A collecting forum. CollectingBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » CollectingBanter forum » Collecting newsgroups » Paper Money
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

NH store uses $2 bills and 50¢ coins



 
 
Thread Tools Display Modes
  #1  
Old July 6th 10, 07:08 PM posted to rec.collecting.coins,rec.collecting.paper-money
Paul Anderson[_2_]
external usenet poster
 
Posts: 36
Default NH store uses $2 bills and 50¢ coins

The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2
bills as "normal money" at his store.

http://www.unionleader.com/article.a...+merchant+make
s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac

Paul
Ads
  #2  
Old July 6th 10, 08:57 PM posted to rec.collecting.coins,rec.collecting.paper-money
Drago the Wolf
external usenet poster
 
Posts: 92
Default NH store uses $2 bills and 50¢ coins

On Jul 6, 2:08*pm, Paul Anderson wrote:
The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2
bills as "normal money" at his store.

http://www.unionleader.com/article.a...+merchant+make
s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac

Paul


These are the two "odd" denominations they SHOULD be concentrating on
getting circulating. NOT dollar coins. We already have $1 bills, but
we do not have a 50 cent bill or a $2 coin circulating, so, lets
concentrate on getting a couple forms of currency who's DENOMINATION
does not even circulate. We already have a "$1 unit" circulating, so I
think we need to worry more about a 50 cent unit and a $2 unit
circulating, more than trying to fight over "which $1 unit should
circulate"

Besides, at least most regular cash registers have $2 bill slots and
half dollar coin slots. No need to worry about $1 coins, as they
TRUELY ARE "the unit of currency with no space for it in the cash
register"
  #3  
Old July 6th 10, 09:01 PM posted to rec.collecting.coins,rec.collecting.paper-money
Drago the Wolf
external usenet poster
 
Posts: 92
Default NH store uses $2 bills and 50¢ coins

On Jul 6, 3:57*pm, Drago the Wolf wrote:
On Jul 6, 2:08*pm, Paul Anderson wrote:

The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2
bills as "normal money" at his store.


http://www.unionleader.com/article.a...+merchant+make
s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac


Paul


These are the two "odd" denominations they SHOULD be concentrating on
getting circulating. NOT dollar coins. We already have $1 bills, but
we do not have a 50 cent bill or a $2 coin circulating, so, lets
concentrate on getting a couple forms of currency who's DENOMINATION
does not even circulate. We already have a "$1 unit" circulating, so I
think we need to worry more about a 50 cent unit and a $2 unit
circulating, more than trying to fight over "which $1 unit should
circulate"

Besides, at least most regular cash registers have $2 bill slots and
half dollar coin slots. No need to worry about $1 coins, as they
TRUELY ARE "the unit of currency with no space for it in the cash
register"


Oh, and need I mention that ALL self-checkout and vending machines
made today, tomorrow and beyond SHOULD be equipt to accept and
dispense $2 bills and halves as needed? I think NOT.
  #4  
Old July 7th 10, 02:58 AM posted to rec.collecting.coins,rec.collecting.paper-money
Flame
external usenet poster
 
Posts: 1
Default NH store uses $2 bills and 50¢ coins

Paul Anderson wrote in newsaulranderson-
:

The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2
bills as "normal money" at his store.

http://www.unionleader.com/article.a...+merchant+make
s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac

Paul


The US should look at the route Canada took. We abandoned the $1 bill in
favor of a $1 coin in the 70's and saved millions in printing costs as the
coins last decades longer. We did the same to our $2 bill in the 80's.

I am a bill collector and miss new issues of both denominations but I can't
ignore the savings to the government by making this change.

Also, as the US has proved a couple of times, you can not make a $1 coin be
accepted unless you withdraw the paper equivalent at the same time.

As for 50 cent coins - they exist up here but are just as rare in
circulation.

Flame
  #5  
Old July 7th 10, 03:19 AM posted to rec.collecting.coins,rec.collecting.paper-money
Michael Benveniste[_2_]
external usenet poster
 
Posts: 228
Default NH store uses $2 bills and 50¢ coins

"Drago the Wolf" wrote:

Oh, and need I mention that ALL self-checkout and vending machines
made today, tomorrow and beyond SHOULD be equipt to accept and
dispense $2 bills and halves as needed?


Shall we send you the bill to modify all these machines?

Simple truth. The majority of people living in the U.S. have
never thought of a half-dollar as a circulating coin, because
they had for all practical purposes stopped circulating years
before they were born.

I don't know when the $2 bill last saw widespread circulation,
but it wasn't in my lifetime. There's just no perceived need
for either denomination. Unless and until the next round of
double digit inflation, inertia will rule.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain

  #6  
Old July 7th 10, 05:24 AM posted to rec.collecting.coins,rec.collecting.paper-money
Drago the Wolf
external usenet poster
 
Posts: 92
Default NH store uses $2 bills and 50¢ coins

On Jul 6, 10:19 pm, "Michael Benveniste" wrote:
"Drago the Wolf" wrote:

Oh, and need I mention that ALL self-checkout and vending machines
made today, tomorrow and beyond SHOULD be equipt to accept and
dispense $2 bills and halves as needed?


Shall we send you the bill to modify all these machines?


No, you shalln't. These machine companies have been a round PLENTY of
DECADES, to make modifying these machines, chump change. They can
spend a few millions or tens of millions of dollars to change "how"
they make their machines. After the first time they change their
machine manufature technique, the cost is over. Its not like the
issues I addressed about "redesigned" money, where they'd have to
reprogram machines to take the new designs. But do not go telling me
that the vending industry has not been around long enough to be able
to pay for these modifications, that would also "gain" them more money
in the long run. Not "much" more money, but more is better than less.


Simple truth. The majority of people living in the U.S. have
never thought of a half-dollar as a circulating coin, because
they had for all practical purposes stopped circulating years
before they were born.


I an before those times, but I would STILL STRINGLY love to see halves
in general circuation again, and even though they want to mint "more"
quarters with all of these damn programs going on, making halves
circulate would save probably hundreds of thousands to millions of
dollars a year, due to dealing with less quarters. Sure, a half uses
about a much metal as a quarter does, but a circulating half would
also SAVe vendors money, such as parking meter companies if people
used halves instead of quarters, because they would STILL be using
LESS coins. So, vendors would probably be a lot happier having to make
less trips to their machines to empty the quarter tubes.



I don't know when the $2 bill last saw widespread circulation,
but it wasn't in my lifetime. There's just no perceived need
for either denomination. Unless and until the next round of
double digit inflation, inertia will rule.


The same reason for the half, and the reason they reissued the $2 bill
in the first place: TO SAVE MONEY. They just had no idea that people
would reject $2s after all the time they were not used. This was said
in a coin and currency book I once read. They said that the government
had hoped to save millions by taking half of the load off the $1
bill's back. But they never really seem to have "encouraged" the
circulation of the half or $2, which they should now do, with
inflation and all.

My simple truth is that, banks and the FED SHOULD have a policy in
place where the FED send so much of ALL denominations to banks
INCLUDING halves and $2s, and the small banks SHOULD hand out $2s and
halves as needed, as their policy, and what else should be included in
their policy is, what ever change you are given, is what you get. They
should not give people "those two quarters, or those four $1 bills" if
they request them. Except in cases where you are a store who needs
their "singles" or quarters, but they should still be also getting a
suply of $2s and halves along with those quarters and $1s. But you
should also STILL be able to request certain "higher" bills, like say
you want it in $5s, $10s, $20s, $50s, $100s, or a higher denomination,
should the U.S. ever issue one again. THAT would be acceptable. But
common people who are just cashing a check or withdrawing a certain
amount of money should be given a half, and/or one or two $2s as
needed. People can, and will get over accepting a new denomination or
two, and may even start to "like" it.


--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain


  #7  
Old July 7th 10, 02:00 PM posted to rec.collecting.coins,rec.collecting.paper-money
shreadvector
external usenet poster
 
Posts: 228
Default NH store uses $2 bills and 50¢ coins

On Jul 6, 6:58*pm, Flame wrote:
Paul Anderson wrote in newsaulranderson-
:

The Manchester Union Leader had a front-page, above-the-fold story
yesterday about a merchant in Colebrook NH who uses half-dollars and $2
bills as "normal money" at his store.


http://www.unionleader.com/article.a...+merchant+make
s+his+money+work+for+him&articleId=c6b01735-f0cc-48ab-89e4-954bf713b0ac


Paul


The US should look at the route Canada took. We abandoned the $1 bill in
favor of a $1 coin in the 70's and saved millions in printing costs as the
coins last decades longer. We did the same to our $2 bill in the 80's.

I am a bill collector and miss new issues of both denominations but I can't
ignore the savings to the government by making this change.

Also, as the US has proved a couple of times, you can not make a $1 coin be
accepted unless you withdraw the paper equivalent at the same time.

As for 50 cent coins - they exist up here but are just as rare in
circulation.

Flame


50 cent coins will never circulate because they do not work in vending
machines. Everyday vending machines cannot accommodate such a huge
coin. They already accommodate the small dollar coin. The vending
mechanisms are identical for the USA and Canada and there are internal
switches to set programming ("USA Only" or "USA/CAN"). An internal
switch cannot magically make the internal tubes and coin pathways
larger to accommodate the half dollar coin.

Twos can circulate and have slowly increased in circulation (mainly
because of the Web, not USENET whic virtually everyone has
abandonded). Halves will never increase in circulation. And dollar
coins are already in use and circulating. In the USA they have not
"replaced" the rag dollar, but they are used in a variety of
applications including vending machines for parking lots, mass
transit, snacks, coin-op laundry, coin-op pool tables, etc. and some
folks actually use them as gasp "money" when buying stuff at stores
and restaurants.

Canada and Euroland knew what to do: eliminate the unit paper
denomination and use the coin.

Savings are not just in pringint cost, but also in seignorage profit
vs. the cost of borrowing to issue a Federal Reserve Note. Seignorage
for a huge half dollar coin is not worth it, especially when consumers
will be unable to use them in any vending machine. There is one
business that would *LOVE* a flood of halves into consumers pockets:
COINSTAR. They will reap huge profits when consumers dump their halves
into the machines and pay the 9-point-whatever percent fees.
  #8  
Old July 8th 10, 12:32 AM posted to rec.collecting.coins,rec.collecting.paper-money
Drago the Wolf
external usenet poster
 
Posts: 92
Default NH store uses $2 bills and 50¢ coins


50 cent coins will never circulate because they do not work in vending
machines. Everyday vending machines cannot accommodate such a huge
coin. They already accommodate the small dollar coin. The vending
mechanisms are identical for the USA and Canada and there are internal
switches to set programming ("USA Only" or "USA/CAN"). An internal
switch cannot magically make the internal tubes and coin pathways
larger to accommodate the half dollar coin.


Oh Fred, please,

We had already discussed that there was a way to equip ALL vending
machine to take a U.S. $2 coin, should the $1 rag go, and the $2 rag
bocome more popular, so popular in fact, that the U.S. would replace
it with a $2 coin as Canada did YOU SAID "Vending machines can be
"taught" to accept a U.S. $2 coin, just as they can and likely are,
equipt to accept Canadian $2 coins" and get this, I measured and
compared a Canadian $2 coin to a U.S. half, and the diference in size
of the "Canadian $2 coin Vs. the U.S. half" is roughly the same size.
Actually the U.S. half IS a little bit bigger BUT it is an EVEN
SMALLER difference than a "U.S. or Canadian $1 coin Vs. a U.S. or
Canadian quarter" So IF we do ever get a $2 coin, here in the U.S.,
while they are upgrading machines to take our new $2 coins, they
SHOULD also add a half tube to the machines. It can NOT possibly cost
all that much to add two new coin tubes if the vendor is already
adding "one" coin tube anyway. So, install two tubes (on for halves
and one for $2 coins) and replace each vending macing faceplates to
take the larger coin. I see many cases where a half would come in WAY
more handy than two quarters. There are those gumball and mini-toy
machines that charge 50 cents to get one item, and is paid for with
two slots for two quarters. That (using two quarters instead of ONE
half) creates DOUBLE the chances of that machine jamming up, should
one, or both coin slots fail to tak those two quarters for some
reason. Then the vendor has to come out to fix the problems, costing
him money that would not "totally" eliminate the risk, but it WOULD
cut that "risk" in "half" (No pun intended)



Twos can circulate and have slowly increased in circulation (mainly
because of the Web, not USENET whic virtually everyone has
abandonded). Halves will never increase in circulation. And dollar
coins are already in use and circulating. In the USA they have not
"replaced" the rag dollar, but they are used in a variety of
applications including vending machines for parking lots, mass
transit, snacks, coin-op laundry, coin-op pool tables, etc. and some
folks actually use them as gasp "money" when buying stuff at stores
and restaurants.

Canada and Euroland knew what to do: eliminate the unit paper
denomination and use the coin.


They ALSO learned to issue 200 and 500 paper units in Euroland, at
least. Yet ANOTHER thing we Americans NEED to do.


Savings are not just in pringint cost, but also in seignorage profit
vs. the cost of borrowing to issue a Federal Reserve Note. Seignorage
for a huge half dollar coin is not worth it, especially when consumers
will be unable to use them in any vending machine. There is one
business that would *LOVE* a flood of halves into consumers pockets:
COINSTAR. They will reap huge profits when consumers dump their halves
into the machines and pay the 9-point-whatever percent fees.- Hide quoted text -


Yes Fred, *evil grin*,

Remember, EVEN coinstar machine could NOT take dollars OR "halves" at
one time, and I remembered how they "upgraded" their machines to take
BOTH odd denominations. SO, if "they" can reprogram and equip "their"
machines to take halves, then I must ask, "What's stoping ALL other
vendors from upgrading for halves?" Seriously, I do LOVE the $1 coin,
and I REALLY wish we could get rid of $1, $2, and possibly $5 bills,
in favor of coins, IF the $5 coin did not "kill" the $2 coin's
circulation. However, I just do NOT see the government getting rid of
the rag dollar. You told me all of these "wonderous stories" about
Congress introducing legislation to get rid of both the rag dollar and
the cent, as early as late 2008. And don't say you didn't say that,
because you told me that in an email. Well, its more than half way
through 2010, and closer than further to 2011, so, WHERE is this
legislation at? I check the internet A LOT to see if I can find
anything about abolishing $1 bills in favor of dollar coins, but have
so far, picked up NOTHING. Where is your proof that the Obama
Administration is legislating the elimination of the $1 rag and the
Zincoln? They really SHOULD do this, since they are always looking for
way to save money, so, why have they not considered this issue/option
to save money? Its a simple solution, yet you do not see anyone in
Congress advocating it anymore, as if they have given up for ever. I
am sorry Fred, but I want to see some "proof" of your words.


All I am saying is that ALL VENDING MACHINES, MANUFACTURED TODAY,
TOMORROW, AND BEYOND, SHOULD BE MADE TO ACCEPT HALVES. (And I am NOT
"yelling" in those "caps" I just wanted to get my "point" along.) Half
dollar denomination coins, as well as $2 bills ARE a JUSTIFIED
denomination. Otherwise the U.S. government would not have even
"authorized" these two denominations. Especially seeing as the
govenrnent dropped their plans they originally had, to authorize
printing $3 bills. Maybe IF they get rid of the one cent coin, they
could redesign the half to be the size of the cent, but maybe a bit
"thicker" than a cent, but still copper plated OR a "polygon shape"
similar to the Canadian $1 coin, so that, even if they still make the
half a "silver" colored coin, you could easily tell a half from a cent
by thickness and shape. Or, eliminate the cent, make the nickel the
size of the cent, and make the half the size of the nickel. Problem
solved, as far as "that huge coin" issue goes.

- Show quoted text -


  #9  
Old July 8th 10, 08:37 AM posted to rec.collecting.coins,rec.collecting.paper-money
Scott Stevenson
external usenet poster
 
Posts: 276
Default NH store uses $2 bills and 50¢ coins

On Tue, 6 Jul 2010 22:19:54 -0400, "Michael Benveniste"
wrote:

"Drago the Wolf" wrote:

Oh, and need I mention that ALL self-checkout and vending machines
made today, tomorrow and beyond SHOULD be equipt to accept and
dispense $2 bills and halves as needed?


I don't know when the $2 bill last saw widespread circulation,
but it wasn't in my lifetime. There's just no perceived need
for either denomination. Unless and until the next round of
double digit inflation, inertia will rule.


Well, it's just one data point, but I just asked my mom, who started
working as a cashier in the mid 40's. She said she saw maybe one a
month in the 40's and 50's.

That makes sense, because if I look at
http://www.uspapermoney.info/serials/all___b.html it looks like there
were just over half a billion deuces printed between 1928 and the last
delivery of the $2 USN's in 1965. That's less that the number of
1957B $1 SC's printed.

take care,
Scott
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
The answer to getting halves, $2 bills and $1 coins circulating? [email protected] Coins 19 January 6th 09 07:54 PM
Michigan businesses use dollar coins instead of bills Paul Anderson Coins 1 October 5th 08 05:27 AM
Observations on Canada vs. US coins and bills Paul Anderson Coins 0 August 27th 05 03:58 PM
Ticket machines--using dollar coins or bills? Michael G. Koerner Coins 37 December 4th 04 08:53 AM


All times are GMT +1. The time now is 03:30 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 CollectingBanter.
The comments are property of their posters.