Yes, they're at it again! In their infinite wisdom, the Treasury Dept will make yet another attempt to issue $1 coins. (U.S. mint pushes new $1 coin) The plan is to issue 4 different faces per year until each president shows up on the coin.
"We think Americans are going to want to collect the series, and that will drive the coins through the economy," said U.S. Mint Director Edmund Moy.
I'm guessing Edmund got his Phd from James Madison High University, so Edmund, I only minored in Business Administration but let me explain a few principles I learned in my business classes.
1. Collectors do not circulate coins. Collectors collect coins, that's why they are called collectors.
2. Susan B. Anthony and Sacagewea were not the 1st and 2nd attempts at a $1 coin. In my short lifetime, I witnessed both the Eisenhower dollar and the bicentenial dollar (another hot collector's item). In fact, the US Silver Dollar dates back to 1804. You could put Jenna Jamison on the coin and it will still fail.
3. Changing the shape (Susan B. Anthony) or size or color will, likewise, not improve circulation. The bottom line is: penny, nickle, dime, quarter. It is frustrating enough digging through a pocketful of change and having to distinguish between a penny and a dime. Adding more coins to the mix will only add to the confusion.
4. The unrealistic hope that a $1 coin will go like wildfire as prices in vending machines continue to rise, is only further complicated by adding yet one more variation of the $1 coin. As long as a vending machine takes a paper dollar, manufacturers are not going to bother with coin mechanisms that have to distinguish 4 different $1 coins in addition to all of the other change. If I can accomplish with 4 standard quarters what I could with a $1 coin, I'm going to use the quarters just to be safe.
5. Real men don't carry coin purses. When the Treasury Dept can figure out a clever way to put a $1 coin in my wallet, I'll think about using them.
6. Just as an aside here, what happens in 2020 when we've used up all of the Presidents?
"I don't need change baby, I need folding money" - Lynyrd Skynyrd.
6 comments:
I like our 1$ and 2$ coins up here in Canady. We's calls them the loonie (cuz thar be a loon on one side) and the toonie.. I dunno. I like 'em.
i just knew some crazy canuck was going to come back at me with the loonies and toonies. i actually have a bit of experience with canadian currency because i once had a lot of friends in Alberta. I've heard mixed feelings about them. I think it has as much chance of catching on down here as the metric system does.
What's the fucking problem with coins? They last longer, they're shiny and they're still MONEY....
they do last longer, i'll give them credit for that. Excuse the macho bullshit but men do NOT carry coinpurses. I carry the folding money that will stay nicely in my wallet. Coins suck.
I HATE the Precious Moments crap. Hate it. If I could get away with it, I'd drop every single one I find. EVER. Including the ones yet-to-be-sold in the stores.
I hate pointless "cute" crap. I don't DO cute, and I don't DO perky. And for these reasons, I despise Katie Couric. ha.
The strange thing about coins is, you never truly realise how much cash you actually have. I dumped out all my coin one day and had about $26. Seriously, it's like found money. But not really.
And I'd like to kick the person who invented the Precious Moments shit right in the twat and/or penis.
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