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Why do you think people resist the use of dollar coins?

Asked at Massachusetts Street on February 12, 2007

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Photo of Ricky Lockner

“No one likes change. They don’t like the weight in their pocket or their change getting in the way of everything else they’re carrying.”

Photo of Anna Davies

“Change is more annoying than bills are, and it’s easier to tell how much money is in your wallet with bills.”

Photo of Bob German

“I think that people don’t like to deal with currency or coins in general. Everyone seems to prefer the electronic transfer of money.”

Photo of Amanda Haas

“I think it’s a hassle to carry them around if you get them as change. They’re bulky and don’t fit in your wallet easily. I think they’re just impractical for everyday use.”

Comments

lilchick 7 years, 2 months ago

You can still get $2 bills....just go to the bank! When getting your cash supply, ask for 20 bucks in $2 bills. My hubby's bank...well, mine too now, has gotten used to our oddity, and are actually waiting with it when we get up to the counter.
I work retail and enjoy getting $2 bills and dollar coins, although I'm known to buy out wheat pennies, silver certificates and other neato money that people don't realize it's worth. One time we got a free ice cream at Hardee's b/c the checkout chick argued with us that our bill was fake, manager came over apologized and offered us free stuff. Very nice.

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innocuous_posts 7 years, 2 months ago

Ambrose Bierce said: "DRAGOON, n. A soldier who combines dash and steadiness in so equal measure that he makes his advances on foot and his retreats on horseback."

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cool 7 years, 2 months ago

COINS are great.... more work for TSA airport security !

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Linda Endicott 7 years, 2 months ago

If you're not picky about what pocket you put it in, budwhysir, then please put it in my pocket...:)

Lilchick, I like your idea of fun...next time I see a $2 bill, I'm going to try it at Wal-Mart...unfortunately, they aren't floating around as frequently as they used to be...

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budwhysir 7 years, 2 months ago

If its money in my pocket, Im not picky what pocket I put it in. However, it probably doesnt cost as much to make a coin. And its probably alot easier to protect against fake coins than bills.

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sunflower_sue 7 years, 2 months ago

das, no, I meant dragoon. I have some gold mounted cavalry units. They are too big to carry around so if it's a good time to be rid of them, I'm gonna hop all over that! :) Nice catch!

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ms_canada 7 years, 2 months ago

As some or all of you may know, we Canadians have had Loonies and Toonies for several years now. Hard to remember dollar and two dollar bills anymore and there were some squawks at first but............ Once, while in England and discussing money with some Brits, they asked "how do your blind people tell the difference in the bills?" Ours being all the same size and their bills all different plus having pound coins. Smart idea behind the different size bills, eh? Anyway, we canucks are quite used to our loonies, so called because of the loon pictured on them and our toonies because they are Two-nies. Five is our lowest denomination bill now. I wonder when fivies will come in

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bevy 7 years, 2 months ago

I love the dollar coins for use in the vending machines at work, since they so often refuse to take paper dollars if there is the teeniest wrinkle/fold in them.

Plus, my nephews and nieces and daughters think they are SUPER COOL when given as gifts.

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average 7 years, 2 months ago

Topside...

That's exactly what you should do. Logically, where do twospots go? On top of the ones. Three times out of four, you need more than one single, so give the two to the next customer. Why's everything gotta be difficult?

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Das_Ubermime 7 years, 2 months ago

Uh, do you mean doubloon sue? As in the gold coin? Cuz I think that a dragoon is a mounted cavalry unit.

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Gootsie 7 years, 2 months ago

Use them in car washes. Or maybe have them filled with chocolate!!

SeaFox, good one! And good time to stop too! ;)

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bunnyhawk 7 years, 2 months ago

the dollar coins are too close in size to quarters. They need to feel a lot different for people to embrace them.

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Topside 7 years, 2 months ago

Because I get an eveil glare everytime I hand a store clerk one. Its the same look I used to give when I worked retail. There is not spot in the register drawer for them (or $2 bills) so you have to shove them in somewhere. Then when you count down your drawer at shifts end they are a hassle. My solution... I would just give them back to customers as change as soon as I received them. Then customers would give me weird looks for getting them as change.

Dollar coins just become the "hot potato" of currency.

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SeaFox 7 years, 2 months ago

@ Blue73Harley: "The coins don't work well at strip clubs."

[insert "slot" joke here]

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sunflower_sue 7 years, 2 months ago

What is the current price of gold? Is it time for me to sell those dragoons and pull most of my teeth?

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cool 7 years, 2 months ago

no one has logged in with an OLD TESTAMENT reference about what JESUS would say ?

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innocuous_posts 7 years, 2 months ago

Good one, R_I. I think a coin containing a dollar's worth of gold would be too small to see without a magnifying glass.

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Ceallach 7 years, 2 months ago

judge, congrats to you! congrats! congrats!!!

Been there, drank that, ugh. Hers was scanning for iodine bound radioactive isotopes that attach to migrating thyroid cells (from what she said that also tastes bad).

Now see, if we had a US equivalent of the "toonie" two dollar coin in CA you could probably get a sip or two for that, even at LMH.

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jimincountry 7 years, 2 months ago

Coins would be popular if made of gold!

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dajudge 7 years, 2 months ago

Great news, Ceal. I know because I'm going into my 6th year of surviving. Those scans are no fun but they have improved the flavor of the barium drink. Sometimes I drop by LMH South and see if I can buy some with my dollar coin. Not much you can buy with a dollar anymore.

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The_Original_Bob 7 years, 2 months ago

Gootsie - I'm thinking we've found the root of your problem.

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RETICENT_IRREVERENT 7 years, 2 months ago

i_p, Speaking of presidential canidates...

Are you sporting an "I ¥ Huckabee" pin?

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Gootsie 7 years, 2 months ago

Yep. Not mine! ;) Some surprises are truly that - surprises!

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sunflower_sue 7 years, 2 months ago

:o) :o) :o) :o) for you, Ceal!

I resist dollar coins because I'm worried they would fall out of my pockets when riding roller coasters. The bills, however, never slip.

Gootsie, you mean...in his size?

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Gootsie 7 years, 2 months ago

People. People. It was 12:56 pm before anyone used the word "whiner." We HAVE to do better!!!

Went to Naughty but Nice. Saw my old boyfriend in there buying women's underwear. Some things never change.

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Ceallach 7 years, 2 months ago

Thanks to all of you . . . I'm so thrilled I can't get fussy about anything today. Not even the fact that we now have a self-equating Abraham Lincolnish candidate for president.

No promises for tomorrow though :):)

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conceptual_continuity 7 years, 2 months ago

http://media.lawrence.com/img/photos/2000/08/24/phoneymoney.jpg

it looks like boog is trying to hide the joint.

i still have a Williams S. Burroughs "Queer as a three dollar bill" bill

i just got a dollar coin in change from the post office last week. it took me a moment to register what it was. i thought that failed experiment ended years ago.

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George_Braziller 7 years, 2 months ago

Sourpuss you hit the issue dead on:

"Also, the US has been notoriously bad about designing $1 coins that are indistinguishable from other denominations. This is NOT the fault of the $1, but the people designing it. No where else in the world has this poor design been a problem... they are quite distinctive, often a different color."

They keep designing them like inflated quarters. Make them thicker, or larger, or octagonal or some how unique from common pocket change. British pound coins are a perfect example. If they had more of a presence of worth they would be better accepted by the general public (except for those who never like anything different than what they are used to.)

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Dorothy Hoyt-Reed 7 years, 2 months ago

I think they should just start making coins and forget the 1dollar bill. If it's going to save taxpayer dollars, then the whiners can just get used to carrying change around with them. We're talking about being able to use the millions saved on other things, like paying off Bush's debt.

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Ceallach 7 years, 2 months ago

andi, notice how well he blends into that group . . fake money, Dada days, guess that's just in case anyone thinks he takes his commissionership too seriously.

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Ceallach 7 years, 2 months ago

no need, I always assume you are just happy to see me . . .

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Andini 7 years, 2 months ago

TOB,

I also like the picture of Boog lurking (trying to hide) in the background.

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RETICENT_IRREVERENT 7 years, 2 months ago

"In fact, they are less bulky than a wad of $1.00 bills, and certainly provide a slimmer profile than the cell phones so many people carry in their pockets." -Ceal

So are you going to change your line to... "Is that a roll of dollar coins in your pocket, or are you just happy to see me"

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The_Original_Bob 7 years, 2 months ago

Andini - Wow. Thanks for a trip in the wayback machine. I forgot about the good 'ol freewheeling just print your own money days.

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sourpuss 7 years, 2 months ago

After experiencing Canada for some time, I vastly prefer coins. Canada starts their bills at $5, and they have $1 and $2 coins (the fabled Loonie and Toonie). I like them because at a vanding machine, you don't have to worry about finding a crisp dollar. I like them because when you have paper money, you can actually buy something. I like them because you don't have all of these fussy, identical bills clogging up your wallet and the coins don't tend to build up in your pocket because they are worth something and you tend to reach for them. And BEST of all, when you toss your change in a box at the end of the day, when you count it up later, you have over $100 and can treat yourself to something. Also, coins cost less for the government to upkeep (bills have to be continually produced as they wear out) and so that means less tax money being wasted to keep the paper money circulating. If all anyone can complain about with coins is that they fill up your pocket, well, I know lots of people panhandling downtown would love a $1 coin in their hat.

Also, the US has been notoriously bad about designing $1 coins that are indistinguishable from other denominations. This is NOT the fault of the $1, but the people designing it. No where else in the world has this poor design been a problem... they are quite distinctive, often a different color.

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couranna1 7 years, 2 months ago

they are too much like quarters I hate all that change in my pocket

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Andini 7 years, 2 months ago

Maybe they should start making coins instead of these.

This REAL money has gone over so well.

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The_Original_Bob 7 years, 2 months ago

Perhaps a trip to Naughty & Nice?

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Gootsie 7 years, 2 months ago

WOO HOO Ceal! That is GREAT news!

TOB, Thanks for the link. I'm still confused though. Any other suggestions?

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Ceallach 7 years, 2 months ago

On my trip to Canada to visit our own ms_canada I learned to appreciate the 1 and 2 dollar coins (I particularly like the "Loony" but I guess that is not a surprise to anyone:) They are not that bulky and I found them to be quite handy. In fact, they are less bulky than a wad of $1.00 bills, and certainly provide a slimmer profile than the cell phones so many people carry in their pockets. I also think they survive the washing machine better than bills:)

For your werewolf problems, don't worry about the silver . . just call Dresden.

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from_beautiful_downtown_topeka 7 years, 2 months ago

Well, we're heading towards a cashless society anyways....so the day will come (sooner than you think) that a question such as this one will be moot.

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Ceallach 7 years, 2 months ago

Late Friday afternoon we received the wonderful news from KU Med that my daughter's body scan confirmed that no cancerous cells had migrated beyond the original site. The radiation focused where needed and she is currently cancer free. Regular checks will follow but no more radiation is planned at this time. Thank you all for your kind thoughts and prayers through this very difficult time.

Ceal

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average 7 years, 2 months ago

I have no problem with brass bucks. I get them from the KU parking garage change machines and spend them regularly. I'd say four out of five vending machines take them, no issues. A couple of times I've exchanged them for bills for people with cotton dollars that the machines won't take.

All spends the same to me.

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purplesage 7 years, 2 months ago

It all has to do with not enough spots in the cash drawer which makes coinage the tender of choice in government vending machines ( like the USPS) and the casino. Come to think of it, the chances of getting somehting back out of the machine are kind of similar.

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RonBurgandy 7 years, 2 months ago

Darn werewolves and their amazing ability to play high school basketball...

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blue73harley 7 years, 2 months ago

Another reason NOT to embrace coinage - longer lines at airport check-ins whilst you empty your weighty pockets. I make it a point to carry no change while flying.

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prospector 7 years, 2 months ago

Sarge, as change at the gas pump for a gallon of gas.

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75x55 7 years, 2 months ago

"With real silver dollars, you could melt them down & cast bullets to kill werewolves....."

Doesn't work - those coins are alloys of about 90% silver. Ya gotta have pure silver, which is a bit of a pain to refine.

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feeble 7 years, 2 months ago

Until vending machine industry makes units capable of taking dollar coins the norm, they'll likely not get much usage.

Uh, every vending machine (Coke/Pepsi, Snacks and Treats, stuff maintained by Treat America) that I've seen in the last two years supports the use of the dollar coin. This is in the Lawrence and Greater Kansas City areas.

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sgtwolverine 7 years, 2 months ago

I didn't speak to the worth of the penny, Ron, but it's always nice to have people agree with me anyway, so carry on. (Actually, I'm not sure how I feel about the penny.)

I was in Meijer the other day, and they had a coinstar machine. You know, dump in your coins, get a receipt and take it to a cashier. Anyway, on the front of the machine was a small sign that declared coinstar's counting fee to be 8 9/10 cents per dollar. So I was wondering: has anyone ever seen the 1/10 cent coin?

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cool 7 years, 2 months ago

Get those new parking meters ready !

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cool 7 years, 2 months ago

dollar coins are just fine with me - why not ?

AH HA - as Marion mentioned the powerful vending machine industry - does have some influence.

personally i would like one dollar coins and in part because it would then be very easy to know if you had enough pocket money for a soda.

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prospector 7 years, 2 months ago

Resistance is futile.

We know it is a ploy to get the citizens to collect all the presidents' coins (see state quarters) and take them out of circulation. Dollars that they make that they don't have to make good on is brilliant marketing (see stamp collecting).

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RonBurgandy 7 years, 2 months ago

It is just a pain to carry change. I really just don't like having change in my pocket and I am just not the type to carry around a change purse.

I do agree that the only real way that a dollar coin would work is to discontinue the paper dollar. I don't know why, but I am more likely to scrutinize my spending of a $1 bill than if I just had 4 quarters. Doesn't make much sense, but that's how it is for me.

sgt - I agree that the penny is worthless, at least not worth more than 1/100th of a dollar coin...

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Agnostick 7 years, 2 months ago


Would the use of the Golden Dollar in lieu of the paper dollar save money and if yes why doesn't the United States Mint eliminate the paper dollar?

The use of the Golden Dollar coin in lieu of the paper dollar would ultimately save money. The General Accounting Office's (GAO) stated potential savings of up to $500 million in a report issued September 2002, which was calculated on the premise that the U.S.Government cease production of the paper one-dollar bill. However, the United States Dollar Coin Act of 1997, which authorizes the Golden Dollar, did not call for the elimination of the paper dollar. Consequently, dollar coins and dollar notes co-circulate in the marketplace. The United States Mint does not have the authority to change existing legislation thus, full cost savings cannot be realized.


http://www.usmint.gov/mint_programs/golden_dollar_coin/index.cfm?action=sacFAQ#eliminate

BTW... did you know that there's an even newer dollar coin? One with a rather interesting... "omission?"

Something else interesting...


The following information regarding the average life of a Federal Reserve Note was provided by the Federal Reserve System - please note that the life of a note depends on its denomination:

$ 1 .............. 22 months
$ 5 ................ 24 months
$ 10................ 18 months
$ 20 ............... 25 months
$ 50 ............... 55 months
$100 .............. 60 months

http://www.moneyfactory.gov/document.cfm/18/106


So, a $1 bill only lasts @ 22 months.

Now, pull out a handful of change--how old are some of the coins?

In the long run... which has a longer lifespan? Which would be more cost-efficient for us, the taxpayers?

Agnostick agnostick@excite.com

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sgtwolverine 7 years, 2 months ago

Actually, I think it's because Chuck Norris prefers paper dollars.

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Reality_Check 7 years, 2 months ago

"Why do you think people resist the use of dollar coins?"

Boy, that's such an EASY ONE that I'm amazed none of the posters above mentions it: Because the US Mint continue to print paper dollars! (If there were no paper dollars, then people would be quite happy to use dollar coins._

In other, more logical, countries, when they issue a new coin, they discontinue the corresponding paper currency. And, Voila: Use of the paper currency plummets and use of the coin skyrockets! Works EVERY time!

To that, I will add this famous comment, "Duh!"

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The_Original_Bob 7 years, 2 months ago

Gootsie -

That sounds like a personal issue. Perhaps this lady can help you out... http://en.wikipedia.org/wiki/Dr._Ruth

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Gootsie 7 years, 2 months ago

the size and confusion thing.

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Redzilla 7 years, 2 months ago

At last, a test of my theory that someone at the mint hates women. After two dollar coins featuring women that were designed to fail, let's see if the mint can design a dollar coin with a man on it that won't be mistaken for a quarter.

Oh, and strippers can just use spray on adhesive on their behinds. No more tucking the bill in the g-string, just slap that dollar coin on and stick it.

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Sen_Fudgepack 7 years, 2 months ago

Make it thick like the pound coin... You have to do something to distinguish easily from the other coins... Larger isn't necessarily better...

BTW, when are we going to get rid of the penny?? Talk about worthless...

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innocuous_posts 7 years, 2 months ago

With real silver dollars, you could melt them down & cast bullets to kill werewolves.....

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RETICENT_IRREVERENT 7 years, 2 months ago

This is a bad Idea.

It will put undue inflationary pressures on the economy, and we will be forced to invade Venezuela.

It will drive up workers comp costs at banks and armored transport companies, and will take more fuel to transport the coins. It will force the reinforcemet of pockets, increasing the cost of material and transportation of clothing from third world sweatshops. People will stop carrying smaller coin denominations, and merchants will start raising prices in response to this.

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acg 7 years, 2 months ago

Das that was freakin' great!!!

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paladin 7 years, 2 months ago

Panhandlers will benefit the most. Brother, can you spare a dollar?

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The_Original_Bob 7 years, 2 months ago

Coins don't fit into my wallet.

They are heavy.

They are not as easy to fit inside a stripper's thong.

I didn't know coin vs paper was still an issue. What brings up this question?

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jayhawktownie 7 years, 2 months ago

the only bad thing to me about higher denomination coins is my tendency to spend them frivolously. I am more likely to value and hang on to notes, while I spent 1 and 2 Euro/pound coins like they were nothing.

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sgtwolverine 7 years, 2 months ago

R_I: the weight of the issue depends on the system of measurement!

Also, declared buff: "Nobody uses cash anymore anyway, it's all check cards and debit nowadays."

I must be nobody. For many purchases, I prefer cash. It's far easier for me to moderate my spending when I use cash.

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RETICENT_IRREVERENT 7 years, 2 months ago

sgt, It's not a weighty issue in the UK?

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sunflower_sue 7 years, 2 months ago

I carry around enough baggage.

lilchick, I'd suggest paying them w/ a glass 2 liter pop bottle full of pennies! :)

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Marion Lynn 7 years, 2 months ago

A dollar coin the size of the old Peace, Morgan and Ike dollars would go over well.

The vending machine industry will have to spend a bundle though to make the machines compatible and that may not happen unless the dollar bill is dropped and removed from circulation.

I remember as a child paying for things with REAL silver dollars!

I love the clinking sound!

Thanks.

Marion.

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buffbonzai 7 years, 2 months ago

I thought that 1 Euro and 2 Euro coins were a hassle until I got used to them.

Nobody uses cash anymore anyway, it's all check cards and debit nowadays.

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paladin 7 years, 2 months ago

I think that the People get them cornfused with quarters and end up being short changed. They should be the size of 50 cent pieces, which seem to have disappeared. A more interesting question might be, where did the 50 cents pieces go?

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75x55 7 years, 2 months ago

The same reason the big Eisenhower dollar wasn't used, and the SBA dollar - the big use for any change is vending machines.

Until vending machine industry makes units capable of taking dollar coins the norm, they'll likely not get much usage.

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sgtwolverine 7 years, 2 months ago

I have no idea. I do know, however, that England's paper pound notes start at 5 -- all they have below that is the equivalent of our dollar coin. And somehow, society seemed to survive.

Also, the pound coins are really cool.

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Leandra 7 years, 2 months ago

especially if you chill them first.

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blue73harley 7 years, 2 months ago

The coins don't work well at strip clubs.

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RETICENT_IRREVERENT 7 years, 2 months ago

because it is difficult to find those coin purses..

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lilchick 7 years, 2 months ago

Wow, guess my hubby and I are just plain weird. We both enjoy getting dollar coins and two dollar bills to pay for stuff.
Okay a big part of the $2 bill is to confuse the young pups who argue with us that the bill is fake, or who call their manager to ask which slot the bill goes in! Its also funny to tip a waitress with dollar coins and watch her get all pissy about being 'shorted' with quarters to then watch her happy face when she realizes she got several dollars! Yes, I am aware of our dorkiness....

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