Dollar Coins as Common as Quarters Process

[mjwalsh]

Just in case some of us self service operators still want to keep the payment option of something other than just through the almighty credit card company. http://www.cnn.com/2013/11/28/us/one-dollar-coins/index.html#comment-1145668229

 

[Reds]

I think the American public voted on the dollar coin issue when big brother tried to foist the Susan B and the Sacagawea on us. They were both overwhelmingly rejected by the public.

 

[chaz]

Would you rather carry a few paper bills, or a few dollar coins. I take both at my wash and CC, too. Not until/if the paper dollar is dropped will the dollar coin be widely used.

 

[robert roman]

Codified currency, mobile payment, online payment, 3-second processing and technology that support these things forever dooms coins to an inconvenient collection of change clanking away in one’s pocket that eventually goes into a piggy bank at night.

 

[Earl Weiss]

I like the "Unwanted and unloved" line

 

[mjwalsh]

Girls & Boys,

The following is based on someone who "despite the obstacles" has properly made the goldie dollar coins available to his customers since the year 2000.

The anti dollar coin car wash owner by not wanting the dollar coins to be as common as quarters is guilty of:

1. Forcing his customers & other citizens to pay more taxes because of the proven long term savings from using the more durable coins vs "the all too often wet" won't work one dollar bill. Or worse yet ... is party to increasing the USA yearly deficit & consequently the overall USA debt.

2.Do their ciustomers a disservice by not giving them the option to use the much more straight forward coin than 4x &/or 8x &/or 20x quarter only arrangement. If they have stopped the availability of the coins ... it most certainly has the same net effect.

3. The operator has increased his dependency on "CyberSpace" transactions & thereby on those specific "power brokers & interests".

mike walsh king koin USA

 

[MEP001]

Let's put this supposed $150 million a year savings into perspective. Annual federal spending is at $3.5 trillion right now. If you had a bag containing ten tons of $1 coins and you wanted to lighten the load, would taking 55 coins out of the bag really make a difference? Surely more money could be saved somewhere else.

 

[Earl Weiss]

Girls & Boys,



The anti dollar coin car wash owner by not wanting the dollar coins to be as common as quarters is guilty of:

1. Forcing his customers & other citizens .......

2.Do their ciustomers a disservice


3. The operator has increased his dependency on "CyberSpace" transactions & thereby on those specific "power brokers & interests".

mike walsh king koin USA

Wholly Shmoly, this rivals the JFK assasination conspiracies. Call Jesse Ventura. He has been running TV exposes on all sorts of stuff like this. I think this is as important to publicize as all the alien abductions.

 

[MEP001]

I agree. Our customers WANT to pay by credit card. I can't in any way see that offering them what they want being a disservice. By his reasoning we should remove all functions and just offer high-pressure soap and rinse in the bays.

 

[mjwalsh]

You guys like a bunch of others are trying to paint a picture like as if the dollar coin had a fair chance ... like it did in the other countries. Nobody said anything about eliminating credit card but I did say something about too much dependence on credit card only & on the no longer practical one dollar bills based on much better & more thorough studies than the people pretending to have gone through the process.

Are you people saying that it was not worthwhile for other countries like Canada & Australia to do what they have done when it comes to the properly adjusting of the coin & currency in relation to inflation?

It proved wrong to assume that the distribution of the coins would be done properly without positioning the $5 bills as the $1 bill was before ... in relation to inflation. From my perspective & many others ... the better evidence shows that specific error in our recent USA history should be corrected.

The pro dollar coin comments to the CNN article along with hopefully proper action by Congress is a positive for a greater percentage of us ... especially self service car wash operators. Even if a percentage of their gross revenue is "CyberSpace" driven.

If the customers in your area want credit cards ... this legislation is not stopping any of us from doing that.

mike walsh king koin usa

 

[MEP001]

You guys like a bunch of others are trying to paint a picture like as if the dollar coin had a fair chance ... like it did in the other countries. Nobody said anything about eliminating credit card but I did say something about too much dependence on credit card only & on the no longer practical one dollar bills based on much better & more thorough studies than the people pretending to have gone through the process.

You're portraying credit card companies as evil. You're even spinning dollar bills as bad in that comment. Why did you bring up credit card acceptance at all except to put a bad side on something to make dollar coins look better?

It proved wrong to assume that the distribution of the coins would be done properly without positioning the $5 bills as the $1 bill was before ... in relation to inflation. From my perspective & many others ... the better evidence shows that specific error in our recent USA history should be corrected.

How is it better evidence? What makes it a specific error?

The pro dollar coin comments to the CNN article along with hopefully proper action by Congress is a positive for a greater percentage of us ... especially self service car wash operators. Even if a percentage of their gross revenue is "CyberSpace" driven.

Again, "proper action" that fits your agenda.

How much of this proposed $150 million in savings a year will be eaten up by the transportation costs added by replacing dollar bills with dollar coins?

 

[robert roman]

Forget Congress, Mike, look at the evidence.

Since 2007, the vending industry took a dump from 1.4 million locations with sales of $47 billion to 1.3 million locations with sales of $43 billion.

This is a 7 percent drop in locations and 9 percent drop in industry revenue. During this period, the number of vending operators dropped by 14 percent.

Since 2000, self-service (wands) took a dump from 32,500 locations with sales of $2.7 billion to 25,500 locations with sales of $1.3 billion.

This is a 22 percent drop in locations and 52 percent drop in industry revenue.

In two years, the number of vendors that upgraded to bill acceptors increased from 17.5 percent to 29 percent. The number that upgraded to remote monitoring increased from 10 percent to 14 percent.

In 2007, one million quarters went through vending machines every five minutes. Today, this number is 860,000. Moreover, annual demand for quarters in self-service dropped from 10 billion to 5 billion.

Hence, you get legislation like H.R. 1719 to reduce the cost of producing a commodity in decline.

 

[Earl Weiss]

Are you people saying that it was not worthwhile for other countries like Canada & Australia to do what they have done

I am saying that dollar coins in the USA are unwanted and unloved. Jamming it down peoples throats is not a desireable alternative.

There may have been issues such as Sac's being to similar to quarters in size and appearance as opposed to unique Bi Metal appearance and size of some Canadian coins that made them unwanted and transferred to successors.

Perhaps a uniquely interesting coin in appearance - 2 tone and size might be the answer but this would render all the old ones obsolete which is a huge cost from many perspectives.

 

[rph9168]

I think the Canadians got it right when they nicknamed the dollar coins as "loonies".

 

[mjwalsh]

How much of this proposed $150 million in savings a year will be eaten up by the transportation costs added by replacing dollar bills with dollar coins?

Mep, That transportation cost was already more than factored in by the 7 GAO studies. It seems like the only arguments left is the fictitious pants falling down from a few ounces of dollar coins in a pocket & the mind-dumbing "identical in size to a quarter" misrepresentation.

Robert, Your statistics are revealing. I guarantee you ... that the reality of the lack of proper availability of the dollar coins since the year 2000 has not helped the self service car wash cause any. It has been even more disastrous for the self service laundromat industry. You think I am kidding about the carpal tunnel (quarters only) health problem perpetrated on my fiercely independent customers who need to use a bunch of larger self service commercial washers during the same washing session ... guess again! It would be nice to shine some light instead of just cursing the darkness & presenting "credit card only, wet paper one dollar bills & tokens" as all blue sky.

As far as the linked CNN article & the intense interest shown in the few days that it has been online ... I clicked on "sort on the best" ... Altair's Canadian experience & anti inflation point of reference has 674 likes so far & only 15 dislikes!

mike walsh http://kingkoin.com/USA_Deficit_Reduction.html

 

[Earl Weiss]

the mind-dumbing "identical in size to a quarter" misrepresentation.

http://kingkoin.com/USA_Deficit_Reduction.html

First, Apologies. Prior post should have referenced Susan B Dollars, not Sacs.

Quarter Diameter 24.26 MM

Dollar Diameter 26.5 MM

2.24 MM difference = 88/1000s of an inch

Yep, Huge difference.

 

[Reds]

"If the customers in your area want credit cards ... this legislation is not stopping any of us from doing that"

And what if they want to keep their $1 bills instead of a pocket full of change?

 

[mjwalsh]

First, Apologies. Prior post should have referenced Susan B Dollars, not Sacs.

Quarter Diameter 24.26 MM

Dollar Diameter 26.5 MM

2.24 MM difference = 88/1000s of an inch

Yep, Huge difference.

Earl, How many times do I & others have to explain that the size difference in mm between a quarter & a nickel is very similar without the advantage of the "goldie" color. The argument of higher value (more risk if confused) doesn't hold water because normal reasonable people will consider inflation that has already taken its toll. Besides you fail to mention the thickness factor & the difference in edges which help those who use braille on a daily basis. BTW we have braille on our ATMs & headphone jack audio as per the new requirements.

mike walsh http://kingkoin.com/USA_Deficit_Reduction.html

 

[mjwalsh]

"If the customers in your area want credit cards ... this legislation is not stopping any of us from doing that"

And what if they want to keep their $1 bills instead of a pocket full of change?

Reds, Please don't let the vast majority of our friends up in Canada know that we are soooo sooo dense that we don't understand that there is never a need to carry more than a few coins at any one time. I mingle with my customers possibly more than most operators & have been personally ready with change in my pocket ... for customers ... for an even quicker exchange than the automated Standard Bill Changers ... for over 40 & even over 50 years. If anything ... the higher value coin alleviates the need for so many quarters.

It is not like I am not familiar with bill acceptors ... we have 13 actually in use but see their value in the future in accepting $2s,$5s, $10s, & $20s saving on their wear & tear. From our experience, there clearly is more maintenance on these devices with more moving parts & electronics than coin acceptors ... especially when they are relied upon a way too much for the lower value $1 bill.

mike walsh http://kingkoin.com/USA_Deficit_Reduction.html

 

[MEP001]

normal reasonable people

I ask again since you didn't address it last time, those of us who think that lobbying for easier access to dollar coins is a waste of time are abnormal and unreasonable? I think if you reasearch and understand Aspergers Syndrome that you'll find you're the abnormal and unreasonable one.