Bills to coins could save money

#1
utvolpj

utvolpj

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#1
eliminating-1-bills-could-save-billions: Personal Finance News from Yahoo! Finance

Earlier this month, the U.S. Government Accountability Office issued a formal proposal to the Treasury and Federal Reserve noting that if it eliminated the $1 bill and replaced it with the $1 coin, the country could save roughly $5.5 billion during the next 30 years. The reason, according to the agency's report, is that dollar bills have a shorter lifespan than dollar coins because they wear much faster, which in turn requires the government to spend more to print new bills.
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sounds simple right? Amazing no one thought of this before...

Before you start hoarding your dollar bills though, keep in mind that the GAO has made similar proposals four times during the past two decades, and obviously dollar bills are still in circulation.
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So why are they turning it down? Well it seems that Americans prefer bills to coins so there hasn't been a move to do this. However if there's one positive to this administration it's that they've shown they don't really care what the American people want. Get it done!
 
#2
#2
I'm for it. I didn't have a problem with it in Europe. Most of us use cards now anyway. I usually keep a few bucks in the wallet to grab a drink or something, so it's not like a few $1 coins will weigh me down.

If they want the coinage thing to work, they need to remove $1 bills. For some reason, us dumb Americans think everything is a collectors item rather than something to be spent. Rolls and rolls of worthless Sacajawea coins hoarded by 70 year old men.
 
#5
#5
droski said:
can't we just get rid of pennies?
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This. When I started in banking in the 90's I remember this idea being kicked around. I can't remember the exact figure, but the amount estimated to end in landfills was in the 8 figure range. And thems 1996 dollars.
 
#13
#13
I'm picturing them trying to figure out how to shake the booty without losing 15 lbs of metal from the g-string. But it will probably just result in drunken idiots pelting them with coinage in some perverse game of cornhole.
 
#14
#14
Interesting idea, but all those vending machines and cash registers aren't designed for 1 dollar coins. Have a feeling their special interest will beat it down. I know a few people who dont even use cash now, they only use their debit card for everything. I think that's where we are ultimately headed.
 
#16
#16
dhendri said:
The important question is what do the strippers think of this
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Simple: when you enter the place you exchange coinage/bills/credit card for Strip Club Money. The strippers then take it and trade it back at the end of the night for cash.
 
#17
#17
I always did want to use monopoly money at a strip club.
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#18
#18
1. Get rid of the penny
2. We already have the Sacajawea dollar coin. Keep it.
3. Create a new $2 coin with Lincoln on it
4. Create a square $25 coin :crazy:
 
#19
#19
Rasputin_Vol said:
1. Get rid of the penny
2. We already have the Sacajawea dollar coin. Keep it.
3. Create a new $2 coin with Lincoln on it
4. Create a square $25 coin :crazy:
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A tophat or Lincoln beard shape coin would be fun.
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#20
#20
dhendri said:
I'm picturing them trying to figure out how to shake the booty without losing 15 lbs of metal from the g-string. But it will probably just result in drunken idiots pelting them with coinage in some perverse game of cornhole.
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Without going into detail, I've seen some things...

JayVols said:
A tophat or Lincoln beard shape coin would be fun.
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Nice idea. Coins shaped on historical figures would be rad.
 
#21
#21
milohimself said:
Without going into detail, I've seen some things...



Nice idea. Coins shaped on historical figures would be rad.
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The top hat coin could double as bling if you included the bullet hole. Simply run a chain through it. I know that is absolutely terrible....hard to resist. Boredom transforms me. It's my personal gamma radiation to use a Hulkism.
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#23
#23
JayVols said:
The top hat coin could double as bling if you included the bullet hole. Simply run a chain through it. I know that is absolutely terrible....hard to resist. Boredom transforms me. It's my personal gamma radiation to use a Hulkism.
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Oh, man...
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