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#21
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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
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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
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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
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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
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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
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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
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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 |
#28
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On Sun, 16 Nov 2003 18:17:02 -0600 (CST), (Ami .)
wrote: moan! Just what we need, recycled coin designs! Well, if Saint-Gaudens can be recycled, the Liberty Bell should get another day in the sun, too!! I was thinking more of a recycled dead president! Padraic. la cieurgeourea provoer mal trasfu ast meiyoer ke 'l andrext ben trasfu. |
#29
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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
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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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