On Oct 25, 8:04 pm, "Bremick" <
rem...@cox.net> wrote:
> "Padraic Brown" <
lurien...@gmail.com> wrote in message
Something would have to fill the vacuum -- I think we *might* see an
increased use of
$2 notes; and I think we'd keep using the twenties that the ATM spits
out
as well as fives and tens. I do think dollar coins would see
astronomically
higher circulation rates *as compared to now*, but possibly not so
high as
dollar notes enjoy now. But untill the time comes, all is speculation.
I do think we will forget all about dollar notes within a year or two
of their
dissapearance from circulation. Much like what has happened in
Canuckistan.
I was there a few years ago and spent some dollar notes and the big
nickel
dollars. The restaurant and shop keepers oohed and aahed and said they
remembered when there were still dollar notes ...
I think it would be similar to some of the reactions we read about in
RCC when
half dollars or silver certs are spent. Ohh, ahh -- why, I remember
when I were a
lad...
> Today, most of the dollar bills in our wallets were
> received in change. Merchants generally don't hand out dollar coins. We
> typically leave home in the morning with yesterday's bills still in our
> wallet, so they really do circulate.
Indeed. I personally don't spend anything lower than a ten or a
twenty. Everything
else goes in a box. Every month or two, the coins go in the machine at
the bank
for deposit; the dollar notes either get deposited or changed for
something more
manageable. The only coins I spend with any regularly are dollar
coins. I usually
leave those for tips or else in vending machines or else for small
transactions of
two or three dollars.
Chalk it up to the plummet in dollar value.
> That's why they wear out. People like
> to use them.
I hate using them. You can't really *buy* anything for a dollar
anymore. Even in
the vending machines at work, the prices have all gone up to $1.50 --
WAY too
much for a packet of chips. And not to mention, the wanks at the
vending co
haven't modified the bill acceptor to accept more than one dollar
note...
I don't think people "like to" use them. At present, there is simply
no alternative.
The alternative that exists is one you have to seek out and
specifically ask for.
Most people aren't that willing to go to a bank just to get dollar
coins. I don't go
out of my way to get dollar coins. If the teller happens to have some
when I'm
there, all well and good!
> If we started receiving dollar coins in change, the tendency
> would be to dump them like along with our other coins at the end of the day
> and leave home the next day with no coins. The coins eventually would end
> up being cashed in, if that's considered circulating.
Some yes. I do think there would be a far greater likelihood of those
dollar coins
getting spent during the day the way dollar notes are now. Even if at
the end of
the day, all the remaining coins and low value notes get tossed in a
box.
> Personally, the prospect of carrying four dollar coins received in change
> would be less attractive than receiving four paper bills, which would be
> nearly invisible in my wallet.
An old canard. I know this specific argument was hashed out and
rebuffed back
in the late 90s when the brassbux first came out.
> We are used to our coins having minimal
> purchasing power in themselves, so instead of carrying a pocket full of
> mixed change, most people make their cash payments with bills-- even dollar
> bills.
I am now used to most of our banknotes having minimal puchasing power!
I can
just remember when a dollar had some purchasing power. Kids today will
probably barely be able to recall when $10 had much purchasing power.
> I find it foolish in a government that often changes dramatically every four
> years, that some coin advocates are projecting savings over a 30-year
> period. We can't be sure what things will be like a few years ahead, let
> alone 30 years from now when using actual cash may have become quaint and
> most of those long-lasting dollar coins will still be in federal storage
> vaults.
Another tired argument. Suffice to say that for the forseeable
future, cash will
still be king as it is always has current and immediate value. Don't
have to
wait for checks to clear or Spraypal to screw up or credit accounts to
get
sorted out. Ease of use, no devices required, no net access required,
no
possibility for piracy or identity theft; especially for small
transactions will
ensure you get to spend cash for a long while to come.
> So while people may indeed get used to not having paper dollars, they may
> not embrace dollar coins as easily.
"Embracing" dollar coins was the never at issue. There simply won't be
a
choice. You either use the coins or you don't. Just like now -- you
either
use the rags or you don't.
> It will have to start with the
> merchants, who are the source of most of the change we carry. Will they
> automatically use dollar coins if increased production of $2 bills occurs
> with the demise of the $1 bill? Or might they prefer handing out $2 bills
> and quarters in change instead? I doubt the Congressional coin proponents
> have looked much beyond their coarse statistics and examined some of the
> human factors involved.
Me, I don't think the dollar note is going to go away. Crane and their
lobby in
Congress and the fact that they are based in Kennedy Kountry spell
continued
success and long life for the dollar note. Should the dollar note go
away, I am
*sure* that some political finnagling shall have taken place to the
effect that
$2 notes will be rolled out in their zillions. It is entirely possible
that the long
time back-benching deuce will come to the fore and take over where the
dollar
rag left off. If a more radical approach is taken where the 1, 2 and 5
dollar
notes are terminated, then I don't think there will be any choice at
all but for
banks, merchants and people alike to use 1 and 5 dollar coins --
unless you
like getting close to a roll of quarters in change to go with that
over-priced,
under-weight snickers bar.
Padraic