Subject:
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Re: New Web Page
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Mon, 24 May 1999 23:09:02 GMT
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Viewed:
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903 times
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Terry K wrote:
> On Sun, 23 May 1999 10:30:05 GMT, Mr L F Braun <braunli1@pilot.msu.edu> wrote:
> > I'm looking forward to the Sacajawea dollar. At least it doesn't look
> > like a quarter. It's gold, like a Pound!
>
> It might be pretty to look at, but I think it is a waste. Sure, the coins will
> "last longer, thus reducing printing costs associated with bills". But who
> really wants to carry around big, heavy dollar coins? And it will probably be
> big - size was supposedly one of the failings of the Susan B. dollar. Too much
> like a quarter.
The big failing was the thickness. Had it been twice as thick, there probably
wouldn't have been such a lousy response to it. It really was way too quarterlike
(the infamous "Carter Quarter," which you can still get in large numbers from
subway stations in NYC). A new coin won't be a revamped Ike, but a much smaller
and thicker item that feels weighty without being ungainly.
The pound coin had a similar "pshaw" response to it at inception--if I'm not
mistaken it was part of broader monetary reform that got rid of the shillings and
all of that. If you look at the coin, it's gold, significantly thicker than any of
the other coinage, and *smaller* than the 50p or even the 10p piece in diameter.
People carry tens of them in their pockets all of the time; it's a lot more
convenient than all of the time spent unfolding and facing pound notes. They mass
about as much as a Kennedy half dollar (which, incidentally, are still minted).
The upshot is that Britons accepted their pound coins, and now they're the
standard of exchange. I don't know where you live, Terry, but I can't tell you how
many times I've nearly missed a train into Manhattan because some yutz in front of
me was unfolding and facing dollar bills to buy a ticket from the machine--or that
someone didn't have proper change and the machine didn't have enough quarters to
tender $9 in change from $20. Automation will be more effective with a coin. No
more unacceptable bills...!
> So they will mint a gazillion of these things, nobody will want to use them,
> and they will be put into storage. Just like the Susan B.'s were.
> The idea of dollar coins was rejected once, why try it again?
Polls show that 70% of people in the US prefer paper dollars. However, a
similar number preferred the old English monetary system and the English paper
pound notes (and English measures!). I don't mind bills, but I'd rather have a
coin. The Susan B.s are being taken out of circulation, but they did all *enter*
circulation at some point, something that's important to note. What happened is
similar to what went on with the $2 bill (and continues to happen!)--people assume
they're rare, so they hoard them or put them away for safe keeping, thus making
them appear rare. Lather, rinse, repeat.
ObNumismatics: There are half a billion series 1995 $2 bills sitting at the
Treasury. They'll apparently be revamping the $2 when they revamp the $1, and
reissuing it.
> What an incredible waste of taxpayers money.
Not if the Treasury actually makes a decision and ceases production of $1
bills. The reason for failure before was that both remained in production--when in
doubt, people go with the familiar. Folks are *still* complaining about the new
$20 bill. Eventually there will be savings, unless the ball gets bobbled and the
coins are allowed to die at the hands of turtle-shell conservatism, sort of like
the metric system in the US.
Just my four-haypth. (How's that for obscure?)
LFB.
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Message has 3 Replies:
 | | Re: New Web Page
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| (...) Am I the only one who likes the SueB? I never got them confused with quarters (but I was in the third grade) and still feel nostalgic when I get them in change at the post office vending machines. (...) And $2s rock too. They must have at (...) (25 years ago, 25-May-99, to lugnet.off-topic.debate)
| | | Re: New Web Page
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| (...) At certain caving events I go to, the organizers, and most of the vendors stock up on $2 bills. The idea is that when you go out to a restaurant for dinner, or otherwise spend money in town, the townies see all these $2 bills and realize how (...) (25 years ago, 25-May-99, to lugnet.off-topic.debate)
| | | Re: New Web Page
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| On Mon, 24 May 1999 23:09:02 GMT, Mr L F Braun uttered the following profundities... Snipped for brevity...... Pound coins do make life easier! Except for posting money, one couldn't send off a pound note to a charity, one only had a fiver! They (...) (25 years ago, 31-May-99, to lugnet.off-topic.debate)
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Message is in Reply To:
| | Re: New Web Page
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| (...) It might be pretty to look at, but I think it is a waste. Sure, the coins will "last longer, thus reducing printing costs associated with bills". But who really wants to carry around big, heavy dollar coins? And it will probably be big - size (...) (25 years ago, 24-May-99, to lugnet.off-topic.debate)
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