Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Consumerist)   Senate once again pushes for the $1 coin, ignoring the fact that consumers still do not want the change   (consumerist.com) divider line 247
    More: Stupid, Senate, dollars, consumers  
•       •       •

1487 clicks; posted to Politics » on 07 Jun 2013 at 8:53 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



247 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all
 
2013-06-07 05:01:32 AM  
To hell with a dollar coin, let's make paper currency higher than the hundred dollar bill.
 
2013-06-07 06:50:18 AM  
If you want the coin to be used just take the paper version out of circulation.
 
2013-06-07 07:26:39 AM  
What the Senate debate may look like:

i4.ytimg.com

Coin!  Coin!
 
2013-06-07 07:30:10 AM  
It's not that I don't want a dollar coin. It's that I'm never given one back as change. I never get the chance to get annoyed with them, let alone use them for any length of time.
 
2013-06-07 07:43:23 AM  

log_jammin: It's not that I don't want a dollar coin. It's that I'm never given one back as change. I never get the chance to get annoyed with them, let alone use them for any length of time.


The only place I have ever gotten them from is out of the stamp machine at the Post Office.
Of course with the debit card, I barely carry paper cash any more, much less coins.
 
2013-06-07 07:57:26 AM  
Just put Reagan's face on it. The yokels will demand the coin be minted in the quadrillions just for "I done paid for my truck, my boat AND the 'Compleat Smokey and the Bandit Tripleology' with nothin' but Reagans!" feed-store braggadocio purposes.
 
2013-06-07 07:59:21 AM  

edmo: If you want the coin to be used just take the paper version out of circulation.


It's almost too simple really.
 
2013-06-07 08:15:05 AM  
Canada, the UK and the EU get along fine with coins for their lowest whole currency. This time in the US, don't make the dollar coin too similar to the quarter.
 
2013-06-07 08:15:51 AM  

Mr. Coffee Nerves: Just put Reagan's face on it. The yokels will demand the coin be minted in the quadrillions just for "I done paid for my truck, my boat AND the 'Compleat Smokey and the Bandit Tripleology' with nothin' but Reagans!" feed-store braggadocio purposes.


You know, the original "Smokey and the Bandit" is an awesome SIGINT movie.  It's got it all:  Deceptive callsigns, funkspiels, spoofing, frequency hopping, interception of communications, and codes.

It's like the movie Enigma, but with a Trans Am and a southern accent.

/Minus a nekkid Saffron Burrows, of course.
 
2013-06-07 08:20:19 AM  
It's interesting to me that the only link apparently available to submit to Fark for this story involves the swirling cesspool of halfwit victimhood that is The Consumerist.
 
2013-06-07 08:22:42 AM  
If they eliminate the $1 bill, that means that the minimum tip at a strip club either becomes a $5, or they
will have to find a way to hang one of these:

www.coindispenser.com

From their g-strings.

So it'll never happen.
 
2013-06-07 08:23:07 AM  
The only way the dollar coin will succeed is if the dollar bill goes away.
 
2013-06-07 08:28:58 AM  
It seems a tough sell, no matter how they phrase a coin.
 
2013-06-07 08:39:37 AM  
I started using them because the change machine in my break area at work spits them out. They're actually really handy for vending machines because they never get rejected like paper bills. From there I've kind of started using them everywhere.
 
2013-06-07 08:40:22 AM  

JasonOfOrillia: The only way the dollar coin will succeed is if the dollar bill goes away.


I agree with this. I wouldn't mind at all, if it were to happen. Sometimes if I'm at the bank, I'll get ten bucks worth of dollar coins, just for the hell of it. But store clerks and bartenders, etc, look at me like I have snakes growing out of my ears when I try to spend them.
 
2013-06-07 08:45:22 AM  

simplicimus: Canada, the UK and the EU get along fine with coins for their lowest whole currency. This time in the US, don't make the dollar coin too similar to the quarter.


Pretty much this.  And what people forget is the way that works is you don't give people a choice because in such matters most people are really creatures of habit- instead you have to just announce everyone has six months to take their old paper bills to the banks and after that it's coins all the way.

That's how you get rid of pennies too.  Which they should have done like ten years ago, but better late than never.
 
2013-06-07 08:49:01 AM  

DjangoStonereaver: If they eliminate the $1 bill, that means that the minimum tip at a strip club either becomes a $5, or they
will have to find a way to hang one of these:

[www.coindispenser.com image 328x259]

From their g-strings.

So it'll never happen.


Nah, they'll just have a counter that you can trade real money for g-bills, then at the end of the night, the girls can trade those back in for real money (with a 10% cleaning fee, of course)
 
2013-06-07 08:49:44 AM  

Pocket Ninja: It's interesting to me that the only link apparently available to submit to Fark for this story involves the swirling cesspool of halfwit victimhood that is The Consumerist.


You should submit that to The Consumerism and see if they'll implode in on themselves in a singularity of being a victim and the victimizer at the same time.

I'll bet the last sound heard out of them will be a raspy shout of "but I had an expired groupon...."
 
2013-06-07 08:50:01 AM  

Pocket Ninja: It's interesting to me that the only link apparently available to submit to Fark for this story involves the swirling cesspool of halfwit victimhood that is The Consumerist.


well actually it is completely appropriate for the swirling hive of halfwit opinions that is Fark, present company excepted
 
2013-06-07 08:51:52 AM  

Jackson Herring: Pocket Ninja: It's interesting to me that the only link apparently available to submit to Fark for this story involves the swirling cesspool of halfwit victimhood that is The Consumerist.

well actually it is completely appropriate for the swirling hive of halfwit opinions that is Fark, present company excepted


Some of us find it comforting to know that it's other peoples' fault that we aren't richer due to our own apparent brilliance.
 
2013-06-07 08:53:56 AM  
OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

To me, having several bills that fold up neatly in my wallet is much more preferable than a pocket full of loose change that's going to fall out or bang against my thigh when I walk. I try not to carry change as it is because of that.
 
DGS [TotalFark]
2013-06-07 08:57:19 AM  

edmo: If you want the coin to be used just take the paper version out of circulation.


Ayup.


SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

To me, having several bills that fold up neatly in my wallet is much more preferable than a pocket full of loose change that's going to fall out or bang against my thigh when I walk. I try not to carry change as it is because of that.


I believe they are cheaper to make than the bills, and last significantly longer (less wear and tear), so not as much needs to be spent over time just managing the process of making money for circulation. There's nothing convenient about it, and that's a major component of the resistance. With a society that has so many screaming for reducing costs and being more efficient, this is a prime example of how the citizens like the concept of efficiency but don't like the change required to make that efficiency the norm.
 
2013-06-07 08:58:26 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

To me, having several bills that fold up neatly in my wallet is much more preferable than a pocket full of loose change that's going to fall out or bang against my thigh when I walk. I try not to carry change as it is because of that.


metal lasts longer than paper. i have no clue what the savings would be if you compared circulated dollar bills and their lifespans vs that of a coin, but with the volume involved it would have to be massive.
 
2013-06-07 09:01:46 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.


It is long term cheaper for the government because they need replaced less often and people collect coins and take them out of circulation, effectively buying the money from the government.
 
2013-06-07 09:02:16 AM  
How about a plastic dollar gift card, redeemable for a crisp bill or coin at a bank or it's just eaten by a machine reader when all used.
 
2013-06-07 09:02:38 AM  

DjangoStonereaver: If they eliminate the $1 bill, that means that the minimum tip at a strip club either becomes a $5, or they
will have to find a way to hang one of these:

[www.coindispenser.com image 328x259]

From their g-strings.

So it'll never happen.


This reminds me of the time I tried to give a stripper a $2 bill...
 
2013-06-07 09:03:24 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.


The main argument: They cost less overall since coins last longer than paper bills - meaning they have to be replaced less often - and when they do have to be replaced they can be recycled into new coins. Odd as it may seem, you can't easily recycle paper money into new paper money. They get shredded and dumped.

A secondary argument is that coins are easier for machines to process, especially when dispensing.
=Smidge=
 
2013-06-07 09:03:26 AM  
Rapmaster2000:

This reminds me of the time I tried to give a stripper a $2 bill...

did she sell you a taco?
 
2013-06-07 09:03:35 AM  

Sybarite: I started using them because the change machine in my break area at work spits them out. They're actually really handy for vending machines because they never get rejected like paper bills. From there I've kind of started using them everywhere.


I used them on the bus all the time back when I had to ride downtown. Really handy, but now it's all done with cards.
 
2013-06-07 09:03:56 AM  
Remove the paper dollar and the penny at the same time. Add $1 and $5 coins.
 
2013-06-07 09:04:10 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.


1) They're much more cost-effective.  Coins have an average lifespan of decades, compared to about 18 months for a paper bill.  The cost of manufacture is much less over the long-term.

2) Because of inflation over the decades, the one-dollar bill is the least-valuable paper bill we've ever had.  A dollar bill today holds less value than a quarter did in 1976.  It's worth less than a dime was worth in 1947.  Clearly we have historically not had a problem minting and using coins that are worth more than our dollar bill is worth today.  The one-dollar note simply has too little buying power to warrant a paper bill.

What we should do is, a) introduce a new dollar coin in sufficient quantities, b) simultaneously eliminate the dollar bill, and c) eliminate the penny (now practically worthless for the same inflationary reasons), and round all cash transactions to the nearest 5¢.
 
2013-06-07 09:05:13 AM  

Carth: Remove the paper dollar and the penny at the same time. Add $1 and $5 coins.


I'm with you on the Penny. Not sure about the $5 coin though.
 
2013-06-07 09:05:37 AM  
at least according to this
 http://abcnews.go.com/blogs/business/2011/10/coins-could-replace-do lla r-bills-save-us-5-6-billion/

a GAO report puts the tally at 5.6 billion over 30 years.
 
2013-06-07 09:06:00 AM  
I believe a coin is more expensive to produce than a bill, BUT... a coin will last for decades, so they wouldn't have to produce nearly as many of them.
 
2013-06-07 09:06:45 AM  
www.coinnews.net
Awesome on a T-shirt. Will be even awesomer on mun-eh!
 
2013-06-07 09:07:00 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

To me, having several bills that fold up neatly in my wallet is much more preferable than a pocket full of loose change that's going to fall out or bang against my thigh when I walk. I try not to carry change as it is because of that.


Paper bills last about 18 months before they're retired and shredded.  Coins last way way longer (I often find pennies from the 1940s).  The cost alone for not needing to print $1 bills will be huge, let alone banks/federal reserve getting the old ones paper bills out of circulation.

/and from a tin-foil-hat standpoint, a coin isn't a federal reserve note
 
2013-06-07 09:07:14 AM  
Looking at the voting record of the South and Midwest as well as their increasing population, we might as well start minting these.

i218.photobucket.com
 
2013-06-07 09:07:23 AM  

SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

To me, having several bills that fold up neatly in my wallet is much more preferable than a pocket full of loose change that's going to fall out or bang against my thigh when I walk. I try not to carry change as it is because of that.


You COULD use a rubber coinpurse to solve that problem...

/ businesses used to hand out those out for free...
// not sure if it's that easy to find one of those anymore..
/// I sound old
 
2013-06-07 09:09:21 AM  

LasersHurt: Carth: Remove the paper dollar and the penny at the same time. Add $1 and $5 coins.

I'm with you on the Penny. Not sure about the $5 coin though.


I was thinking how convenient the $10 hong kong coin is but forgot about the conversion rate. I guess it would be more equivalent to a $2 USD coin. But just try spending a $2 coin in Taco Bell.
 
2013-06-07 09:09:47 AM  

coeyagi: Looking at the voting record of the South and Midwest as well as their increasing population, we might as well start minting these.

[i218.photobucket.com image 410x224]


That's called a 'Gipper'
 
2013-06-07 09:11:34 AM  
It should be mentioned that the resistance of the US government to take the common-sense step of eliminating the one-dollar note has little to do with the preferences of the American public, and a great deal to do with strenuous lobbying efforts by politically-influential vested interests.  If you like into the Save the Greenback lobbying group, you'll find that one of its main backers is the Crane Paper Company, which is the predominant supplier of high-quality paper used in US currency, passports, etc.

Once again, our public policy is set by business interests, rather than by what makes sense.
 
2013-06-07 09:11:46 AM  
If you give people an option, they will choose the one they are most comfortable with. Just do it and people will adapt. Letting them choose will fail.
 
2013-06-07 09:12:01 AM  

Doc Daneeka: What we should do is, a) introduce a new dollar coin in sufficient quantities, b) simultaneously eliminate the dollar bill, and c) eliminate the penny (now practically worthless for the same inflationary reasons), and round all cash transactions to the nearest 5¢.


<foam-at-mouth>

But inflation!

</foam-at-mouth>
 
2013-06-07 09:12:20 AM  
I liked the idea of the coin; for that matter I liked the idea of the $2 coin.  Maybe because I just like coins, I don't know.

I agree with previous comments:  the penny has to go.  For that matter, the nickel should probably go.  And yes, we should have both $1 and $5 coins.

I do wonder, though, if counterfeiting will be a problem.  Obviously it takes more sophisticated equipment to forge a coin rather than a bill, but the technology for paper bills allows much more sophisticated anti-counterfeiting.  Can we put microchips into coins or something?  Is that economically feasible?  How easily can they be copied?

Most counterfeiting of small bills is by small-time crooks, I think.  Large-scale counterfeiting of coins would be enemy states like Iran or North Korea, creating billions of them.  Much larger-scale problem, maybe?

Please keep in mind that I'm an idiot.
 
2013-06-07 09:12:56 AM  

Mr. Coffee Nerves: Just put Reagan's face on it. The yokels will demand the coin be minted in the quadrillions just for "I done paid for my truck, my boat AND the 'Compleat Smokey and the Bandit Tripleology' with nothin' but Reagans!" feed-store braggadocio purposes.


I was thinking something similar to that, but rather with Obama coins. They'd be a huge hit at coffee houses, bath houses, and a slew of pretentious locales.
 
2013-06-07 09:13:03 AM  

simplicimus: Canada, the UK and the EU get along fine with coins for their lowest whole currency. This time in the US, don't make the dollar coin too similar to the quarter.


Hasn't been similar to the quarter in a decade.  Different color, different edge, easy to tell them apart.
 
2013-06-07 09:13:32 AM  
It probably does not help that many Americans, when they receive a dollar coin for any reason, promptly find a safe place for it to keep "just in case it's worth a lot more later".
 
2013-06-07 09:13:47 AM  

Wellon Dowd: Doc Daneeka: What we should do is, a) introduce a new dollar coin in sufficient quantities, b) simultaneously eliminate the dollar bill, and c) eliminate the penny (now practically worthless for the same inflationary reasons), and round all cash transactions to the nearest 5¢.

<foam-at-mouth>

But inflation!

</foam-at-mouth>


In Canada they got rid of the penny. If you pay cash and the cost is .02 or less you round down .03 or higher you round up. If you pay by debit/credit you pay the exact amount. It took people all of 2 days to get used to it.
 
2013-06-07 09:14:05 AM  

Doc Daneeka: SurfaceTension: OK, someone explain to me, as if I was a 5 year old, why the dollar coin is better than the dollar bill.

1) They're much more cost-effective.  Coins have an average lifespan of decades, compared to about 18 months for a paper bill.  The cost of manufacture is much less over the long-term.

2) Because of inflation over the decades, the one-dollar bill is the least-valuable paper bill we've ever had.  A dollar bill today holds less value than a quarter did in 1976.  It's worth less than a dime was worth in 1947.  Clearly we have historically not had a problem minting and using coins that are worth more than our dollar bill is worth today.  The one-dollar note simply has too little buying power to warrant a paper bill.

What we should do is, a) introduce a new dollar coin in sufficient quantities, b) simultaneously eliminate the dollar bill, and c) eliminate the penny (now practically worthless for the same inflationary reasons), and round all cash transactions to the nearest 5¢.


This has been in effect for decades in Europe, with no real problems. Most stores don't even carry change under 10 Euro Cents.
 
2013-06-07 09:14:21 AM  
a soda machine popped out three coins and i thought i was gypped at chelsea piers...which was the day i found out some machines do take them

/last week
 
Displayed 50 of 247 comments

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
Advertisement
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report