Mike Dworetsky wrote:

Jim_Higgins wrote:
Here we go again, smoke and no fire

Senators again try to replace dollar bill with coin
http://tinyurl.com/kp9f9w2

This will be opposed by the vending machine lobby on the grounds of expense,
and by those stuck in the past generally. In the longer term there would be
clear savings to the treasury; printing $1 banknotes that wear out quickly
(a few weeks?) is expensive.

Vending machines already take $1 coins.



The UK had the same initial resistance in 1983 when the pound note was
replaced by the pound coin. But now no one would want to go back, and there
is a standard £2 coin as well.

And believe it or not, there are criminal gangs engaged in forging £1 coins
on a large scale (perhaps 2% of coins circulating are fakes). These can
only be detected by close visual inspection or when they fail to register
through a vending machine.

The US needs a good $ coin design if it is to succeed this time. Certainly
not anything that is the size of a quarter.

--
Mike Dworetsky

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