Fed Reserves overstocked on the Coin Standard

Started by CountDeMoney, September 07, 2011, 06:19:09 AM

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mongers

Quote from: Tyr on September 07, 2011, 07:12:40 PM
So...it seems to me that people are willing to use dollar coins but the system in place for distributing them is utterly retarded and requires people to go out of their way and order them over the internet.

Is there not a way to get them into regular circulation? Making post offices give change in dollar coins or the like?

The idea of a dollar note always struck me as a bit mad. Hell, the Swedish 20 sek note was daft enough. Even the UK 5 pound isn`t worth what it used to be even 10 years ago and we should be looking towards (properly) turning it into a coin. :nelson:

QuotePennies are still needed to make change in commerce, stores, etc.
In several European countries IIRC they don`t have euro coins up to....5 cents? or was it 10 even? They just round to the nearest one they do have coins for.
Hell, even in Sweden I remember seeing things that cost 49.90 even though the only ore coin was the 50.

There's already 5 pound coins but there still only commemorative issues, so it would be daft to use them for their denomination.
"We have it in our power to begin the world over again"

C.C.R.

Strippers get pissed when you stuff dollar coins in their g-strings.  Especially when you put them in the freezer first...

:ccr

mongers

Quote from: C.C.R. on September 07, 2011, 08:58:03 PM
Strippers get pissed when you stuff dollar coins in their g-strings.  Especially when you put them in the freezer first...

:ccr

:D
"We have it in our power to begin the world over again"

mongers

Quote from: Razgovory on September 07, 2011, 07:21:31 PM
Quote from: KRonn on September 07, 2011, 06:43:43 PM
Quote from: mongers on September 07, 2011, 03:27:58 PM
Quote from: DGuller on September 07, 2011, 03:20:59 PM
Apart from that, the basic problem is that it's more of garbage now than an actual legal tender, and that imposes costs of their own.  Who actually carries pennies with them anymore?  Everyone I know filters them out and puts them in a bottle or something of that nature.

I'm guessing you've now reached the point in the US where you can't actually buy anything for just one cent ? 

IIRC that was the major reason for withdrawing our 1/2 penny a good few years ago, once you could buy haf'penny sweets so the coin had a use until those went up to 1p each.  Incidentally I'd guess those sort of traditional sweets/'penny chews' probably cost 2 or 4 pence each.  :hmm:
Pennies are still needed to make change in commerce, stores, etc.

Why?  We don't use mils anymore.

What were mils ?
"We have it in our power to begin the world over again"