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.
If we were to do it right it would not take very long to make the change and
be done with it.
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.
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
If they ever expect the public to use the new ones, they are going to
have to do away with the dollar bill.
"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.
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"!
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!
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
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.)
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
It would also put a real hurt on panhandlers.(too bad!)
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
Why the hell don't they get rid of pennies and maybe nickles if they want 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
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
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
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.
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)?
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
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