How many of the coins “in circulation” were actually in circulation? 1.2 billion were minted that first year, but how many of them ever touched the hands of a consumer?
There are 1.4 billion just sitting in the Fed’s vaults right now, because banks aren’t buying them because retailers aren’t buying them. I don’t think individual consumer behavior has much to do with it.
I got a bunch to hand out to grandkids last Christmas. Most wanted to exchange them for quarters. :rolleyes:
Edit: Rolleyes because they proposed a *1 for 1 *exchange.
Step 1: Give dollar coins to grandkids.
Step 2: Exchange dollar coins for quarters, 1:1.
Step 3: [del]Profit![/del]Cut losses by 25%!
Whenever I go into a bank, which is extremely rare, I ask for a roll or two of dollar coins and every $2 bill they have sitting around.
I asked about ordering a pile of $2 bills, but the lady at the bank wasn’t sure how to do that.
He pays more than a dollar for them?! My bank always has them. How much does he pay I’ll be happy to sell him hundereds for a bit over a dollar apeice.(shipping not included)
Over the years I’ve gotten two from circulation.
Strange. My small local bank gets them without problem.
I lay in a supply at Halloween time, to hand out in place of candy (which I don’t like to buy, because I’ll end up eating the leftovers). The (rather few) kids that come seem happy to receive 2 of these, though explanation is sometimes needed.
I use them all the time - get them from the commissary and the credit union. I never notice the weight or bulk unless I’m carrying over a dozen, and one of the many points in their favour is that I’ve never had a vending machine refuse to accept one.
Uh? I thought the whole point was that it’s cheaper than maintaining and replacing as needed the equivalent number of small-value bills over the same period. It’s cheaper if you do a complete replacement of fast-wearing bills with coins. Your quote doesn’t seem to address that at all.
Thanks! I always wondered how to pronounce that. “Sackie” for the coin is so much easier. Pity the Presidential Series kind of derailed that slang.
Step 4: Cut losses by another 50% because… math.
Enjoy,
Steven
I had twenty of the birdwoman coins. I have no idea where they are.
FWIW, the dollar coins are very much in use in Ecuador, which dollarized its whole economy in the year 2000. People there are very happy to use the coins, which circulate there without problems (the only currency still minted in Ecuador itself are their own 1-cent --or “1 centavo”-- coins).
I guess that a portion of those dollar coins that are currently stored in some warehouse will find their way to Ecuador for a life of fruitful circulation ^.^
Oh, I forgot: El Salvador also uses the US dollar as currency (it was adopted in 2001), and the 1-dollar coins also circulate there without problem.
Them’s Alcatraz Dollars.
Last time I was in Boston they didn’t use tokens anymore. They’d switched over to pass cards. I’m sure by the next time I make it back everyone will just wave their cell phones at the turnstiles.
As for dollar coins, I use them to pay off golf bets.
Maybe I work in the only building in America with an active economy largely based on US dollar coins? It’s a state office building, and in the caff there’s a bill changer machine that breaks five and ten dollar bills into dollar coins, which we then use in the food and drink vending machines.