Monday, February 12, 2007

Americans against dollar coin

An AP-Ipsos poll found that three-fourths of people surveyed oppose replacing the dollar bill, featuring George Washington, with a dollar coin. People are split evenly on the idea of having both a dollar bill and a dollar coin.

A new version of the coin, paying tribute to American presidents, goes into general circulation Thursday. Even though doing away with the bill could save hundreds of millions of dollars each year in printing costs, there is no plan to scrap the bill coiin favor of the more durable coin. (AP)

How many of these Americans have actually used a dollar coin? Having spent a couple weeks in Canada, I found their dollar (and 2-dollar) coins vastly superior in ease of use than our 1-dollar bills. (Ditto for England and their 1- and 2-pound coins.) It's easier to tip, easier to make small purchases (don't have to open your wallet) and you don't have your wallet overly stuffed with bills. They also work well in vending machines (no worries about damaged bills).

What exactly is the reason for staying with 1-dollar bills? Other than ignorance and inertia?

"I really don't see any use for it," Larry Ashbaugh, a retiree from Bristolville, Ohio, said of the dollar coin. "We tried it before. It didn't fly."

Ah, that would because the idiots at the mint created a dollar coin that was barely larger than the quarter. Hello? It's not like we don't have hundreds of examples in other countries on how to do it right. Make the dollar coins different than all the other denominations. I'm not a coin expert and I have to tell you that?

Oh, and if you want the 1-dollar coin succeed, don't keep the 1-dollar bill around. There's no real good reason for it. (Ditto for the penny.)


Lance said...

I agree, having travelled to several countries, dollar coins are much easier to use. Heck...I wonder if the paper US dollar is relavtively one of the smallest value paper currencies around?

I would like to get rid of the penny as well (and perhaps the nickel to).

Bruce Geerdes said...

I just heard today that the new dollar is only "slightly larger and thicker" than a quarter. Sounds like they're setting it up for failure.

Lance said...

Apparently, since the presidents will be featured on these coins, the first printing will have George Washington on it...which will likely cause even more confusion with the quarter.

It is almost like it was planned to fail.