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Old May 28th 05, 11:47 PM
Fred Shecter
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Default Bank teller tells me that dollar bill WILL be replaced by Golden Dollar coin!

I went into a bank I frequent and there was a teller I did not recognize. As
luck would have it, I ended up being served by him. I changed some Twos for
MN quarter rolls. He was all excited about the Twos and proceded to tell me
several things, without any prompting or input from me:
1) He works in some capacity to service multiple branches - supplying them
with money wrappers and many other items and services. (I got the impression
he was filling in as a teller with so many normal tellers on vacation).
2) People always ask for Twos and they seldom have any. And they seldom
order any (you all know that story...).
3) He was going to keep those Twos for those who ask for them and he
expected them to be gone fast.
4) He then proceeded to tell me about a meeting he attended. I could not
tell if it was a meeting or a focus group or a briefing. I also did not
probe to find out if it was just for his bank or if it was for mutiple
banks/ armored carriers/ business leaders. It sounded like it was either
conducted by the Federal Reserve, the Treasury (Mint/BEP). Here is what he
told me.
* Presidential Dollar coins are coming soon (we know that from following the
legislation which calls for 2007- maybe they can move that up to 2006 or
maybe they need the extra year to tweak the alloy for maximum shininess?).
* Dollar bills will be gone by 2015. (that lines up good with the duration
of the Presidential Golden Dollar Coin program).
* Banks and businesses who order dollars will get Golden Dollars. Period.
(Not sure if that will wait until 2015 or if they can do that earlier).
* They looked at weaning folks off the $1 bill by flooding the USA with $2
bills, but they may just stop printing Twos and use the $5 bill and the
Golden Dollar Coins. (I imagine that if people started using tons of Twos
they might keep printing them, BUT if the intent is to transition folks over
to dollar coins, then using more Twos would work against that goal.).

Any reports on this in the media? Coin World? Anybody?

--
-Fred Shecter
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