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Replacing the dollar bill!

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.

Physical cash is a memory now, I don't remember the last time I had a single paper bill on my person, I pay for everything electronically and if a business doesn't take plastic, they don't get my business.
 
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.

Since virtually all debit cards have a Mastercard or Visa logo, it's not annoying at all. Swipe your card. You don't even have to sign for transactions under $20.
 
Since virtually all debit cards have a Mastercard or Visa logo, it's not annoying at all. Swipe your card. You don't even have to sign for transactions under $20.

Really here it usually involves putting your card into the machine then putting in your PIN number and waiting for for it to be accepted.
 
Really here it usually involves putting your card into the machine then putting in your PIN number and waiting for for it to be accepted.

That's to get cash. Why handle cash at all? Pay for it at the register with the card.
 
nah thats what im saying Americans dont put their pins in for transactions yet.

I can't tell you how aggravating this is to me. Alllll the stolen credit cards . . . alllll the fraud. And something simple as a PIN solves 90% of it. Makes me wonder why they don't require it...

And, as always, I'm followin' the money. I just can't figure it out yet.
 
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 Obviously the dollar bill is outdated and it makes economical sense but we all know people tend to hate change, do you think it will finally go through?

I'd suggest $1 and $5 coins, with folding money beginning at $10 and up. Also, whack completely the penny, nickel and dime, bearing in mind when we created the penny, it had more value that a $1 today. Thus rounding purchases to 25 cents would not impact consumers or businesses to any great extent.
 
I can't tell you how aggravating this is to me. Alllll the stolen credit cards . . . alllll the fraud. And something simple as a PIN solves 90% of it. Makes me wonder why they don't require it...

And, as always, I'm followin' the money. I just can't figure it out yet.

from what I gathered its because of the cost to switch over to the chip and pin system that is holding it up but it will be implemented in the US eventually.
 
I'd suggest $1 and $5 coins, with folding money beginning at $10 and up. Also, whack completely the penny, nickel and dime, bearing in mind when we created the penny, it had more value that a $1 today. Thus rounding purchases to 25 cents would not impact consumers or businesses to any great extent.

Now think about a company doing thousands or even just hundreds a day it adds up at 25 cents.
 
Now think about a company doing thousands or even just hundreds a day it adds up at 25 cents.

No; it balances out, due to the law of large numbers. Only on a very small number of transactions would it skew high or low.
 
Wait, what? What stops people from stealing their card and using it?

nothing lol which is why I didnt like to use my card online etc when I lived in the US, used to annoy me a lot. Plus when I went home to the UK no where would accept my America debt card because it didnt have a chip.
 
i guess i don't really care one way or the other, but i wouldn't be surprised if businesses fought this. it would necessitate a major re-tooling of every automatic teller / self serve machine in the entire country. i'm sure that won't be cheap.

they try this all of the time; Eisenhower, Susan B. Anthony, Sacajawea, the presidential dollar, and the list goes on. i've got some really old dollar coins in a lock box which my grandfather collected for me to put towards my college. i got a scholarship, so i didn't have to sell them. they are pretty cool.
 
It's no big deal to lose paper or coin money, one or the other, but to lose physical currency entirely is where I draw the line.
 
Credit Cards don't have PINs but many circumstances require the security code and zip code. So losing your card puts you at very little risk. Debit cards also require a PIN.

Wait, what? What stops people from stealing their card and using it?
 
The hundred dollar bill IS being changed due to counterfeiting primarily in other countries. I would think it'd cost much more to make a coin dollar than print a paper dollar - even having to replace the paper dollars time to time.
 
US strippers will have to wear helmets now. ;)

How OLD are some people on this forum?? A dollar for a stripper? Maybe when a loaf of bread was a quarter. A dollar to a stripper is like leaving a dollar for a waitress.

But "A twenty will get you plenty.";)
 
How OLD are some people on this forum?? A dollar for a stripper? Maybe when a loaf of bread was a quarter. A dollar to a stripper is like leaving a dollar for a waitress.

But "A twenty will get you plenty.";)

Could be, as in my case, a couple dollar bills was sufficient the last time we visited such a place, which admittedly was back in the dark ages.
 
On paper (see what I did there), the idea to replace the $1 bill is sound. In reality it is likely to be not accepted and doomed to failure because once again the coins will fail to gain traction and circulate.

They have been trying over and over to get a $1 coin into circulation for as long as I recall (Susan B Anthony's in 1979 was the first I distinctly recall, but there were a few Eisenhower dollars floating around then as well.) Each attempt has been a failure. Americans just do not want to accept or carry around $1 coins (admittedly I am one of them - I am anti-pocket clutter and coins are just that). So in theory and on paper, yes a $1 coin is a sound idea and would be cheaper - in reality it is a waste of money because it will be doomed to fail just as all the previous attempts have as well. You would think that this would be obvious by now.

I suppose if they were to do so, then they should coincide the move with ceasing production of $1 bills and force the issue. I will hate it, but that is the only way that it will likely work.
 
nothing lol which is why I didnt like to use my card online etc when I lived in the US, used to annoy me a lot. Plus when I went home to the UK no where would accept my America debt card because it didnt have a chip.

Since the beginning of time, our debit cards have always had a PIN attached to it either for use in an ATM or in a store. However, our debit cards have traditionally been attached to a bank account, not to a credit card account, so you could potentially purchase thousands of dollars worth of goods with your debit card, provided you had money in the account to cover it. I think what you're referring to is a Visa or Mastercard debit that is, in effect, a pre-paid credit card with a balance and similar to a credit card didn't need a PIN number.

Now, even our credit cards have PIN numbers and only small purchases, under $50 usually, can be made on credit or debit without a PIN. For those purchases, you just have to "tap" the reader and the charge is made and completed. Observer, I'm pretty sure, was thinking about our debit system which has always been much more secure.
 
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?

It blows my mind that Senators would make a move to put an economic hurt on strippers, I mean, they are the main supporters of such workers.
 
How OLD are some people on this forum?? A dollar for a stripper? Maybe when a loaf of bread was a quarter. A dollar to a stripper is like leaving a dollar for a waitress.

But "A twenty will get you plenty.";)

yeh you give them a 20 but you dont give to them upfront you make them work for it and shower them in 1's throughout ;)
 
No that's how paying for things with a debit card works.

Funny, I pay for things with my debit card all the time, I haven't been to an ATM in almost a year, and then only to deposit checks. Oh yeah, checks are another thing I never use.
 
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