Re: How do I approach my currency revamp issues?


"Padraic Brown" <elemtilas@xxxxxxxxx> wrote in message
news:1t7du39pnoi3748d8cda6nubd56a6b4kmu@xxxxxxxxxx
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.)

I'd like to see a $2 or $5 coin. Like you said, thicker would make it stand
out. At least we should give it a try, if possible without all the tiresome
input about who or what should be on it. Just go with a "generic" Liberty
or something for a couple years to see if the public will accept it first.

And speaking of size, I wonder if a reduced (dime) size one cent coin with
the current metals has been considered. Might solve the metal problem, and
since cents aren't used in vending machines, only mechanical coin counters
should have to be adjusted. But then the numismatic lobby would probably be
against it because collectors would have to get new albums. So much for
that idea.


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?

Status quo, plus credit/debit cards like on most all gas pumps?


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.

$2 and $5 coins would work here, but again, we're getting into credit card
territory with higher priced goods in vending machines. I still see that as
the way we seem to be going more and more.

Bruce





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Relevant Pages

  • Re: How do I approach my currency revamp issues?
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  • Re: How do I approach my currency revamp issues?
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