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Replacing the dollar bill!

MaggieD

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Senators again try to replace dollar bill with coin

Just wanted to see what all our American posters thought about this? Obviously the dollar bill is outdated and it makes economical sense but we all know people tend to hate change, do you think it will finally go through?
At a time when we're looking to save whatever money we can in our national budget, an $8 billion savings isn't chump change. Stop talking about it and just do it. Please. No Congressional Hearings.
 

Higgins86

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At a time when we're looking to save whatever money we can in our national budget, an $8 billion savings isn't chump change. Stop talking about it and just do it. Please. No Congressional Hearings.
US strippers will have to wear helmets now. ;)
 

OscarB63

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the biggest problem with the last couple of attempts is that the geniuses who designed the damned things made them the same size as a freaking quarter.
 

KevinKohler

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Moot. In 10 years, physical cash will just be a memory.

Many companies are going paperless now, so not even a paycheck to cash. It's either direct deposit, or an ADP card on which paychecks are placed. Stubs will be viewed online only.
 

KevinKohler

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Couple that with the fees banks charge for withdrawals and check cashing, it's just a matter of time.


I haven't had actual cash in my wallet in over a year.
 

Carjosse

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Moot. In 10 years, physical cash will just be a memory.

Many companies are going paperless now, so not even a paycheck to cash. It's either direct deposit, or an ADP card on which paychecks are placed. Stubs will be viewed online only.
You do know people buy things with cash right? It's really annoying to use your debit card for say a transaction of two dollars.
 

rocket88

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Couple that with the fees banks charge for withdrawals and check cashing, it's just a matter of time.


I haven't had actual cash in my wallet in over a year.
I very rarely carry more than a $20. It's good to have, but I can go a week without much paper currency. Coins I need to get a soda at work.

I think they should replace the bill with a coin, and they should do it the way Canada did - say we just ain't making them anymore, cope. If we do it like we tried to adopt the metric system, it ain't gonna happen.
 

grip

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They couldn't even get rid of the penny, more less the dollar bill.

I think they'll eventually try and get rid of all currency and exchange it for credits but they won't phase out money one domination at a time.
 

KevinKohler

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You do know people buy things with cash right? It's really annoying to use your debit card for say a transaction of two dollars.
I'm aware of this.

I'm equally aware that the cost of dealing in cash is going to exceed the cost of dealing in credit and debit for both buyers and sellers. Like I said...give it ten years. I'll bet a 20 on it. Lol.
 

davidtaylorjr

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longview

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The Canadian ones too. The ones in Ft. Erie only take American currency.
That's because a loonie or toonie hurts when thrown.:)
Every time I visit Canada, their idea of a $1 and $2 coin seems like a good one.
 

rocket88

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That's because a loonie or toonie hurts when thrown.:)
Every time I visit Canada, their idea of a $1 and $2 coin seems like a good one.
Especially the toonies, those things are huge. One of these days I'm gonna try the freezer trick with one.
 

Gipper

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US strippers will have to wear helmets now. ;)
American strippers consider singles to be insults these days.

That aside, I support it. Dollar bills get worn out faster than Snooki's joy-hole - and passed around about the same.
 

CanadaJohn

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I have no problems with Canadian loonies ($1) and twoonies ($2) coins. We also just got rid of the penny and nobody seems to be too concerned about it.

For me, I empty my pocket of any change I've collected at the end of each day and put it aside and it's "rolled" and brought to the bank once a month and deposited in a savings account. It's a good savings plan for me. If you've got kids, it's a good savings plan for them too, teaching them how to save up for something they want.

Canadians adopted debit cards long before Americans accepted them and we can't do without them now - coins won't be a big change, pun intended, and it does save your federal mint lots of money too. Next, you should start looking at the new polymer bills too.
 

Higgins86

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I have no problems with Canadian loonies ($1) and twoonies ($2) coins. We also just got rid of the penny and nobody seems to be too concerned about it.

For me, I empty my pocket of any change I've collected at the end of each day and put it aside and it's "rolled" and brought to the bank once a month and deposited in a savings account. It's a good savings plan for me. If you've got kids, it's a good savings plan for them too, teaching them how to save up for something they want.

Canadians adopted debit cards long before Americans accepted them and we can't do without them now - coins won't be a big change, pun intended, and it does save your federal mint lots of money too. Next, you should start looking at the new polymer bills too.

Have Canada upgraded to the chip and pin cards yet?
 

specklebang

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Ah, you young guys. I have friends who NEVER have cash on them. Yesterday, I went with one of these resisters to lunch. He was supposed to buy me lunch but I ended up paying because the place didn't take cards. Then I loaned him another $20 to pay for a notary.

I love Sci-Fi and the exchange of currency by electronics. But it doesn't provide for anything "off the books". How will you buy drugs without cash? How will you pay bribes?

Another coin these geniuses will spend a fortune on. Another failure. Why? Is the system not working now? Unfortunately, between the coins we have now, we used up all the logical sizes. Dime, penny, nickle, quarter and the half. When was the last time you even got a 50¢ coin in your change? How often do you see a $2 bill or a $50 bill?

Sure, they could eliminate crime by getting rid of money. They could even just change the money and refuse the old money after you turn it in (as the military used to do with their overnight swaps). But trust me, they won't do this.
 

Higgins86

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To my knowledge they have though I have only been to the North East where a Canadian bank is fairly popular.
they have it but its not yet mantatory and you still have to swipe your cards in most places. I lived there for 3 years and they only just got the pin cards in 2012 at my bank.
 
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