Okay, I know that the dollar coins have been out for some time and can be had at the bank or in change from a postal or transit machine. My question is when (if ever) will the dollar coin come into common usage? What’s the point of introducing a new coin (very similar to the old SBA dollars) if they are going to be used (or rather NOT used) just like the old SBA dollars?
After spending time in Europe and Canada, I miss having large-denomination coins in circulation. What’s the problem here? Americans are just stubborn? I thought I had heard that the paper dollar was going to be discontinued eventually. Any idea if this is true?
IMHO, the US treasury turned itself into the Franklin Mint on this one. They tried to make a dollar coin that would “stand out” from other coins. This they did, but with the opposite effect. The different coin is so different that it is more of a collector’s item than a viable currency. (that and stores don’t want them because their cas registers only have spaces for pennies, nickels, dimes, quarters and half dollars. OK, I just made that last part up.)
The U.S. government is very bad about putting wierd money in circulation an letting it fail as a viable circulating currency. True story, I went to pay a parking garage attendant last week and the bill was $1.50. All I had was several $20 dollar bills. She did not have change and was going to have to leave her post for several minutes while she got some. However, I realized that I could tap my stash of $2 bills that I keep in my wallet to make things work. She was thrilled that I gave her a bill that she hadn’t seen in years even though they are still made.
The U.S. Treasury still makes:
$2 Bills
$50 Bills
The Mints make
$1 coins and probably several other wierd things that you will never see.
They simply don’t have the guts to have these currencies go into common circulation.
Just picked up a roll of the golden dollars today, actually…
I love the things, think they’re pretty handy. I agree that they won’t see common usage until the government either stops producing the paper money or someone gives some pretty big incentive to using the golden dollar (e.g. they begin to be accepted in vending machines and parking meters commonly enough to not worry about losing your money in one).
Also, Spritle, I realize you said you made that part up, but who uses half-dollars anymore?
Most cash registers today have a hole which can be used for half dollars. We do it in our coin shop. Pass 'em out like water. People fall into two categories. The ones who say “can I get some more” and those who pass the half back and ask for two quarters.
Most cash registers could handle a dollar coin if they didn’t use the half bucket. But, those who have posted that it won’t work until they withdraw the dollar bill are correct.
The US Mint has turned into a “Big Business” entity in the last five years or so. They make things which make them a profit. They don’t do things because they are “the right thing to do.” YGTDMV.*
at the gas station where i work part-time, we get a couple every few weeks or so.
the problem is that people seem to think “oooh! a dollar coin! it must be collectible! i must get some and hoarde them like umpteen millions of other people!” thus ensuring that while a lot of people have dollar coins, most of them aren’t using them.
although the walmart nearby has pop vending machines outside that accept the dollar coin (and say so with a bright sticker), so maybe people will actually use them now.
While I know it is a little hard to figure out which machines will actually take them, the alloy for the Sacajawea dollar was specifically designed to create the same ‘signature’ as the Susan B. Anthony when scanned in machines – so, any machine that will accept the old dollar coins will accept the new ones. If only the ones that do actually mentioned it, it’d be good (cause it some point it’ll be nice to be able to put a $5 in any machine for something that will cost $1.50 or more, and get coins back).
By the way zweisamkeit, welcome to the boards. I like the user name.
Hey, where’s my welcome? I recently discovered you guys and have come to the conclusion that Dopers kick ass.
I actually used one in a machine the other day (Coke machine at a rest area). The only reason I had the damn thing to begin with though was because my roommate had given me the one he had been saving since his mom gave it to him… which leads creedence to the hoarding theory.
My german is very rusty… zweisamkeit means two of… something?
I know splitting hairs is something of a specialty around here, but by “in circulation” I meant “widespread circulation”. I have yet to receive one in change from anywhere, even at Safeway where they have (had) a sign by the till proudly claiming to stock the damn things… with their automatic change dispensers and all… so one day I asked the cashier what’s up with that and he picks up a roll of dollars from his drawer and says “see?”.
My mother saves every “gold” dollar she gets in a little cushioned jewelry box. But she does this only to keep them from tarnishing so she can give them to the neighbor kids as shiny coins for birthday presents (more than one; she’s cheap but not THAT cheap) or payment for small chores.
To put things in perspective, if everyone in the country hoarded four of these dollar coins, that’s over one billion dollars effectively taken out of circulation. And on a similar note, if everyone saved one of each of the state quarters, that would be around $3.5 billion lost.
As is mentioned in every damn one of these golden dollar threads,* they are pretty common in the NYC area because the machines that sell train tickets and Metrocards give them as change.
I have spent many a golden dollar here in NJ, and no cashier has ever given them a second look. But I’ve never received one in change from a (human) cashier.
Come to think of it, I work in a store, but ring relatively few cash transactions. But I don’t think I’d try and give a golden dollar as change–for the same reasons as I don’t give $50s as change, either. People don’t seem to like getting a $50. They prefer multiple $20s. It’s easier to just give them $20s if I have them than to have to re-make the change when they ask if they can have $20s instead. (I hope that made sense.) The point is moot, anyway, since I probably ring no more than 10 cash transactions a day, and have yet to run into a golden dollar at work.
What I am trying to say is that cashiers probably don’t give them out if they have them, because many customers object to “weird” money. So they opt to make the most inoffensive change that they can.
zweisamkeit is a sort of pun. einsamkeit is solitude or loneliness (together in ones, i believe). so switch the eins for zwei and ponder the deep meanings! heh heh
oh, and uh… some on topic things… ::: ahem ::: i went to walmart a bit ago and saw someone paying for candy with a dollar coin. so at least one more dollar has entered circulation.
I recently discovered you guys and have come to the conclusion that Dopers kick ass.
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