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(WGAL 8)   While there is a push to kill the $1 bill and fully replace it with the $1 coin, it will never happen. The fact is people hate change   (wgal.com) divider line 223
    More: Unlikely, Government Accountability Office, U.S. Mint  
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4128 clicks; posted to Main » on 28 Nov 2012 at 9:46 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-28 10:31:34 PM
1. Stop printing dollar bills

2. Mint enough dollar coins to replace them.

3. DON'T MAKE THE FARKING DOLLAR COIN VIRTUALLY GODDAMN IDENTICAL TO THE QUARTER.

4. Get rid of pennies and teach people to round.

tl;dr - crib off of Canada
 
2012-11-28 10:31:36 PM
Can anyone break a 10?
cache.virtualtourist.com
 
2012-11-28 10:34:58 PM
Look, here's the biggest problem with different colors for American paper money: Monopoly.

We as a society have been indirectly taught for decades that a monetary system where bills are a different color is, well, fake money. We want everything to be the same shade as a greenback, or else it will somehow seem wrong to us. It's going to take us a couple more generations- at best- to get away from that.
 
2012-11-28 10:36:02 PM
Will there still be a cost reduction once the metals used for the coin increase in price due to the increased demand?
 
2012-11-28 10:36:32 PM
Why is this even a farking debate. Do it or don't, Stop pennies, stop printing $ bills, mint $ coins the size difference between half dollars and quarters. Why do these FARKS have to make shiat difficult?
 
2012-11-28 10:36:43 PM

Dow Jones and the Temple of Doom: Toshiro Mifune's Letter Opener: Just wait until the $2 coin comes out.

We already had that, with both the Susan B Anthony, and then the Sack of Jawea. This isn't a new thing.


A Sack of Yahweh? What's it worth, 30 pieces of silver?

/yeah I know it's a stretch, shut up.
 
2012-11-28 10:37:07 PM

HumanBeingsSuck: The problem with the U.S. $1 Coin is, it is very very similar in size, weight, and thickness to a quarter-dollar coin. When you're sorting your change, you don't want to have to carefully check your quarters to make sure they're not actually dollars. All they have to do is change the size and thickness of the $1 coin, and people would adopt it.

It doesn't even matter that we don't use a proper Metric progression (we should have a 2c coin and a 20c coin instead of the quarter). The killer is the similarity in size, thickness, and weight between a quarter-dollar coin and a dollar coin.


There's a good reason I say you're wrong on that, even though it's obviously a subjective matter.

That is... the US brass dollar coin is the exact same size/thickness as the Canadian loonie dollar coin (the US version weighs a tiny bit more). You generally can use US brass dollars in Canadian vending machines, and I've even found them in rolls of loonies.

Exactly not a single person in Canada has said, in about 20 years, "this coin is just too much like a quarter". Not the drunkest blind drunk on George Street gets his loonies and quarters mixed up.

Susan B Anthonies? Fine. Sacagawea/Presidents? Are you saying the Canadians are just smarter than we are?
 
2012-11-28 10:38:06 PM

Gonz: Look, here's the biggest problem with different colors for American paper money: Monopoly.

We as a society have been indirectly taught for decades that a monetary system where bills are a different color is, well, fake money. We want everything to be the same shade as a greenback, or else it will somehow seem wrong to us. It's going to take us a couple more generations- at best- to get away from that.


This!

That's why the slight color differences in the current version of bills.
 
2012-11-28 10:39:13 PM

Benevolent Misanthrope: 1. Stop printing dollar bills

2. Mint enough dollar coins to replace them.

3. DON'T MAKE THE FARKING DOLLAR COIN VIRTUALLY GODDAMN IDENTICAL TO THE QUARTER.

4. Get rid of pennies and teach people to round.

tl;dr - crib off of Canada


Aye to 1 & 4. #2 we've already got taken care of... you have to think that's *why* we've got a billion of them stockpiled. As for #3? Our dollar coin is already virtually goddamn identical to the Canadian dollar coin. And they don't have a problem.
 
2012-11-28 10:44:53 PM
i.chzbgr.com
 
2012-11-28 10:48:09 PM

"There just isn't a demand for $1 coins."


I read somewhere that Canada just stopped printing dollar bills and started making dollar coins, leaving no one with a choice. It's not that there's a lack of demand, it's that people are lazy and avoid change. The Fed just needs to say your paper dollars are being converted to coins; good luck.

Who cares if the old people have a hard time with it? Just get the younger generations to go along with it. Within 10 years it won't even be an issue.

 
2012-11-28 10:48:30 PM

Pelvic Splanchnic Ganglion: If they'd mint the coins and then KEEP MINTING THEM, people might actually start to use them. I think I've seen MAYBE two of the Washington dollar coins, and less than a dozen Sacajawea dollar coins. I would use them if they worked in vending machines and I ever actually got my hands on a few.


They did keep minting them....there are billions of dollar coins in bank vaults around the country. In 2007 alone, nearly a billion were minted. Thing is, there is no demand for them because they stupidly left dollar bills in circulation. And pennies, which, admittedly, is a somewhat unrelated matter...but it's still stupid. And a huge farking waste of money.
 
2012-11-28 10:51:15 PM

FunkOut: 12349876: Ditch the penny and nickel too and you wouldn't have to worry about dealing with more coins. When the USA ditched the half penny shortly after the Civil War, it had more purchasing power than a dime today.

I've got an old British half-penny around here somewhere. It's so small and thin you could accidentally inhale it.


Look up the U.S. three-cent coin, or "trime," from the 1850s. You could snort it, if you were into that kind of thing. Your thumbnail is bigger.
 
2012-11-28 10:51:40 PM

FunkOut: 12349876: Ditch the penny and nickel too and you wouldn't have to worry about dealing with more coins. When the USA ditched the half penny shortly after the Civil War, it had more purchasing power than a dime today.

I've got an old British half-penny around here somewhere. It's so small and thin you could accidentally inhale it.


You sure it's an old halfpenny? Those were about an inch across. We used to use them as counters in board games when we'd lost the real pieces.

It doesn't take long for people to get used to the idea - we've gone through decimilisation, loss of half pence, new (smaller) 5 pence, introduction of 20 pence, pound coins, 2 pound coins, different designs of coins and notes... it's amazing how quickly people adapt. When you take into account paying parking meters by credit card, vending machines that take cards, using your phone to pay for parking, there's no real reason to cling on to notes.
 
2012-11-28 10:51:58 PM
Jesus Cripes, just stop printing the $1 bills already. If they want to switch to coins, just farking do it already. I read this same article every 2 or 3 years I swear.

Also, I have to wonder about people whose first thought is won't someone think of the strippers? LOL. But seriously, the vending machine companies and cash register manufacturers will adjust.
 
2012-11-28 10:52:33 PM
Ok, so we do this, piss lots of people off, and we save a measly 4 Billion dollars?

fark, the Pentagon blows that in about a month. Start looking there first, asshole.
 
2012-11-28 10:52:54 PM

kd1s: Here's something to think about:

A coin costs 30 cents to produce, paper money 5 cents.

Coin lasts 30 years. Paper money 4.7 years, let's round it up to 5 years.

There are six 5 year periods in 30 years. 6x5 = 30. So 30 cents either way. Now if we go for precision:

30/4.7 = 6.4 times 5 cents = 32 cents. 2 cents! No matter how you dice it, cost wise there's not a hell of a big difference.


You must not have seen my post above, a bill costs 79 cents to $1.06 depending on which branch of the BEP is printing it.

I used to work at the BEP, every month they'd send out a newsletter to the employees tracking how much they were spending per bill.
 
2012-11-28 10:53:50 PM

tenton: meanmutton: DanInKansas: From TFA: "As of May, the Fed had amassed $1.4 billion in $1 coins in its vaults because demand for the coins remains weak."

Anyone else feel a sudden urge to assemble a team of top-notch guys and form an insanely convoluted plan to nab the coins in a way the Fed will least expect?

Umm.. stop printing the dollar bill and the demand is going to skyrocket.

This times $1.00

If there's no competing paper $1, there will be no choice.

/might cause the $2 bill popularity to sky rocket in strip clubs


I think with the inflation over the last decade alone those girls deserve a 100% increase in minimum leg-bill-slippage denominations.

It'd also be an excuse to print more $2 bills, which is cool. Not too too many, but still.
 
2012-11-28 10:55:00 PM
I think we should start printing mills

1/10 of a cent.

that's right.

I said it. I am brave. And I'm not wearing any pants
 
2012-11-28 10:59:22 PM

FunkOut: 12349876: Ditch....

I've got an old British half-penny around here somewhere. It's so small and thin you could accidentally inhale it.


I've just realised you mean a new half penny - to a British person an old half penny is one of the pre-decimal ones, a new half penny was one of the little ones that were about 1cm across and are also no longer used... sorry for misunderstanding.
 
2012-11-28 10:59:45 PM

skinink: Those of you who want to keep the dollar bill should never travel to any European country. You'd see their currency, and the trauma would cause you to collapse in a puddle of your own pee. I like the coins better, because there's less issues of the coins jamming upa machine as opposed to the paper money, and it's not a big deal carrying around coins.


What is an upa machine?
 
2012-11-28 11:01:23 PM

wambu: The strippers don't enjoy having dollar coins thrown at them?


Bit too reminiscent of how they'd be treated in a fundamentalist Islamic country.

On the other side of things, I could see a one-hour video of something like that coming out of Japan.
 
2012-11-28 11:03:14 PM
Yeah as long as they don't make them exactly like a quarter. The problem I've always had with dollar coins is when I reach in to my pocket I need to be able to easily tell the difference between all the currency. So far the dollar coins and quarters have been far too similar. Make it pentagonal or hexagonal or a little bit thicker like the pound just not anywhere near a quarter dime nickle or penny.
 
2012-11-28 11:03:28 PM
I have a pile of these things sitting in a cup on my dresser...I kind of just forget to use them. My father thought it would be "funny" to give me a pile of them as part of a gift. Carrying coins in my pocket all the time is just too inconvenient, and most mens wallets are not designed to accommodate coins. .. Maybe I'll use them at the automatic car wash eventually if I remember them, but even there, I can just use a credit card...
/Used some at the gas station one time and the clerk looked over them for almost 5 minutes
 
2012-11-28 11:04:25 PM

WorldCitizen: Maybe about the same time we catch up with the rest of the world and convert to metric?


I'm all for switching to metric, but only after the rest of the world changes the metric system to something based on actual physical constants. Meter based on how far light travels in 299,792,458th of a second, chosen to fit a prototype based on a geographic mismeasure? Kilogram based on an old artifact of questionable accuracy that itself was based on a not-so-accurate measure of a liter of Viennese seawater centuries ago rather than on an actual natural constant like experts want? Fark that noise. Might as well base a measurement system on the size and mass of cereal grains and use that...oh wait, we already are.

Redo the foundations of the metric system to base it on actual natural constants (preferably measured at decimalized points such as 1,000,000th or 1,000,000,000th of a second or some such vs. 299,792,458th of a second for the meter, second (perhaps) itself redefined in accordance to the new system, kilogram redone, etc) with inarguable scientific grounding first then there will be cause for seriously considering switching systems. Otherwise, it's just political BS.
 
2012-11-28 11:04:45 PM
What will strippers do...OOOOHHHH coin slot.
 
2012-11-28 11:11:41 PM
All this talk about getting rid of the smaller coins...

When the real problem is that the dollar has been devalued.

A 90% silver dime still buys more than a half a gallon of gasoline.

Only the nickel retains its traditional composition and weight, and it's currently worth 5 cents for its metal value.

The coins aren't the problem. The ease of creating digital money and printing paper money is.
 
2012-11-28 11:14:44 PM

meanmutton: What I'd like to see:

Eliminate our existing coins, round everything to the nearest 10 cents. Have a 10 cent, 20 cent, and 50 cent coin.


I'm going one step further. Mint two coins, a less than 50 cent coin,and a greater than 50 cent coin. Your total is $5.88? That's a fiver and greater than 50 cent coin. Your total is $5.12? That's a fiver and less than 50 cent coin. In either case you only need a few coins to make correct change for purchases.

If you turn them into the bank you get 25 or 75 cents for each.

Businesses would likely make prices end in 01 or 51 and smarter people than me would have to figure out the details but heck...I hate hate hate carrying change around except the one time every four years that I turn in $400 in coins to the bank.
 
2012-11-28 11:21:48 PM

John Buck 41: mutterfark: I don't give a damn about a greenback, a dollar

Which of the 3 are you?


The one driving Geronimo's Caddilac
 
2012-11-28 11:21:54 PM

Diogenes Teufelsdrockh: Redo the foundations of the metric system to base it on actual natural constants (preferably measured at decimalized points such as 1,000,000th or 1,000,000,000th of a second or some such vs. 299,792,458th of a second for the meter, second (perhaps) itself redefined in accordance to the new system, kilogram redone, etc) with inarguable scientific grounding first then there will be cause for seriously considering switching systems. Otherwise, it's just political BS.


It is all arbitrary, as is the use of "10" (i.e., base "10") as we know it. If we're bothering with a 'universal' measure, we'd start with binary. Or, if we're counting fingers, using only the eight (ignoring the thumbs) is at least a derived system from binary.

Or, we could say "90% of the world doing it one way equals a majority... sometimes we're on the losing side of such things".
 
2012-11-28 11:22:29 PM
I LOVED the coins in Europe.

In America I reach into my pocket and I'm lucky if I can buy a stick of gum. I actually took a huge cup full of change (mostly pennies) to walmart and dumped it into the self checkout coin counter. A whopping $3.xx.

Meanwhile I have what feels like a few pennies and maybe a few quarters in my pocket in Europe. I have enough for a beer and maybe a brat.
 
2012-11-28 11:23:31 PM

AverageAmericanGuy: Shenanigans!: Maybe if they made it cool like the £1 coin...but still, I doubt it.

Not if they try to emulate the weight. The quid is a heavy coin.

Do not want.


True, it's a thick little thing. Doesn't resemble a quarter though, so it's got that going for it.
 
2012-11-28 11:24:41 PM

Random Anonymous Blackmail: What will strippers do...OOOOHHHH coin slot.


You just want to see them make change.

Perv.
 
2012-11-28 11:25:10 PM

meanmutton: round everything to the nearest 10 cents. Have a 10 cent, 20 cent, and 50 cent coin. Eliminate dollar and two dollar bills, replace them with coins.


-THIS-

this is exactly what they do in New Zealand and its completely farking golden.

there is no reason for a penny anymore. when they bought something it made sense. coins were for daily purchases. you didn't even reach for actual paper notes unless you were buying something serious. now you have to use more than one paper note to buy a farking soft drink. Coins should be $1, $2 and $5. $5 and $10 paper notes should be where they start.
our coins were laid out nearly two centuries ago, when a penny would actually buy items all by itself. money just doesn't work the same way, time to get with the program.
 
2012-11-28 11:25:46 PM

John Buck 41: mutterfark: I don't give a damn about a greenback, a dollar

Which of the 3 are you?


The one with a bottle of brandy and a song:D
 
2012-11-28 11:27:24 PM

skinink: "There just isn't a demand for $1 coins."
I read somewhere that Canada just stopped printing dollar bills and started making dollar coins, leaving no one with a choice. It's not that there's a lack of demand, it's that people are lazy and avoid change. The Fed just needs to say your paper dollars are being converted to coins; good luck.

Who cares if the old people have a hard time with it? Just get the younger generations to go along with it. Within 10 years it won't even be an issue.


We're lazy and avoid change because liberty! LIBERTYYYYYY!!
 
2012-11-28 11:33:57 PM
I'm guessing that a forced change to a $1 coin could actually be the deciding factor in an election. Seems silly, but hey, you elected George Bush twice.
 
2012-11-28 11:34:34 PM
Never understood why they can't produce better quality bills, like Australian dollar bills. Those suckers are virtually indestructible and they have a super cool window too...

pbs.twimg.com
 
2012-11-28 11:36:27 PM

Gyrfalcon: Random Anonymous Blackmail: What will strippers do...OOOOHHHH coin slot.

You just want to see them make change.

Perv.


is that a bad thing?
 
2012-11-28 11:37:51 PM
Want to save money at the mint? Abolish the damn penny. Much as I admire Abraham Lincoln, any pennies I find in my pockets at the end of the day go straight into the trash.
 
2012-11-28 11:40:41 PM
It's not the people's choice whether we use coins or bills, because our money comes from ATMs which hand out only $20s. All of our change comes from retailers. Maybe a retailer would like to explain why they are not handing out $1 coins?
 
2012-11-28 11:41:42 PM

meanmutton: Think of how bad the UK had their money before decimalization -- the pound was divided into 20 shillings and each shilling into 12 pence, each penny was 4 farthings. WTF was that?


Whatever the good people at Britain (tm) were smoking, I'd like some.
 
2012-11-28 11:42:25 PM
we continue to use the dollar bill because it is funky

get on the good foot, mofo
 
2012-11-28 11:46:13 PM

Gonz: Look, here's the biggest problem with different colors for American paper money: Monopoly.

We as a society have been indirectly taught for decades that a monetary system where bills are a different color is, well, fake money. We want everything to be the same shade as a greenback, or else it will somehow seem wrong to us. It's going to take us a couple more generations- at best- to get away from that.


There's merit to this. This means that --- for Americans --- the best argument for going to multicolored bills would be that, then they, resembling play money as they would, would do a far greater job of representing the actual value of US currency...
 
2012-11-28 11:48:04 PM

AverageAmericanGuy: Can anyone break a 10?
[cache.virtualtourist.com image 644x483]


World's first glory hole?

Also...

Random Anonymous Blackmail: What will strippers do...OOOOHHHH coin slot.


Possibly NSFW Link
 
2012-11-28 11:55:27 PM

leadmetal: All this talk about getting rid of the smaller coins...

When the real problem is that the dollar has been devalued.

A 90% silver dime still buys more than a half a gallon of gasoline.

Only the nickel retains its traditional composition and weight, and it's currently worth 5 cents for its metal value.

The coins aren't the problem. The ease of creating digital money and printing paper money is.


That isn't a problem either, once you get over the idea of using money as a store of wealth. That's not what money is for. Money is a medium of exchange. Use it to buy things that have actual value.

As for the coins, the change to dollar coins could have been done back in the days when there weren't as many people who believed that the federal government is out to screw them over. Nowadays too many politicians would get tired of the screaming from the minority of people who really care about such things and kill any bills that would make this change. Until and unless faith in the federal government becomes a given again, I don't see this happening.
 
2012-11-28 11:58:11 PM

nytmare: It's not the people's choice whether we use coins or bills, because our money comes from ATMs which hand out only $20s. All of our change comes from retailers. Maybe a retailer would like to explain why they are not handing out $1 coins?


Um, NO! ATM only 20's, not always.
 
2012-11-28 11:58:31 PM

lumiere: Never understood why they can't produce better quality bills, like Australian dollar bills. Those suckers are virtually indestructible and they have a super cool window too...

pbs.twimg.com

=============

Australian money is teh ghey.
 
2012-11-29 12:02:54 AM
LOL in 1983 we switched to zinc pennies with copper cladding because the rising cost of copper vs inflation were close to making it profitable to melt down all the pennies back then.

Today, the pre-1983 pennies are worth 2.3 cents in copper.

Zinc is climbing up there too though, as inflation reduces the monetary value and industrialization increases the zinc value. Now, zinc pennies have a total melt value of 0.52607 cents. Less than a penny, thus a loss to melt down... for now.

Entire nations have lost their whole coinage due to currency smuggling, a combination of climbing metal prices and inflation. Philippines found entire shipping containers full of coins being shipped out for scrap, as the metal was worth significantly more than the face value. This led to a crisis in just having physical money to pay back, the banks ran out of change and merchants could not GIVE change because it'd been shipped out. They'd mint new ones but they'd just get smuggled right out at a loss all over again as long as they were worth more to melt than face value, and minting them would be a net loss.
 
2012-11-29 12:04:43 AM

AverageAmericanGuy: Can anyone break a 10?
[cache.virtualtourist.com image 644x483]


www.bbc.co.uk

Do you have change for a Triganic Pu?
 
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