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Post by Deleted on Sept 19, 2015 11:07:42 GMT -5
Why get rid of a dollar bill for a dollar coin though? What are the benefits of coins? I get that it would be cheaper in the long run as coins can stay in circulation much longer than bills but personally convenience of use trumps that. Honestly, I don't find dollar bills very convient at all.. What can you buy with $1? It makes far more sense to me for it to be loose change  . Crap from the break room at work. Unfortunately. |
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Post by Deleted on Sept 19, 2015 11:09:12 GMT -5
If the U.S. got rid of the $1 bill, we'd lose the only depiction of a woman we have on currency or coinage in this country -- Barbara Bush.
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Post by Slam_Bradley on Sept 19, 2015 11:37:36 GMT -5
Why get rid of a dollar bill for a dollar coin though? What are the benefits of coins? I get that it would be cheaper in the long run as coins can stay in circulation much longer than bills but personally convenience of use trumps that. It's cheaper. Coins essentially last forever. But in practice they circulate for 30+ years. The lifespan of a dollar bill is 18-22 months. They print over 16.5 million dollar bills per year, mostly to replace worn bills that are shredded. They are a huge drain on the monetary system. While we're at it we can get rid of pennies and nickles. They no longer serve a purpose. |
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Post by Hoosier X on Sept 19, 2015 11:50:13 GMT -5
Why get rid of a dollar bill for a dollar coin though? What are the benefits of coins? I get that it would be cheaper in the long run as coins can stay in circulation much longer than bills but personally convenience of use trumps that. It's cheaper. Coins essentially last forever. But in practice they circulate for 30+ years. The lifespan of a dollar bill is 18-22 months. They print over 16.5 million dollar bills per year, mostly to replace worn bills that are shredded. They are a huge drain on the monetary system. While we're at it we can get rid of pennies and nickles. They no longer serve a purpose. I was watching A Tree Grows in Brooklyn last week. It's set about 1905 (I'm guessing) and there's a scene where they go to the bakery at closing time to buy the day-old bread and it sounded to me like they bought six loaves of bread for a penny. Which made me wonder how currency worked way back when. What if you didn't want six loaves? What if you wanted one loaf, or just a few slices of bread? How did currency work when you could buy so much for a penny? If you didn't buy a whole penny's worth of goods, would the grocer put it on your account? |
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Post by Deleted on Sept 19, 2015 13:15:13 GMT -5
It's cheaper. Coins essentially last forever. But in practice they circulate for 30+ years. The lifespan of a dollar bill is 18-22 months. They print over 16.5 million dollar bills per year, mostly to replace worn bills that are shredded. They are a huge drain on the monetary system. While we're at it we can get rid of pennies and nickles. They no longer serve a purpose. I was watching A Tree Grows in Brooklyn last week. It's set about 1905 (I'm guessing) and there's a scene where they go to the bakery at closing time to buy the day-old bread and it sounded to me like they bought six loaves of bread for a penny. Which made me wonder how currency worked way back when. What if you didn't want six loaves? What if you wanted one loaf, or just a few slices of bread? How did currency work when you could buy so much for a penny? If you didn't buy a whole penny's worth of goods, would the grocer put it on your account? With any luck, you still had some half-cents around from a century or so earlier ... en.wikipedia.org/wiki/Half_cent_(United_States_coin) |
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Post by wildfire2099 on Sept 19, 2015 14:57:50 GMT -5
Honestly, I don't find dollar bills very convient at all.. What can you buy with $1? It makes far more sense to me for it to be loose change . Crap from the break room at work. Unfortunately. And wouldn't that be easier with a coin to stick in the slot, instead of fighting with the dollar bill thing? |
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Post by Deleted on Sept 19, 2015 15:22:09 GMT -5
Why get rid of a dollar bill for a dollar coin though? What are the benefits of coins? I get that it would be cheaper in the long run as coins can stay in circulation much longer than bills but personally convenience of use trumps that. Honestly, I don't find dollar bills very convient at all.. What can you buy with $1? It makes far more sense to me for it to be loose change . Lots of stuff you can buy for less than five bucks though. That's an awfully high denomination to start with. |
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Post by Slam_Bradley on Sept 19, 2015 15:34:59 GMT -5
Honestly, I don't find dollar bills very convient at all.. What can you buy with $1? It makes far more sense to me for it to be loose change . Lots of stuff you can buy for less than five bucks though. That's an awfully high denomination to start with. And yet Canada gets along just fine without a dollar bill. Pretty sure that Australia does as well. |
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Post by thwhtguardian on Sept 19, 2015 15:40:30 GMT -5
Why get rid of a dollar bill for a dollar coin though? What are the benefits of coins? I get that it would be cheaper in the long run as coins can stay in circulation much longer than bills but personally convenience of use trumps that. It's cheaper. Coins essentially last forever. But in practice they circulate for 30+ years. The lifespan of a dollar bill is 18-22 months. They print over 16.5 million dollar bills per year, mostly to replace worn bills that are shredded. They are a huge drain on the monetary system. While we're at it we can get rid of pennies and nickles. They no longer serve a purpose. I understand that, and it makes sense from a purely fiscal stand point, but I think the issue is use. I use singles taking the train pretty often, and buying food at ball games two three times a month during baseball season and bills are convenient; I can stick 20 or so in my wallet with out any discomfort and I couldn't do that with a pocket full of change. |
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Post by Deleted on Sept 19, 2015 17:06:43 GMT -5
Crap from the break room at work. Unfortunately. And wouldn't that be easier with a coin to stick in the slot, instead of fighting with the dollar bill thing? Ummm ... there aren't any machines. I suspect, though, that the companies that make dollar-changing machines have the wherewithal to buy a few congressmen if need be to ward off any move to do away with the lower currencies. |
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Post by wildfire2099 on Sept 19, 2015 18:59:36 GMT -5
Ahh, I assumed you meant vending machines. I don't think vending machine makers have a lobby, Dan.. that's just a little too cynical |
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Post by Deleted on Sept 19, 2015 20:20:45 GMT -5
Lots of stuff you can buy for less than five bucks though. That's an awfully high denomination to start with. And yet Canada gets along just fine without a dollar bill. Pretty sure that Australia does as well. They have the coin. We have the coin too. Thing is nobody likes it so nobody uses it. Whattayagunnado? |
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Post by Slam_Bradley on Sept 19, 2015 20:32:18 GMT -5
And yet Canada gets along just fine without a dollar bill. Pretty sure that Australia does as well. They have the coin. We have the coin too. Thing is nobody likes it so nobody uses it. Whattayagunnado? Stop making dollar bills and they're going to use it. Problem solved. |
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Post by thwhtguardian on Sept 19, 2015 21:32:43 GMT -5
They have the coin. We have the coin too. Thing is nobody likes it so nobody uses it. Whattayagunnado? Stop making dollar bills and they're going to use it. Problem solved. Would they though? I mean, I guess if even if they didn't it wouldn't matter fiscally as the end result would be the same; less paper money. I can't imagine I'd use dollar coins, even if they were the only dollar. I just don't like loose change, the only time I use it is when I've collected enough in my ash tray to pay a toll and then I unload it and I doubt that would change just because the denomination grew larger. Having a coin be worth more wouldn't change the fact that it would still be annoying to carry around in any usable quantity |
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Post by Deleted on Sept 19, 2015 22:40:03 GMT -5
Couldn't the same be said for the hundred dollar bill though? Why not a coin? They save money in the long run.
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