Gold Doller coin coming March 1, 2000
JCBENFIELD
be showing up in neighborhood poker games. Yup, it's legal tender and will
easy to tell from the quarter with its smooth edge, golden color. More jingle,
less crinkle to the game.
Any thoughts on this.
Jim Benfield
Ian Strock
>Any thoughts on this.
Gold colored, not gold. Same size as the Susan B. Anthony dollar. And I
really don't like the design the Mint has chosen for it (quite aside from
the fact that I really like the Apollo 11 reverse used on first the
Eisenhower, and the shrunk for the Anthony, dollar, and I'm sorry to see
it go).
Do you really think it'll become that prevalent that quickly? In Canada,
they had to withdraw the paper dollars to help increase the circulation of
the metal dollars.
Jef2000
>
>Only three more months until the Golden Dollar with Sacagawea on >the front
will be showing up in neighborhood poker games. Yup,
>edge, golden color. More jingle, less crinkle to the game.
>
>Any thoughts on this.
I'm not sure that it will be as easy to tell from a quarter as we have been
lead to believe. Sure, it's gold colored and has a smooth edge, but it's the
exact same size and weight as the Susan B. Anthony dollar, which, as we all
know, is pretty damn close to the size of a quarter.
The funny thing is that everyone knows that the size similarity is a basic
design flaw and was a major factor in the Susan B.'s flop. But it was not
corrected. In fact, Congress mandated that the size and weight not change.
Why? Well, take a look at Congressional campaign contributions in 1997 (the
year the bill to create the Sacagawea dollar was passed.) You will find that
many key members of the committees through which the bill passed received large
contributions from the vending industry. That's right -- vending machines.
Although it's not widely known, most vending machines currently in service are
able to properly accept Susan B. Anthony dollars. By not having to retrofit
their machines, the vending industry will save hundreds of millions of dollars.
Not a bad deal for only a couple of hundred thousand dollars' worth of
lobbying and campaign contributions.
Of course, this is just the first step. What the vending industry really wants
is to do away with the dollar bill. Seriously. Those bill feeders are
expensive. If the Sacagawea dollar is even mildly successful, the lobbying
efforts to get rid of the dollar bill won't be far behind.
Jeff
Tony Oresteen
jef...@aol.com (Jef2000) wrote:
> jcbenfield wrote:
> >
> >Only three more months until the Golden Dollar with Sacagawea on
>the front
> will be showing up in neighborhood poker games.
If you use chips it doesn't matter.
But for a $1-2 game allowing nothing but Gold Sacas and $2 bills makes
sense. I used to do this in Germany in the early '80s where Susan Bs
and $2 were abundant and it kept the money right.
Tony
Sent via Deja.com http://www.deja.com/
Before you buy.
Chris Waters
>
> Do you really think it'll become that prevalent that quickly? In Canada,
> they had to withdraw the paper dollars to help increase the circulation of
> the metal dollars.
An barely significant point but the point of the dollar coin in Canada was to replace the
paper dollar (the conis are cost effective; they last longer) which was so successful the $2
bill was replaced with a coin. I also think we could retire the penny and perhaps even the
nickel and dime.
Thats_hersh_foll...@tc.umn.edu
JCBENFIELD <jcben...@aol.com> wrote:
>Only three more months until the Golden Dollar with Sacagawea on the front will
>easy to tell from the quarter with its smooth edge, golden color. More jingle,
>less crinkle to the game.
>
>Any thoughts on this.
As far as poker goes, I prefer to play with chips as they are easier to
stack, count and shuffle. I don't see this impacting my poker playing at
all.
However I really like the idea of having common coins that are worth
something. In America, I typically go to my wallet first when paying
for something. It would be much easier to go to my pocket and pull out
a few coins. England has a coin that is worth 2 pounds, Israel a 10
shekel piece. Each of these are worth more than $2 American. I like
the feeling of being able to buy something substantial with my pocket
change.
Of course the Canadians have the "Toonie", but Canadian money is hardly
worth anything these days :-)
Ian Strock
>Ian Strock <i...@panix.com> wrote:
>> Do you really think it'll become that prevalent that quickly? In Canada,
>> they had to withdraw the paper dollars to help increase the circulation of
>> the metal dollars.
>How come that the dollar coins that you had wasn't used much...?
>...and am I the only one liking half dollars?
I use half dollars (and dollar coins, and two-dollar bills, when I can get
them), but the banks don't usually stock them because there's almost no
demand for them. And when I spend them, the responses are usually evenly
divided between the "what the heck is this?" crowd, and the "ooh, lookie.
I'm gonna keep this one for myself" bunch. Either way, not much
circulation.
Patrick Meeks
currency in the world. Case in point, a friend of mine got several
Susan B. Anthony dollars on a trip to NYC and promptly brought them into
the poker game(mainly quarters and dollar bills used) when he couldn't
use them anywhere. They circulated in the game for several months and
nobody wanted them. The main problem, you can't use dollar coins at the
laundry room, or to buy a soda, or any of the other main vending type
machines. Also, I'd much prefer a couple of dollars folded in my wallet
to a pocket of jingling coins.
My thoughts.
JCBENFIELD wrote:
>
> Only three more months until the Golden Dollar with Sacagawea on the front will
> be showing up in neighborhood poker games. Yup, it's legal tender and will
> easy to tell from the quarter with its smooth edge, golden color. More jingle,
> less crinkle to the game.
>
> Any thoughts on this.
>
> Jim Benfield
David desJardins
> Of course, this is just the first step. What the vending industry
> really wants is to do away with the dollar bill.
Fortunately, that's what vending machine users want too.
The real question is how hard will it be to distinguish the coins, and
we can't really judge that yet (at least those of us who haven't had the
chance to handle the physical coins). If it's as difficult as for the
Susan B Anthony dollars, it will be a disaster. The British coin style
(relatively small but thick coins) is a lot better for users.
David desJardins
Bill Ingram
> I also think we could retire the penny and perhaps even the
> nickel and dime.
Actually, what you want is to retire the penny, nickel, and
the quarter and then reissue the half-dollar (perhaps in a
smaller size). That way every purchase amount could be rounded
to the nearest ten cent and handled with dimes, halves, and
dollars.
If you pitch the nickel, but keep the quarter, you'll create
nasty headaches for people who pay for a 70-cent item with
three quarters.
-- Bill
Bill Ingram
> I'm not sure that it will be as easy to tell from a quarter as we have been
> lead to believe. Sure, it's gold colored and has a smooth edge, but it's the
> exact same size and weight as the Susan B. Anthony dollar
> The funny thing is that everyone knows that the size similarity is a basic
> design flaw and was a major factor in the Susan B.'s flop.
I'm not so sure. I think the big problem was that there were
TOO many similarities between the SBA and the quarter. Making
the edges smooth and changing the color should be more than
enough differences to make it easy to tell the coins apart.
The SBA flopped primarily because the $1 bill was not
withdrawn from circulation and people saw no good reason
to switch to the new coin instead of the familiar bill.
I mean, take a penny and dime from your pocket and look at
them. They are nearly identical in size and shape. The only
real differences are the colors and edges. No one seems to
have much difficulty telling THEM apart, however. Now take
a $1 bill and a $20 bill. They are EXACTLY the same shape
and size.
Of course, the media will delight in telling the story of
some little old lady that paid $8 for a cup of coffee
when she mistakenly thought she was paying for it with
quarters. But, like all the Y2K "disaster" stories you'll soon
see in the media ("Man Gets $20 Million Phone Bill!"), they
will quickly fade away.
-- Bill
John H
<patric...@unc.edu> wrote:
>As far as I'm concerned, the dollar coin is the most useless piece of
>currency in the world. Case in point, a friend of mine got several
>Susan B. Anthony dollars on a trip to NYC and promptly brought them into
>the poker game(mainly quarters and dollar bills used) when he couldn't
>use them anywhere. They circulated in the game for several months and
>nobody wanted them. The main problem, you can't use dollar coins at the
>laundry room, or to buy a soda, or any of the other main vending type
>machines. Also, I'd much prefer a couple of dollars folded in my wallet
>to a pocket of jingling coins.
Well, the problem is that you have the coin co-existing with the bill.
People will always stick with what they're used to. I always find it
extremely peculiar to come to the US and get all this damned paper in
my change.
John Harkness
"Oooh, a $2 bill! How quaint!"
Heldar
"By not having to retrofit their machines, the vending industry will save
hundreds of millions of dollars.
Not a bad deal for only a couple of hundred thousand dollars' worth of
lobbying and campaign contributions."
This is true. In fact, the new dollar coin's alloy was carefully chosen so
the electrical detection equipment in vending machines would recognize it as
a Susan B.
But it's not just the vending industry that wants to do away with the $1
bill. It costs a buttload of money to keep printing bills. The average
lifetime of a $1 bill is said to be about 9 months. For a coin, it's many
years. Therefore the government would save money with more coins and fewer
bills in circulation.
Chucky Cole
>What the vending industry really wants
>is to do away with the dollar bill.
dollar bill and pennies are useless canadian system is best
two dollar bills and one dollar coins called loons works fine everybody likes
it
North Shore Mike
<Thats_hersh_foll...@tc.umn.edu> wrote:
>Of course the Canadians have the "Toonie", but Canadian money is hardly
>worth anything these days :-)
Oh, I don't know about that. Last time I was in Vegas, a toonie was a
great conversation starter when I used it as a card protector.
North Shore Mike
(remove x from e-mail address to reply)
I played poker once with tarot cards.
I got a full house, and four people died.
Jupiler
Thats_hersh_foll...@tc.umn.edu wrote:
> However I really like the idea of having common coins that are worth
> something. In America, I typically go to my wallet first when paying
> for something. It would be much easier to go to my pocket and pull out
> a few coins. England has a coin that is worth 2 pounds, Israel a 10
> shekel piece. Each of these are worth more than $2 American. I like
> the feeling of being able to buy something substantial with my pocket
> change.
The bad thing about having high denomination coins is,
that you end up needing a coin compartment in your
wallet, since you can't keep them as loose chance
any more. Which thickens the wallet considerably.
My wallet is already bulging from the tons of cash
I make playing poker and all the free credit cards
they offer me nowadays.
In Germany we have DM 5, 2 and 1 coins, as well as
50,10,5,2,1 Pfennig. DM 5 = $ 2.50. The DM1 coin is
a little bigger than the 50 cents coin and the DM 5
is 1" in diameter. Did I mention the weight ?
Regards,
--
Ernst-Dieter Martin
email address is spam protected,
replace XL with big
John H
Cole) wrote:
WE got rid of the two dollar bills some years ago. We have one and two
dollar coins, loonies (though the loon is no longer on the coin) and
twonies.
John Harkness
jgp...@mail.com
> I'm not sure that it will be as easy to tell from a quarter as we
have been
> lead to believe. Sure, it's gold colored and has a smooth edge, but
it's the
we all
> know, is pretty damn close to the size of a quarter.
What the problem with two coins being the same (or nearly the same)
size? Need I remind you that all of the US bank notes (the bills = $1,
$5, $10, $20, $50, and $100) are all exactly the same size, color and
weight. As far as I can tell, we dont have any significant problems
telling these notes apart! Moreover, the "cost" of a mistake with the
bank notes is much more substantial (as high as $99) than mistaking a
$1 coin for a quarter ($0.75).
I am all for the new dollar coin.
Pope of Chicago
Brandon N Davison
Heh. I collect all my change. To date about 70lbs worth( all silver).
Started just because i hated to carry it, and has now turned into some sort of
half assed "hobby".
Brandon
>The government also prefers coins because people don't think they are
>worth as much. That makes people spend more money which makes them very
>happy.
Merlin1010
political contributions by coin vendors etc.) there is a simple explanation.
Coins can stay in ciruclation longer and are therefore less expensive.
Chris Waters
acceptable even to children; can't buy much for less than a quarter.
Bill Ingram
> My thinking was, round to the nearest 1/4 dollar. I think that would be
> acceptable even to children; can't buy much for less than a quarter.
That certainly would work well. But, you'd be asking people to jump
from paying for things in 1-cent intervals to 25-cent intervals.
That's too much of a change for people to accept. That's why my
"dime" system might be a good mid-term solution.
Actually, I've always thought a monetary system based on thirds
would be a great compromise between ease of use and efficiency.
Denominations would be $.10, $.30, $1, $3, $10, $30, etc.
-- Bill
Krmin
up with a pocket full of change regularly. It weights down your pockets and is
a pain to go through when you need to pay for something.
Maybe I just don't like change (pun half intended), but I would rather stay
with dollar bills.
Llew213
>WE got rid of the two dollar bills some years ago. We have one and two
>dollar coins, loonies (though the loon is no longer on the coin) and
>twonies.
>
Hmmmm....loonies and twonies......
Th-th-th-th-th-that's all, Folks!
hehehehe
Randy Griffiths
that needs to go... Why have a 1,5,10, and a 20?? Make a $5 coin next (heck
with two, why bother?) and eliminate the ten and fifty. Then you'd only have
20's and 100's. Consider reintroducing the $500, and we have a workable
monetary system for the next 100 years.
Coins are MUCH cheaper to make also. The average bill only makes it through 15
months while a coin goes for 30 years.
Just had to put my "two cents" in...
-Randy
Abdul Jalib
> I like coins myself. I always figured that the $10 and $50 bills is the ones
> that needs to go... Why have a 1,5,10, and a 20?? Make a $5 coin next (heck
> with two, why bother?) and eliminate the ten and fifty. Then you'd only have
> 20's and 100's. Consider reintroducing the $500, and we have a workable
> monetary system for the next 100 years.
Many in the government would like to eliminate the $100, to make life
even more difficult for drug dealers and professional gamblers. I've
been in countries that don't have the equivalent of a $100 bill, and
where the bills are rather large too, so that going into a casino with
the equivalent of a few thousand dollars means padding your whole body
with bills. I've also been in countries that have the equivalent of
$500 bills and even larger, which makes life much easier.
--
Abdul
Sandra Stine
Abdul Jalib wrote:
i wish we had the $10,000 bill back that way i could carry my entire bankroll
rolled up inside one chamber of my six shooter.
timmer: hee hee
Tony Oresteen
Every time I go into a bank I put down a Jackson and I ask for 10 $2
bills. Sometimes I get them, most often not. We don't need a $1 bill,
I welcome the $1 coin. Print more $2 bills.
What we really need are McKinleys and Clevelands - $500 and $1,000
bills.
Tony
Randy Hudson
In article <yerogbw...@shell9.ba.best.com>,
Abdul Jalib <Abd...@PosEV.com> wrote:
> Many in the government would like to eliminate the $100, to make life
> even more difficult for drug dealers and professional gamblers. I've
> been in countries that don't have the equivalent of a $100 bill,
Last I heard, they were still fighting over whether there would be a
100-Euro note. There is a 500-Swiss-Franc note, worth more than a 100-Euro
note would be, and a lot less vulnerable to inflation. While the stated
arguments usually refer to drug dealers, the real concern seems to be tax
evasion. European tax rates are much higher than the US. But gambling
doesn't seem to be a concern of either proponents or opponents of 100-Euro
notes.
For coins, there are 20-French-Franc coins which co-exist with
20-French-Franc bills; that coin is worth about $3 US. Acceptance seems to
be widespread.
> the bills are rather large too, so that going into a casino with the
> equivalent of a few thousand dollars means padding your whole body with
> bills. I've also been in countries that have the equivalent of
> $500 bills and even larger, which makes life much easier.
AmEx travellers' checks are available in $1000 denomination, and are the
best way to carry large sums that are acceptable to most casinos (foreign as
well as US). Somebody told me that some travellers' checks are available in
$5000 denomination, but I haven't found them yet.
--
Randy Hudson <i...@netcom.com>
John H
wrote:
Bring Back the Madisons and Chases, too.
John Harkness
CBrock
Re: dollar coins:
We've had dollar coins ("loonies') in Canada for a number of years now,
and two-dollar coins ('twoonies') were recently introduced. The rationale
was that it saved about $40,000,000 annually (I think) in printing bills.
In a country of 30,000,000 , that's not a good enough reason: I'd gladly
kick in an extra $1.33 a year in taxes, and not require a wheelbarrow to
carry home my change at the end of a day. Careful what you ask for!
C. Brock
John H
You know, you're allowed to spend your change. Coffees, subway fares,
newspapers -- you don't have to carry it home.
And the saving is much more than that, simply because they don't have
to keep reissuing new ones at anything like the rate of replacement
for bills. Multiply that savings by 10 for the US.
John Harkness
North Shore Mike
>
>Re: dollar coins:
>
> We've had dollar coins ("loonies') in Canada for a number of years now,
>and two-dollar coins ('twoonies') were recently introduced. The rationale
>was that it saved about $40,000,000 annually (I think) in printing bills.
>In a country of 30,000,000 , that's not a good enough reason: I'd gladly
>kick in an extra $1.33 a year in taxes, and not require a wheelbarrow to
>carry home my change at the end of a day. Careful what you ask for!
>
I have always been one of those guys that empties his pockets of
change every night before going to bed, and puts it into a big honkin'
jar.
Since the introduction of one and two dollar coins in Canada, my
change jar pays for one Las Vegas vacation per year, including air,
hotel, and about half of my 3 or 4 day bankroll.
One man's trash is another man's treasure, I guess.
jiffy
trouble of being killed while crossing the street and suddenly realizing
you're too heavy to make it in time :) Loonies and Twoonies are much
less trouble than bills for government and I dont think it is any
inconvenient at all for citizens. Just get that darn penny out of the
way and everything will be perfect.
jiffy
CBrock wrote:
>
> Re: dollar coins:
>
> We've had dollar coins ("loonies') in Canada for a number of years now,
> and two-dollar coins ('twoonies') were recently introduced. The rationale
> was that it saved about $40,000,000 annually (I think) in printing bills.
> In a country of 30,000,000 , that's not a good enough reason: I'd gladly
> kick in an extra $1.33 a year in taxes, and not require a wheelbarrow to
> carry home my change at the end of a day. Careful what you ask for!
>
> C. Brock
David desJardins
> Whenever I am in possession of significant US cash I wonder at the
> silliness of a government with a relatively puny $100 as the largest
> bill around.
It's not "silly". The government's objectives are just different from
your objectives.
> The equivalent pile of bills in Canada is a much more civilized and
> managable stack, even after factoring in the extra 50% needed to have
> the same purchasing power :)
That's the whole idea of not having large bills: to make large amounts
of cash less manageable.
David desJardins
Jim Mickey
wrote:
>
>What we really need are McKinleys and Clevelands - $500 and $1,000
>bills.
>
>Tony
One fact: Canada still has readily available $1000 bills in
circulation. Very common in gambling circles, and I would guess a few
other places...
Whenever I am in possession of significant US cash I wonder at the
silliness of a government with a relatively puny $100 as the largest
bill around. The equivalent pile of bills in Canada is a much more
civilized and managable stack, even after factoring in the extra 50%
needed to have the same purchasing power :)
Jim
HitTheFlop
writes:
>Whenever I am in possession of significant US cash I wonder at the
>silliness of a government with a relatively puny $100 as the largest
>bill around.
The (lost) war on drugs would be a prime reason. US cash is
worth only $100,000 a kilo, not much more than some of the
smuggled drugs.
Consider life in 1880. A silver dollar had the purchasing power
of today's C note. $20 gold pieces were stamped by the millions
thought not too widely circulated. I'm fairly certain $100 bills
were used in commerce, perhaps larger.
Best Luck,
Ed (no, not that Ed!)
"Here's for the drinks and the
use of the cantina." - Fred C Dobbs
John H
>In article <38547810...@news.direct.ca>, jmi...@direct.ca (Jim Mickey)
>writes:
>
>>Whenever I am in possession of significant US cash I wonder at the
>>silliness of a government with a relatively puny $100 as the largest
>>bill around.
>
>The (lost) war on drugs would be a prime reason. US cash is
>worth only $100,000 a kilo, not much more than some of the
>smuggled drugs.
>
Damn, what kind of drugs are you getting that are worth $100K for a
kilo? Or is that the "street value"?
John Harkness
HitTheFlop
>Damn, what kind of drugs are you getting that are worth $100K for a
>kilo? Or is that the "street value"?
I was thinking more in terms of 'within an order of magnitude' here.
How much is wholesale coke and heroin these days? Gotta be
worth $15,000 per kilo and $????? respectively.
The Big Boss Borg
rec.gambling.poker, jgx...@netcom.ca (John H)'s words fell upon my
ears like tender raindrops, saying thus:
>On 13 Dec 1999 05:09:59 GMT, hitth...@aol.com (HitTheFlop) wrote:
>
>>In article <38547810...@news.direct.ca>, jmi...@direct.ca (Jim Mickey)
>>writes:
>>
>>>Whenever I am in possession of significant US cash I wonder at the
>>>silliness of a government with a relatively puny $100 as the largest
>>>bill around.
>>
>>The (lost) war on drugs would be a prime reason. US cash is
>>worth only $100,000 a kilo, not much more than some of the
>>smuggled drugs.
>>
>
>kilo? Or is that the "street value"?
The last I checked, a kilo of cocaine was considered to be worth about
US$60K and could have a street value up to four times that depending
on how much crap you cut it with.
--Elocutus
==========
1876: The Internet was invented by Alexander Graham
Bell. Originally designed as a system to reliably
transer high-quality sound over simple copper wires,
the Internet has now advanced to a point where you
can unreliably transfer low-quality audio data over
fibre optic lines.
John H
Boss Borg) wrote:
>In my fortress of solitude, deep withing the sylvan wilderness of
>rec.gambling.poker, jgx...@netcom.ca (John H)'s words fell upon my
>ears like tender raindrops, saying thus:
>>On 13 Dec 1999 05:09:59 GMT, hitth...@aol.com (HitTheFlop) wrote:
>>
>>>In article <38547810...@news.direct.ca>, jmi...@direct.ca (Jim Mickey)
>>>writes:
>>>
>>>>Whenever I am in possession of significant US cash I wonder at the
>>>>silliness of a government with a relatively puny $100 as the largest
>>>>bill around.
>>>
>>>The (lost) war on drugs would be a prime reason. US cash is
>>>worth only $100,000 a kilo, not much more than some of the
>>>smuggled drugs.
>>>
>>
>>Damn, what kind of drugs are you getting that are worth $100K for a
>>kilo? Or is that the "street value"?
>
>The last I checked, a kilo of cocaine was considered to be worth about
>US$60K and could have a street value up to four times that depending
>on how much crap you cut it with.
>
>--Elocutus
>==========
Street value -- that is, the total monies generated by the kilo once
it's down to street level, will be MUCH more than four times the value
of the uncut key. If it's pure to start, you can step on it four to
six times, and if you're a slimeball street dealer, you can probably
step on it again. Plus, as it moves down from importer to street
level, the price goes up at EVERY LEVEL of the transaction.
But $60K at import level sounds right. Heroin is cheaper, though.
John Harkness
Bill Ingram
> We've had dollar coins ("loonies') in Canada for a number of years now,
> and two-dollar coins ('twoonies') were recently introduced.
> I'd gladly kick in an extra $1.33 a year in taxes, and not
> require a wheelbarrow to carry home my change at the end of a day.
Geez. How much change do you get in a day? Personally, I rarely
have more than 3-4 $1 bills in my wallet at any given time. Once
in a long while, I will have 10 or so. I don't see it as a big
imposition to carry around a few dollar coins.
Try spending them once in a while instead of just letting them
build up in your pockets.
-- Bill