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totalcount
Penny Sorter Member


USA
77 Posts

Posted - 08/10/2010 :  10:52:37  Show Profile Send totalcount a Private Message
Why the US keeps minting coins people hate and won't use
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Armoured car carriers and banks will not stock the coins until they are in greater use; banks still see the coins as collectors' items, not money that consumers will use.


I use them on a regular basis and have never had them rejected, but my bank certainly views them as for collectors, indeed, even some of the cashiers I give them to buy them out of the till.

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USA
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dakota1955
1000+ Penny Miser Member



2212 Posts

Posted - 08/10/2010 :  11:09:48  Show Profile  Send dakota1955 a Yahoo! Message Send dakota1955 a Private Message
we all know this is true
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fb101
Administrator



USA
2856 Posts

Posted - 08/10/2010 :  11:26:46  Show Profile Send fb101 a Private Message
This is true, we ought to drop the $1 bill.
Nobody likes to carry 20 of them, so you either dump(spend) them or turn them in for bigger denominations. It would be the same with the coins.

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Cerulean
Penny Hoarding Member



USA
993 Posts

Posted - 08/10/2010 :  13:27:25  Show Profile Send Cerulean a Private Message
quote:
Originally posted by fb101

This is true, we ought to drop the $1 bill.

I agree unconditionally.

quote:
Originally posted by fb101

Nobody likes to carry 20 of them, so you either dump(spend) them or turn them in for bigger denominations. It would be the same with the coins.

Also true. Who carries twenty $1 bills right now? Nobody.

I've got eleven dollar coins in my pocket right now, and my car keys are still more annoying.

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Spikeanator6982
Penny Sorter Member



USA
99 Posts

Posted - 08/11/2010 :  01:22:01  Show Profile Send Spikeanator6982 a Private Message
I love using the $1 coins. I have even been spending the halves I sort through instead of trying to dump them. its not hard to carry $5 in halves and $5 in $1 coins at all. I vote drop the bill! Stop making new ones now and the supply of the bills will slowly drop from around 2 years until people have to use the coins.

I'm not really sure why everyone always says the bills only last like 22 months, its not at all uncommon to get a 1995, 2003, 2006, etc $1 bill here still, I even got a 1988 one today and it still looks good. The only explanation I can think of for this is these bills haven't been circulated much yet, which means we have too many $1 bills being printed every year.
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totalcount
Penny Sorter Member



USA
77 Posts

Posted - 08/12/2010 :  06:01:22  Show Profile Send totalcount a Private Message
quote:
Originally posted by Spikeanator6982



I'm not really sure why everyone always says the bills only last like 22 months, its not at all uncommon to get a 1995, 2003, 2006, etc $1 bill here still, I even got a 1988 one today and it still looks good. The only explanation I can think of for this is these bills haven't been circulated much yet, which means we have too many $1 bills being printed every year.



22 months is just an average, some bills last much longer and some bills wear out much sooner. Lots of bills get put somewhere and forgotten about for years at a time.


I spend lots of dollar coins and half dollars too. The biggest problem I have is that dollar bills tend to stack up (if something costs $17, I just give a twenty, too much hassle to give a $20 and two dollar coins.)
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