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Thread: House GOP wants to cash out dollar bill

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by pbrauer View Post
    LOL Here is the Tea Party at work, wanting to abolish paper dollars and replace them with coins. Good or bad idea? I don't think coins would work well in my wallet.



    House GOP wants to cash out dollar bill - The Hill's Floor Action
    Metal coins last longer than bank notes.Although I think it would be a hassle to carry a couple hundred dollars in coins and it might be a hassle for companies to retrofit machines to accept higher currency coins. Some countries are experimenting with polymer banknote. I do not know if they are having success with the bank notes or the lifespan of the notes warrant the costs. Stamping out coins is probably cheaper than making those notes.
    Last edited by jamesrage; 09-28-11 at 04:11 PM.
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    Re: House GOP wants to cash out dollar bill

    Honestly I'm all for this mixed with removing the penny from circulation. We either need to do away with making $1 coins all together OR go away from making $1 bills all together.

    Yes, on a personal level, I'd rather a bill over a coin. However, I can understand how from a national level there's more fiscal benefit from going with a coin. If I had a choice between Bill and Coin personally I'd take Bill. If I had the choice between Coin or just refusing $1 pieces, well, I'd take the coin.

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by Jetboogieman View Post
    [...] Cheap Strippers will be very hurt by this.
    Cheap patrons, you mean

    Enough change already accumulates in my pockets; and now we have quarters that change appearance with the seasons, it seems. And funny nickels as well. I vote no, and I also vote to leave the damn money alone (which would probably save as much money as getting rid of the dollar bill).

    And yes, get rid of that damn useless penny

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by StillBallin75 View Post
    This isn't really the same thing. The example you gave of the Susan B Anthony coins would be more comparable to the Presidential 1 Dollar Coin Program, the result of which has been that billions of $1 Dollar coins are currently sitting useless in Fed vaults. (And also, until recently, people were buying batches of 1 dollar coins online with their credit cards to essentially get free frequent flyer miles.)

    This proposal doesn't aim to mint so many 1 dollar coins so that they will suddenly become popular and supplant the dollar bill - the aim is actually to do away with the paper dollar altogether so that people have no choice but to use dollar coins, and the goal is essentially cost savings.
    That was the same plan with the susan b anthony dollar still to eventually replace the paper dollar...and the Susan b was put in circulation actually all the 1.00 slots in Resorts International Casino when it opened in Atlantic City took Susan Bs.....Of course it is 30 yrs later and it could very well work today

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    Re: House GOP wants to cash out dollar bill

    i wonder what strippers think of this..
    plus = gettin fivers instead of singles..
    minus = getting pelted with a freshly minted susan B for your troubles..

    seriously though, they could switch to a dollar coin and drop the penny, ergo no more gas prices ending in tenths of a dollar.(for some unknown reason, it just somehow bothers me..)

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by WhyteRash View Post
    i wonder what strippers think of this..
    plus = gettin fivers instead of singles..
    minus = getting pelted with a freshly minted susan B for your troubles..

    seriously though, they could switch to a dollar coin and drop the penny, ergo no more gas prices ending in tenths of a dollar.(for some unknown reason, it just somehow bothers me..)
    heh...waaaaay back when i was in grammar school they told us the 99. 1.99....etc....was to psychologically make you think it was cheaper than it was....now that 50 yrs ago thinking
    Last edited by lpast; 09-28-11 at 07:37 PM.

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    Conservatives, liberals, and all stripes seem to agree: get rid of the penny! And look out nickel, we're coming for you next.
    "A witty saying proves nothing." Voltaire

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by nijato View Post
    Conservatives, liberals, and all stripes seem to agree: get rid of the penny! And look out nickel, we're coming for you next.
    I don't think we should get rid of pennies. My only real beef with pennies is that vending machines don't take them

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by pbrauer View Post
    LOL Here is the Tea Party at work, wanting to abolish paper dollars and replace them with coins. Good or bad idea? I don't think coins would work well in my wallet.



    House GOP wants to cash out dollar bill - The Hill's Floor Action
    I don't care one way or the other, really, and I don't really think this is a partisan issue.
    Also, we need to legalize recreational drugs and prostitution.

  10. #30
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    Re: House GOP wants to cash out dollar bill

    Pretty interesting, surely the government would be creating a good amount of jobs if they abolished the paper dollar and at the same time they would be seriously harming businesses in the short term.

    Bill changers, cash registers, vending machines would most likely need to be modified and taking the weekend deposit to the bank on Monday may require two people because of the added weight. There are lots of side effects to this IMO that are worth a closer look.

    So much for idea that government doesn't create jobs(I hear so often).

    Not saying it's right or wrong, just saying.

    What's really neat about the changing/modifying currency is that people tend to save some for collecting, like with the statehood quarter or the Lincoln cent a lot of people take a few of each and put them aside, I image the dollar changeover would be similar and many people would take bills out of circulation for keepsakes. Also there is nothing like giving the clerk a five dollar bill at the store and getting 3 or 4 new shiny(new)dollar coins as change and then socking them away to never see the light of day again in the hopes that someday they would be worth something.

    If I take four new dollar coins I got for change at the store and remove them from circulation and also sock a few old paper dollars away forever I wonder who benefits from that kind of activity? The fed maybe ?
    Last edited by Utility Man; 09-28-11 at 08:19 PM.
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