Speakeasy forum

Praise

What do you think? Time for another kick at the can?

by JP Bill / November 30, 2012 4:06 AM PST
Congress looks at doing away with the $1 bill

WASHINGTON (AP) - American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what's best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years.

Vending machine operators have long championed the use of $1 coins because they don't jam the machines, cutting down on repair costs and lost sales. But most people don't seem to like carrying them. In the past five years, the U.S. Mint has produced 2.4 billion Presidential $1 coins. Most are stored by the Federal Reserve, and production was suspended about a year ago.

The latest projection from the Government Accountability Office on the potential savings from switching to dollar coins entirely comes as lawmakers begin exploring new ways for the government to save money by changing the money itself.

The Mint is preparing a report for Congress showing how changes in the metal content of coins could save money.


We have the $1 and $2 coin up here (have for years) and heading towards getting rid of the penny completely.
Post a reply
Discussion is locked
You are posting a reply to: What do you think? Time for another kick at the can?
The posting of advertisements, profanity, or personal attacks is prohibited. Please refer to our CNET Forums policies for details. All submitted content is subject to our Terms of Use.
Track this discussion and email me when there are updates

If you're asking for technical help, please be sure to include all your system info, including operating system, model number, and any other specifics related to the problem. Also please exercise your best judgment when posting in the forums--revealing personal information such as your e-mail address, telephone number, and address is not recommended.

You are reporting the following post: What do you think? Time for another kick at the can?
This post has been flagged and will be reviewed by our staff. Thank you for helping us maintain CNET's great community.
Sorry, there was a problem flagging this post. Please try again now or at a later time.
If you believe this post is offensive or violates the CNET Forums' Usage policies, you can report it below (this will not automatically remove the post). Once reported, our moderators will be notified and the post will be reviewed.
Collapse -
What I see them used in is parking garages
by Steven Haninger / November 30, 2012 5:32 AM PST

You don't pay with them but you get them back as change in parking garages that have unattended exits. You either pay by credit/debit card or insert nice crispy paper currency. If paying by paper, you get change back in those 1 dollar coins. I don't know how else they'd do this as I'm seeing fewer parking garage attendants and more of these machines. I suppose they could dispense crispy one dollar bills but it's the paper that tends to jam them.

Collapse -
Do away with the penny too
by Roger NC / November 30, 2012 8:22 AM PST

round everything off to 5 cents.

As for dollar coins, make it a $2 coin and anything less can be in quarters. Or just do away with the dollar altogether.

Collapse -
One of the problems I saw with the dollar coins
by Diana Forum moderator / December 2, 2012 10:37 PM PST

(I will admit I haven't seen the Presidential ones) is that they were too close in size to the quarter and I know I put one in a vending machine thinking it was a quarter and it took it and gave me credit for a quarter rather than a dollar.

Diana

Collapse -
Yup, that happened a lot
by Josh K / December 2, 2012 10:50 PM PST

I did it once or twice myself.

I don't think doing away with the dollar bill is necessary or even wise. Who is going to be able to slip dollar coins into a stripper's g-string????? Devil

Collapse -
Why not be enterprising and fix that "tipping" issue
by Steven Haninger / December 3, 2012 2:29 AM PST

I'm sure a properly made credit card scanner could be discretely fitted somewhere on her body. You'd just need to work on your card swiping technique. Devil

Collapse -
Half the "thrill"....
by Josh K / December 3, 2012 3:11 AM PST

....is slipping the bill under the g-string. I'd like to see you do that with a credit card. Wink

Collapse -
I imagine you'd miss the target more than hit it.
by Steven Haninger / December 3, 2012 3:30 AM PST
In reply to: Half the "thrill"....

Of course I've no personal experience...

Collapse -
Very little here either.....
by Josh K / December 3, 2012 4:10 AM PST

.....other than a couple of bachelor parties. It's just funny to try to picture it. Maybe the strippers would make more money if the smallest bill you had on hand was a five.

Collapse -
I've carried picket signs and been to strip clubs
by JP Bill / December 3, 2012 4:30 AM PST
Collapse -
Seriously?
by Josh K / December 3, 2012 4:42 AM PST

Maybe nickels, dimes and quarters work in Canada but here you'd probably get your *** kicked.

Collapse -
I've seen plenty of those
by Steven Haninger / December 3, 2012 5:31 AM PST

Bus drivers and the "Yummy" man had those on their belts. Being a Yummy man was summertime work for teens. It involved peddling a 3 wheeler bike with an insulated cooler in the rear. The ice cream bars, popsicles, etc. were kept frozen with dry ice. I imagine that work is illegal now.

Collapse -
(NT) So would she
by Diana Forum moderator / December 3, 2012 8:53 AM PST
In reply to: Half the "thrill"....
Collapse -
I think the biggest hassle
by TONI H / December 3, 2012 12:28 AM PST

with the coins is where to carry them.....dollar bills fit nicely into a wallet or in my case a combo wallet/checkbook. I would have to lug around a coin purse as well because the size of the coin area of my wallet only holds so many before I can't even zipper it closed. Having dollar coins in a pocket would be cumbersome and weighty.

Collapse -
That is one problem but another is
by Diana Forum moderator / December 3, 2012 8:55 AM PST

I hear that the problem with coins is that the metal in the coin is worth more than the coin. I don't know it that is still true or not.

Diana

Collapse -
But coins last for decade or more
by Roger NC / December 3, 2012 8:56 AM PST

look in your change.

Dollar bills last less than a year, due to high travel.

Collapse -
Pennies...the copper..Once they take them out of circulation
by JP Bill / December 3, 2012 11:30 AM PST
Collapse -
(NT) bet you can't find many pure copper pennies
by Roger NC / December 4, 2012 8:11 AM PST
Collapse -
98% is the best I can do....
by JP Bill / December 4, 2012 11:12 AM PST
Collapse -
Frankly, I think we should round all to the nearest nickle
by Roger NC / December 6, 2012 7:57 AM PST

and do away with pennies.

If we do away with pennies, then there will be a slot in the cash drawer for dollar coins.

I read once the biggest problem when they were trying $2 bills was there was no where for them. If they wanted $2 bills, they should have stopped printing $1 bills at the same time.

Collapse -
extra slot in cash drawer
by James Denison / December 6, 2012 11:38 PM PST

the registers I used years ago always had an extra slot for coins. That's where we tossed the occasional Canadian coin, old silver coins an d wheat pennies to buy at end of shift, paper clips, found uniform buttons, etc.

Popular Forums
icon
Computer Help 49,613 discussions
icon
Computer Newbies 10,349 discussions
icon
Laptops 19,436 discussions
icon
Security 30,426 discussions
icon
TVs & Home Theaters 20,308 discussions
icon
Windows 10 360 discussions
icon
Phones 15,802 discussions
icon
Windows 7 7,351 discussions
icon
Networking & Wireless 14,641 discussions

Tech explained

Do you know what an OLED TV is?

CNET explains how OLED technology differs from regular TVs, and what you need to know to make the right shopping decision.