Dollar Coins

Here's the link from nytimes.com: http://www.nytimes.com/2007/02/15/business/15dollar.html?hp&ex=1171515600&en=73d39692ee98fab3&ei=5094&partner=homepage

It's about minting coins with dead presidents on them, and coming out with four each year, like the state quarters. The quarters have been successful, while the Sacagawea coin, not so much. And what about getting rid of the dollar bill? I'd prefer coins; paper is so annoying.

Colleen

Honestly, having a coin wouldn't change much. We have dollar coins already in multiple varieties...it would be impossible to completely phase out the dollar bill, so why waste the money trying? It won't help the dollar go up in value.

I agree that coins are more convenient than bills, but I'm not convinced it's worth it. If I'm going to have other bills anyway, why eliminate the dollar?

I don't have a particularly strong opinion either way (which is strange for me) so I dunno...I don't know enough about it to really care. From the outside though, it seems pointless. The dollar is not about to suddenly catch up to the Euro- so why waste money on something useless?

I agree with xtenx. While a dollar coin would be more convenient than a dollar bill, we've already attempted to make dollar coins, and they haven't caught on. Why waste more money trying? We'll never get rid of the bill, and I just don't see much of a point to try. But, I don't care either way.

i have dollar coins... i like them much better than say... a $5 dollar note. If i have 5 1 dollar coins, i feel richer

Whether or not the US spends such and such money minting dollar coins won't affect the exchange value of the dollar; that's largely determined by the trade deficit, budget deficit, and how abundant it is.

If everyone used dollar coins instead of dollar bills, it would result in a lot of money saved. While the upfront cost does make a coin more expensive, you can keep a coin in circulation for decades versus only a couple years for a bill. Besides, you're not actually wasting money by making the coins. You'd only be wasting money if people threw them away, which seems unlikely.

In any case, I think this is cool. We got the first coin here in the office, and it's definitely snazzy. Of course, all of this could be rendered moot within the next decade or two as everyone begins to just use electronic cash (I almost always just pay with debit these days).

Way to follow up on our Canadian ways. Anywho, it worked for us; it should work for you Americans too .

Go Canadians! They do this in Europe too; my friend went to Spain for school last summer and brought back lovely coins.

Nate makes a fine point, but I still think tangible cash will be around for at least a few more decades.

Colleen