rally

Just to add, $1-$2-$5 coins will work if they do not get confused with quarters !

They need to be Bi-Metal like in Europe , maybe even not round like a 50P UK coin , and a good size ........inAnd leaving a bag of money on my front porch does not seem like a good idea !

Rally

scubadiver

On the anti-coin side, you can't spend US coins overseas. They want greenbacks. In some places, Egypt in my recent experience, you can't even exchange dollar coins in banks.

New vending machines and toll boths take dollar coins, but I use EzPass and seldom get anything from a vending machine. Any significant purchase goes on the rewards cards.

I use coins at the farmers market, flea markets and other cash only sites. But they do not move large volumes.

And where is the dollar slot in the change drawer of cash registers?

AlohaDaveKennedy

OK, diver guy - what would Mel Fisher have found if Spanish galleons had hauled paper? For every Egypt, there is an Ecuador which loves our coins. Think of the jobs to be created refitting American cash drawers to handle those $1 and $2 coins. Think of the reduction of the national debt and the improvement in the balance of trade position with China when we overnight declare paper dollars obsolete and no longer legal tender. Oops, let the president's plan out of the bag.

psyflyer

There is a good reason why the $1 bill has not been phased out. And that is the US economy. US dollars are unique in that a vast majority of M1 (dollars in circulation) supply resides outside the states. No other country shares this with the US making the US dollar defacto reserve currency. Therefore even though $1 in the states amounts to nothing, in most undeveloped countries its worth, from a purchasing power standpoint is significantly more. Although this will not be a reason to never pahse out the dollar bill, the good folks at the private bank called the Federal Reserve will ensure that via quantitiave easing they shall destroy what's left of the purchasing power of the most circulated paper note in history. Ironically, some say (and I agree), the M1 component within the fiat paper structure of the US economy is what will destroy the US dollar via hyperinflation.

rrgg

Off-topic: I hate getting stuck with a pocket full of coins in Europe and Canada. It's not uncommon that people don't give you the smallest number of coins possible. If you need around 8 in change, you can end up with sometimes get 7 ones, and (the equivalent) of 3 quarters 2 dimes and a nickel! On the opposite end, in Buenos Aires no one seems to have coins, so you get people complaining when you have a bill to break!

dayone

Or it could just be the citizens' preference for the status quo, the politicians' reticence to rock the boat and the sizable lobbying influence of Crain & Co.

PIONEER

Well you're correct that substantial US currency (out of close to one trillion dollars) is held overseas for the reasons you state, but my understanding is that the vast majority of it is in the big bills, specifically $100. I do also agree that there are still a couple of countries (e.g. Liberia and Panama?) that primarily use US currency, so they might want the singles, but I don't know why they couldn't migrate to coins if the BEP stopped printing the singles, and in any event the dollar bills would still be vaild and would not have to be recalled. After all, both Canada and the Euro Zone have done away with one dollar or one euro bills.

chimmy826

I got a shipment notice from the Mint on 9/20 at 9 PM. Normally, this shipment would arrive at my house the morning of the 21st. It did not.

I have had experiences where sometimes you get the shipment notice, but they're not actually in UPS hands, since on UPS' site it just lists the status as "Billing Information Received".

So, I expected the shipment to come this morning (9/22). It did not. This has never happened to me before.

Has anyone ever had a shipment notification and still not received them two mornings later and UPS' site still shows "Billing Information Received".

werdna

I have same issue.

Two packages arrived. The third just has billing information received.

Call the Mint.

ejs621

Ditto, here for me! Exact same dates and situation.


Cheers!

ejs621

Just called the Mint about the delayed delivery and they do not have an answer. They see the problem and are researching it. I was told to call back tomorrow.

Cheers!

psyflyer

Over 70% of M1 money supply is overseas (unbelievable). Europe, Canada and UK have only a few percentage of their domestic currency used overseas, maybe up to 2% if I were to guess. There are plenty of foreign economies relying on the US dollar, both officially and unofficially. Not all are third world countries, for example in many caribbean nations dollars are widely accepted and become defacto currency. I think the problem is one of logistics coupled with one of creature comfort from domestic spenders. Either way they will do away with it, sooner rather than later. And those 70% of foreign holders are designed to be left holding the bag once they do away with the dollar as a currency completely.

psyflyer

Here is my part in circulating the $ coin so far this year:

$XX,XXX Property taxes with one super pissed off Treasurer. It was hilarious.
$X,XXX Wife's grad school Fall Semester tuition.
$X,XXX Various monthly condo fees.
$28 Ferry To Plattsburgh from Burlington.
$65 Local Masseuse who does not take credit card.
$345 Organic Chickens and Ducks from local CSA, farmer is a friend.
$1 Various Tolls and parking where credit card not accepted.

rhwbullhead

I'm glad someone here did this. That's a great way for property owners to get rid of the coins and I'm surprised more people here haven't done that.

Edit: I was wondering if he immediately, although reluctantly, accepted them knowing that he has to, or did the try to argue with you until you quoted the relevant part of the Coinage Act of 1965?

As someone else pointed out, I really don't see how people can mistake them for quarters anymore. The only reason is that people aren't familiar with them. These are a high step up from the Susan B Anthony dollar coins that were the same color as quarters.

BTW, The reason they can't design them to be a different size is that they need them to work in all the vending machines that already take them.

benmaller

I love the idea o paying property taxes in coins to make a point, but does anyone actually think these end up anywhere besides the bank?