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Getting the Public to Use Half Dollars and Dollars



 
 
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  #21  
Old November 17th 03, 02:14 AM
Steve Okonski
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Padraic Brown wrote:

On Sun, 16 Nov 2003 17:22:06 -0500, Steve Okonski
wrote:

Ami . wrote:

What are your ideas on getting the public to widely use half dollar and
dollar coins in everyday transactions?


The designs don't matter, the utility does.

Or, make use of Gresham's Law and give the other denominations some
real value by adding silver and copper, and suddenly people will
gladly spend the halves and dollar coins.


Um. How will that work? There are plenty of silver halves out there
now that no one spends. Dollars too. Not to mention all those eagles
and fractions.


Exactly. Coins with real metal value will be saved. Since halves and
dollars would still have their clad, token value, they would be spent
instead. Totally capricious idea, of course, but it would get more
halves and dollar coins to circulate. As history has shown, 40%
silver halves proved a very effective way to get people to circulate
the *other* coins.
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  #22  
Old November 17th 03, 02:18 AM
Steve Okonski
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Ami . wrote:

The designs don't matter, the utility does.

I think the design on a coin does matter. Take a look at the Susan B.
Anthony dollar. People complained that its an "ugly" coin as well as
rejected it because it was too easily mistaken for a quarter.

Also, people complain that the Sacagawea dollar design appears to have
been based on a Disney cartoon.


Two different designs, still doesn't circulate. Third time's a
charm? I doubt it.

Instead if the mint stamped "$1" on an otherwise blank planchet, and
sold them for 50 cents, and people would be banging down the doors to
get them.
  #23  
Old November 17th 03, 02:25 AM
Bruce Remick
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Ami . wrote:
Changing the designs would only encourage hoarding by the public. It
will have no effect whatsoever on whether or not businesses order the
coins to use in regular transactions, which is an inherent cause of
these coins NOT circulating.

Yes, I agree there would be initial hoarding, but that would taper off
in a year or so.

I think there would be lines of people at banks asking for Kennedy
Golden Dollars and MLK Halves, particularly in large urban cities. Banks
in those large urban cities would likely jump on board and support the
coins to keep their customers happy.

John Q. public doesn't look at the designs on his coins when he receives
or spends them. Who or what is depicted on a particular coin has no
effect on whether the public will find that coin comfortable to use.
The half is dead. There are half dollars available if anyone wanted to
use them, but there are few vending machines that will accept them and
no one gives them in change anymore. Put Kennedy or King on a dollar
"token" and tons will sit in vaults just like the Sac's and SBA's.
People who especially admire MLK or JFK probably already have a picture
of them on the wall and that works just fine.

Bruce


  #24  
Old November 17th 03, 02:33 AM
Bruce Remick
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Ami . wrote:

I think the dollar coin should copy the British One Pound coin. It's a
small, thick little fella, and cannot be mistaken for anything else.

That would mean every soda vending machine, candy and ice cream machine,
coin laundry, coin car wash, coin telephone, bubble gum machine etc. in
the U.S. would have to be modified.

The obvious solution is to adapt every coin-op machine to take only
pennies. That way changes would rarely have to be made to the mechanism
and there would never be a need to dispense change. People would warm
to the cent again, return the contents of their piggy banks to
circulation, and enjoy that $1.50 Diet Coke more because of the work
they had to go through to get it.

Bruce

  #25  
Old November 17th 03, 02:40 AM
Bruce Remick
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Ami . wrote:

The designs don't matter, the utility does.

I think the design on a coin does matter. Take a look at the Susan B.
Anthony dollar. People complained that its an "ugly" coin as well as
rejected it because it was too easily mistaken for a quarter.

Also, people complain that the Sacagawea dollar design appears to have
been based on a Disney cartoon.


What's unatractive about Disney cartoons? What about the Kennedy half?
I can't recall, people ever calling it ugly. See one lately? I
don't think the quarter and dime are particularly attractive, but I
blindly use them because they're dimes and quarters. We could put an
ivory cameo Mona Lisa on the dollar, people would comment pro and con
for a few months, and then they'd go back to ignoring it.

Bruce

  #26  
Old November 17th 03, 02:47 AM
Bruce Remick
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Bob Peterson wrote:

how about we just eliminate the half altogether since it is almost totally
unused in commerce except by some casinos.

tweaking the pictures on the coins is not a good idea. even though both are
bad choices IMO, the current design of the $1 coin should remain the same,
just for continuity. you can't keep changing it hoping that someone will
decide to use it because of a new face. it just ain't gonna happen unless
they remove the $1 FRN from circulation, and the cost of that would be very
high.

The bureaucrats who are projecting a high cost of ending dollar bill
production are probably the same ones who recommended the economic merit
and utility of producing the dollar coin. Kill the dollar bill. If
that turns out to be a calamity, crank up production again. No big
deal. Lesson learned. Otherwise, I have no faith in our government
projections and estimates lately.

Bruce

  #27  
Old November 17th 03, 03:37 AM
Bob Flaminio
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Ami . wrote:
What are your ideas on getting the public to widely use half dollar
and dollar coins in everyday transactions?

We would then have MLK Halves and Kennedy Golden Dollars.


Not a chance. The only way to get the public to use dollar coins is to
discontinue the rag buck. The actual design is irrelevant. The Sackie
has a good size, color, and edge; but without the elimination of rag
bucks, it will always be a "niche" coin.

The half dollar is a hopeless cause. Most vending machines don't even
have slots big enough to accept them. My idea for the half is to
discontinue JFK, and make the half a circulating commemorative, with the
design changing every year. For example, this year it would be the First
Flight coin -- rather than just releasing them in mint sets, release
them to circulation as well. (They are CuNi clad, after all.) Sure, they
won't *really* circulate, but then -- neither does the JFK.

--
Bob


  #29  
Old November 17th 03, 03:45 AM
Padraic Brown
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On Sun, 16 Nov 2003 23:44:16 GMT, "DyzeeGF3"
wrote:


"Bob Peterson" wrote in message
...
forget the 50 cent idea. stick to a single coin for change. much less
hassle to have just one coin for change.


Can you explain why?


Yeah, if everything is to end up in 25c increments, you'd certainly be
eliminating dimes, nickels and pennies. I don't see any particular
reason to use halves, as it would be much easier to obtain sufficient
quarters; but neither is there a really logical reason to not use them
either. Except for the supply question. On the plus side, you'd get
people talking about your place of business. Perhaps if the change due
were 50c even, it might be suitable to use halves. I'm not sure if
your business could get enough to last long.

I agree that it would be sensible to use dollar coins in stead of
rags. Easier for everyone to handle, especially you guys giving
change. Not so sure about introducing $2 notes, though.

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.
  #30  
Old November 17th 03, 04:04 AM
Joe Fischer
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On Mon, "DyzeeGF3" wrote:

I don't see any particular
reason to use halves, as it would be much easier to obtain sufficient
quarters; but neither is there a really logical reason to not use them
either. Except for the supply question. On the plus side, you'd get
people talking about your place of business. Perhaps if the change due
were 50c even, it might be suitable to use halves. I'm not sure if
your business could get enough to last long.


Is there a supply question? Federal Reserve banks have ample supplies of
half dollars, don't they? Couldn't the bank that my theatre uses order as
many boxes as needed?


But why? Because you thought it would be neat to do,
or "efficient"?

It is a basic fact in numismatics that a coin should have
as much utility as possible, the half-dollar has only one facet
of utility, that of taking the place of two quarter-dollars.

The quarter has extreme utility not only because it
can be used to make change, but because all existing vending
machines accept them.

The half-dollar has about the same weight of two quarters,
but almost no utility at all, making it totally worthless with existing
vending machines, and worth very little in making change.
The only gas station in town here ran short of change
over a long weekend, and I had a box of halves plus my
usual pocket change jar full of quarters, dimes and nickels.

I sold them all the quarters and dimes, and offered them
as many rolls of halves as they want, and they refused them.

After finishing your draft, start on a resume, you may
need it after you present the rounding proposal. :-)

Joe Fischer

 




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