I was thinking, I wonder if self checkouts could currently be programmed to dispense dollar coins, after or IF the machine runs out of $1 bills. But as of right now, until we get rid of the $1 bill, I feel that self checkouts should only accept dollar coins, and not dispense them. There would be no point, as people would probably be asking near by cashiers for $1 bills every time they got a dollar coin in change at the machine. And also, how would a machine know who would want $1 bills and who would want dollar coins? BUT maybe, just maybe, if the stores would have self checkouts dispense DOLLAR COINS ONLY, and the stores told people that THAT is what they are dispensing, as it saves more money for machines to dispense only dollar coins, and not deal as much with bills, and THAT is what you MUST take, then it "could" work. This idea would be good to do with a $2 coin as well, and have the machines stop dispensing $2 bills (if they ever do make machines dispense $2 bills at first), although still accepting them, and only dispensing $2 coins as needed. Oh, and they could still be programmed to accept and despense halves as needed. (I almost posted this in my topic about vending machines that accept and/or dispense halves). But wouldn't this be a good idea for the $1 coin, and potentially the half and a $2 coin if the stores had these machines set up to accept paper $1 and $2 bills, but only spit out $1 and $2 coins in the respective bill's place, as needed? If every type of vending machine in the U.S. accepted, and more importantly, spit out $1 and $2 coins, and halves, they would all be common and people would spend them, just to get rid of them, or collect them in a change jar to return to a bank, or hoard them for a while, until they have too many to keep. As for cash registers not having spaces in their drawers for halves, $1 and $2 coins, I have heard of cash drawers with up to 8 coin slots, so, if stores replaced their current drawers with these 8 coin slot drawers, there's your answer: 1c, 5c, 10c, 25c, 50c, $1, $2, and $5. Yes, even a U.S. $5 coin in the future as Canada talks about a Canadian $5 coin a lot. But I do not think that the $1 bill is going anywhere any time soon, let alone the $2 and $5 bills, unfortunately. Nice thought though.
It really just needs to be mandated that we no longer produce $1 and $2 bills and have 1$ and 2$ coins. It would save the government money vs. them raising my taxes. The lobbyists for the paper and ink companies though have stopped legislation to make it so, unfortunately. In any case, dollar coins won't get into circulation until they start to get dispensed at stores, I can direct ship however many boxes and hand them out to every place I shop, they'll just be put in the drawer then taken the the bank.
Conpewter I dont think they will ever stop producing dollar bills simply since us Americans don't really like carrying change in our pockets. It's easier to carry bills in our wallets then it is change
It would be hard to justify accepting only the coins when nobody even has them. It's not that people wouldn't use them if they were available, but how often do people even get them in the first place? Who goes to the bank to buy a stack of one dollar bills to use in daily transactions? Nobody, so why would they do that with dollar coins. If they don't get them in change to re-use, they won't get used at all, and a machine that therefore only accepts the coin version will never see use. Guy~
Obviously you never go to flea markets, play cards with friends or neighbors, purchase candy from those kids that raise money for thier school functions, etc. More than likely you only place pennies in those Salvation Army cannisters. When I go to a bank, I usually always get up to $100 in singles for all those activities. At flea markets it is almost mandatory to haggle prices downward. One of the stratigies is to always say I only have $3.00 so that $5 item would just have to be less. This only works if you produce SINGLES. If you produce a $10 bill after that, you'ld be lucky not to get smacked. I go to a lot of restaurants. Ever leave a tip? I do and usually it's in singles. I have a freind in the vending machine buisness. He would like to know who would pay for the conversions of his machines to take those baby dollars. Stores too would like to know WHO will pay for cash register drawers that have a spot for those baby coins. Conductors on commuter trains that carry those coin changers would like to know who will pay for a new coin changer that accepts those baby dollars. And of course any tailor would love people to carry more of those so they could make money fixing holes in the pockets.
Hate to say it, but I think you're the exception, Carl. Most people dont carry around $100 in ones lol. Quite honestly, the only time I use them myself is in vending machines at work, and most of the time I'd love if they were dollar coins because the machines usually reject half the bills because of ware. On average I carry about five singles. I doubt it's much different than the average American. The difference in actual weight to five coins is minimal, if even noticeable. Guy~
No, you misunderstood me. I said that the self checkouts would still ACCEPT $1 bills, but the machines should be programmed to dispense only dollar coins, anywhere in a transaction where it would normally dispense $1 bills. However, if this plan were put into action, they should make it so that the self checkout also dispenses $2 bills (or $2 coins if they ever make them) as needed, to avoid people complaining "Damn it! I have four lousy heavy coins to carry around" or some crap like that. And if they ever do retool machine and add $2 coin tubes, I will really be lobbying and fighting to get a half dollar tube put in those machines while they are all torn apart. It would be cost effective that way. I know some of you have said that they no longer mint halves for circulation, but there is no reason that can't change. If the self checkout people would retool for halves, then, problem solved.
Every business out there. EXACTLY dispense twos and dollar coins, accept all of them. That way they get out into peoples hands, but no one ever has to take more than one of them. (If your change would give you back more than one of them you would get a two dollar note instead.)
I'll try to make this simple and short (fat chance of that happening). This "subject" has been discussed many times in various ways. As a guy that collects paper money as well as coins I'd hate to see the folding variety dollar disappear. However, UNTIL, we get rid of the paper the coins will go nowhere fast. Don't believe me? Then why does the mint have a direct ship program for the new Native American dollars? You pay face value and they ship them for free! Oh, by the way, you can order 2001 Sacagaweas that way as well as a few Presidential dollars. Seriously, what does this tell you about the success of the dollar coin program in this country? Want more? Ask any coin dealer that buys from the general public. We see it all the time. People see these and hoard them NOT spend them. I can not tell you how many times people have brought coins in to sell and it's Susan Bs, Sacagaweas, Presidentials and Ikes. Had a guy come into today with 23 Sacagaweas and Susan B's. I told him to spend them. Look at it this way folks. We're on a big coin forum because, well, we are coin collectors. The average American is not. Therefore a dollar coin is an odd and rare experience. How long has the U.S. been trying to get these coins into regular circulation now? Ikes started in 1971 didn't they? Before anyone comments how they DO circulate where you live let me tell you that overall dollar coins have been nothing but failure after failure. Getting rid of the paper is the ONLY way to really get them to circulate. Personally I say scrap the coins and keep the paper but after all I collect paper.
I've got $75 left to spend from my Sac/Native direct shipment. I spend them every day for lunch or coffee or whatever. I give my neighbor these $1 coins for fresh ranch eggs and she say, "Oh, my kids will love these!" I know these coins are going to be hoarded by the kids but they are out there, not back to the Fed through a bank. I do wonder what happens to them when I spend them at a fast food place, where I'm always looked at a bit funny for giving these coin for food. Do these cashiers give them to customers for change, or just save them to go in the bag, back to the bank, and back out of circulation? I'd like to see, just once, a human cashier, give a $1 coin back in change. That would make me feel that at least, my efforts are not completely, futile. I think that the self check outs should dispense (and accept) the $1 coins. When someone gets them in change, they'll either keep them or spend them. That is circulation, to some degree. I think, after I spend my last $75 of the '09 Sac/NA's I'll do it again with the 2010's or maybe I'l be daring and get the 2001's!! Oh, that may be going too far. Bruce
Quit making the $1 and $2 paper money - and use the $1 coin - you can leave tips, put in halloween bags and still haggle at flea markets with $1 coins - get a grip. It's time to move on, just like we stopped using the 2 cent coin. I am 55 years old and I can accept the change - why can't you young people? Selfish? You would have been tough at the time they swapped horses for cars... LOL
Give it time, eventually with enough time and inflation the dollar will have the same purchasing power as a cent, or less. Then it will be a moot point.:goof:
In NYC, the buses and parking meters take them. It weighs less than 4 quarters and at Midtown prices (50 cents for ten minutes) it takes a few!
Whenever I go into D.C. I always have a few dollar coins for the buses. I find it quicker to drop it in the coin well than fiddle with the paper dollar. But thats the only time I ever make sure I have them. I did have one guy offer me $5 for a dollar coin at a bus stop once, I just told him he can get them for change at any metro station.
