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How do I approach my currency revamp issues?



 
 
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Old March 20th 08, 10:45 AM posted to rec.collecting.coins
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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?

 




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