Since we're talking about cutting gov't waste.....Dollar coins

[Amazon 7]

Hate to burst your bubble...Do you realize how many BILLIONS of dollars are in coin collection books right now with all the State Quarters, National Park quarters etc... the Susan B Anthony.. the Sacajawea Dollar and the Presidential dollars???

From Wiki.. just about the State Quarters

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The program was conceived as a means of creating a new generation of coin collectors, and in that it succeeded.[2][3] The 50 State Quarters program became the most successful numismatic program in history, with roughly half of the U.S. population collecting the coins, either in casual manner or as a serious pursuit.[4] The U.S. federal government so far has made additional profits of $3.0 billion from collectors taking the coins out of circulation.[5]

[Andrewwhyte 1]

I've got a better idea; stop printing dollar bills and go solely to dollar coins like the rest of the world. Printing paper money is way more expensive than minting coins since they don't last very long. This is especially true for high velocity bills like the one.
Before you give me some bullshit sentimental argument remember that this discussion is about saving the gov money.

[ChrisL 2]

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So, I'll swing the first ax. Lets start the chopping with something that will upset ABSOLUTELY NOBODY.

.

I'll be upset. I like dollar coins
Sincerely,

Nobody

P.S. I lived in British Columbia for 3 years. I liked Loonies and Toonies too...
(I particularly liked the Toonies)

__

My mighty steed

[Andrewwhyte 1]

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I'm glad you mentioned that because that is the only way these are going to take off- by force. You mentioned the difference in printing/minting cost but let's take another angle on it. If you mint a $1 coin it sticks around for decades inflating the money supply. If you print a $1 bill it wears out and gets replaced by the mint.

I've been up North a few times with the Looneys and Twooneys. I remember getting coffee at one place, then hitting another store and buying some toiletries. I made another stop someplace else I don't remember. Then I got back to the hotel and threw a handful of change on the dresser. I counted it and it was at least eight bucks worth of $1 and $2 coins that I just threw down like nickles. I didn't like it much.

My point is this is the third time they've tried this wishy-washy crap with dollar coins. Let's mint them and put them in circulation and no one will use them.
As a result we've got the expense of TWO sets of the same denomination. Plus the storage costs for all the coins nobody is using.

Minting a coin inflates the money supply by exactly the same amount as printing a note or reserve bank creating a dollar in the ledger of a large commercial bank. The difference is that you can reuse the coin longer than the note. There is no inflationary difference.
You ended up with a lot of money in change because you were not used to using coins to buy things. You can and will change your ways. In Canada there was similar bellyaching when the loonie was introduced. Guess what? We adapted. It is probably not a co-incidence that we made the switch during our deficit crises in the 1980's.

[champu 1]

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So, I'll swing the first ax. Lets start the chopping with something that will upset ABSOLUTELY NOBODY.

Dollar friggin' coins

And on the backswing of that same ax- we can get rid of PENNIES.

I would get rid of dollar bills, pennies, nickles, and dimes. Just have quarters, dollar coins, fives, and up.

...and can gas stations stop with the 9/10 of a cent bullshit already? C'mon people, the 1930s are over.

[billvon 3,116]

>...and can gas stations stop with the 9/10 of a cent bullshit already?
>C'mon people, the 1930s are over.

Can't really defend that to shareholders, though . . . .

"So I, as your CEO, made a decision that's essentially meaningless that will cost us $30 million in profit over the next two years. But it made me feel good because I hate those .9's."

[mnealtx 0]

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>...and can gas stations stop with the 9/10 of a cent bullshit already?
>C'mon people, the 1930s are over.

Can't really defend that to shareholders, though . . . .

"So I, as your CEO, made a decision that's essentially meaningless that will cost us $30 million in profit over the next two years. But it made me feel good because I hate those .9's."

That of course, makes the assumption that they would drop .9 cent rather than raise .1 cent...

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[billvon 3,116]

>That of course, makes the assumption that they would drop .9 cent rather
>than raise .1 cent...

Yes. Which would give their competitors (effectively) a 1 cent price advantage, and thus reduce their competitiveness.

[mnealtx 0]

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>That of course, makes the assumption that they would drop .9 cent rather
>than raise .1 cent...

Yes. Which would give their competitors (effectively) a 1 cent price advantage, and thus reduce their competitiveness.

That, of course, makes the assumption that only a single company would make the change, when in reality it would be all or none.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[billvon 3,116]

>That, of course, makes the assumption that only a single company
>would make the change, when in reality it would be all or none.

Ay, there's the rub. No problem when everyone does it - but no one wants to be first.

[mnealtx 0]

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>That, of course, makes the assumption that only a single company
>would make the change, when in reality it would be all or none.

Ay, there's the rub. No problem when everyone does it - but no one wants to be first.

Funny thing about sacrificial lambs...they're of pretty limited utility afterwards, except perhaps as lunch.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[Bolas 5]

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So, I'll swing the first ax. Lets start the chopping with something that will upset ABSOLUTELY NOBODY.

Dollar friggin' coins

And on the backswing of that same ax- we can get rid of PENNIES.

I would get rid of dollar bills, pennies, nickles, and dimes. Just have quarters, dollar coins, fives, and up.

...and can gas stations stop with the 9/10 of a cent bullshit already? C'mon people, the 1930s are over.

+1. That and ending prices with one or more 9s.

Add the 1 cent or $1 to the price cuz that's what we do anyways when deciding.

Do they really think we're that stupid?

"$20? I don't want to spend that much. $19.99? Sure."

Of course they could eliminate most coins altogether if sales taxes were not added onto purchases, but were included in the base prices.

Stupidity if left untreated is self-correcting
If ya can't be good, look good, if that fails, make 'em laugh.

[billvon 3,116]

>Do they really think we're that stupid?

Yes. (And unfortunately most consumers are.)