Re: How do I approach my currency revamp issues?

On Sun, 23 Mar 2008 17:29:06 GMT, Jim Seymour <nntp.js@xxxxxxxxxxx>
wrote:

Padraic Brown wrote:
On Sat, 22 Mar 2008 22:42:42 -0700 (PDT), malanutt4life@xxxxxxx
wrote:
[...] I'm not really worried about $1 or $2 coins anymore, because
it has come to be very clear that Congress will NOT eliminate the
$1 or $2 bills anyway. So I give up on that one. As much as I wish
they would get rid of them.

Why give up on that one? *That* is the one that will be more likely
than the reintroduction of high denomination notes or the
introduction of an entirely new denomination note!

Exactly! Of all his ideas, that is the only one *I* care about - and
the only one I think has any chance of being implemented.

Congress (right or wrong) will see high denomination notes as being used
ONLY in the underground economy - so there's a strong disincentive to
reissue those.

And the changemakers have no trouble using two quarters instead of a
half dollar - so really only the collectors care about that denomination.

But the dollar coin/bill issue has received significant press in recent
years. After the election's over, I wouldn't be surprised to see
somebody champion the cause. (Whether it gets any traction, though, is
yet to be seen).

Agreed on all points.

I'd rather see that smaller but rather thicker coin be either a $2 or
a $5 rather than waste it on small change like a new 50c. (I think the
size of the 50c coin would make it ideal for semi-circulating
commemorative issues. *Real* commems, not just "let's celebrate all
the states or prezidents" kind of thing -- real achievements past and
present.)

The vending machine issue is also important because the introduction
of a new 50c coin would either require *legislation* that forces all
vending machines to accept the new coin or else the industry will have
to be willing to retool all on its own. Guess what the vending
industry would choose if left to its own devices?

I'd rather see that size coin be a *higher* denomination rather than a
lower, because then vending machine makers might take an interest
where they wouldn't take an interest in a lower denomination coin that
is already capably being handled by two quarters.

The dollar coin has proven its worth in vending machines of all kinds
for decades. With more kinds of complex vending operations (like food
services and drinks) that often cost more than a dollar, the utility
of higher denominatin coins would be more certain than a lower.

Padraic

--
Posted via a free Usenet account from http://www.teranews.com

.

Relevant Pages

  • Re: How do I approach my currency revamp issues?
    ... than the reintroduction of high denomination notes or the ... Congress will see high denomination notes as being used ... size of the 50c coin would make it ideal for semi-circulating ... since cents aren't used in vending machines, ...
    (rec.collecting.coins)
  • Re: So this is your great (STUPID) plastic
    ... note, may help people want to switch to the $1 coin, and maybe ... address the need for your series of three large denomination notes. ... Here you can bring in the issues of CC and identity fraud, ... Redesigning the $2 to conform with the $5 ...
    (rec.collecting.coins)
  • Re: So this is your great (STUPID) plastic
    ... note, may help people want to switch to the $1 coin, and maybe ... address the need for your series of three large denomination notes. ... Here you can bring in the issues of CC and identity fraud, ... Redesigning the $2 to conform with the $5 ...
    (rec.collecting.coins)
  • Re: Are US denominations efficient?
    ... Coinage reform is an eternal axe-grinding topic here ... > There is a practical advantage to the US 25 cent coin that outweighs ... Every coin-op vending machine in the country takes ... > small denominations, and the design and introduction of new larger ...
    (rec.collecting.coins)
  • Re: Best Way to Spend?
    ... Or put it in a vending machine to buy a pop (definitely will work ... like she might have kids. ... I like the vending machine or bus methods because it is more ... likely the coin will circulate a little before being snapped up. ...
    (rec.collecting.coins)