Dollar Coin Vote?

[mjc3333]

Dollar Coin Vote


http://money.cnn.com/m/#!/2012/11/28/news/economy/dollar-coins-bills.json?category=Latest

 

[Randy]

Try this link, http://money.msn.com/business-news/article.aspx?feed=AP&date=20121130&id=15849848 I couldn't get the CNN link to open

 

[mjc3333]

Try Google Chrome or Fire Fox both will work with this link. IE9 seems to have a compatibility issue.

 

[JeffM]

I don't see why the switch hasn't already been made/the US mint has been reluctant to do more then a trial. Having a $1 and $2 coin in Canada has proven to be much more convenient from both a consumer and business point of view. Personally, when I visit the US, I don't like having $1 bills as change.

 

[JimmyJaffa]

The US dollar coin is poorly designed. It is too large, and too heavy. The Looney and tooney are lighter. If there is a switch to coins only, a redesign is imperative.

 

[I.B. Washincars]

It's hardly larger than a quarter . I can't see why the weight would be an issue since there really is no reason for anyone to get more than one of them in change. Frankly, I think if they just stopped circulating $1 bills it would hardly be a blip on anyone's radar screen.

 

[Earl Weiss]

I don't see why the switch hasn't already been made/the US mint has been reluctant to do more then a trial. .

Because there are plenty like me who would rather have 4 singles in a wallet than 4 coins in there pocket or haul 1000 singles to the bank instead of 1000 coins.

 

[Earl Weiss]

there really is no reason for anyone to get more than one of them in change..

????
You buy something for $1.00 or less with a $5.00 bill. No other bills or coins in your pocket. (Or various increments of the above like having only a $10.00 and needing between 4 & 5 dollars in change.) Wouldn't you get 4 dollar coins in change?

 

[I.B. Washincars]

Trust me, with all the people that are stuck on the greenback, banks will order more $2 bills and it will slide in the register in place of the $1 bill. Here is how you will get change.

$9 -5,2,2
$8 -5,2, coin, or more likely 4 twos
$7 -5,2
$6 -5, coin, or 3 twos
$5 -5
$4 -2,2
$3 -2, coin
$2- 2
$1 -coin

The only place that it will be necessary is when 1 or $3 is needed. "All those coins" means one.

 

[Earl Weiss]

Trust me, with all the people that are stuck on the greenback, banks will order more $2 bills and .....

OK, So I just need to trust you, trust the banks and... Santa, the tooth bunny and the easter rabbit

 

[I.B. Washincars]

I don't have much faith in those other guys, but I can be trusted. That being said, I have no faith in the govt. eliminating the dollar bill, so I doubt that I will be proven wrong

 

[mjwalsh]

I don't see why the switch hasn't already been made/the US mint has been reluctant to do more then a trial. Having a $1 and $2 coin in Canada has proven to be much more convenient from both a consumer and business point of view. Personally, when I visit the US, I don't like having $1 bills as change.

Fellow coin operators who want the dollar coins to be properly available,

Something told me to get up early this morning about 5:30 AM & listen to the verbal exchange on Thursday's Congressional hearing. Be prepared to allow almost 3 hours to thoroughly listen to the hearing's discussion. Remember, they are all "nice" people. ... I think.

http://financialservices.house.gov/c...EventID=312621

There were some serious misinformations that some of us should help clarify. One was a congresswoman who repeatedly said that the dollar coin is the same size as a quarter. Another was the inaccuracy that the dollar coin has been made available properly.

It was enlightening that it is somewhat common for over a billion dollars in quarters to be on standby for distribution. Keep in mind that that quarters storage means 4 times the number for the equivalent dollar coins, almost 3 times the weight & over 3 times(educated guess) the spatial storage space of dollar coins.

Another interesting fact that came out is that the FRB pockets their paper money seniorage whereas the Mint puts it back into taxpayer savings .... talk about a conflict of interest or what ... Of course the FRB has an extreme bias towards the paper money!

The Canadian testimony was also very enlightening.

Please stay tuned ... it may be our last chance to get this "lack of updating for inflation properly" fiasco corrected.

mike walsh king koin of bismarck

Continued

 

[mjwalsh]

continued from last post about Thursday's hearing ...

Hopefully, as many as possible of you agree with me that the FRB has a bias towards everything becoming all credit cards. Gee, I wonder why. Remember that the people in the FRB & close proximity to the FRB who have the most influence are bankers. What can save us is that our Constitution specifically says that it is Congress's responsible for coin & currency. That is ... if our U.S. Constitution is not also ignored along with a lot of other realities!

I am actually am a nice person & I don't just pretend to be one like some people. Just ask ... Bill Pitzer who had dinner with me about 2 years ago here in Bismarck & who would not let me pay for his meal ... no matter how much I argued with him!

mike

 

[mjwalsh]

Since I noticed that the posted link to the hearing got broken ... here is the corrected one that should work.

http://financialservices.house.gov/calendar/eventsingle.aspx?EventID=312621

 

[jimbeaux]

You know, I keep hearing people argue they don't want to carry many dollar coins around, they would rather carry dollar bills. I don't want to carry many $1 bills around and have a fat wallet!
I challenge you to count how many $1 bills you have in your wallet right now, my guess is it won't be over 2 or 3. Give me the dollar coins every time!

 

[Earl Weiss]

You know, I keep hearing people argue they don't want to carry many dollar coins around, they would rather carry dollar bills. I don't want to carry many $1 bills around and have a fat wallet!
I challenge you to count how many $1 bills you have in your wallet right now, my guess is it won't be over 2 or 3. Give me the dollar coins every time!

It's just 2-3 more coins I don't need in my pocket with the 2-3 each of quarters, dimes, nickels and pennies.

 

[Reds]

I'm with Earl.

 

[pitzerwm]

I'll say it again, 1 no one in our government has the brains to figure this out. The fact that most of the rest of the world has successfully switched to $1 & $2 coins doesn't prove anything to these morons. Having spent a lot of time outside the country in the last few years, I can attest that you never have a pocket full of coins. It just doesn't happen. Today, who even carries cash, I use the CC everywhere, including Burger King, etc. That is another area that we are behind the curve. In the rest of the world, your CC never leaves your hand, they bring a wireless unit to your table, you stick your card in it, it has a chip in it and you enter a pin, and no sig. In ATM's your US debit card don't even work because it has no chip in it. Their governments may be screwed but their technologies are ahead of us.

The only cash in my pocket is circulated at the casino.

 

[Earl Weiss]

Today, who even carries cash, I use the CC everywhere, including Burger King, etc. That is another area that we are behind the curve. In the rest of the world, your CC never leaves your hand, they bring a wireless unit to your table, you stick your card in it, it has a chip in it and you enter a pin, and no sig. .

Mr. Walsh the following is not directed to your personal mony management practices. I am sure you are on the ball with this.

IMNSHO one of the biggest contributers to people being in economic trouble is the irresponsible use of CC. So, in a sense, the widespread use is not neccessarily a good thing.

 

[pitzerwm]

Earl, You might have been directing that to me. While on the surface, your statement is right, but the blame is on a government that tells you that you can have everything without working for it or any coincidences for your stupidity. Just vote for me and I will take care of you. That is how someone with less credentials than any of us got where they got.

CCs are a tool you use it for good or use it for bad. You can't protect stupid and you can't fix it either. It might start with educating our youth, rather than spending 2x more than any other country to warehouse them for 12 years. They can't even do that right, with a 50% drop out rate.