I have been very intrigued about us in the U.S. getting a dollar coin ever since they introduced the Sakagaweea ones. I don't get what the big deal is with us not wanting them. They are easier to handle, last longer, and go in coke machines better. I have travelled to many countries and each just about has the equivalent of a dollar coin I saw no disadvantages to using it. So why can't we use one and drop our dumb paper bills?
2007-03-20 09:31:49 · 8 answers · asked by shermanaki 2 in Business & Finance ➔ Other - Business & Finance
I agree with you about the convenience of larger-denomination coins. I regularly spend time in Canada and really like their one and two dollar coins. I think it's much easier to reach in your pocket and pull out a coin or two than to fish through your billfold to pay for a cup of coffee.
Printing and replacing paper currency is expensive; coins are easier to sort, last a lot longer, and will save money. We just need to find the political will to drop the one-dollar bill. Sure, some people will squawk, but they'll get over it.
2007-03-20 09:53:23 · answer #1 · answered by injanier 7 · 1⤊ 0⤋
no longer fairly. The trillion greenback coin is truthfully purely exploiting a criminal loophole to circumvent the debt ceiling and not the rest. In that experience, it is not any longer any distinctive from open industry operations of the Fed, wherein the Fed buys bonds issued by using the Treasury. The trillion $ coin would be offered from the Treasury to the Federal Reserve for 1000 billion $. The Federal Reserve would in turn purely sell part of its Treasury Bond holdings into the industry to advance the money to grant to the Treasury. it is in actuality a transaction from the left hand to the splendid hand. it would not have any impact on the financial base. whether the Fed would verify to no longer sell Treasury Bonds into the industry, yet rather credit banks with further reserves that they are in a position to transform into paper money in the event that they %, has precisely the comparable result, so as that even extensive will boost in the financial base (reserves plus money) do no longer create inflation in any respect. after all, increasing the financial base in an ecosystem the place short while era expenses of interest are close to to 0 has no impact on inflation by way of fact the transmission mechanism of the financial coverage is interrupted. as a result, the coverage strategies of the Fed are at the instant very constrained under any situations.
2016-12-15 04:45:06 · answer #2 · answered by killeen 4 · 0⤊ 0⤋
Here in Australia we have both $1 and $2 coins. Works well for us...but it can be a little depressing sometimes to open your wallet and have no notes in there...lol....cos their all in the coin section. Maybe its cheaper to produce notes rather than coins? But they are an easier form of currency for the reasons u stated esp when u consider that notes can get very crumpled if u just put them in your pocket making it impossible to straighten them out.
2007-03-20 09:41:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i dont know anyone who enjoys carrying change around in their pockets. the dollar coin will just add more weight. in fact most people dont even like carrying the paper dollar bill.
2007-03-20 09:38:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If I am carrying 20 one dollar bills, it is still very light, no problem. Where and how would you carry 20 one dollar coins?
2007-03-20 09:36:59 · answer #5 · answered by Piggiepants 7 · 0⤊ 1⤋
Youll be cursing on the day that you go into the store and purchase something for $1.59 to be told by the clerk, Im out of fives, will be ones be ok?
2007-03-20 09:37:02 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It's a big pain in the rear to go through the metal detector at airports with change in your pocket.
2007-03-20 16:26:27 · answer #7 · answered by jdkilp 7 · 0⤊ 2⤋
Yeah I have that 500 bucks I owe you. The truck is out back.
2007-03-20 17:12:39 · answer #8 · answered by Anonymous · 1⤊ 1⤋