« Counterinsurgency | Main | Global warming column »

February 28, 2007

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.

 
About KansasCity.com | About the Real Cities Network | Terms of Use & Privacy Statement | About Knight Ridder | Copyright