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How do I approach my currency revamp issues?



 
 
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  #1  
Old March 20th 08, 11:45 AM posted to rec.collecting.coins
[email protected]
external usenet poster
 
Posts: 123
Default How do I approach my currency revamp issues?

Okay,

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)

First:

What am I most likely going to get done:

1. Redesign of the half dollar?

2. Redesign of the $2 bill?

3. Issuance of $200 bills?

4. Reissue of the $500 bill?

5. Reissue of the $1,000 bill?

6. Issuance of a $200 bill, and reissue of the $500 bill?

7. Reissue of the $500, and $1,000 bills?

8. Issuance of a $200 bill, and the reissue of the $500 and $1,000
bills?

Pros:

1. Redesigned half dollar:

May circulate better, if redesigned smaller, lighter, and it possibly
working in vending machines. May cause people to realize that half
dollars are still minted, and are not rare collectibles, and may cause
people to use the 50 cent denomination more regularly, as a redesigned
smaller, lighter coin. A widely circulating half dollar coin could
save the government money, by cutting quater dollar minting, in half.
A smaller half dollar coin would save money on the metals used to mint
the coin, as did the smaller $1 coins that were issued after the
larger Eisenhower dollar coins. Numismatic items featuring the new
half dollar, would gain the government money, from coin and currency
collectors.

2. Redesign of the $2 bill:

Many people do not think that $2 bills are still being issued, and
thus, hoard any $2 bill they come across. A new colorized $2 bill may
lead some of these people to spending their $2 bills when they see
that the $2 denomination is still being printed, and that $2 bills are
not rare collectibles. May help curb counterfeiting even further, with
the proper security features added to the $2 bill. A widely
circulating $2 bill could help cut the printing costs of the $1 bill
in half. A widely circulating $2 bill could help pave the way for the
$1 coin replacing the $1 bill, and eventually, the $2 denomination
with a coin, as well. Numismatic items feauring the new $2 bill, would
gain the government money, from coin and currency collectors.


3. Issuance of $200 bills:

May help people deal with inflation better when purchasing large and
expensive items. May help speed up transactions. May help the U.S.
compete with the Euro, to gain money from people storing U.S. $200
bills, over 200 Euro notes. May help people who want cash loans,
instead of checks. Could cut the government's price of printing $100
bills in half. Could also help make change for larger denominations,
should there be any denomination over the $200 bill, reissued. May
help banks, that still deal with large ammounts of cash, today. May
have a good use in Casinos and for other gambling related prizes to be
awarded. Numismatic items featuring the new $200 bill, would gain the
government money, from coin and currency collectors.

4. Reissue of the $500 bill:

May help people deal with inflation better, and even easier to use
cash, than the new U.S. $200 bills alone. May help speed up
transactions. May help the U.S. compete with the 500 Euro notes, by
people storing U.S. $500 bills instead. May further cut back on the
U.S. having to print $100, and $200 bills, cutting the government's
currency printing costs even further. May help people who want cash
loans, instead of checks. May help banks that still deal with large
ammounts of cash, today. May have a good use in Casinos and for other
gambling related prizes to be awarded. Numismatic items featuring the
new $500 bill, would gain the government money, from coin and currency
collectors.

5. Reissue of the $1,000 bill:

May help people buying even larger and more expensive items (houses,
cars, jewelry, appliances, electronics, etc.) by making carrying cash,
more convenient. May help speed up transactions. May help people who
want cash loans instead of checks. May help the U.S. dollar compete
with the Euro even further, being a denomination worth more than a 500
Euro note, and thus prefered even more, as an even more convenient
store of wealth. May cut back, alot further, the printing costs of
$100, $200, and $500 bills. May help banks that still deal with large
ammounts of cash, today. May have a good use in the Casino industry
and for other gambling related prizes. Numismatic items featuring the
new $1,000 bill, would gain the government money, from coin and
currency collectors.

Cons:

1. Redesigned half dollar:

May be seen by the general public, as a collectible, and hoarded,
rather than spent. May not work in some vending machines. May be too
easily mistaken for a quarter, nickel, or penny, and thus people would
not like it. People may not want to change their habbits, of not
spending and accepting halves. Vendors may not want to retool their
machines to take new half dollars. May not have a space for halves in
some cash regesters.

2. Redesign of the $2 bill:

May be seen as a collectible, and hoarded, rather than spent. Is not
counterfeited widely enough for the government to want to redesign,
add colors, or security features the the $2 denomination. May cause
people to confuse bleached $2 bills as fake $5 bills, with real $5
bills, should the $2 and $5 bills's designs and their new security
features seem too similar. People just may not want to change their
habbits of not spending $2 bills. No place for them in some cash
regesters. Vendors may not want to reprogram their machines to take
new $2 bills.

3. Issuance of $200 bills:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose more money. May help drug dealers. May help money
launderers. May cause more muggings, should people see someone carying
one. The government would have to add a few more, and more costly
security features to this larger denomination. There are already fake
George W. Bush $200 bills, which may cause people to try to spend
these fakes, and people who have not seen of heard of these fakes
might think that it is the "real" $200 bill, or they might think that
the George W. Bush $200 bill IS just plain real currency, and some
people who know that the George W. Bush fake $200 bills is fake, and
has never heard of the new $200 bill, may regard a real $200 bill as a
fake as well, and not accept the real $200 bills. Losing a $200 bill
would be a pretty big disaster, and may hurt the person's bank
account, or savings. Stores may not want to deal with such a large
denomination, for fear of getting robbed, or that they may end up with
a counterfeit.


4. Reissue of the $500 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $500 bill would be a huge disaster, and
may hurt the person's bank account, or savings. Stores may not want to
deal with such a large denomination, for fear of getting robbed, or
that they may end up with a counterfeit.


5. Reissue of the $1,000 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $1,000 bill would be a major disaster,
and may hurt the person's bank account, or savings. Stores may not
want to deal with such a large denomination, for fear of getting
robbed, or that they may end up with a counterfeit.


So, next question, and final question:

How should I word these issues, if I go after one of them? How do I
"shorten" the letters?

I'd prefer that, should you suggest I go after the $500 bill, though,
that I go after $200 and $1,000 bills, as well, at the same time,
while on the subject of large denominations, rather than trying to
convince Cogress to go for three seperate large denominations, on
three different ocassions. I DID read somewhere once, that a couple
decades ago, some guy wrote to Congress on bringing these
denominations back, including a $1,000 bill, and there were a few
Senators interested in the idea. And I saw the article over a decade
ago. So I don't see why I can't propose the same idea with all three
large denominations at once, now, but suggest one denomination to be
issued at a time, over a course of one denomination per year, over
three years (much like the redesigned current currency denominations
are being issued, one yearly), to give the Treasury time to design,
and to prepare the public with $200 bills, then $500 bills, and
finally, $1,000 bills.

My main priorities are the $2 bill redesign, and the issuance all
three of the large denominations, I propose. That leaves the
redesigned half dollar coin, on the back burner. But I'd still like to
push for it some day.

So, redesigned $2 bill? Or, new $200, $500, and $1,000 bills?

Ads
  #2  
Old March 20th 08, 12:59 PM posted to rec.collecting.coins
Dave Hinz
external usenet poster
 
Posts: 1,538
Default How do I approach my currency revamp issues?

On Thu, 20 Mar 2008 03:45:40 -0700 (PDT), wrote:
Okay,

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)

First:

What am I most likely going to get done:


Hang on a second. I've seen your posts and I see a lot of solutions but
I haven't seen a clear problem statement, to be honest. Your answers
seem well thought out and so on but I'm not getting the "Why should we
do any of this" part.

That said, I like half dollars just the way they are, thank you, where I
can find free silver in circulating coins.

1. Redesign of the half dollar?


Please don't. Not until I'm done with 'em anyway.

2. Redesign of the $2 bill?


Nobody uses 'em.

3. Issuance of $200 bills?
4. Reissue of the $500 bill?
5. Reissue of the $1,000 bill?


We could call 'em US Inflation Dollars, work our way to the 5,000,
100,000, and eventually just stamp the older ones with an extra 3 zeros
when things keep going up.

What I'm saying is, that may give the public a feeling of rampant
inflation when we really don't have anything of the kind. Also keep in
mind the government doesn't like untaxable, untraceable cash
transactions. Anything making large ones easier is in direct conflict
with their motivation.
  #3  
Old March 20th 08, 02:14 PM posted to rec.collecting.coins
Michael Benveniste
external usenet poster
 
Posts: 146
Default How do I approach my currency revamp issues?

wrote:

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)


All but one of your justifications begin with the word "may," and
the $2 bill paragraph uses the modifiers "may" and "could" twice
each. A claim of what the benefits "may" be is useless to a policy
maker. At best, you're asking your Congresscritter to weigh
possible benefits against certain costs. Not only that, but you
don't even hint at any specific political gain for the
Congresscritter.

Any real attempt to influence policy has to not only address
but also refute or minimize the downsides. As written, you let
the "cons" have the last word, and as a result the read comes
away with the impression you oppose each of these ideas.

cynicism
The most effective way to influence legislative policy is to
convince a legislator that championing your cause will get
them relected. The second most effective way to influence
legislative policy is to convince them that it will increase
their power base. The third most effective way is to convince
them that the cause will raise them funds for 1) and 2). Any
other approach is an also ran.
/cynicism

--
Michael Benveniste --
Spam and UCE professionally evaluated for $419. Use this email
address only to submit mail for evaluation.

  #4  
Old March 20th 08, 02:23 PM posted to rec.collecting.coins
scottishmoney
external usenet poster
 
Posts: 240
Default How do I approach my currency revamp issues?

"Dave Hinz" wrote in message
3. Issuance of $200 bills?
4. Reissue of the $500 bill?
5. Reissue of the $1,000 bill?


We could call 'em US Inflation Dollars, work our way to the 5,000,
100,000, and eventually just stamp the older ones with an extra 3 zeros
when things keep going up.

Anything making large ones easier is in direct conflict
with their motivation.


Inflation will have long since taken hold, ie we will be using $100 bills
like $5 bills before the BEP does anything about it. While there is more
cash circulating now than in the past, as a percentage of the amount of
money that exists in various forms, it is actually much lower than before,
and most US$ cash circulates outside of the USA, more than 50%.

Yes, the Fed did issue large denomination notes until 1969, but that was in
an era before electronic transactions, credit cards, instantaneously
clearing cheques etc. And at that most large denomination notes ie $5000
and $10000 stayed in banks in the first place, and most people would have
never seen anything larger than a $100 bill.

The only time I have ever needed to have large amounts of cash were for
going on overseas trips to countries where cash was still predominate. In
the USA that is not the case.


  #5  
Old March 20th 08, 02:34 PM posted to rec.collecting.coins
Hertfordian
external usenet poster
 
Posts: 2
Default How do I approach my currency revamp issues?

wrote in message
...
Okay,

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)

First:

What am I most likely going to get done:

1. Redesign of the half dollar?

2. Redesign of the $2 bill?

3. Issuance of $200 bills?

4. Reissue of the $500 bill?

5. Reissue of the $1,000 bill?

6. Issuance of a $200 bill, and reissue of the $500 bill?

7. Reissue of the $500, and $1,000 bills?

8. Issuance of a $200 bill, and the reissue of the $500 and $1,000
bills?

Pros:

1. Redesigned half dollar:

May circulate better, if redesigned smaller, lighter, and it possibly
working in vending machines. May cause people to realize that half
dollars are still minted, and are not rare collectibles, and may cause
people to use the 50 cent denomination more regularly, as a redesigned
smaller, lighter coin. A widely circulating half dollar coin could
save the government money, by cutting quater dollar minting, in half.
A smaller half dollar coin would save money on the metals used to mint
the coin, as did the smaller $1 coins that were issued after the
larger Eisenhower dollar coins. Numismatic items featuring the new
half dollar, would gain the government money, from coin and currency
collectors.

Whilst trying to come up with some alternative designs for US circulating
currency a few years ago, I tried doing a different sized half dollar coin
and also a circulating 5 dollar coin.

You can see versions of them he http://members.lycos.co.uk/hertfordian/

Would this be more likely to circulate/less likely to be confused with
existing coinage?

Best regards

Hertfordian


  #6  
Old March 20th 08, 02:50 PM posted to rec.collecting.coins
Bruce Remick
external usenet poster
 
Posts: 3,391
Default How do I approach my currency revamp issues?


wrote in message
...
Okay,

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)

First:

What am I most likely going to get done:

1. Redesign of the half dollar?

2. Redesign of the $2 bill?

3. Issuance of $200 bills?

4. Reissue of the $500 bill?

5. Reissue of the $1,000 bill?

6. Issuance of a $200 bill, and reissue of the $500 bill?

7. Reissue of the $500, and $1,000 bills?

8. Issuance of a $200 bill, and the reissue of the $500 and $1,000
bills?


Personally, I doubt you're likely to get any of these proposals done. As
Dave suggests, your justifications are mostly your own opinions and
conjecture. Proposals from large groups of constituants are the ones most
likely to get attention.


Pros:

1. Redesigned half dollar:

May circulate better, if redesigned smaller, lighter, and it possibly
working in vending machines. May cause people to realize that half
dollars are still minted, and are not rare collectibles, and may cause
people to use the 50 cent denomination more regularly, as a redesigned
smaller, lighter coin. A widely circulating half dollar coin could
save the government money, by cutting quater dollar minting, in half.
A smaller half dollar coin would save money on the metals used to mint
the coin, as did the smaller $1 coins that were issued after the
larger Eisenhower dollar coins. Numismatic items featuring the new
half dollar, would gain the government money, from coin and currency
collectors.


IMO, no coin denomination will be readily accepted by the public unless they
receive it routinely in change. It's up to businesses to start the cycle.
Otherwise, consumers essentially abandoned the half dollar years ago on
their own and there's been no interest in making it available again.


2. Redesign of the $2 bill:

Many people do not think that $2 bills are still being issued, and
thus, hoard any $2 bill they come across. A new colorized $2 bill may
lead some of these people to spending their $2 bills when they see
that the $2 denomination is still being printed, and that $2 bills are
not rare collectibles. May help curb counterfeiting even further, with
the proper security features added to the $2 bill. A widely
circulating $2 bill could help cut the printing costs of the $1 bill
in half. A widely circulating $2 bill could help pave the way for the
$1 coin replacing the $1 bill, and eventually, the $2 denomination
with a coin, as well. Numismatic items feauring the new $2 bill, would
gain the government money, from coin and currency collectors.


The public doesn't use currency denominations based on the design. With
your logic, issuing a new colorized $2 bill would encourage even more
hoarding. Like the half dollar, if people began to receive $2 bills in
change, they might become used to using them more.



3. Issuance of $200 bills:

May help people deal with inflation better when purchasing large and
expensive items. May help speed up transactions. May help the U.S.
compete with the Euro, to gain money from people storing U.S. $200
bills, over 200 Euro notes. May help people who want cash loans,
instead of checks. Could cut the government's price of printing $100
bills in half. Could also help make change for larger denominations,
should there be any denomination over the $200 bill, reissued. May
help banks, that still deal with large ammounts of cash, today. May
have a good use in Casinos and for other gambling related prizes to be
awarded. Numismatic items featuring the new $200 bill, would gain the
government money, from coin and currency collectors.


Any bill larger than $100 would not likely have a widespread use in
mainstream, grassroots commerce. Although most folks would probably not
give a thought to carrying five $20 bills, many of the same people might
feel a bit uncomfortable carrying a $100 bill, let alone a $200 or $500.
Even $50 bills don't get that much use today. At the register, bills larger
than a $20 typically go into a security slot and aren't given out in change.


4. Reissue of the $500 bill:

May help people deal with inflation better, and even easier to use
cash, than the new U.S. $200 bills alone. May help speed up
transactions. May help the U.S. compete with the 500 Euro notes, by
people storing U.S. $500 bills instead. May further cut back on the
U.S. having to print $100, and $200 bills, cutting the government's
currency printing costs even further. May help people who want cash
loans, instead of checks. May help banks that still deal with large
ammounts of cash, today. May have a good use in Casinos and for other
gambling related prizes to be awarded. Numismatic items featuring the
new $500 bill, would gain the government money, from coin and currency
collectors.


Psychologically, wouldn't it be easier to deal with inflation if you paid
without using cash? I doubt that handing a clerk a $500 bill would speed up
a transaction. I can't envision how a $500 bill would help banks.


5. Reissue of the $1,000 bill:

May help people buying even larger and more expensive items (houses,
cars, jewelry, appliances, electronics, etc.) by making carrying cash,
more convenient. May help speed up transactions. May help people who
want cash loans instead of checks. May help the U.S. dollar compete
with the Euro even further, being a denomination worth more than a 500
Euro note, and thus prefered even more, as an even more convenient
store of wealth. May cut back, alot further, the printing costs of
$100, $200, and $500 bills. May help banks that still deal with large
ammounts of cash, today. May have a good use in the Casino industry
and for other gambling related prizes. Numismatic items featuring the
new $1,000 bill, would gain the government money, from coin and
currency collectors.


You seem to be touting the $1,000 bill as justification not to need the
lower denominatiuons you just proposed.


Cons:

1. Redesigned half dollar:

May be seen by the general public, as a collectible, and hoarded,
rather than spent. May not work in some vending machines. May be too
easily mistaken for a quarter, nickel, or penny, and thus people would
not like it. People may not want to change their habbits, of not
spending and accepting halves. Vendors may not want to retool their
machines to take new half dollars. May not have a space for halves in
some cash regesters.

2. Redesign of the $2 bill:

May be seen as a collectible, and hoarded, rather than spent. Is not
counterfeited widely enough for the government to want to redesign,
add colors, or security features the the $2 denomination. May cause
people to confuse bleached $2 bills as fake $5 bills, with real $5
bills, should the $2 and $5 bills's designs and their new security
features seem too similar. People just may not want to change their
habbits of not spending $2 bills. No place for them in some cash
regesters. Vendors may not want to reprogram their machines to take
new $2 bills.

3. Issuance of $200 bills:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose more money. May help drug dealers. May help money
launderers. May cause more muggings, should people see someone carying
one. The government would have to add a few more, and more costly
security features to this larger denomination. There are already fake
George W. Bush $200 bills, which may cause people to try to spend
these fakes, and people who have not seen of heard of these fakes
might think that it is the "real" $200 bill, or they might think that
the George W. Bush $200 bill IS just plain real currency, and some
people who know that the George W. Bush fake $200 bills is fake, and
has never heard of the new $200 bill, may regard a real $200 bill as a
fake as well, and not accept the real $200 bills. Losing a $200 bill
would be a pretty big disaster, and may hurt the person's bank
account, or savings. Stores may not want to deal with such a large
denomination, for fear of getting robbed, or that they may end up with
a counterfeit.


4. Reissue of the $500 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $500 bill would be a huge disaster, and
may hurt the person's bank account, or savings. Stores may not want to
deal with such a large denomination, for fear of getting robbed, or
that they may end up with a counterfeit.


5. Reissue of the $1,000 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $1,000 bill would be a major disaster,
and may hurt the person's bank account, or savings. Stores may not
want to deal with such a large denomination, for fear of getting
robbed, or that they may end up with a counterfeit.


Why would someone be likely to carry such large denominations to pay for a
purchase that would result in a significant amount of change? No one will
be apt to have $100, $200, or $500 bills handy to make that change.



So, next question, and final question:

How should I word these issues, if I go after one of them? How do I
"shorten" the letters?

I'd prefer that, should you suggest I go after the $500 bill, though,
that I go after $200 and $1,000 bills, as well, at the same time,
while on the subject of large denominations, rather than trying to
convince Cogress to go for three seperate large denominations, on
three different ocassions. I DID read somewhere once, that a couple
decades ago, some guy wrote to Congress on bringing these
denominations back, including a $1,000 bill, and there were a few
Senators interested in the idea. And I saw the article over a decade
ago. So I don't see why I can't propose the same idea with all three
large denominations at once, now, but suggest one denomination to be
issued at a time, over a course of one denomination per year, over
three years (much like the redesigned current currency denominations
are being issued, one yearly), to give the Treasury time to design,
and to prepare the public with $200 bills, then $500 bills, and
finally, $1,000 bills.

My main priorities are the $2 bill redesign, and the issuance all
three of the large denominations, I propose. That leaves the
redesigned half dollar coin, on the back burner. But I'd still like to
push for it some day.

So, redesigned $2 bill? Or, new $200, $500, and $1,000 bills?


If you're so determined, go for what you feel most emotional about. If it's
the $2 bill, work on that one by itself. Don't overwhelm anyone who might
read your proposals with multiple proposals. If you should somehow be
successful with your first efforts, then take the next one in line and start
over.

Good luck.





  #7  
Old March 20th 08, 03:54 PM posted to rec.collecting.coins
Dave Allured[_2_]
external usenet poster
 
Posts: 1
Default How do I approach my currency revamp issues?

wrote:

snip

Pros:

1. Redesigned half dollar:

May circulate better, if redesigned smaller, lighter, and it possibly
working in vending machines. May cause people to realize that half
dollars are still minted, and are not rare collectibles, and may cause
people to use the 50 cent denomination more regularly, as a redesigned
smaller, lighter coin. A widely circulating half dollar coin could
save the government money, by cutting quater dollar minting, in half.
A smaller half dollar coin would save money on the metals used to mint
the coin, as did the smaller $1 coins that were issued after the
larger Eisenhower dollar coins. Numismatic items featuring the new
half dollar, would gain the government money, from coin and currency
collectors.


It seems that your only real justification for a business strike half
dollar is saving the government money by reducing the demand for
quarters. Do you not believe that the new dollar coin can do a much
better job, saving the government even more money by replacing four
quarters at a time instead of two?

snip

Cons:

1. Redesigned half dollar:

May be seen by the general public, as a collectible, and hoarded,
rather than spent. May not work in some vending machines. May be too
easily mistaken for a quarter, nickel, or penny, and thus people would
not like it. People may not want to change their habbits, of not
spending and accepting halves. Vendors may not want to retool their
machines to take new half dollars. May not have a space for halves in
some cash regesters.


Some cons that you might not have realized:

May be seen by the general public and businesses as mysterious and
complicated, and rejected, rather than spent. May be seen by the
general public and businesses as looking too much like a quarter or a
nickel or a dollar coin, and rejected, rather than spent. May be seen
as causing inflation, and rejected. Businesses may refuse to give them
in change for fear of offending customers. Will increase handling and
accounting costs for an additional denomination. Will increase change
making time at cash registers. Businesses would have to to spend more
money on new cash registers with more coin slots. Vendors would have to
spend more money retooling millions of vending machines nationwide.
These costs would be passed on to customers in the form of higher
prices. The government would have to spend more money on design
committees, tooling, promotional advertizing, and increased complexity
of the distribution system. Will kindle new high profile public debates
on which cute design themes or dead male politicians to feature, and on
the dire ethics of various coin mottos, inducing many good and gentle
numismatists of the finest character to convulse, vomit, and scratch
their eyes out. May retard acceptance of new higher denomination coins
that could have better advantages for the economy.

Quiz: What is a better public policy to pursue?

Hint: See last sentence above.

--Dave
  #8  
Old March 20th 08, 04:55 PM posted to rec.collecting.coins
note.boy
external usenet poster
 
Posts: 2,418
Default How do I approach my currency revamp issues?


wrote in message
...
Okay,

I didn't really want to post on this issue again. But since people
here, were saying my letters to Congress, were too long, I wanted to
ask, how do I approach the issues properly? (I'll ask some questions)

First:

What am I most likely going to get done:

1. Redesign of the half dollar?


Possible.


2. Redesign of the $2 bill?


No chance.


3. Issuance of $200 bills?


Less than no chance.


4. Reissue of the $500 bill?


Even less chance.


5. Reissue of the $1,000 bill?


Even less again.


6. Issuance of a $200 bill, and reissue of the $500 bill?


Ditto.


7. Reissue of the $500, and $1,000 bills?


Ditto.


8. Issuance of a $200 bill, and the reissue of the $500 and $1,000
bills?


Ditto.

The reason being that they won't even dump the one cent coin and $1 note
both of which are far easier to do than follow your suggestions, and are
also zero cost to the government.

I fear that the USA will continue to have an outmoded array of circulating
coins and notes for a long time to come but I hope I'm wrong, and soon.
Billy


Pros:

1. Redesigned half dollar:

May circulate better, if redesigned smaller, lighter, and it possibly
working in vending machines. May cause people to realize that half
dollars are still minted, and are not rare collectibles, and may cause
people to use the 50 cent denomination more regularly, as a redesigned
smaller, lighter coin. A widely circulating half dollar coin could
save the government money, by cutting quater dollar minting, in half.
A smaller half dollar coin would save money on the metals used to mint
the coin, as did the smaller $1 coins that were issued after the
larger Eisenhower dollar coins. Numismatic items featuring the new
half dollar, would gain the government money, from coin and currency
collectors.

2. Redesign of the $2 bill:

Many people do not think that $2 bills are still being issued, and
thus, hoard any $2 bill they come across. A new colorized $2 bill may
lead some of these people to spending their $2 bills when they see
that the $2 denomination is still being printed, and that $2 bills are
not rare collectibles. May help curb counterfeiting even further, with
the proper security features added to the $2 bill. A widely
circulating $2 bill could help cut the printing costs of the $1 bill
in half. A widely circulating $2 bill could help pave the way for the
$1 coin replacing the $1 bill, and eventually, the $2 denomination
with a coin, as well. Numismatic items feauring the new $2 bill, would
gain the government money, from coin and currency collectors.


3. Issuance of $200 bills:

May help people deal with inflation better when purchasing large and
expensive items. May help speed up transactions. May help the U.S.
compete with the Euro, to gain money from people storing U.S. $200
bills, over 200 Euro notes. May help people who want cash loans,
instead of checks. Could cut the government's price of printing $100
bills in half. Could also help make change for larger denominations,
should there be any denomination over the $200 bill, reissued. May
help banks, that still deal with large ammounts of cash, today. May
have a good use in Casinos and for other gambling related prizes to be
awarded. Numismatic items featuring the new $200 bill, would gain the
government money, from coin and currency collectors.

4. Reissue of the $500 bill:

May help people deal with inflation better, and even easier to use
cash, than the new U.S. $200 bills alone. May help speed up
transactions. May help the U.S. compete with the 500 Euro notes, by
people storing U.S. $500 bills instead. May further cut back on the
U.S. having to print $100, and $200 bills, cutting the government's
currency printing costs even further. May help people who want cash
loans, instead of checks. May help banks that still deal with large
ammounts of cash, today. May have a good use in Casinos and for other
gambling related prizes to be awarded. Numismatic items featuring the
new $500 bill, would gain the government money, from coin and currency
collectors.

5. Reissue of the $1,000 bill:

May help people buying even larger and more expensive items (houses,
cars, jewelry, appliances, electronics, etc.) by making carrying cash,
more convenient. May help speed up transactions. May help people who
want cash loans instead of checks. May help the U.S. dollar compete
with the Euro even further, being a denomination worth more than a 500
Euro note, and thus prefered even more, as an even more convenient
store of wealth. May cut back, alot further, the printing costs of
$100, $200, and $500 bills. May help banks that still deal with large
ammounts of cash, today. May have a good use in the Casino industry
and for other gambling related prizes. Numismatic items featuring the
new $1,000 bill, would gain the government money, from coin and
currency collectors.

Cons:

1. Redesigned half dollar:

May be seen by the general public, as a collectible, and hoarded,
rather than spent. May not work in some vending machines. May be too
easily mistaken for a quarter, nickel, or penny, and thus people would
not like it. People may not want to change their habbits, of not
spending and accepting halves. Vendors may not want to retool their
machines to take new half dollars. May not have a space for halves in
some cash regesters.

2. Redesign of the $2 bill:

May be seen as a collectible, and hoarded, rather than spent. Is not
counterfeited widely enough for the government to want to redesign,
add colors, or security features the the $2 denomination. May cause
people to confuse bleached $2 bills as fake $5 bills, with real $5
bills, should the $2 and $5 bills's designs and their new security
features seem too similar. People just may not want to change their
habbits of not spending $2 bills. No place for them in some cash
regesters. Vendors may not want to reprogram their machines to take
new $2 bills.

3. Issuance of $200 bills:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose more money. May help drug dealers. May help money
launderers. May cause more muggings, should people see someone carying
one. The government would have to add a few more, and more costly
security features to this larger denomination. There are already fake
George W. Bush $200 bills, which may cause people to try to spend
these fakes, and people who have not seen of heard of these fakes
might think that it is the "real" $200 bill, or they might think that
the George W. Bush $200 bill IS just plain real currency, and some
people who know that the George W. Bush fake $200 bills is fake, and
has never heard of the new $200 bill, may regard a real $200 bill as a
fake as well, and not accept the real $200 bills. Losing a $200 bill
would be a pretty big disaster, and may hurt the person's bank
account, or savings. Stores may not want to deal with such a large
denomination, for fear of getting robbed, or that they may end up with
a counterfeit.


4. Reissue of the $500 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $500 bill would be a huge disaster, and
may hurt the person's bank account, or savings. Stores may not want to
deal with such a large denomination, for fear of getting robbed, or
that they may end up with a counterfeit.


5. Reissue of the $1,000 bill:

May be hard to make change for such a large denomination. May
encourage counterfeiting. Would cause anyone caught with a
counterfeit, to lose alot more money. May help drug dealers even
further. May help money launderers even further. May cause more
muggings, should people see someone carying one. The government would
have to add a alot more, and more costly security features to this
larger denomination. Losing a $1,000 bill would be a major disaster,
and may hurt the person's bank account, or savings. Stores may not
want to deal with such a large denomination, for fear of getting
robbed, or that they may end up with a counterfeit.


So, next question, and final question:

How should I word these issues, if I go after one of them? How do I
"shorten" the letters?

I'd prefer that, should you suggest I go after the $500 bill, though,
that I go after $200 and $1,000 bills, as well, at the same time,
while on the subject of large denominations, rather than trying to
convince Cogress to go for three seperate large denominations, on
three different ocassions. I DID read somewhere once, that a couple
decades ago, some guy wrote to Congress on bringing these
denominations back, including a $1,000 bill, and there were a few
Senators interested in the idea. And I saw the article over a decade
ago. So I don't see why I can't propose the same idea with all three
large denominations at once, now, but suggest one denomination to be
issued at a time, over a course of one denomination per year, over
three years (much like the redesigned current currency denominations
are being issued, one yearly), to give the Treasury time to design,
and to prepare the public with $200 bills, then $500 bills, and
finally, $1,000 bills.

My main priorities are the $2 bill redesign, and the issuance all
three of the large denominations, I propose. That leaves the
redesigned half dollar coin, on the back burner. But I'd still like to
push for it some day.

So, redesigned $2 bill? Or, new $200, $500, and $1,000 bills?



  #10  
Old March 21st 08, 04:03 PM posted to rec.collecting.coins
Padraic Brown
external usenet poster
 
Posts: 491
Default How do I approach my currency revamp issues?

On Thu, 20 Mar 2008 13:34:54 GMT, "Hertfordian"
wrote:

Whilst trying to come up with some alternative designs for US circulating
currency a few years ago, I tried doing a different sized half dollar coin
and also a circulating 5 dollar coin.

You can see versions of them he http://members.lycos.co.uk/hertfordian/


Neat designs. I don't like face-on designs for coins. They never look
good in real life (too flat).

Would this be more likely to circulate/less likely to be confused with
existing coinage?


We see enough codgers in this NG complaining about the excessive
weight of dollar coins and their similarity in size to quarters (even
though there is a marginal difference in weight as compared with face
value, *and* there is more a difference between those two than the
size difference between the quarter and nickel) that there will
undoubtedly be complaints of some sort. Probably these same codgers
will begin complaining that the new 50c coins are too easy to confuse
with the old 3d pieces and the new $5 are too much like the old
Jamaican dollar coin and will therefore refuse to use them.

*Perhaps* if you made the coins in purple anodised titanium, you might
not get so many complaints! But then, they'd just complain that the
purple colour is too dark!

Cheers,
Padraic


Best regards

Hertfordian


--
Posted via a free Usenet account from http://www.teranews.com

 




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