They did it again!

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snipped-for-privacy@att.net wrote:

Yup, and the mint labor and shipping aren't inconsequential either. I think the current "cost" to get a penny into circulation is about 1.4 cents.
Jeff
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Jeffry Wisnia
(W1BSV + Brass Rat \'57 EE)
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The idea has been to do away with the dollar bill ever since a dollar coin was proposed. I even saw an article somewhere prior to the release of this one pointing out that use of the coin will not be really accepted until they just quit producing a dollar bill. I guess it just goes to show more of their stupidity.
Harry K
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They ought to do away with all coins and make all money as bills. Even pennies. :-)
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AL wrote:

A few years ago, when much of Europe switched to a unified currency (the euro) they researched the issue and concluded that it would save printing costs if they eliminated the smaller bills. I think the smallest bill they issue is the 5euro (about equivalent to 5 dollars) and everything smaller is coinage. It seems to work well for them, and I'd just as soon not be hauling around a wad of tattered ones, that probably last about 12 months before needing to be replaced.
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Instead of hauling around a wad of tattered bills, if you lived in Europe you'd be hauling around a batch of HEAVY pocket-busting coinage. (Think Seinfeld where Kramer tries to pay for a pizza (calzone) with his accumulated small change.) The Europeans are pretty smart about lots of things but this isn't one of them.
As to the penny, if people really wanted to eliminate it they'd have done so already. It's quite feasible for the merchants to round up or down or even to round always in the customer's favor thereby not incurring any complaints but they don't. I only have one place, a fish store, where the merchant effectively lops off the last digit and sometimes even more. I've had totals of (say) $24.37 and he has asked for $24.00. But this is a rarity. And the fish store is an upscale super-expensive establishment.
Try it yourself. Go to the supermarket and spend (say) $3.51. Tender $4.00 and watch while the cashier gives you exactly 49 cents change. If they don't have enough pennies they'll sometimes ask you if you have one cent. No just giving you two quarters. So contrary to the "put 'em in a big jar" crowd I find it highly advantageous (not to mention less lazy) to try and pay the exact amount of the bill which necessitates carrying and using change. After all that's what it's for.
For those who say the "change jar" is a way of saving I suggest they look into the concept of "present value".
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On Sun, 18 Feb 2007 23:27:35 -0600, someone wrote:

And the very idea is to eliminate the dollar bill.
Reply to NG only - this e.mail address goes to a kill file.
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On Mon, 26 Feb 2007 22:25:46 GMT, snipped-for-privacy@verizon.net (v) wrote:

Right you are!
If we got rid of the penny, and the paper one dollar bill, things would get much more convenient.
...of course, for some people there would be a learning curve.......
Alan Moorman
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Per Rick Brandt:

Actually, it seems tb a problem for a *lot* of foreign visitors who can't imagine a monetary convention where all bills are not only the same size, but have identical coloring and similar graphic shapes/placement. I've been hearing stories from/about new arrivals on that subject since I was a kid.
For residents who are used to this, it's still not comparable. A U.S. bill of any denomination is over fifteen times larger than a quarter coin and all that area is occupied by bill-unique graphics. And *still* lifelong citizens complain about the lack of distinctiveness in bills - especially older ones.
The color might help the new coin. But, lacking a size diff, I'd opine that it needs at least a different shape - like hexagonal or something... anything to make a tactile distinction - in order to have a chance with us unwashed masses.
Now if they could come up with a Dolly Parton dollar..... -)
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PeteCresswell

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Now _that_ I would be for. Might be a problem keeping it to a reasonable size though. ;)
Harry K
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The same problem as coins you can't tell by size. You have to look at them each and every time. Now you can't do much about paper bills as they will all feel the same no matter the denomination but there is no reason the dollar coin couldn't be made enough bigger than the quarter to be told by size. Say about 1/2 way between the quarter and 50cent coin. You could sort coins by denomination in your pocket by feel up until the dollar coin.
Harry K
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There is, actually: It would then be necessary to change every vending machine in order to get it to accept the new size.
A penny and a dime are almost the same size, too, but they're easy to tell apart because a dime has a rough edge and a penny has a smooth edge. At least the new dollar coins have smooth edges.
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Harry K wrote:

C'mon, it IS bigger AND a different color AND with a different edge.
The reason dollar coins are not popular is because COINS are not popular. We put up with the others because we have to and the majority of us carry them precisely as long as it takes to dump them in a big container at the house.
Dollar coins (of any shape and size) will catch on 100% the moment they stop printing paper dollars.
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Rick, that is not entirely true. Dollar coins would be popular if vending machines took them. They don't. Vending machines have been modified to take dollar bills, not dollar coins. If the machines would have been modified to take the coins, the dollar coins would likely have become more popular. Maybe not mainstream, but more popular. At least useful enough for people to carry around to use in vending machines at work or in public places like malls, airports, or whatever.
Coins are popular for saving because it's easy to do. We dump them in jars at home and then roll them up because it's an easy way to save. We then take the rolls to the bank and deposit them into our savings accounts. The dumb ones that are too laze to count them and roll them up themselves take them to those machines that count them up for them and give them a receipt. They "pay" for that service by not getting full value for their coins.
I think that eventually, pennies will likely be taken out of circulation altogether. It almost costs more than a penny to make a penny (if it doesn't already). Might as well just round things to the nearest nickel and forget about pennies.
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A question about dollar coins was posted and to this I say:
Better yet get rid of all coinage and paper money! Some years ago my folks went to Finland to visit the relations and the locals "load" there cell phones with credit than when they want A candy bar or A soda they aim the phone at the vending machine and pull the "trigger" which activates the machine vending the product of choice deducting the cost from the stored credit on the phone.No muss-no fuss and no dirty lucre to lug around. This would really P.O. the street level drug dealers and prevent vending machine owners from any profit skimming . Haven't figured out the tag sale problem yet but give me time to work on it! H.R. P.S. I understand Japan has the same kind of thing on there phones.
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snipped-for-privacy@webtv.net wrote in 3318.bay.webtv.net:

What do the people who can't afford cell phones do?
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Jim Yanik
jyanik
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Jim Yanik wrote:

There seem to be two alternatives:
1. They starve. 2. The government provides free phones.
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A question was posted: "What do people who can't afford cell phones do?"
I'm A civilian employee for A large midwestern police dept. and when "street people" are busted for outstanding warrants etc. about the first thing that comes out of there pocket when our officers shake them down is the cell phone. And what makes you think that there are no poor people in Finland or Japan?
H.R.
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I don't use them for that reason. However, when travelling to Canada I never have a problem with their Loonies so I think it's probably psychological. I think if they take away our paper $1 we would adapt fairly fast. Bob
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Yep!
"Cold Turkey" is the only way to go.
That's how England introduced the Thachers (the 1 pound coin): after a certain date the paper money was no long legal currency.
The English coin is a GREAT design: it's is about "quarter" sized but almost twice as thick. It's gold in color. The edge has find "curling" plus some extra lettering.
I don't know the situation today, but back in the 80s, the Bank of Scotland still printed 1 pound paper notes which WERE legal but the Bank of England 1 pound paper bills were not.
That's why there will always be an England and a Scotland and a Wales!
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Vending machine and coin-counter companies spent gobs of money making their machines accept the size and weight of a dollar coin. I don't expect the government to change those lightly.
The real problem is that the "dumb *&)s" won't quit printing the dollar bills -- or pennies.
I used to work for Brink's armored car. Every time a new bill design comes out, they have a fire drill getting the bill counters updated with the new specs. It's non-trivial.
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