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Topic: Congress looks at doing
away with the $1 bill |
Congress looks at doing
away with the $1 bill
Associated Press, by Kevin Freking
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Original Article
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Posted By:JoniTx, 11/30/2012 7:22:14 PM
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| WASHINGTON -American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what´s best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years. Vending machine operators have long championed the use of $1 coins because they don´t jam the machines, cutting down on repair costs and lost sales. But most people don´t seem to like carrying them. In the past five years, the U.S. Mint has produced 2.4 billion
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Reply 1 - Posted by:
Pook60, 11/30/2012 7:30:52 PM (No. 9042097)
When all money gets down to the value of toilet paper, none of this will matter.
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Reply 2 - Posted by:
GringoinQuito, 11/30/2012 7:41:10 PM (No. 9042113)
I live in Ecuador. They use the American money. . Not many dollar bills, a lot of dollar coins. I actually like them better.
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Reply 3 - Posted by:
Topic Thunder, 11/30/2012 7:58:33 PM (No. 9042134)
With the inflation that´s coming, they can also do away with the $5, $10, $20 & $50 bills.
I would think the $100,000 Obamabuck will be the lowest denomination and will be used for most minimal purchases until replaced with the $1 Million and $1 Trilion notes.
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Reply 4 - Posted by:
LanieLou, 11/30/2012 8:05:11 PM (No. 9042144)
Why do I have this putrid feeling Obama´s face will replace Adams?
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Reply 5 - Posted by:
RedWhiteBlue, 11/30/2012 8:21:52 PM (No. 9042154)
Can you imagine the holes in your pockets and constant jingling noise as you walk around? Seamstresses will be happy about the new jobs they´ll be getting .
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Reply 6 - Posted by:
Straitpath, 11/30/2012 8:42:23 PM (No. 9042193)
But haven´t we tried this at least twice before?
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Reply 7 - Posted by:
cjohn2979, 11/30/2012 8:51:53 PM (No. 9042209)
I rarely ever use cash anymore. I use a debit card for 99.99% of everything I buy.
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Reply 8 - Posted by:
ColonialAmerican1623, 11/30/2012 8:56:33 PM (No. 9042214)
With the economy in the toilet, wouldn´t you think reinventing the wheel would take the back burner ? The cost of making new coins like the new quarters and nickels is phenominal.
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Reply 9 - Posted by:
4Justice, 11/30/2012 8:59:35 PM (No. 9042217)
No no no! I can´t stand too much change as it is. It all falls out of my pockets when I get home. I probably have $50 in change on the floor by my TV. I do NOT need dollar coins. UGH.
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Reply 10 - Posted by:
GKC fan, 11/30/2012 9:17:22 PM (No. 9042234)
I would love this if it was made out of a dollars worth of precious metal.
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Reply 11 - Posted by:
Envirodude, 11/30/2012 10:13:28 PM (No. 9042304)
What are strippers going to dance for?
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Reply 12 - Posted by:
MissMann, 11/30/2012 10:37:50 PM (No. 9042324)
Way back when they first tried this, I was stationed in Germany and all we got on base were dollar coins. I liked them...always worked in the vending machines. Maybe we just got used to using lots of different coins.
I think it is time to do away with the paper dollar.
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Reply 13 - Posted by:
WV.Hillbilly, 11/30/2012 10:42:25 PM (No. 9042329)
Coins made of steel, aluminum and zinc.
Just like coins in third word hellholes.
Bills cost much less to print than coins do to mint. Coins last longer. So the cost is a wash.
People don´t want to carry loads of change. They just built a new treasury warehouse in Texas just to store all the president dollar coins nobody wants.
Sounds more like a sop to the vending machine lobby.
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Reply 14 - Posted by:
Udanja99, 11/30/2012 11:18:41 PM (No. 9042347)
The Brits, Australians, New Zealanders etc already do this and it works very well. Perhaps we could get rid of pennies, get everyone to cash theirs in and make the dollar coins out of the copper from the pennies. Pennies are pointless these days and there are billions of them sitting in jars in people´s homes.
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Reply 15 - Posted by:
annie xango, 11/30/2012 11:25:37 PM (No. 9042356)
I hate lugging around coin...I ,seriously,detest these Congresscritters...
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Reply 16 - Posted by:
bob913, 12/1/2012 1:11:01 AM (No. 9042410)
I bought a bacon cheeseburger and a small fry at Burger king today. It cost $3.02
I gave the guy 3 ones and 2 cents.
Congress and the democrats in general have devalued everything.
That is my .02 cents worth.
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Reply 17 - Posted by:
Butch, 12/1/2012 2:20:15 AM (No. 9042449)
First we were offered the Susan B. Anthony dollar, which Americans adamantly chose not to use.
Next, the treasury tried to push us into using the golden Sacajawea dollar coin that was "minted every year since 2000, although not released for general circulation from 2002 through 2008 and again in 2012 due to its general unpopularity with the public." In other words, the coin was minted in every year since 2000, but not released during most of those years.
We Americans like our greenbacks! Yet again, however, our governing class knows better than we, refusing even to acknowledge our clearly and consistently expressed preference.
BTW #2, I just returned from Ecuador. Whenever I go down, I always take a few hundred greenbacks with me, plus a few hundred in fivers. The Ecuadorians like greenbacks too!
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Reply 18 - Posted by:
kono, 12/1/2012 2:47:27 AM (No. 9042457)
Americans have rejected dollar coins every time they´ve been tried. You´d think Congress would take the hint by now.
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Reply 19 - Posted by:
kono, 12/1/2012 2:53:26 AM (No. 9042460)
re #18 - every time they´ve been tried, post-WWII, anyway.
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