Colombia Blog

JD

No plan to replace bill with dollar coin

By WILL LESTER, Associated Press Writer
Sun Feb 11, 2007

WASHINGTON - Maybe Susan B. Anthony and Sacagawea should not take public rejection personally. It's not easy overcoming people's indifference to dollar coins, even those honoring such historic figures.

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 in favor of the more durable coin.

"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."

Two recent efforts to promote wide usage of a dollar coin proved unsuccessful. A quarter-century ago, it showed feminist Susan B. Anthony on the front; then one in 2000 featuring Sacagawea, the Shoshone Indian who helped guide the Lewis and Clark expedition.

The latest dollar coin will bear Washington's image, followed later this year by those of John Adams, Thomas Jefferson and James Madison. A different president will appear on the golden dollar coins every three months.

The series of coins will depict four different presidents per year, in the order they served.

Congress voted to create the new dollar coin, betting that this series would be more popular than its recent predecessors.

The Susan B. Anthony dollar put the image of the women's rights activist on a small silver coin that looked a lot like a quarter. The U.S Mint was left with millions of unused coins.

As for the Sacagawea dollar, gold in color, millions of the coins also piled up in bank vaults for the same reason: lack of demand.

People say they just prefer the traditional greenback.

"The dollar bill is lighter, takes up less space in a clutch or a man's wallet and paper money counts easier and stacks up easier than metallic coins," said wife Wise of York, Pa.

People have strong feelings about their money, even the penny.

A congressional effort to reduce the need for the cent piece failed even though it costs more to produce the copper-colored coin than the coin is worth.

When people were asked whether the penny should be eliminated, 71 percent said no, according to the poll of 1,000 adults conducted Nov, 28-30. Some fear that getting rid of the penny will cause product prices to be rounded up, perhaps increasing inflation.

In other poll findings:

_53 percent said they carry their loose change collected during the day to use for future purchases.

_42 percent put their loose change in a jar or piggy bank each day.

_48 percent said they use cash for purchases under $10.

_28 percent said they usually use cash in such cases, but sometimes use credit or debit cards, according to the poll with a margin of sampling error of plus or minus 3 percentage points.

Rather than a high-profile ad campaign like the one used to introduce the Sacagawea dollar, the Mint is trying a more grass-roots approach. The agency is talking to the Federal Reserve, banks and vending machine operators to stir up interest in the new dollar coin.

Supporters of the new presidential dollar coin point to the success of the 50-state quarter program. Begun in 1999, this program has introduced millions of people to coin collecting for the first time.

For Richard Wander of Albany, N.Y, the dollar coin is a welcome addition because he is "kind of a collector."

"I think it's good to have both," he said. "Instead of taking time to put four quarters in a parking meter, you could put in a dollar.

"But I think dollar bills are part of the economic system," he said, "and they work fine."

The presidential coins will be the 14th dollar coin series produced by the Mint going back to 1794. The Susan B. Anthony replaced the Eisenhower dollar in 1979.

Before the Eisenhower dollar's introduction in 1971, there was a gap of 36 years when the Mint did not produce a dollar coin after the last Peace dollar was minted in 1935.

The public can start getting the Washington dollars on Thursday from commercial banks that have placed orders with the Federal Reserve, which handles coin distribution for the Mint.

U.S. Mint Director Edmund C. Moy said he was encouraged by the initial demand for the new coin. The Fed has ordered 300 million Washington dollars so far.

JD · Posted: Sun 02 11, 2007 10:35 pm Post subject:

I hope the dollar bill doesn't go away anytime soon..

I hate coins...it's what I mostly hated about Canada and Spain...all those stupid coins.

Imagine breaking a five dollar for a 50 cent purchase and getting 6 coins back...fuck that...

Viva the Dollar bill...

and can someone please explain why ever had a two-dollar bill?

**Rubito** · Posted: Sun 02 11, 2007 10:59 pm Post subject:

I'm pissed because they made the 1000 and 2000 peso notes smaller than normal size. I imagine it was done for the visually impaired etc but now my wad of notes is always fucking falling apart!
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**kernow** · Posted: Sun 02 11, 2007 11:12 pm Post subject:

Get rid of the dollar bill those things are ugly and unhygienic. Coins are nicer and a joy to behold, plus you can sterilize them much easier. Make the new dollar coin small, a bit less so than the quarter, but nice and thick.

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**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

JD · Posted: Sun 02 11, 2007 11:15 pm Post subject:

**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

**kernow** · Posted: Sun 02 11, 2007 11:18 pm Post subject:

They should do a $2 coin and a $5 coin while they are at it. Produce them in China it will be cheaper.
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Theology is a mild form of insanity - Frank Yerby

**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

Looks fine to me...

JD · Posted: Sun 02 11, 2007 11:19 pm Post subject:

**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

$5 coins would SUCK. $1 and $2 works out just fine - but a little extra culling (donating) of pennies helps.

Edit. ah I see where you are going. Why not a $10? We're getting a million dollar coin here.

**kernow** · Posted: Sun 02 11, 2007 11:20 pm Post subject:

JD · Posted: Sun 02 11, 2007 11:22 pm Post subject:

**kernow** · Posted: Sun 02 11, 2007 11:22 pm Post subject:

**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

JD · Posted: Sun 02 11, 2007 11:23 pm Post subject:

**kernow** · Posted: Sun 02 11, 2007 11:34 pm Post subject:

**adrimm** · Senior Member Joined: 14 Jul 2006 Posts: 2092

Actually since there is no extra sales tax in most states, it would be far easier for you the US than us, (just can dimes nickels and pennies)... it would also take things back to as it probably has been for a long time -

Imagine lunch for just a few coins!

They do last much longer - the life of a coin is something like 5K x that of a bill.

**kernow** · Posted: Sun 02 11, 2007 11:41 pm Post subject:

Coins are needed, bills aren't, it is a simple fact.

See how silly it would be flipping a dollar bill at the start of a football match for instance. The damn thing would just waft about adding about 10 minutes to a game that already takes an eternity.

Now imagine all the fun at the ATM when instead of shoving a handfull of paper at you, a load of coins jingles into a little holder; it would be like you are at Las Vegas each time you visit the ATM.

When you drop a coin on the ground you hear it and can retrieve it before someone else finds it. Not so with bills, they simply blow out into the middle of busy traffic making you look like a fool bobbing and weaving between Hummers and Escalades to rescue your measly $1.
_________________
Theology is a mild form of insanity - Frank Yerby

**aztec** · Posted: Mon 02 12, 2007 7:51 am Post subject:

**hippiechick** · Posted: Mon 02 12, 2007 7:57 am Post subject:

boy it would really suck to lose a one million dollar coin the way i lose one dollar coins.

lol... i have no problem with coins. i'm used to them.

**Rubito** · Posted: Mon 02 12, 2007 10:40 am Post subject:

I HATED it in Canada when the loonie came out, and was even more miserable with the toonie. I always wound up with a pocket full of heavy metal pulling my pants down on one side, and that's embarassing on stage you know Razz

I agree ATMS should spit out smaller bills, or for a big withdrawal, a mix of bills. Some ATMS in Bogota are doing that now. It's great to take out 500k and just get a mix of 10s 20s and 50s. If you get all 50s you are FUCKED because nobody ever seems to have change for that. I love collecting 1k and 2ks and just whipping out the dinero and never needing change. It's also very important to have exact change when taking taxis.
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**hippiechick** · Posted: Mon 02 12, 2007 10:52 am Post subject:

i hated the loonie and twoonie when they came out too. but then i got used to it, and after living in england and australia - it's totally normal to me now.

i hate 1 dollar bills now.

**Rubito** · Posted: Mon 02 12, 2007 10:57 am Post subject:

You obviously don't go to many strip clubs Razz

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Cada especie monógama se extingue.

**Isa** · Posted: Mon 02 12, 2007 12:52 pm Post subject: