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  Topic: No, Switching To Dollar
Coins Would Not Save
The Government Money
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No, Switching To Dollar
Coins Would Not Save
The Government Money

National Public Radio, by Jacob Goldstein

Original Article

Posted By:KarenJ1, 11/30/2012 11:27:35 AM

I have a bowlful of coins sitting on my bedside table. I do not have a bowlful of dollar bills sitting on my bedside table. Obviously. Weirdly, this profoundly boring fact is significant. It is the reason — the only reason — that getting rid of the one-dollar bill and forcing everybody to use dollar coins would provide a financial benefit to the federal government. Here´s why. It costs less than $1 to create a dollar coin or a dollar bill. As a result, the government makes a profit when it puts coins and bills into circulation.
Intro corrected by staff

Comments:
Who knew it was possible to agree with something from NPR.

      


Post Reply  

Reply 1 - Posted by: plex, 11/30/2012 11:36:16 AM     (No. 9041310)

Who knew that NPR has someone with a brain.

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Reply 2 - Posted by: tennman, 11/30/2012 11:41:42 AM     (No. 9041317)

Been tried twice that I can recall. Both massive flameouts. But then this is the government still confirming the classic definition of stupidity.

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Reply 3 - Posted by: woofwoofwoof, 11/30/2012 11:56:44 AM     (No. 9041338)

It´s an absurd claim that it would save a significant amount of money.

OTOH, I really wouldn´t mind so much, I´d be happy with some larger coin denominations, too, at least up to $20, could even be a silver-blend with about $10 worth of silver in it.

Unfortunately gold is so expensive now, even a $100 coin could not have a significant amount on it.

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Reply 4 - Posted by: Pete Stone, 11/30/2012 12:16:32 PM     (No. 9041392)

The problem is that the dollar is just fiddling small change these days. Its value now is about equal to a dime fifty years ago. It´s a pain in the rear pulling dollar bills out of a wallet. I really would prefer $1 and $2 coins. Five and ten dollar coins with some silver in the alloy would also make sense, as #3 pointed out. As I write this, silver is trading at $33.66 an ounce. A sterling silver coin about the size of a dime (2 grams) would be worth about $3.11. It would make a usable $5 coin while allowing for fluctuations in silver prices. It´ll never happen, though, because it would be an admission of how much our Congress and Presidents have allowed our money to be debased.

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Reply 5 - Posted by: Lefticide, 11/30/2012 12:16:58 PM     (No. 9041395)

Wanna save money? Here´s an idea...Stop spending it!

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Reply 6 - Posted by: italianlooks, 11/30/2012 12:44:43 PM     (No. 9041447)

This is just a precurser to the AMERO, the common currency idea for Mexico, Canada and the good old USA...Europe anyone! The slippery slope is upon us! 96% of what voted for Obama...

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Reply 7 - Posted by: jerseyden, 11/30/2012 1:00:47 PM     (No. 9041480)

Get rid of the penny and nickel first. That would be a real saving.

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Reply 8 - Posted by: choey, 11/30/2012 1:03:33 PM     (No. 9041492)

Gee, I wonder whose picture would be on it?

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Reply 9 - Posted by: Rafter, 11/30/2012 1:14:10 PM     (No. 9041512)

It is amazing that this keeps coming up.

Usually it´s regarding the penny.
That is still with us.

Why mess with the dollar bill?
Heard Neal Boortz and Erick Erickson today
(on the Boortz radio show)
say ridiculous nonsense against the dollar bill.
If you don´t like the dollar bill, don´t use it.

Try finding a dollar coin these days instead. Good luck.
People don´t use ´em and don´t seem to like ´em.

Funny how a Neal Boortz, who prides himself on being Libertarian, gets excited about
forcing an unpopular change on others.
Based on his personal prejudices and quirks.
Busy body and gadfly.

It never ends.

Regarding inflation (changing values over decades)...
The dollar of fifty years ago was not worth anything compared to a hundred years before.
So what?
That´s always true.
And we still have the penny.

Git yer knickers in a twist over something else, whydoncha?

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Reply 10 - Posted by: Blackeagle, 11/30/2012 1:15:07 PM     (No. 9041514)

Ban paper currency altogether - they are full of germs and human fluids.

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Reply 11 - Posted by: mindyourbubble, 11/30/2012 1:16:13 PM     (No. 9041517)

I agree. Canado has both $1 and $2 coin.
The only one to benefit fron the current clothe fiber substrate is the Crane Paper Company in Mass. The life of a 1 dollar note is about 8 months. Banks fill up their "Mutt" container with ones all the time. A mutt is short for mutulated notes. Coins last on average about 38 years. But all in all what diferrence does it make. A buck doesn´t even buy a Snickers full size bar anymore or even a cup of coffee.
Again the guy that makes out here is the Crane Company.

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Reply 12 - Posted by: bogeegolf, 11/30/2012 1:49:46 PM     (No. 9041610)

I would like to see an underground movement to use real gold and silver in certain transactions. It may be a good thing to get used to.

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Reply 13 - Posted by: wtm, 11/30/2012 2:10:55 PM     (No. 9041664)

I really want to see a Dollar coin with Obama´s picture on it !!!!!!

That way I can jump on it, throw it against the wall, get dirt all over it, etc.

Hopefully it will be a small coin, or it will be one the size of what his head is (swelled up)??

Maybe it will be out of new material that will shrink in size as it gets more used !!!

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Reply 14 - Posted by: Starfire, 11/30/2012 3:22:15 PM     (No. 9041788)

Dollar coins are a novelty for kids gifts. I save them in a jar when I find them for special occasion gifting.

I emptied a box of chocolates (Yum!) for my granddaughter´s graduation gift and refilled the empty paper cups with the gold colored dollar coins and larger denomination bills orgami-folded into cute shapes. It took about $250 to fill but it was more fun than a check.

This year the grandkids and great-grandkids bags of holiday gelt will include a couple of real ´´gold´´ coins along with the chocolate.

Except for treats for the kids, I can´t imagine using dollar coins on a daily basis.

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Reply 15 - Posted by: Pete Stone, 11/30/2012 5:25:16 PM     (No. 9041943)

The dollar coins have one advantage -- they work much better in vending machines and those toll collection baskets. Buses may even take them in some towns.

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Reply 16 - Posted by: blizzard, 11/30/2012 5:26:26 PM     (No. 9041944)

I can carry a whole lot more $1 bills in my wallet than I can coins in my front pocket.

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Reply 17 - Posted by: NorthernDog, 11/30/2012 5:31:32 PM     (No. 9041952)

I prefer the coin over the paper bill. It´s much easier to count them out when doing a lot of cash transactions (like yard sales and vending machines).

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Reply 18 - Posted by: LadyHen, 11/30/2012 5:40:17 PM     (No. 9041966)

EXACTLY what I was thinking #8... gee, I wonder who?

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