Dollar coins

I wonder how all these people who claim they can’t tell a $1 coin from a quarter manage to tell $1 and $10 bills apart.
Any why does it not seem a bit ridiculous and “Third World” to have a coinage based essentially on quarters, dimes and pennies?
Quarters will buy only about a nickel’s worth of anything, and pennies are hardly money at all.
I say get rid of the pennies and the $1 and $5 bills altogether, and replace with half-dollars and $1 and $5 coins.
This will catch us up with the rest of the world, and it will be cheaper and more convenient.
Joe Williams
Kansas City

Comments

[CRD]

big thing is, they don't wear out easily, unlike paper bills.

[Engineer]

Another good thing about the $1 and $5 coins, there is a good chance that they can revive the coin purse industry. When I was a kid everyone, including men, had a coin purse. Carrying a number of large coins at all times can be hard on pockets.

[cooker_fox]

I actually think the $1 coins are great! I already have 50 and plan on getting more. I have been using them to pay for stuff, but I have to admit that I have had some folks look at them pretty strangely at like 7-11's and the like. This I blame on the mint for not promoting them more.

Personally the only way I see us actually converting to the dollar coins is to do away with the paper ones. If you don't have a choice I think you would quickly switch.

Now with that said. I have to say that I am actually hoping that they are a bust after the first year. Then collectors like myself will finacially benefit like I did with the 2001 Sacagawea (sp?) dollar. The 2000 is easy to get, but the 2001 is worth about $120 now. And I have at least 200 of them. Not a bad return on my investment. So you all go ahead and pooh pooh the dollar coin and I will continue to make money. But if you want to make this liberal not make as much profit I would get down to the bank and get a roll or two. Wal-Mart will be using them as change soon and the post office already is. As for mintage amounts.. I have heard that they plan on 300 million of the first one and close to that for the rest of the 3 to be released this year.

[Engineer]

Will there be enough of these coins minted to place them in general circultion? During the two previous attempts, I can't remember ever being given one in change.

[Lost_In_Ambivalence]

Joe is on the right track but not far enough...Lets get rid of all money smaller than twenties. Round everything to the nearest 20 and move on.

40 envelopes - $20
1 roll of film - $20
2 loaves of bread - $20
Cranium - $20
Oil Change - $20

Only having to teach 2nd graders how to multiply by 20....priceless.