I like the dollar, but after living in Japan for a while, I can see where this might end up being a decent idea. Here in Japan, the smallest paper bill is ¥1000 (~$12 USD) and the largest commonly used coin is ¥500 (~$6 USD). My wallet here is a lot easier to organize, though your pocket change is worth a whole lot more.
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Replacing Dollar Bill With Dollar Coin?
- Thread starter scottness
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I like the dollar, but after living in Japan for a while, I can see where this might end up being a decent idea. Here in Japan, the smallest paper bill is ¥1000 (~$12 USD) and the largest commonly used coin is ¥500 (~$6 USD). My wallet here is a lot easier to organize, though your pocket change is worth a whole lot more.
We are already on the $2 coin up north and talking about a $5 coin. Most of the rest of the world has moved on. Let's get rid of pennies while we're at it.
If it's going to save money, they should just get it over with already. There's a bit of an adjustment period, but after a while, you get used to it.
I lived through the Canadian government replacing the Canadian dollar bill with a dollar coin, and then replacing the Canadian two-dollar bill with a dollar coin. At first it was cool, then it was a bit annoying, and then it didn't really matter because you got used to it.
It's bad when they accumulate and you have a heavy pile of coins instead of a bunch of bills.
It's good when they accumulate and you have twenty bucks sitting there that you didn't realize you had.
I'm not much of a cash person anyway, so it wouldn't affect me much (I use my credit card for everything....and yes, I pay it off in full each month. I do it for the reward points).
All I know is that snorting coke will get around $4 more expensive.
I lived through the Canadian government replacing the Canadian dollar bill with a dollar coin, and then replacing the Canadian two-dollar bill with a dollar coin. At first it was cool, then it was a bit annoying, and then it didn't really matter because you got used to it.
It's bad when they accumulate and you have a heavy pile of coins instead of a bunch of bills.
It's good when they accumulate and you have twenty bucks sitting there that you didn't realize you had.
I'm not much of a cash person anyway, so it wouldn't affect me much (I use my credit card for everything....and yes, I pay it off in full each month. I do it for the reward points).
All I know is that snorting coke will get around $4 more expensive.
It will not be as easy to store as dollars which could be a pain in the butt. I never have room for change and just give it to homeless people because I have no place to store it without it jiggling around which makes me mad
As long as inflation keeps up, those $1 coins will be worth as much as pennies anyway, and you can just toss them away.
In Japan, I end up using coins a whole lot more because of their value, and as a result, it doesn't accumulate. Back in the US, I never paid with coins and just took the change--and then it accumulated.
We've had 1 and 2 dollar coins here in Australia for at least 20 years now.
At least if you have coins rather than paper, they will continue to have metallic value irrespective of what the government does inflation wise.
And yes, having a few coins in your pocket that are actually useful is handy.
At least if you have coins rather than paper, they will continue to have metallic value irrespective of what the government does inflation wise.
And yes, having a few coins in your pocket that are actually useful is handy.
I'm all for it, but it's never gained any traction here in the US. Some people just don't like change, I guess...
I'm all for it, but it's never gained any traction here in the US. Some people just don't like change, I guess...
Easy, but I'll give you credit none-the-less.
I'm not too into strippers wearing helmets to protect themsleves from stray dollar coins flying at them, I like paper instead.
Coins are better and easier than bills for small denominations. Colored money is better than all the same color.
The US tried the dollar coin but it wasn't well accepted. I think they should come up with a better name for it like an eagle or something.
The US tried the dollar coin but it wasn't well accepted. I think they should come up with a better name for it like an eagle or something.
From my time living/studying in Rome and traveling abroad in Europe, I came to realize how amazing and coveted the 1-2 EUR coins were, especially in Italy. It was easily the most desired piece of currency around. Loved using them and having them.
It was just weird to have a stack of them and be like "oh this is 20-40 EUR, which (at the time rate was like 1.4-1.45ish) is like 28-60 USD, odd". It was just different having what could be a small stack of quarters actually be a sizable sum in your pocket.
It was just weird to have a stack of them and be like "oh this is 20-40 EUR, which (at the time rate was like 1.4-1.45ish) is like 28-60 USD, odd". It was just different having what could be a small stack of quarters actually be a sizable sum in your pocket.
I love the 1/2 coins compared to the dollars.
While your at it, why don't you make the different denominations different colors and sizes (like the rest of the planet.)
Also, just get a wallet with coin pouch just like everyone else.
http://www.amazon.com/Black-Leather-Wallet-Bifold-Pouch/dp/B00337JXSM
The comment about 2 coins adding up to a sizable sum is spot on. I can have 2 USD (8 quarters in my pocket) or 16 (20USD in 8 2 coins).
While your at it, why don't you make the different denominations different colors and sizes (like the rest of the planet.)
Also, just get a wallet with coin pouch just like everyone else.
http://www.amazon.com/Black-Leather-Wallet-Bifold-Pouch/dp/B00337JXSM
The comment about 2 coins adding up to a sizable sum is spot on. I can have 2 USD (8 quarters in my pocket) or 16 (20USD in 8 2 coins).
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I rembered seeing this BBC News article on it a while ago. I guess the simple fact is people don't like change; no pun intended.
It would be about time but I can imagine this would be met with typical American stubbornness to change.
In the UK the smallest bank note we have is £5. At strip clubs you don't throw coins at the dancer. Another woman walks around with a large beer mug and the punters put £1 & £2 coins in it. Kind of bizarre but I think throwing coins would get you thrown out on your arse.
In the UK the smallest bank note we have is £5. At strip clubs you don't throw coins at the dancer. Another woman walks around with a large beer mug and the punters put £1 & £2 coins in it. Kind of bizarre but I think throwing coins would get you thrown out on your arse.
I find it hard to believe a coin is cheaper than a dollar bill, but if so, I'm totally supportive of this too.
The penny might be the last barrier to rampant inflation that is devaluing your hard earned money. Its harder to devalue currency when you are required to make it with metals that cost money.
Australia's smallest banknote is $5, and pennies haven't existed for awhile.
This is the way it should be.
This is the way it should be.
An individual $1 coin IS more expensive to produce than a $1 bill.
However, you forget that a coin will last many $1 bills lifetimes, so in the long run coins are cheaper.
And yes, we should ditch the penny.