The US government is minting dollar coins again, and using them will save hundreds of millions in printing costs each year. Given that our government is severely in debt and needs to do everything it can to stop spending so much, will you do your part and use the dollar coin? Will you ask for change in dollar coins rather than bills?
2007-02-11 14:43:53 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Sheesh people, it's no wonder our country is massively in debt. Nobody wants to take any initiative to do anything about it, not even the common folks.
Oooh, you'd have to carry a few extra coins in your pocket or worry about getting them mixed up. Boy you folks got it rough, I feel for ya...lol.
Ferchrissake, grow a sack and pitch in!
2007-02-11 15:02:38 · update #1
I WOULD in a heart beat , not only cutting cost of printing ,but the paper money released to the govt is loaned from the reserve and has a high interest on it , verses the coin which is distributed from the mint ,and the coin will hold it's own value due to its re use abilities, there for has no interest....it would save millions ,and balance the budget without school or social security cuts ....It is very good business ,and we would benefit greatly if all money was converted to coins (besides most people have ,and use plastic so how many would really be effected)
2007-02-11 15:57:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You're absolutely right--I've spent quite a bit of time in the UK and Canada, and seen exactly how well the coins work. There's another thing to consider when it comes to cost savings as well. Before the recession, the Bureau of Engraving and Printing plants in Washington, DC, and Ft.Worth, TX were running at pretty close to capacity. While there are some things they can do to expand capacity in the existing plants, it won't be that many years after the economy recovers that, if we keep printing dollar bills, we'll need to build a third multi-billion facility to keep up with demand. Drop the dollar bill and switch to a dollar coin, and the existing plants have enough capacity for the foreseeable future. As far as the "stripper" argument goes, beyond the obvious thing that someone always thinks they're being clever by bringing up stripper's tips, there's this: If you're tipping with ones, you're either in the wrong place, or an incredible tightwad. Stick a crowbar in the wallet, tip with fives, and you get much better service. The dollar buys what a quarter would in about 1970, and _nobody_ back then was saying how much more convenient it would be if we at a $.25 bill. Nobody would have said "Well, what if I've got to carry $50? Having to use quarters will be too heavy!" Because that's what fives, tens, twenties, fifties and hundreds are for--so you don't have to carry around 200 of anything.
2016-05-23 23:31:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
That won't stop all the spending. Every year the government spends more money than the year before.
Our national debt has actually gone down 58% in the last 3 years, but I see no reductions in spending. I know the tax breaks helped the economy, but what do we have to do to get congress to stop all the spending??
To tell the truth, I just don't think changing to coin dollars will do much to save money. Every time it's tried people hate them. There was the Susan B. Anthony dollar coin, and years later the gold plated one with an Indian on it. No one likes them, and I'm in agreement. I prefer paper.
Besides, don't coins get replaced all the time too? Seems like they would cost more to replace than paper, but I don't know for sure.
2007-02-11 14:58:15 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
Heck yes did you know the average $1 bill lasts aproximatly ...
THE LIFESPAN OF MONEY
The average life of a dollar bill is eighteen months. Five dollar bills last about fifteen months, with twenties remaining in circulation for two years. Ten dollar bills have about the same lifespan as singles do, and the larger denomination bills can last up to eight years.
2007-02-11 14:55:08 · answer #4 · answered by renzbenton 3 · 1⤊ 0⤋
the reason why ppl dont use them now is the weight if you have 20 dollars in coins witch are quite heavy compared to 20 1$ bills or 1 20$ bill
2007-02-11 14:50:27 · answer #5 · answered by sims 2 · 1⤊ 1⤋
Oh, heck no, the last time we had the $coin, I kept getting it mixed up with the quarter. So, again, no, I'm not smart enough to use the $coin unless the $bill is abolished.
2007-02-11 14:50:10 · answer #6 · answered by Anonymous · 2⤊ 1⤋
nope, i'll keep on using bills (which, i thought, were cheaper than minting metal coins anyways, although i suppose the coins have a longer lifespan) if we abolish anything, it should be the penny. i havn't used a penny on purpose in years
2007-02-11 14:52:25 · answer #7 · answered by f0876and1_2 5 · 2⤊ 2⤋
I'll do my part by continuing to use my plastic when I can.
What do you expect me to do slip a coin under the strippers thong?
2007-02-11 14:54:11 · answer #8 · answered by Anonymous · 3⤊ 1⤋
no way lol the bills make u feel richer :D
2007-02-11 14:53:04 · answer #9 · answered by guitarguy90 3 · 1⤊ 0⤋
dump the dirty dollars..wore out in in couple months..
dump penny also..
2007-02-11 16:00:39 · answer #10 · answered by cork 7 · 0⤊ 0⤋