While other countries have done well with dollar coins, the US has had trouble getting traction and the latest series of President coins will see production halted as the Obama Administration says its costing money to produce money no one wants.
Of course the reason the dollar coin hasn't caught on is the paper $1 is still hanging around and people don't want to admit money has been devalued as much as it has over time.
The case for coins is they cost more to produce but last much longer.
Dollar coins will be phased out – USATODAY.com
7 comments:
Here is the way to handle this situation...like Canada did...and that is to say to the folks; OK, your paper dollars are good for another 60 days and then they are worthless. You may exchange them at any bank...but only for sixty days. We will then exclusively use the Loony and that's that.
Coins make so much sense for everything. I don't understand why the U.S. does not get it.
Makes sense if you carry a change purse. What would make sense is taking all money away and giving us debit cards for everything.
We always seemed to make our dollar coins a political statement, rather than focus on a coin to use. Who wants an Indian babe on your dollar? Sacajawea or some such was the last joke.
Idi has it right. The banks make billions in fees with debit cards while and it costs them next to nothing to process and mint electronic money. Meanwhile the government mints real money at a loss and does nothing to encourage using electronic money.
Canada ends in "da" for a reason.
Were the recent dollar coins not so near in size to a quarter, which they were often mistaken for, they might have had greater appeal.
Debit cards or electronic cards would be just the thing. No more accepting money "under the table" and not paying tax on it. Every penny would be traceable and accountable. Maybe Sen.Shmuckie will latch on that notion and do a photo op.
What is that "da" thing? Is that clever? I have no understanding of the "da". What "da" hell are you talking about?
Great idea this electronic card thing! We start using them and if I ever need to know what kind of toilet paper I need to pick up at the store or I spent on beer last year I can just have someone look it up for me.
What a fantastic idea!
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