Friday, November 30, 2012

Congress looks at doing away with the $1 bill

     Will the paper $1 fall under its own weight before plastic transactions wipe out currency and coin transactions all together ?
      Once again, the Congress has before it an easy way to cut some costs in getting rid of the paper $1 in favor of dollar coins which are already minted and last a lot longer.
      The public has resisted the metal $1 and for the most part refused to use it.
       These days even the smallest transactions are done with credit and debit cards which provide the ultimate in ability to track the public, something the government loves.
      However there is still a need for real money, and Congress should force the transition in order to save the modest amount in coming years.
       Congress looks at doing away with the $1 bill


Anonymous said...

Perhaps the dollar coin would have gained wider acceptance had it not been so similar in size to a quarter which caused people to often mistake the two.

As for saving money; how about the Postal Service discontinuing printing dozens of stamp variations which are unaccepted, unsold and destroyed at the cost of millions of dollars.

Were there a Department of Boondoggles, Ignorance and Errors it would be the most successful arm of the US Government.

Anonymous said...

This is not news. Congress has been trying to get rid of the dollar and replace it with the Yuan for four years now.

Anonymous said...

All postage stamps should just have the denomination on them. To print a large variety of them is silly as they might just have a black mark on them soon, and who really looks at them?

Coins are better than paper money as they last much longer. If the complaint is that coins are heavier, start spending them. Good for the economy!

r said...

A very simple answer lies just over the bridge to what Canada did; inform the folks that as of January 1st your $1 bills will be no good. We (Canada) will be changing to a metal coin (Looney) and you will use it or not...your choice. Well we know what the result was...the folks loved it and now have the Tooney to go with it. No confusion, no questions...just good fiscal management. Once again we are shown the way by our northern neighbors. Let's get with the program here.

Ray said...

Tell me what we are to do without a dollar bill? I am not going to carry a change purse around.

Anonymous said...

If the current congressman are anything like our 2 recent candidates, $1 currency in any form isn't pocket change to them, it's a nuisance, much the way some people feel about the penny. I see people walk by pennies on the ground all the time. To our millionaire filled congress, carrying a wallet full of pesky singles is likely very annoying. If the dollar becomes a coin they can just easily toss the inconsequential currency into a jar with the rest of the inconsequential coins.

I have even seen people throw coins in the garbage. On purpose. Ohh, to be a millionaire.