They did it again!

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The Euro smallest paper denomination is the 5E. 2 and under are coins, each different diameter and 10¢ and under are red copper, while the others are gold colored. . It is not really a problem once you get used to it. http://www.euro.gov.uk/eurocoins.asp
If we were to do it right it would not take very long to make the change and be done with it.
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Lot's of machines still don't take the $1 coin. The government should come up with a THIRD size (we still have the old "silver dollar" size) that can't be confused with the $.25 well before dropping the $1 bill.
Unfortunately with our currency not being backed by gold or silver future inflation is all but certain. Any new $1 coin should provide for future expansion with $2 and $5 coins. Perhaps the "new" $1 coin should a little larger than the present $.10 piece but be slightly thicker and be gold in color. The $.05 piece has a smooth edge so that size can be "recycled" for a higher value coin.
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(John Gilmer) says...

The value of currency varied wildly when it was made out of gold and silver. Gold and silver are commodities, just like wheat and barley. The price goes up, the price goes down.
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True about the vending machines. Has no bearing on it though. Remember they had to do the same thing to get them to accept the old dollar coins.
If they ever expect the public to use the new ones, they are going to have to do away with the dollar bill.
Harry K
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Actually,most vending machines will NOT accept a dollar coin. Also,cash registers do not have a compartment for dollar coins.
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Jim Yanik
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Harry K wrote in message

I thought they were gold colored this time around.
Cheri
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"Cheri" <gserviceatinreachdotcom> wrote in message

So were the Sacajaweas.
The fubar was back when they did the Anthonys, picking that size. They shoulda used the old silver dollar size, or something a little bigger than a 50 cent piece, which has basically vanished from circulation anyway. I thinking the vending machine companies basically dictated the size- anything bigger than the size they picked would have made machine retrofits impossible, IIRC. They would have had to start from scratch.
aem sends...
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Don't know why? In Canada we have one and also two dollar coins. They are entirely different in size and weight etc. to quarters. We have used the one dollar for quite a number of years; in parking meters, coin telephones and vending machines etc. Some parking gates for example take the two dollar coin. Apparently coins last much longer than paper or plastic notes/bills. Withdrawing damaged 'paper money' and replacing must be quite costly, especially for small denominations such as one dollar. The one dollar coin with a picture of a loon (northern bird) got nicknamed "The loony". Unfortunately, IMO, when the two dollar was introduced an opportunity to call it a "Doubloony" or "Doubloon" was missed. It now has the unedifying nomenclature of "Twoonie" or "Toony"!
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On my first and so far only trip to Canada, the first time I heard the dollar coin called a loony, I was looking at the side with QE2 on it. I thought the Canadians were being very disrespectful of "their" queen!
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(snip)
???? I don't think anybody didn't realize <why> they wanted to get rid of the $1 bill- the business case is pretty obvious. They just were complaining about the flawed attempts, and the inability of the Gummint to see why the previous attempts failed, and repeating the same mistakes and expecting different results.
Does getting rid of the dollar bill make sense? Sure. Will it ever happen? Unlikely, at least not if they keep making these almost-a-quarter things. I don't think they truly expect the rotating presidential mini-dollars to make people abandon the paper bill- I think they just wanna tap the same collector market as the state quarters and special nickels did, and help pay off the machine tools that will just sit and rot, otherwise. Plus, just like collector stamps, every new dollar that is bought and tucked away, amounts to a free loan to the government. Once it is in a sock drawer, it isn't really functioning as money any more.
As to getting rid of the penny- also unlikely- too much sentimental attachment, and people would perceive of it as a defacto devaluing of the currency. (ie, a nickel is now a penny.)
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Technically,the Gov't could eliminate cash,both paper and coins,altogether,except that people in lower income classes often don't have bank accounts and thus can't use debit cards and may not have credit cards. It would also put a real hurt on panhandlers.(too bad!)
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In article
snipped-for-privacy@hotmail.com says...

Different colour.
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Ideally coins will save quite a bit of money over paper; although more expensive to make, they last much longer. So they keep trying it, hoping that one time they might get lucky. My son defines insanity as doing the same thing over and over again, expecting different results. Need I say more.
Why the hell don't they get rid of pennies and maybe nickles if they want to save money?
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to
Getting ride of the $.01 is a "no brainer."
But if you get ride of the $.05 but keep the $.10 and the $.25 you run into problems. Say, for example, something costs $.10 (a "legal" amount) and you pay with a $.25.
Like it or not, the $.05 and the $.10 will have to go or stay together. It will take another round of inflation before the $.10 is considered to be "junk."

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On Mon, 19 Feb 2007 08:26:35 -0500, "John Gilmer"

Dimes are currently the densest coinage available, which makes them a good choice for caches and emergency kits.
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wrote:

Chuckle- the last time I got robbed, a few years back, they carefully decanted 2 5-gallon jugs of pennies, and a half-jug of nickels, stealing all my soft luggage to drag it out in. (I had figured a 5-gallon jug was heavy enough to be safe- never occurred to me anyone would stay inside long enough to pour them out.) What makes it funny is that the idiots ignored the clear plastic quart containers of dimes on the shelf not 3 feet away, that were worth several times as much as what they stole.
Of course, did the local idiot cops bother to put out a notice on anyone trying to cash in 12+ gallons of pennies and nickels? They did not, and in the recap in the paper, it said '$50 in change', not the $500 or so it really was.
I roll it whenever the coffee can gets full now, and tuck it away in nooks and crannies. (No banks here offer use of their counting machine, and I refuse on principle to pay the 7-9 per cent CoinStar machine at the grocery wants.)
aem sends...
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Per Toller:

I can say why I'd object to their doing it: price increases.
No retail price is going to be rounded down to the nearest denomination. They'll all be rounded up.
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Why don't they just print dollar bills on TYVEK paper? It's a bitch to tear.A dollar TYVEK bill would last much longer than the present bill. It would feel different,though.
I believe no one is counterfeiting dollar bills,so they don't need all the fancy security measures.
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Jim Yanik
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snipped-for-privacy@hotmail.com says...

Stupid like a fox! (or something like that) The Mint has become a profit center by issuing coins that are 'different' than the traditional penny, nickel, dime, and quarter, thereby creating a whole new generation of numismatists (I think that's another word for 'coin collectors'). Witness the state quarters, the new nickels, and the dollars (3x). People are 'buying' these coins and stashing them away, meaning that the mint can produce them in quantities far exceeding what they would have produced normally, and pocket the profit. In the past, anytime the Mint needed a quick budgetary fix, they simply cranked out a few million $2 bills. Now they're doing it with coins. It's not unlike the Post Office printing 'collectible' stamps that will never be used for postage - it's pure profit.
Now, what were you saying about a the stupidity of beuracracy (sic)?
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Mike Hartigan wrote:

True
The "Mint" doesn't make paper money, the Federal Reserve does. None of the paper currency produced by the Fed affects the federal budget in any way whatsoever. The Fed is a separate organization from the government. It is a government corporation, similar in structure to the Boy Scouts or the Red Cross.

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