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Thread: House GOP wants to cash out dollar bill

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    House GOP wants to cash out dollar bill

    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 Republicans have introduced legislation to retire the dollar bill and replace it with a mandated dollar coin.

    A pair of senators, however, have introduced a competing measure to protect the paper dollar from, as they call it, the “unpopular $1 coin.

    Rep. David Schweikert (Ariz.) and two other House Republicans — including supercommittee co-chairman Jeb Hensarling (Texas) — introduced legislation last week aimed at retiring the paper dollar. Schweikert said his bill would save billions of dollars over the next few decades by transitioning to a dollar coin in four years, or as soon as $600 million worth of dollar coins are in circulation.

    [snip]


    House GOP wants to cash out dollar bill - The Hill's Floor Action


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    Re: House GOP wants to cash out dollar bill

    I've wanted them to do this for the longest time. Hell, even liberals should love it because of all the resources we'd save by not having to reprint paper every so often.

    The dollar bill is (duh) the most circulated paper currency we have, which means it gets worn out the quickest, which means we'd have to replace it the most. Coin form ensures that a lot of waste is prevented.

    So I have to ask...you find this bad because...why?

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    Re: House GOP wants to cash out dollar bill

    It's just common sense. They should do it.

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by Gipper View Post
    I've wanted them to do this for the longest time. Hell, even liberals should love it because of all the resources we'd save by not having to reprint paper every so often.

    The dollar bill is (duh) the most circulated paper currency we have, which means it gets worn out the quickest, which means we'd have to replace it the most. Coin form ensures that a lot of waste is prevented.

    So I have to ask...you find this bad because...why?
    As long as the increase in the price of whatever resource we use and the processing of it to coin is less than the paper method, I don't have a problem with it.

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    Re: House GOP wants to cash out dollar bill

    Actually its a fantastic idea.

    Everytime I come to the states, and my wallet ends up filled with dollar bills and every other denomination is the same colour... well it's just ludicrous.

    Edit: Cheap Strippers will be very hurt by this.
    Last edited by Jetboogieman; 09-28-11 at 12:01 PM.

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    Re: House GOP wants to cash out dollar bill

    It would have to be incredibly significant to not warrant its retirement, considering that metal coins from well over 100 years ago are still around, and the $1US has a shelf life of what, about 6 months?

    Plus, it'd help the government "go green"...no pun intended.

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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
    This idea was around long before there was a tea party, going back at least to the 80's. The idea is that since coins last much longer than paper bills the money is actually cheaper to make and with inflation dollar bills are worth only what quarters used to be worth in terms of buying power.
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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by Redress View Post
    This idea was around long before there was a tea party, going back at least to the 80's. The idea is that since coins last much longer than paper bills the money is actually cheaper to make and with inflation dollar bills are worth only what quarters used to be worth in terms of buying power.
    Yeah, but I hate dollar coins. They suck and then you end up with 30 pounds of change. Like when I went to Canada and they have the 1 and 2 dollar coins. I hate change.
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    Re: House GOP wants to cash out dollar bill

    If it saves money then I say do it.
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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by Redress View Post
    This idea was around long before there was a tea party, going back at least to the 80's. The idea is that since coins last much longer than paper bills the money is actually cheaper to make and with inflation dollar bills are worth only what quarters used to be worth in terms of buying power.
    This might be a good idea if people like dollar coins, but by all indication they don't.

    The Federal Reserve Stores $1 Billion In Dollar Coins That No One Wants : NPR

    And they keep making more.


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