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(MSN)   Congress wants you to embrace the idea of jingling strippers, just in time for the holidays   (money.msn.com) divider line 106
    More: Interesting, congresses, Interactive Data Real Time Services, Carolyn Maloney, David Diehl, U.S. Mint, Royal Canadian Mint  
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6924 clicks; posted to Main » on 30 Nov 2012 at 1:37 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-30 03:00:32 PM

Gabrielmot: Glad I'm no longer single...

I could see the strippers around here insisting guys put the dollar coins directly into their coin purse.



Why would you go to a strip club when you're single? That's a time when you get to see a variety of naked women anyway...and you don't have to tip them.
 
2012-11-30 03:03:57 PM
DO IT DO IT DO IT

Give us some $2 and $5 coins too, biatches.
 
2012-11-30 03:04:35 PM
What a stupid idea. You cannot do away with dollar bills. Many people never carry coins these days. I never do until I get home. Then the coins get tossed in a bowl in the kitchen. Then twice a year or so, I take them to the Coinstar. But I do use dollar bills and always want some singles in my wallet for tipping, donation jars, etc.
 
2012-11-30 03:18:58 PM

JackieRabbit: What a stupid idea. You cannot do away with dollar bills. Many people never carry coins these days. I never do until I get home. Then the coins get tossed in a bowl in the kitchen. Then twice a year or so, I take them to the Coinstar. But I do use dollar bills and always want some singles in my wallet for tipping, donation jars, etc.


From a common sense standpoint, it's a great idea.
The coins will last longer, and therefore be cheaper in the long run.
 
2012-11-30 03:23:08 PM
I recall one time I had my monthly pass fair in cash. I fed $260 into the machine and got $10 in dollar coins back. Ick! I think I still have those coins around here!
 
2012-11-30 03:23:21 PM
I like dollar coins because I frequently work with children, who think they're neat. Paying for things in gold-colored dollar coins with dead Presidents on them and making the cafeteria ladies do a double-take is just really amusing. The new dollar coins look a hell of a lot like Harry Potter money to little children who are used to dollar bills and more popular coins.

So when the kids ask if that was a Galleon they just saw me spend at the PTA bake sale, I say "Don't be ridiculous, this is America. See, this one has John Adams on it, our second President."

"But it looked like a Galleon."

"Well, this isn't Great Britain, so you can't spend Galleons here. Witches HERE use -I mean, that's very silly and of course witches are not real and I have no idea what you're talking about. Oh, look, a thing!" and I walk away.

Of course, I'm just the sort of crazy person to think that the whole 'Ms. Spidey may or may not be a witch' mystique is hilarious, and I've cultivated it lovingly ever since I was warned by some teacher friends that my unusually detailed knowledge of Halloween-related kid media (I have younger siblings and babysat a lot,) had some of the third-graders discussing the possibility. Somehow SOME sort of peculiar kid mythology crops up around elementary schools' tech-support contractors and non-teacher personnel. I remember believing beyond the shadow of a doubt that our elementary-school janitor was a friendly werewolf and arguing at length with other children about the fact, especially since he was kind enough to flinch at silver crosses, occasionally howled outside the window when Mrs. J read spooky stories and always seemed to have full-moon days off.

So really, it's the least I can do, carrying bizarre currency and occasionally mumbling in dog-Latin just before I make a dramatic computer repair. Childhood should be a time of magic and excitement, especially considering adulthood is so damned dull. If they make dollar-coins more mainstream, I'll have a bit less fun, but the little kids will be really thrilled the first few times they get 'wizard money' as change. And that will be nice, too.
 
2012-11-30 03:27:49 PM

Virtual Pariah: JackieRabbit: What a stupid idea. You cannot do away with dollar bills. Many people never carry coins these days. I never do until I get home. Then the coins get tossed in a bowl in the kitchen. Then twice a year or so, I take them to the Coinstar. But I do use dollar bills and always want some singles in my wallet for tipping, donation jars, etc.

From a common sense standpoint, it's a great idea.
The coins will last longer, and therefore be cheaper in the long run.


For a dollar coin, that may be true. but for all other denominations, it cost more to mint and distribute the coins than their face value. Also, people tend to lose coins. Not so much on paper money. And paper money is pretty darned durable. The average live span of a dollar bill is 4.8 years (according to the US Mint). Actually I envision a day in the not-to-distant future where currency will be obsolete. A know a lot of people who never carry cash. I never carry more than about 30 bucks.
 
2012-11-30 03:28:27 PM

ManRay: So the dancers have wear a coinbox on their thigh instead of a garter for bills. Big deal.


if only they had some sort of 'device' with a small 'slit' in it that would be accommodating of a small coin... hmmmmm.

also, you could just lick them (either the coin or the stripper, depending on which you think might be more clean) and stick them to their bodies...
 
2012-11-30 03:30:05 PM

BarkingUnicorn: John Elway threw a quarter at a stripper. ("I'm a quarter back, so it's funny!") Stripper laughed and said, "C'mere, John, I got somethin for ya."

She clocked him with a 6-inch stiletto heel.

Johnny pitched a fit until the manager said, "You want to make a fuss? I have the 9News team on speed dial."


because kicking someone in the head is comparable to tossing a quarter at them.

0_o
 
2012-11-30 03:31:09 PM

your average maint. man: Gabrielmot: Glad I'm no longer single...

I could see the strippers around here insisting guys put the dollar coins directly into their coin purse.

or do you mean their slot?


Any self-respecting Filipina stripper can pick up a dollar coin without using her hands.
 
2012-11-30 03:32:51 PM
Projected savings of $4.4 billion over 30 years? Or about $150 million a year.
And the deficit is topping trillion a year, or four orders of magnitude more than the potential savings.

Not saying we shouldn't do it; just that we shouldn't do it to save costs. Congress spent a decade's worth if savings in the time it took for you to read this.
 
2012-11-30 03:35:30 PM
At a House subcommittee hearing Thursday, the focus was on two approaches:

-Moving to less expensive combinations of metals like steel, aluminum and zinc.

-Gradually taking dollar bills out the economy and replacing them with coins.


Okay, moving to make money out of cheaper materials is a bad idea. Look at Ancient Rome. They had gold coins, all was good. Then they went with zinc (I think it was zinc) coins coated in gold. The cheaper coins devalued the currency and created a rampant increase in inflation.

As for dollar coins, the strip club solution is simple: when you enter buy house currency to tip the girls with and to buy dances with as well. The club wins because they've made their money, even if you don't spend all your house money there, they still made their money off of you and can legally tell you to fark off when you tell them why you need to buy back your money. Plus when the girls going to exchange the house money for real cash the club can take the house currency, subtract their cut and even have records for tax keeping.
 
2012-11-30 03:38:55 PM
"Well, this isn't Great Britain, so you can't spend Galleons here. Witches HERE use -I mean, that's very silly and of course witches are not real and I have no idea what you're talking about. Oh, look, a thing!" and I walk away.

I... I think... I think I love you.

/guessing you probably don't have a thing for overweight, middle-aged gargoyles.
 
2012-11-30 03:42:30 PM
MAKE IT HAIL
 
2012-11-30 03:45:45 PM
Beats getting clobbered with a bag of quarters for calling her a two bit . . .

i780.photobucket.com
 
2012-11-30 03:46:25 PM
Not getting rid of your low-denomination paper currency for a coin-based solution which is much more cost-effective?

???
That's just plain LOONIE!!

s15.postimage.org
 
2012-11-30 03:49:34 PM

oldfarthenry: Good enough excuse to post this:
[i1151.photobucket.com image 499x281]


This was the only worthwhile post in the thread.
 
2012-11-30 03:49:50 PM
I'm all for it, mostly because I carry plastic rather than currency anyway.
 
2012-11-30 03:55:02 PM
It's pretty simple... it costs 5.5 cents to mint a dollar bill, versus 16 cents to mint a dollar coin. The US Treasury will "refresh" the minted dollar bill probably 20~30 times over the "life" of one dollar coin.

Going with the conservative side of 20 "refreshes," that's a savings of 94 cents for each dollar produced as a coin versus the same dollar produced as paper currency.

Only the penny and nickel coins cost more to produce than their face value. It might be worth it to remove them from, circulation, but rules will need to be put into place for rounding amounts by the FTC for retailers.
 
2012-11-30 03:59:13 PM

frepnog: BarkingUnicorn: John Elway threw a quarter at a stripper. ("I'm a quarter back, so it's funny!") Stripper laughed and said, "C'mere, John, I got somethin for ya."

She clocked him with a 6-inch stiletto heel.

Johnny pitched a fit until the manager said, "You want to make a fuss? I have the 9News team on speed dial."

because kicking someone in the head is comparable to tossing a quarter at them.

0_o


Well, given the kicking power of a 90lb girl and the throwing power of an NFL quarterback... it could be close. ;)
 
2012-11-30 04:01:12 PM
If it's modern and cost effective then it's un-American.
 
2012-11-30 04:02:15 PM
yes, i would like to jingle, embrace, and have congress with some strippers.

wait what was the question?
 
2012-11-30 04:03:42 PM

ManRay: So the dancers have wear a coinbox on their thigh instead of a garter for bills. Big deal.


Hell, the some of the clubs here in Tampa already do that.

Or so I hear.
 
2012-11-30 04:10:34 PM
Embrace strippers? I thought there was no touching?

\ except for in certain Tampa establishments
 
2012-11-30 04:22:55 PM

WindBreaker: Projected savings of $4.4 billion over 30 years? Or about $150 million a year.
And the deficit is topping trillion a year, or four orders of magnitude more than the potential savings.

Not saying we shouldn't do it; just that we shouldn't do it to save costs. Congress spent a decade's worth if savings in the time it took for you to read this.


$150 million saved is $150 million earned. :)

Seriously though, that's just what it would save in printing vs coinage costs. There's also distribution costs that would be saved, since you wouldn't have to replace 3.2 billion $1 bills every year, recycling/disposal costs for those bills (I read somewhere it's like 7 million pounds, or 900 dump trucks full of shredded money that's disposed of in landfills every year), and other assorted savings.

Like I said earlier though, I never carry cash. Not even $1. Haven't for at least 10 years, with only a handful of exceptions. Wouldn't bother me if they got rid of tangible money altogether.
 
2012-11-30 04:23:14 PM
I tried bringing $1 coins with me to mexico - the gold ones you get from the USP. I thought they'd make for a great way to tip someone less than you should have. By the time they figured out it was just a buck - I'd be on my way. Didn't go over so well.

So, I've moved on to the $2 bill for tips, when the tip should be more like $3-4.

Suckas!!!!

CSB
 
2012-11-30 04:23:36 PM

Great Janitor: Okay, moving to make money out of cheaper materials is a bad idea. Look at Ancient Rome. They had gold coins, all was good. Then they went with zinc (I think it was zinc) coins coated in gold. The cheaper coins devalued the currency and created a rampant increase in inflation.


I hate to break it to you, but we already are on a fiat currency. All currencies are.
 
2012-11-30 04:24:17 PM
Better idea to make the government some money: start selling off our helium hoarding supplies at market value, instead of ridiculously, irresponsibly cheap, like we've been doing since the mid 90s.
 
2012-11-30 04:26:07 PM

JackieRabbit: What a stupid idea. You cannot do away with dollar bills. Many people never carry coins these days. I never do until I get home. Then the coins get tossed in a bowl in the kitchen. Then twice a year or so, I take them to the Coinstar. But I do use dollar bills and always want some singles in my wallet for tipping, donation jars, etc.


Poor baby, you'll have to adapt to using coins on occasion. You'll get used to it.
 
2012-11-30 04:26:42 PM
You'd give them a buck every time a stripper came around in the 90's. I would figure they'd be up to $5 by now. Generally I'm not watching the rising costs of boob glitter... but... even stripper shoes have to be getting up there.

/I nominate Barney Frank for the $3 bill.
 
2012-11-30 04:28:07 PM
I haven't touched cash in years...
Even last time I went to a strip club (took clients out) paid with a credit card.

//yes, you can pay for lap dances with a credit card
 
2012-11-30 04:42:38 PM
fredklein:

1) Dollar coins are easily differentiated from quarters to any normal person.

The dollar coin is so close to the size, thickness, and weight of a quarter that some coin acceptors accept them as quarters. Still. In the 21st Century.

While a person certainly can distinguish a dollar coin from a quarter coin, there is still ample room for confusion.

Make the dollar more like a British one-pound coin. It's small and thick and heavy and nothing at all like any of the other British coin denominations.

2) No one like having a huge pocketful of change instead of a few flat pieces of paper in your wallet.

If you don't like getting change, then you either have to use plastic, or only buy things in even dollar increments. If the change in your pocket is more valuable, maybe you'd be more inclined to spent it first rather than reaching for a fresh bill every time you spend.

I'm an American who spent a couple weeks in London recently. I started off with bills in my wallet and ended up with change in my pocket, except some of the change was in one- and two-pound coins. It took me all of two days to adjust and start reaching for the change first instead of my wallet.

So, your point is?

3) It's logical to have one type of money (bills) for whole dollar amounts, and another type (coins) for fractional amounts. Forcing the dollar to be a coin effectively devalues it, as people consider coins to be 'just change'.

It's an arbitrary split and a subjective issue. Where does logic come into it anywhere?

4) Colored money belongs in a Monopoly box.

That's a statement of opinion.
 
2012-11-30 04:43:01 PM

Cybernetic: Jgok: FTA: "the $1 coins have proved too hard to distinguish from quarters."

Seriously? You can tell the difference by feel, without even looking at them. The diameter, weight, thickness, edge, and both surfaces are different. They are quite literally NOTHING like each other.

I remember when the SBA dollar came out. It was pretty easy to mistake that coin for a quarter, and I was in fact handed one by mistake on a couple of occasions. But that's a design flaw, not a flaw in the concept of dollar coins.

Casinos have always loved dollar coins. In fact, casinos would love $5, $10, and $25 coins so they could stop creating their own tokens for the high-roller slots.


Also, two words: vending machines.
 
2012-11-30 04:49:55 PM

JackieRabbit: What a stupid idea. You cannot do away with dollar bills. Many people never carry coins these days. I never do until I get home. Then the coins get tossed in a bowl in the kitchen. Then twice a year or so, I take them to the Coinstar. But I do use dollar bills and always want some singles in my wallet for tipping, donation jars, etc.


At least find a credit union or small bank with a free changer. Coinstar takes 8 cents on the dollar!
 
2012-11-30 05:17:13 PM
Lots of countries lack low-denomination bills. Grow up, Americans.
 
2012-11-30 05:20:40 PM

MikeBoomshadow: Also, two words: vending machines.


I wonder - which part is cheaper, paper currency reader or a coin mechanism?
 
2012-11-30 05:27:52 PM

EdNortonsTwin: I tried bringing $1 coins with me to mexico - the gold ones you get from the USP. I thought they'd make for a great way to tip someone less than you should have. By the time they figured out it was just a buck - I'd be on my way. Didn't go over so well.

So, I've moved on to the $2 bill for tips, when the tip should be more like $3-4.

Suckas!!!!

CSB


Wow, you're either a troll or an awful person.

/or both
 
2012-11-30 05:31:02 PM

spicorama: I haven't touched cash in years...
Even last time I went to a strip club (took clients out) paid with a credit card.

//yes, you can pay for lap dances with a credit card


yeah but with a hefty service charge, no?

Sybarite: Gabrielmot: Glad I'm no longer single...

I could see the strippers around here insisting guys put the dollar coins directly into their coin purse.


Why would you go to a strip club when you're single? That's a time when you get to see a variety of naked women anyway...and you don't have to tip them.


Your experience of singledom and mine are quite different...
 
2012-11-30 05:35:10 PM
If they want to keep dollars they should make them more like Australian money. They dont wear down as fast. Isnt the life span of a dollar bill like 8 months or something?
 
2012-11-30 05:36:43 PM

HumanBeingsSuck: 2) No one like having a huge pocketful of change instead of a few flat pieces of paper in your wallet.

If you don't like getting change, then you either have to use plastic, or only buy things in even dollar increments. If the change in your pocket is more valuable, maybe you'd be more inclined to spent it first rather than reaching for a fresh bill every time you spend.

I'm an American who spent a couple weeks in London recently. I started off with bills in my wallet and ended up with change in my pocket, except some of the change was in one- and two-pound coins. It took me all of two days to adjust and start reaching for the change first instead of my wallet.



You could also do what a lot of europeans do- keep change right in your wallet. I have a passcase wallet that I took the passcase out of, leaving one giant pocket on the left side of the bifold. I carry coins in there, and I find myself using them much more often. I do clear out low value stuff when I get too much of it, but I always keep a couple quarters in there. Made it real easy to transition the couple of times I've traveled to europe, and it doesn't add as much bulk to your wallet as you think it might. And change stops being a nuisance and becomes practical money.

As for strippers, I'm sure they've figured out how to accept loonies and twonies in Canada. Perhaps Canadian strippers could come down and teach seminars? You may even get a bit of performance art with your tip.
 
2012-11-30 05:40:22 PM

groppet: If they want to keep dollars they should make them more like Australian money. They dont wear down as fast. Isnt the life span of a dollar bill like 8 months or something?


18-22 months is the figure I found, which is about in line with what I remember. A coin lasts decades. Hell, I got a penny from 1920 in change the other day, it's sitting on my desk right now.
 
2012-11-30 06:09:00 PM

HumanBeingsSuck: The dollar coin is so close to the size, thickness, and weight of a quarter that some coin acceptors accept them as quarters. Still. In the 21st Century.


I've never come across one.

While a person certainly can distinguish a dollar coin from a quarter coin, there is still ample room for confusion.

People who are 'confused' about dollars/quarters are as much a mystery to me as people who have intestinal problems after eating Fast Food. What is wrong with you people??

If the change in your pocket is more valuable, maybe you'd be more inclined to spent it first rather than reaching for a fresh bill every time you spend.

"I'm sorry, the total is how much? $17.35? Okay, lets see, I have a $20 bill... but wait, I have a pocket full of change, including a bunch of dollar coins. Let's pay with those, instead. ::reach:: ::grab:: ::dump on counter:: One dollar coin, two dollar coins... three dollar coins.... four- oh, wait- that's a quarter... oh, here's one-four dollars..."

No thanks. I'll pay with bills, or a card. And if I get heavy handfuls of coins as change... I'll pay with a card.

It's an arbitrary split

No, it's not. One (bills) is on one side of the decimal point, the other (coins) is on the other. In fact it's the only place you can split an amount that is Not arbitrary.
 
2012-11-30 07:27:58 PM
I, for one, am going to confuse my local fast food worker's with glee ...

"Nosotros no tomamos dinero falso."
 
2012-11-30 08:11:07 PM
they need to get rid of pennies first!
 
2012-11-30 08:27:20 PM
The source of the cost isn't the bills or coins themselves, it's inflation. If you get rid of the $1 bill, penny, and nickel, you just make it easier to print more money, which spurs inflation even faster.
 
2012-11-30 09:07:30 PM

fredklein: No, it's not. One (bills) is on one side of the decimal point, the other (coins) is on the other. In fact it's the only place you can split an amount that is Not arbitrary.


Splitting it on the decimal point is itself an arbitrary choice.

A good example of a non-arbitrary choice would be to analyze the long-term cost of maintaining the currency supply, and split it where it makes the most economic sense.

And that is rather the point.
 
2012-11-30 09:14:38 PM

Jgok: FTA: "the $1 coins have proved too hard to distinguish from quarters."

Seriously? You can tell the difference by feel, without even looking at them. The diameter, weight, thickness, edge, and both surfaces are different. They are quite literally NOTHING like each other.


Bull, If you hand someone one of them at the checkout lane and don't tell them it's a dollar coin it'll be used as a quarter. They need to be much more distinctive.

// Uses $1 coins all the time
 
2012-11-30 10:35:54 PM

MikeBoomshadow: Coinstar takes 8 cents on the dollar!


only for cashouts. You can get full value if you accept a gift card. Amazon, Starbucks, iTunes, and others participate...

/I support the dollar coin
//And the elimination of the penny
///And laundromats that accept plastic, FFS
 
2012-11-30 11:26:48 PM

StrikitRich: This again? Seems like this story gets posted at least once a quarter..Ha Ha!

FTA: The Mint is preparing a report for Congress showing how changes in the metal content of coins could save money.

The last time the government made major metallurgical changes in U.S. coins was nearly 50 years ago when Congress directed the Mint to remove silver from dimes and quarters and to reduce its content in half dollar coins. Now, Congress is looking at new changes in response to rising prices for copper and nickel.

At a House subcommittee hearing Thursday, the focus was on two approaches:

-Moving to less expensive combinations of metals like steel, aluminum and zinc.

What's next, wooden nickels?


No way, have you seen the price of wood lately? If they want to save they could cut the $1 bill in half and only print it on one side, then we could have some good quality note paper cheap.
 
2012-12-01 12:34:11 AM

CujoQuarrel: Jgok: FTA: "the $1 coins have proved too hard to distinguish from quarters."

Seriously? You can tell the difference by feel, without even looking at them. The diameter, weight, thickness, edge, and both surfaces are different. They are quite literally NOTHING like each other.

Bull, If you hand someone one of them at the checkout lane and don't tell them it's a dollar coin it'll be used as a quarter. They need to be much more distinctive.


I don't think it's tough to tell them apart, but you do have a point. Many of the $1 coins end up looking silvery, even though they are supposed to be gold in color. The gold color is just way too light. Darken it up, make it more rosey or bronzy, and put an additional feature on it to distinguish look and feel, and it should be just fine.

The US used to have lots of silver dollars and other dollar coins in circulation. I don't remember hearing anyone complain until the Susan B Anthony dollars were minted. Now we have a dollar coin which features the same president that appears on the quarter. Genius move, that one.
 
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