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Old Jun 13, 2008, 9:16 am
  #41  
ANDREWCX
 
Join Date: Aug 2000
Location: AUS - Formerly MSP, IAD/DCA, SYD, CBR, BNE, JNB
Programs: QF & NW Clubs. Will never buy another ticket on UA or US.
Posts: 1,100
Originally Posted by hfly
Andrew, these are your theories, right? Because they seem to have little relationship to reality or history. Neither Carter nor Clinton phased out or were about phase out the $1 bill, it should also be noted that previous to the Susan B coin there was the IKE coin.
I was almost certain that the dollar bill had been phased out in the past but now I look for it, I find that although that was part of the various (pre-presidential) $1 Coin congressional bills - it may never have happened. I know it was congresses intent at the time.

I do remember Bush campaigning to defend/restore the $1 Bill though so at least the politicians made it appear that the $1 Bill was or was soon to be history.

Originally Posted by hfly
They cost to much to produce is a relative term/idea. They cost next to nothing to produce, but their life is short. A coin effectively lasts forever,costs more to produce, but "saves" money over time (at least that is the idea).
According to http://www.cbo.gov/doc.cfm?index=5499&type=0 the cost to produce a $1 note is 3.8cents while a coin costs 8cents. If you take the average lifespan into account. It costs 2.5 cents per year for a $1 Bill but only 0.27 cents for a coin.

Originally Posted by hfly
Regarding your ideas about the paper. This was maybe a valid concern 10-15 YEARS ago, however since that time all sorts of measures have been taken and bits added to different denominations to make such a thing impossible.
I know that is why the new 'colored' notes were introduced however, until the old notes are invalidated, this is still an issue. Obviously, very close inspection will reveal these counterfeits buy casual use won't as they 'feel' right.

Of course the US could keep bills but solve the other problems by switching to Polymer notes like many other countries (inc. Australia and some Mexican notes) - they last for ages, are very damage resistant, can't be counterfeited, and of course, are still notes so don't freak people out about tipping etc.
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