost and keep the penny in circulation as well. Hell, I'll just hand the government $200 in taxes this year and call the cost covered for my lifetime. The other couple thousand I give? They can keep it for whatever they want, but I expect to see $1 bills in my wallet and pennies in my jar.

At 5/30/07 10:25 PM, Draconias wrote: 2. When you mix coins and bills, handling money becomes much, much more annoying. Dimes, nickels, pennies, and often quarters can be easily ignored in transactions, but dollar bills/coins are only awkward. I'm half Canadian, so I've spent quite a bit of time across the border; loonies are significantly more annoying to handle and keep than dollar bills. They may be relatively small and thin compared to the pattern of our coins, but they are simply inconvenient and hard to keep track of.

I'm just wondering how you handle currency storage. Do you file it according to mass or something? I just keep bills in my wallet and coins in my pocket. At night, I put the coins next to my wallet, and all is right with the world.

A very direct cost/benefit analysis as a male citizen of the United States has led me to conclude that I do not want to eliminate the dollar bill in favor of coins. I will gladly continue to donate $1 per year to the government to ensure that enough $1 bills stay in circulation.

But in theory, shouldn't you also cover the costs for people who do want a change, or people who don't care whether you use coins or not?

Bills are costly to maintain and aren't durable at all, especially ones of low denomination that get handled a lot like ones and twos. Seriously, using coins is not that big of a fucking deal. And if you're so against coins and inconvenience, why are you in favour of keeping the penny around? It seems inconsistent.

Americans must be mega-retarded or something.

Here we replaced the 2 bills with coins in 1996, all the governement had to do was retire dollar bills whenever retailers would cash them into banks.

How hard is that? We didn't have a choice to use the coins, because no one would hand 2 bills back.

And yeah, FUCK THOSE STUPID PENNIES.

At 5/30/07 10:50 PM, Elfer wrote: I'm just wondering how you handle currency storage. Do you file it according to mass or something? I just keep bills in my wallet and coins in my pocket. At night, I put the coins next to my wallet, and all is right with the world.

And what could be more inefficient and awkward? Wallets are for holding money. Pocket coins jingle, incessantly, and wallet coins mess up your wallet. Pocket coins are very poorly contained, can't be organized, and can easily be lost. Wallet coins bulk up your wallet too much. $1 bills, on the other hand, make no noise, sit flat in your wallet, stay in place, can be easily organized in bill stacks, are hard to lose, and match the rest of the system of bills.

With minor coins, tossing them into a jar each night is fine, but $1 coins just creates a hell of a lot of trouble for something that isn't worth any of the money that is saved.

But in theory, shouldn't you also cover the costs for people who do want a change, or people who don't care whether you use coins or not?

Why would I ever do that? This is America, land of individual empowerment and pay-your-own-damn-bills. I expect every single one of those people to pay their share as well, and if they are actively opposed to it just imagine that their share is being switched out to another cause and Chuck Norris is picking up the tab.

Bills are costly to maintain and aren't durable at all, especially ones of low denomination that get handled a lot like ones and twos. Seriously, using coins is not that big of a fucking deal. And if you're so against coins and inconvenience, why are you in favour of keeping the penny around? It seems inconsistent.

In all the time from 1990 to when the $2 was discontinued, I only ever saw two people have or use a $2 bill. It is redundant and entirely pointless because the $1 bill is common and requires less change-making. The $2 bill is rightly dumped; however, the $1 bill is fairly durable and if necessary can be redesigned to make it more durable. I sure don't usually have $1 bills disintegrating on me ever, so I have no reason to care about the durability.

Using coins is an inconvenience and particularly annoynig for an amount as important as $1. All that matters here is that the cost, all the annoyance, cost of switching over, and habit changing, is smaller than the benefit, $1 per year. The same is true of pennies, where the cost is an undercut of the money system, increased complexity for purchases, increased money loss from stores rounding up, a counter-intuitive pay system, and just the loss of Lincoln, for the same benefit, $1 per year.

Regardless of what stupid ideals or penny-pinching (would you prefer "nickel-pinching"?) are driving you to want the system changed, the costs incurred by changing the system outweigh the nearly insigificant benefits. Too bad for you.

Using the case of one to generalize to the whole, ah, logical fallacy.

At 5/31/07 11:09 AM, Draconias wrote:

At 5/30/07 10:50 PM, Elfer wrote: I'm just wondering how you handle currency storage. Do you file it according to mass or something? I just keep bills in my wallet and coins in my pocket. At night, I put the coins next to my wallet, and all is right with the world.

And what could be more inefficient and awkward? Wallets are for holding money. Pocket coins jingle, incessantly, and wallet coins mess up your wallet. Pocket coins are very poorly contained, can't be organized, and can easily be lost.

Ok, so I don't know how to phrase this more nicely, but are you really that incompetent? It seems like people really blow tiny inconveniences out of proportion to stay with a more familiar system.

With minor coins, tossing them into a jar each night is fine, but $1 coins just creates a hell of a lot of trouble for something that isn't worth any of the money that is saved.

Keeping two or three coins in my pocket isn't that big of a deal. If you just spend the coins as you get them (i.e. don't buy a coffee with large bills every day), it's not a big deal. I very rarely have more than say, a total of four loonies and toonies in my possession at any time. If anything, we need to eliminate lower denomination coins, those are the ones I end up throwing in a jar.

Why would I ever do that? This is America, land of individual empowerment and pay-your-own-damn-bills. I expect every single one of those people to pay their share as well, and if they are actively opposed to it just imagine that their share is being switched out to another cause and Chuck Norris is picking up the tab.

Ah, so the cost for those people is covered by "imagination". I see now. So what you're saying is, everyone else should be paying your bill because you want an inconvenient system that still applies to everyone.

In all the time from 1990 to when the $2 was discontinued, I only ever saw two people have or use a $2 bill. It is redundant and entirely pointless because the $1 bill is common and requires less change-making.

Yeah, they were porbably more popular here because of the period when there was a dollar coin but no two dollar coin.

The same is true of pennies, where the cost is an undercut of the money system, increased complexity for purchases, increased money loss from stores rounding up, a counter-intuitive pay system, and just the loss of Lincoln, for the same benefit, $1 per year.

How much money could you really lose from stores rounding up? I'd think at most a nickel every time you go to the store, but if they round properly, it would be 2.5 cents at most and you'd get that back half the time. They wouldn't need to change the prices, they'd just need to put one extra line of code in the registers. It would be just as intuitive and simple as it is now, but without pennies.