The dollar coin option is important poll

[jimbeaux]

I have used the gold dollar since it came out and STILL LOVE IT! I do not dispense the quarter but do accept it. In todays inflated world the quarter should go the way of pennies, nickels, and dimes which I'm sure none of you accept.
The gold dollar does not get wet, wrinkled, creased or limp the way the $1 bill does.
Another point, I would much rather carry 10 gold dollars in my pockets than 10 dollar bills in my wallet or pocket! Do away with the $1 bill.

 

[Jeff_L]

I've contemplated to only dispensing $1 coins, but accepting both them and quarters. However, do you worry about the perception (real or unreal) of having more money out in the bays, vacs, and other money acceptance items? That would be one of my concerns, making me want to empty everything very frequently.

Thus, I've thought about just using tokens instead.

On another note, did anyone else hear on the news that the gov't is heavily weighing on the idea of increasing the amount of dollar coins in circulation? Evidently there is a limit to the amount of paper notes that can be in circulation at one time, but there is not restriction on coins. It was a quick news blurp I heard the other day and thought that was interesting.

 

[Reds]

Dollar coins are usefull in my situations like tolls lol. Personally in our area dollar coins are rarely used. We retired from retail industry. At our location we have bill acceptors and conventional quarters, no credit cards at SS only IBA. Personally i rather count bills than coins... quarters are already a pain to count .

I'm with txheat. And I too would like to see just bills, no coins.

 

[Tom Thumb]

When will the Gov't start listening to the people and quit telling us they know what we need.
They have warehouses full of Dollar coins and nobody wants them, but we keep spending dollar bills ever day.

As far as I am concerned they can do away with the dollar coin we get very few, I perfer quarters,dollar bills, fives,10's and 20's and CC.

 

[txheat]

I've contemplated to only dispensing $1 coins, but accepting both them and quarters. However, do you worry about the perception (real or unreal) of having more money out in the bays, vacs, and other money acceptance items? That would be one of my concerns, making me want to empty everything very frequently.

Thus, I've thought about just using tokens instead.

You are pretty much exposed either way, its just what you can do to deter them. But even that , if they gona take it they gona try to take it. I've seen on news some idiot wrap chain around a notable bank's ATM and haul it down the street with it.
Going back on bills vs coin, eventhough we have bill acceptor, our coins(quarters) is 68% vs 32% bills... wish it was the other way around...lol.

Btw, i also saw this post on "planet Laundry" forum with the same 2 screen names that instigating the poll.

 

[pitzerwm]

Here we had a couple genius take dad's new Toyoda pickup and wrap a chain around a bank ATM and take off. They yanked the rear wheels and axle out from under the truck and skidded into the street. Needless to say dad was more than ****ed. The cops were laughing so hard, they could hardly handcuff the two kids.

 

[mjwalsh]

Coins (dollars) is an improvement over just quarters

You are pretty much exposed either way, its just what you can do to deter them. But even that , if they gona take it they gona try to take it. I've seen on news some idiot wrap chain around a notable bank's ATM and haul it down the street with it.
Going back on bills vs coin, eventhough we have bill acceptor, our coins(quarters) is 68% vs 32% bills... wish it was the other way around...lol.

Btw, i also saw this post on "planet Laundry" forum with the same 2 screen names that instigating the poll.

txheat & others,

I hope you voted for the more sensible option one because you never know if you might want to change your mind & at that point you do want the distribution improved etc. Based on our recent transition we need to give out fewer quarters & the same will happen to the US Mint -- the fewer more costly to make quarters will also save the US Treasury needed money. Not a panacea ---- but every little bit of savings should be in everyone's favor. Everything that Earl Pomeroy said in the 2 minute clip was false ---- nobody would argue that between him & Lisa Myers they were extremely slick, polished & smooth talking --- too bad it didn't address why they were ordering too many --- so there was the over stockpile. Nor did it address why they didn't have a mechanism to penalize the banks that deliberately made an effort to not have them available & some even charged for them --- in certain parts of the country. I would not like them either if they weren't available in as straightforward of a way as quarters. From my perspective he is terribly out of touch --- that is why I made a bit of a spoof on "inflation is just a theory" The 2 choices on the poll made sense to the people who listened to the 2 minute clip carefully. My intent was to NOT create a chad situation like what happened in Florida that time!

http://www.clicker.com/tv/nightly-ne...money-1971413/

We definitely still like our ATM four months after. They really don't need to have any more money in them than bill to bill breakers & other changemakers or even possibly some express paystations at car washes. We give out 5s at ours. The customers that use banks that make it so there is not cost to use them tend to use it the most. ATMs can be purchased as in wall which would make the chain around less likely. Bill P's alarm kit could definitely be used at that point.

Below is the link to the laundry version of this poll that happened to go into way more depth --- I am hoping that in congress are good enough to take me up on the link & use it as a resource to become more informed.

http://www.planetlaundry.com/forum/showthread.php?t=7571

mike walsh king koin of bismarck

 

[rph9168]

Video on Dollar Coin Production

In a time when they are looking for budget cuts this should be a no brainer.

http://abcnews.go.com/WNT/video/coins-costing-taxpayers-14076274

 

[mjwalsh]

Improving does not mean unnecessary stockpiling!

In a time when they are looking for budget cuts this should be a no brainer.

http://abcnews.go.com/WNT/video/coins-costing-taxpayers-14076274

rph9168 & others,

The reason for my poll was to improve the Dollar Coin Total Process if anything. Where in any of these media reports --- are they showing that they could do better with how the distribution process occurs.

What in heaven's name was forcing them to make too many so they actually would have too much inventory to cause this taxpayer expense. That needs to be addressed! Why is there no disincentive when the banks refuse to help the government with known savings once they get out in the community --- our car washes, laundromats & other important settings where they are not so preoccupied with the lack of another slot within their till.

The proper thing to do is to correct these shortcomings & not say that the dollar coin does not have any useful purpose. As some have hinted because of inflation that has already occurred --- if anything it would better to just have dollar coin acceptance & get rid of the quarter & let the marketplace decide. Some operators have gone down the road with all tokens because of potential severe vandalism. As many posters have explained on the laundry & also this car wash forum --- when the dollar coins are presented properly --- the customers naturally gravitate towards their convenience.

Improving the dollar coins through less production since they now have a handle on the expected need --- is proper --- which is the same thing that other sensible manufacturers do. Also make sure that banks who benefit from the stability of our government & law enforcement like the rest of us --- should have some incentive to make sure they never drastically run out ---- what has & is "sad to say" --- what is currently happening now. 1.5% percentage charge to a regular bank customer definitely is another cause for less government savings at the federal level.

Correcting should not & does not need to be an all or nothing proposition. Use of anything often becomes a niche use & it still will save that proportion of dollar bills & quarters that will not need to be made --- making both fewer helps the budget --- & for sure does not hurt the budget --- based on proven studied facts!

So by WRONGFULLY supporting #2 it points us towards the process of continuing the subtle discouragement of the usage of the dollar coin which in turn will actually make the overall use of cash more expensive than if the dollar coins were encouraged. Any truly budget minded & business friendly person who has studied the whole picture should know continuing to support the dollar coin at the proper rate ---- is what would be in the best interest of the country. If demand goes up --- then the US Mint can tap into that reserve that temporarily got out of hand! First come first serve -- collector individuals-- can get the more popular President only if they are quick enough --- the earlier less popular Presidents will be in surplus standby status!

mike walsh king koin of bismarck

 

[mjwalsh]

WAY MORE SERIOUS that any of us thought for losing a viable option!

PLEASE reconsider not choosing to vote --- we need as many as possible for the 1st option,

Where in the poll or in any posts was ramming even implied???? It really is unfair to suggest that. The Bill P is wisely allowing this post to continue & I am grateful that he is trusting us to keep the posting within the proper range. If he sees something out of range I trust that he will notice it & inform us properly. The CLA is very familiar with the legislative process as I have experienced first hand in our state of North Dakota with Brian Wallace with his letter of support against gross tax on all services (instead of net) for which the groundwork was clearly being laid back in 2003 & 2005 etc.

It is also extremely easy to become overwhelmed with legislation that we know in our hearts is not in the best interest of all self service car & dog wash owners regardless of how the payments from their customers are structured. Since I started this poll --- I have repeatedly asked that it would ---- not be card vs dollar coin. It was about the potential elimination of what could turn out to be our best option (DOLLAR COINS) based on our actual positive dollar coin experiences such as what Larry & mysef have experienced & also many self service laundromats & other vending entities --- especially if a wide variety of unforeseen & unaddressed card negative issues surface. In other words this specific poll is based on something closer to the truth ---- than certain lawmakers --- who appear to be latching on to a budget cutting frenzy --- which in reality --- points toward aggravating the economy even worse!

This is way more serious than I thought --- there is actually in both the Senate & the House very serious groundwork (already 2 bills proposed) not only about discontinuing the President Coins immediately but also melting down the existing surplus that the people who happened to be in power & still are ---- allowed to happen on their watch in the first place. They clearly caused it to happen by ordering too many to be made prematurely. They also caused it to happen by NOT having the proper disincentives for banks that did not make them available in a reasonable way!!!

Google --- Democrat Representative Jackie Speier ---- & you will see what we are up against when it comes to the dollar coin option ceasing to exist for us.

Google --- Republican Senator David Vitter ---- this guy could be just as bad in relation to misleading other lawmakers concerning the dollar coins.

They & others are comparing it to the Eisenhower Dollar discontinuation.

As some us know from first hand experience neither party has a total monopoly on legislation that is not in the interest or potential interest of many of us & our country in general!

mike walsh king koin of bismarck

 

[mjwalsh]

Option One Does Makes Sense!!!!

Fellow Thoughtful Forum Members,

This poll & posts --- are also in this case for hopefully visitors visiting in good faith who will keep an open enough mind so they understand the consequences of proposed legislation --- that is now actually a current process --- by the two lawmakers I specifically mentioned & their co-sponsors who specifically have the dollar coin elimination in their crosshairs with the misguided belief that it will help the economy --- which is simply not true. The lawmakers are again: David Vitter of Louisiana & Jackie Speier of Northern California.

In my defense ---- I am sure that there is no wording of a poll that will match everyone's style. The poll was connected to a 2 minute interview which I specifically had called attention to --- from the "get go" of the poll. The dollar coin problem can be corrected by improving the availability both from the banks & in our facilities which both Larry & myself made clear --- thus the 1st option. The 2nd option is to shed light on the need --- to not ignore inflation & to show the childishness of "don't like" dollar coins & wanting to deprive others who actually "do like & prefer" the dollar coin OPTION.

http://www.gpo.gov/fdsys/pkg/CHRG-107shrg81563/html/CHRG-107shrg81563.htm

The above link is the transcript of the hearing where the Golden Dollars were discussed. Even without the dollar bill being eliminated --- if the recommendations of James C. Benfield would have been followed --- the dollar coins would be helping both the economy & the budget --- it is still not too late to correct the mindless overproduction etc.

Hopefully, within the above link you will see the facts that the ICA presented & that most certainly still apply. James C. Benfield had established himself as being instrumental in our usage & codification of our Daylight Savings Time just before he got involved in the dollar coin. DST was & continues to be controversial. The fact despite its somewhat controversal nature ---- is that it was worthwhile to have established it by way of many millions of barrels of oil & other forms of energy saved. The same applies to the number of more costly quarters & one dollar bills that will not have to be made. I am sorry --- but this is simple arithmetic.

mike walsh king koin of bismarck

 

[pitzerwm]

The fact that anyone in Washington is considering getting rid of the dollar coin, just shows how pitiful our political system has degenerated too.

When inflation makes something useless, smart people quit using them. Just like it apparently cost more than a penny to make a penny but
Washington insist that it be continued to be made. Just like the paper dollar. Most countries in the world have dollar and 2 dollar coins that work just fine, but not us.

With all of the problems this country has, this is what is "the issue". God we are so screwed.

 

[ted mcmeekin]

The dollar coin is deader than a doornail--don't think you guys will convinve real people to use--it is over--a dumb poll will not change that--the people have spoken over and over again--are you listening--if not run for congress. We accept all, we take in almost none-- the dollar coin is truly a big joke. Get it over it.


Ted

 

[mjwalsh]

Our Experience with the Dollar Coin is the Customer Prefers Them

The dollar coin is deader than a doornail--don't think you guys will convinve real people to use--it is over--a dumb poll will not change that--the people have spoken over and over again--are you listening--if not run for congress. We accept all, we take in almost none-- the dollar coin is truly a big joke. Get it over it.


Ted

Ted & others,

Simple equation: No dollar coins available at your or similar facility --- of course few or no dollar coins being used or taken in --- very little to do with like or dislike. Your experience reflects that.

Simple equation: High percentage of dollar coins available at our or similar facility --- dollar coins are preferred --- ease of use --- easily distinguished between them & quarters. Large proportion of dollar coins used & taken in. Our experience reflects that.

What tips the scale is as Bill P. said is proportional cost for the Government to make the higher face value coins vs the lower face value coins is less. There is where the taxpayer waste of money could occur if the right path is not followed. Especially during tight budget times.

Creating an unnecessary over inventory & causing taxpayer expense because of it is a completely separate issue! Creating an incentive for banks to handle the gold dollar coins is more feasible than creating an incentive for the lower more costly to make coins. There simply is more margin to work with --- a simple fact supported by statements made by experts at the 2002 hearing where the ICA presented. Most of what the ICA presented still holds true today. Below is the complete transcript of the hearing:

http://www.gpo.gov/fdsys/pkg/CHRG-10...7shrg81563.htm

James C. Benfield who I distinctly remember posting on this forum in its early days before he passed away at the age of 59 --- also showed that this ease of use translates into more economic activity. This has also been our experience vs if we had just stayed with quarters & dollar bills!

mike walsh king koin of bismarck

 

[Earl Weiss]

James C. Benfield who I distinctly remember posting on this forum in its early days before he passed away at the age of 59 --- also showed that this ease of use translates into more economic activity. This has also been our experience vs if we had just stayed with quarters & dollar bills!

mike walsh king koin of bismarck

You lost me there. I have no idea why dollar coins are easier to use than dollar bills. Further, the bill acceptors don't just accept one dollar bills, but 5's, 10's and 20's which the coin option does not provide. Can you give some reasons why dollar coins are easier to use than ones? How about 5 or 10 dollar coins versus a single bill?

 

[I.B. Washincars]

I'm with txheat. And I too would like to see just bills, no coins.

I wish Santa Claus was real, but I can't make that happen.

You could just remove your coin acceptors if you don't want to deal with coins.

What most CW people fail to realize is that the dollar coin is a replacement for four quarters at the car wash, not the dollar bill. That's why it works so good at a wash. There are no more ticked off customers because they got 10 or 20 bucks worth of quarters they didn't want(use to happen every single day), almost no one chases me down to break a big bill (will never know how many didn't bother and just left), they plunk them in the slot 4 & 5 at a time (never happened with quarters). The only down side is that we have to go to the bank and buy them.

You guys that don't use them don't know what you are talking about when you act like they are the stupidest thing that the goverment ever did. They were/are actually needed. Not dropping the dollar bill is the stupidest thing they did, well regarding this subject anyway. If the dollar bill disappeared tomorrow, a month later no one would even be talking about it.

Earl, why do you "need" to carry a bunch of pennies in your pocket?

 

[mjwalsh]

Based on our experience info --- the dollar coin option

You lost me there. I have no idea why dollar coins are easier to use than dollar bills. Further, the bill acceptors don't just accept one dollar bills, but 5's, 10's and 20's which the coin option does not provide. Can you give some reasons why dollar coins are easier to use than ones? How about 5 or 10 dollar coins versus a single bill?

Earl & others,

If you & others just have the narrow focus of the 1,5,10 bill acceptors in the bays in a climate where doors (greater wetness) are not necessary --- you might have a point. We find that we actually do gain some overall reliability with the coin drops over the bill acceptors. For instance hot humid summer day makes the bills soggy just in the customers billfolds ---wet muddy gritty hands on coins have less affect than on bills. That has been our experience. In the dog wash I observe people having an easier time if their hands are wet from the dog wash --- dollar coins are easier. Our Cummins 2000 counter like Kevin Reilly also has --- is a quicker sort/count process for us vs too many one dollar bills. We avoid having to buy an expensive bill sorter counter if we take in too many bills. I would prefer not to have to mount bill acceptors with our severe North Dakota weather on our outside vacuums. Ours & many others have other equipment such as large washing machines in a laundromat where it is not available or practical to mount a dollar bill acceptor. Coin boxes don't fill up as much than if there is only quarters.

So in short, the bill acceptors are not practical on all equipment in some facilities with just quarter acceptance --- now you have the less "ease of use" with the customer being forced to handle 4 times as many coins.

Sure there is the alternative of putting in between 50-75 in house card swipes or credit card but we all know that some locations may not support that kind of upfront & ongoing expense! I do not see too many people bragging about the John Coleman or similar style central paystation so we are pretty cautious there.

Hopefully, this answers the question about "ease of use" for both the customer & some operators. It may not apply to you though that is why I am hoping that the sentiment here is to keep the dollar coin just for the fact we hopefully look out for each even though the "ease of use" may not specifically apply to our specific operation. Remember we are somewhat unique considering what we have to work with.

The evidence that the taxpayer is also better off considering what Bill P said about the cost per in proportion to its value etc. To me it eases my conscience knowing that we tried to do our part in that respect also. Hopefully, that is a fair paraphrasing of what Bill P said --- otherwise hopefully he will catch me like another one of his cats on the freeway & let me know!!!

Where the heck has Kevin Reilly been? --- I really do miss him & his ability to sort out some of the inaccuracies that sometimes show up in the posts that could potentially hurt us overall. Is there a real lulu law that could potentially effectively eliminate the important dollar coin option --- in the event we are not united enough to deter those specific lawmakers? --- David Vitter & Jackie Speier & others I believe by their position will weaken any industry that the gold dollar coin might be a better fit for --- including the self service car & dog wash industry.

mike walsh king koin of bismarck

 

[MEP001]

Perhaps if you can get Oprah elected as President she can help you get the dollar coin into better circulation.

 

[Earl Weiss]

I wish Santa Claus was real, but I can't make that happen.

You could just remove your coin acceptors if you don't want to deal with coins.

What most CW people fail to realize is that the dollar coin is a replacement for four quarters at the car wash, not the dollar bill. That's why it works so good at a wash. There are no more ticked off customers because they got 10 or 20 bucks worth of quarters they didn't want(use to happen every single day), almost no one chases me down to break a big bill (will never know how many didn't bother and just left), they plunk them in the slot 4 & 5 at a time (never happened with quarters). The only down side is that we have to go to the bank and buy them.


Earl, why do you "need" to carry a bunch of pennies in your pocket?

I would drop coin acceptors in a heartbeat except that then I am locked into dollar increment pricing. Not so bad for the bays, but I think it would be an issue with vacs and vending.

I don't "need" to carry more than 3 pennies, but the darn things somehow seem to keep multiplying. I don't need to carry more than thre quarters but the same thingseems to happen

 

[Reds]

Everyone has a personal opinion on this issue. But if you want a read on what the general public thinks of dollar coins just go to McDonalds, Burger King, or your local Cstore and ask them to change a $5 into $1 coins. You may get an idea of how popular they really are. And most likely the coins you get will be quarters.