http://www.npr.org/2011/06/28/137394348/-1-billion-that-nobody-wants
I bet this has something to do with it. And they keep producing them because no one has told them to stop!
Posted on 02/01/2012 6:46:31 PM PST by opentalk
Sens. John McCain (R-Ariz.) and Tom Harkin (D-Iowa) have introduced legislation that would permanently discontinue the $1 dollar note and replace it with a coin.
Harkin and McCain penned The Currency Optimization, Innovation and National Savings (COINS) Act in response to reports from the nonpartisan Government Accountability Office (GAO) that indicate that abandoning the note could save around $5.5 billion over the next 30 years. Specifically the COINS Act would require that Federal Reserve Banks discontinue the $1 note four years after enactment or once circulation of $1 coins exceeds 600 million annually.
(Excerpt) Read more at thehill.com ...
I don’t give a damn about tracking, I won’t use a debit card because it doesn’t get entered in my check register, I never carry a check book.
The banks on either side of the border were charging 2 cents exchange. We would spend every last CAD in Canada before we crossed back into the US.
I think it was early in the 1980s the CAD was only worth about $0.70 USD.
Some con-artists took USD and bought Canadian Travelers Checks north of the border. Then they drove south to Missouri or even further south and spent them like US Travelers Checks.
It worked like a charm, but they had to get out of town before store owners took them to the local bank. The next day there were signs in almost every store in town but it was a day too late by then.
I bet you do sell a great danish. :)
I’ve been enjoying the presidential dollar coins series, but basically, they are curiousities and collectables at best. Dollar and up coins went out with powdered wigs. Thanks opentalk.
I just found three 1979 Susan B Anthonys and one 1980. How do I find out how much they are worth?
I’m all for this. While they are at it, and freeing up a cash register slot, how about bringing out some $500 bills? They can dump the penny and nickel too.
Well, well, well...another reason why...
Legislatures (state and federal) could be part-time jobs with 1/10th pay, NO retirement, NO insurance, NO benefits and NO perks. These POS politicians can get a full time job doing something productive not progressive. Their part-time job could be spent DEFUNDING/DISMANTLING socialist collectives, foreign and domestic (our government in particular).
—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
Alter it.
Hey, McCain & Harkin! Save real money...FOREVER. DEFUND socialist collectives, foreign and domestic.
All we need to do is DEPOPULATE socialists and RINOS (Republicans Implementing Nuances Of Socialism) from the body politic. Our money will be saved. Our country will be saved. Our taxes will be low.
live - free -republic
Many, if not most vending machines already take dollar coins. The dollar coins are a heck of a lot easier to feed into a vending machine than a moderately worn dollar bill.
If you do it—make the coin bigger than a quarter—maybe the size of an old half dollar—thats why the dollar coin failed—size—and while your about it—dump the ladies. They were not presidents—Presidents should be on a dollar coin. Might I suggest John Adams, James Garfield, even Teddy Roosevelt.
I guess I didn't pay much attention to the news in those days.
These two boneheads need to be removed from circulation.
Look on the back. It should say one dollar somewhere.
LOL
The dollar coins are larger than a quarter just not enough for most people.
Presidents don’t belong on coins. I am so sick of dead presidents on our coins. Women were on our coins from 1790’s until 1940’s I am OK with lady liberty being on our coins. In fact I prefer it. F men they are worthless. Lets get back to beautiful coins that depict something meaningful like liberty.
I think a coin that even just looked like the old silver dollar would be accepted. It was kind of big though, bigger than a half dollar.. oh wait we don't have those any more either. But those silly quarter sized dollar coins were ridiculous.
We even had $20 gold coin at one time.
“Besides...if there are no more $1 bills, how are we going to show our appreciation to pole dancers?”
I don’t know, but if it happens you had better use “warmed up” coins or risk being slapped!
Lady Liberty—I can get behind that!
Ebay will probably give you a quick answer.
It would not only be accepted, it'd be taken out of circulation as soon as people could get their hands on it. Why? Because there are 31.1 grams in one Troy oz., and silver is now trading at over $33.00/tr. oz. Any price above $31.10, and Gresham's law comes into play.
FWIW, our monetary system is a farce. Inflation has continuously eroded the purchasing power of our currency, and the metal content of our coins reflects that. It is to the point that the metal value of the large cent introduced in 1792 exceeds the metal value of the current $1.00 coin! I personally favor lopping a zero off of the currency (and every contract denominated in dollars) and then immediately going to some kind of a system that would back our money with something that is beyond the control of government...like precious metals. Of course, we'd have to combine that with a sane fiscal policy, or the exercise would be pointless. However, if we did those things then your proposal would make sense - in fact, we could go back to circulating dimes, quarters, halves and dollars with silver in them to restore confidence in our system. Obviously, we'd need an adjustment in the silver content vs. the pre-1965 system, because that system was based on silver at less than $1.29/oz. Either that, or forget the precious metals idea and just lop off 2 zeroes. That way, there'd be no need to recall existing coins - just use them as is. Yes, it'd be a windfall for a few people with lots of coins, but most people have less than a couple hundred coins sitting around.
I hope they don’t do this, think how heavy your purse or pocket will be, no thanks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.