To the editor:
I don't have a dog in the fight on whether (again) a dollar coin will succeed, but it seems to me based on the article of Feb. 12 that research shows Americans simply won't accept one; they'd rather stick with an old greenback in their pocket instead of a large coin. Surely, the Susan B. Anthony coin should have proven that.
For the U.S. to fully implement a dollar coin, they'd have to go the route of the United Kingdom. Back in the mid-1980s the British abolished their timeless 1-pound note in favor of a 1-pound coin. Today in the UK you won't find 1-pound notes, but 1-pound coins abound. That's the only way a dollar coin will succeed here.
David Teska,
Lawrence
Comments
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mike_blur (Mike Blur) says…
Let's do it, then.
Abolish the paper dollar note, give people six months to spend/convert their dollar notes, and convert to the dollar coin.
While we are at it, let's do away with the one-cent coin as well. Cents can still function in everyday monetary transactions, but the coin is needless and burdensome.
Doing away with the cent and the dollar note will thusly free up space in merchant's cash registers for the dollar coin and the $50 note, which is beginning to replace the functions the $20 performed in years past.
Newell_Post (anonymous) says…
Agreed. One good thing the Brits did with the one-pound coin is to make it much thicker (fatter) than other coins. This makes it very easy to distinguish by feel and very easy for vending machines to recognize. In our case, they have changed the color of the coin, but the size of the thing is still the "Carter Quarter" size used for the Susan B. Anthony. Now they don't want to change the size because some vending machines are already set up to accept the "Carter Quarter."
KS (anonymous) says…
If it ain't broke, don't fix it. Just what is wrong with the greenback?
Slav (anonymous) says…
The dollar's quickly going the way of the quarter, but not yet. People still carry too many singles around to accept coin for paper. Wait ten more years when we're using our fives like we use our ones today, then spring a presidential dollar coin on us.
Agnostick (anonymous) says…
Since you didn't hear it the first 10 times, KS...
A paper $1 note actually costs a bit more than that to manufacture, and "on a good day," it'll last @ 22 months. Most wear out sooner than that.
The lifespan of a coin, any coin, is much longer than that. Don't believe me? Would you believe your own wallet? Pull out your paper currency and the change you carry in your pocket, or hsve stashed in a jar someplace, and look at the dates.
How many coins do you have from the 1990s, 1980s, or older?
How about those "greenbacks?"
Sad truth of the matter is that we had a good chance of elimminating the $1 bill when the Sacajawea dollar was released in 1999 or 2000. But there was a lot of whining to legislators on the corporate take, and the Treasury was required to keep the $1 greenback in production.
mike_blur is right: It's going to take a Congress that will shut their ears to the protests of businesses. In the end, converting the $1 denomination over to coinage will save us a bundle... more money for bombs in Iraq, if you need that kind of motivation.
Agnostick
agnostick@excite.com
drake (anonymous) says…
The real reason they are introducing new coins is because they know everyone will "collect" them thus removing them from circulation. Any time money is printed and then removed from circulation the value of the remaining dollars are increased. The state quarter program is an excellent example of this. Hundreds of millions of dollars worth of these quarters are sitting in safe deposit boxes and on top of dressers. Do you ever wonder why you hardley ever see the gold dollars? It is not because everyone hates them. It is mainly due to the fact that the circulation is manipulated so that it is a rare occasion to recieve a gold dollar as change, thus giving the perception of rarity and the feeling that you should collect it. This new dollar with constantly changing presidents on them will only add to the collectabiliy of them. If they were serious about wanting us to switch to using dollar coins they would flood the market with them to the point that we no longer feel the need to hoard them.
blessed3x (anonymous) says…
Why replace the current "gold dollar"? I really like this coin. It's easy to distinguish between the gold dollar and all the other coins, unlike the Susan B. Anthony dollar. The best part is that, if you can find a vending machine that takes them, you don't have to try to flatten out your miserable, limp dollar bill on the side of the machine so you can successfully feed it through the bill acceptor!
Jamesaust (anonymous) says…
"Just what is wrong with the greenback?"
The blind can't use them.
Out of 180 countries that issue currency in the world, the U.S. is the SOLE issuer that refuses to accomodate the blind, in violation of U.S. law. (Yes, the U.S. has been sued and has lost in court but so far ... nothing.)
prioress (anonymous) says…
Dambudzo: Buy a belt.
dorothyhr (Dorothy Hoyt-Reed) says…
Everyone wants fewer taxes, and our taxes pay to have the money printed. If we go to dollar coins and get rid of the paper, it will save millions of dollars. Coins aren't that much of an inconvience. We're going to have to do something to pay for this stupid war. I have grandchildren who don't deserve this stupid debt.
crazyks (anonymous) says…
Coins aren't that much of an inconvenience?
Ever try paying a bill with coins?
redneckwoman (anonymous) says…
If it's cheeper to make the coin then do it. I'll deal with it just fine. I only use cash for playing pool and the car wash anyway and that's quarter's out of the coin jar.
oldvet (anonymous) says…
Having travelled in several countries where there are no 1-denomination bills (Euros, pounds or Can$) the one thing they all have in common is a 2-denomination coin as well. By doing that, you never have to get more than 2 larger coins as change for any purchase. And while I always wound up carrying more than 2 at any time, it was also easy to pay for purchases with them, especially smaller, quick purchases or a breakfast or lunch on the go. So quit printing $1 notes and start producing $1 and $2 coins and in a few years it will be second nature and no one will be worrying about it any more.
fletch (anonymous) says…
I just use a debit card. the only time I ever carry cash is when I go to the bars.
budwhysir (anonymous) says…
Paper or plastic, paper or metal, please sign on the solid line. A debit card is improperly names as it is not realy a card used to buy on debit but it is bought on credit untill ran thru and then it is a debit to your account.