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Response to EastTennesseeDem (Reply #8)

Tue Jun 12, 2012, 06:05 PM

15. I haven't figured it out. I don't like the back side of the new ones.

 

I use dollar coins whenever I can, Suzies or golden, whatever I've got. It's a lot easier to dig a few out of my pocket than to get my wallet out and there are places you REALLY don't want to pull out a wallet. Canada uses them for $1 and $2 amounts and Australia (similar currency value) gave up the penny over 20 years ago. With pricing today, dropping the quarter even makes sense if people would just start using half dollars again. Inflation happens.

Now for electronic purchasing, it really doesn't matter. They could use fractions of cents and it wouldn't matter. But for currency, how often do you buy something that isn't close to a 50 cent or dollar round-off? Everybody has jars of coins in their house and don't even try to tell me (whoever is reading this) that you don't. I recently cashed in $300 at the bank's coin counter (free service, no surcharge) that had been sitting around for about ten years. One of my daughters went through every coin looking for old ones. She found a few.

Coins are far cheaper for the US Mint. They last pretty much forever, opposed to paper money which wears out quickly and is still easy to counterfeit. The exceptions to the rule are the nickel and penny. The mint actually makes a profit off of dollar coins, and to a lesser degree all of the other smaller denominations. Paper's easier to print but it doesn't stay in circulation for long. And why is it that we don't have anything larger than a $100 bill anymore? Try moving $5K in cash between banks. I'd rather have something I could put in my wallet than an envelope full of bills.

- this wasn't intended to be one, but it apparently turned into one.

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Arrow 22 replies Author Time Post
raccoon Jun 2012 OP
pipi_k Jun 2012 #1
YellowRubberDuckie Jun 2012 #13
a kennedy Jun 2012 #2
JustABozoOnThisBus Jun 2012 #3
HopeHoops Jun 2012 #4
EastTennesseeDem Jun 2012 #8
LineLineLineNew Reply I haven't figured it out. I don't like the back side of the new ones.
HopeHoops Jun 2012 #15
mrmpa Jun 2012 #16
Angleae Jun 2012 #21
Bucky Jun 2012 #5
Auggie Jun 2012 #7
KamaAina Jun 2012 #6
IcyPeas Jun 2012 #9
raccoon Jun 2012 #10
RebelOne Jun 2012 #11
pokerfan Jun 2012 #20
Pauline89 Jun 2012 #12
Wait Wut Jun 2012 #14
lastlib Jun 2012 #17
NightWatcher Jun 2012 #18
Arkansas Granny Jun 2012 #19
Broken_Hero Jun 2012 #22
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