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Why does the Mint keep pumping out $1 coins when few are buying in?
WASHINGTON POST ^ | 20 AUGUST 2010 | Michael Zielinski

Posted on 08/20/2010 8:54:23 PM PDT by Extremely Extreme Extremist

How many $1 coins have you seen in circulation?

Since the Presidential $1 Coin Program launched in 2007, I have received just one during a commercial transaction. The cashier apologized profusely while passing me a tarnished coin bearing a likeness of John Quincy Adams. She told me she just wanted to get rid of it.

The Presidential $1 Coin Program is the federal government's latest attempt to create a circulating $1 coin. To give the series the best possible chance of success, the authorizing legislation provided numerous measures to increase awareness and remove barriers to circulation.

(Excerpt) Read more at washingtonpost.com ...


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To: Tagurit
I’m sure they cost a lot more to produce

12 cents for a coin, 3 cents for a bill. Coins last longer. Cheaper in the long run.

51 posted on 08/20/2010 9:35:02 PM PDT by Mojave (Ignorant and stoned - Obama's natural constituency.)
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To: muawiyah

Keep in mind as the price goes over a dollar for vending items the cost of retrofitting these machines to supply change for a five is not cost feasible. A central machine to give out coin is much cheaper.


52 posted on 08/20/2010 9:35:30 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Extremely Extreme Extremist

As bad as are things are here, real glad I don’t need a dumb-ass coin to get me to the enchanted land.

Oh please.


53 posted on 08/20/2010 9:36:03 PM PDT by quantim (Victory is not relative, it is absolute.)
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To: mylife
Depends on size ~ and the machines with which I am most familar at USPS canteens are required to give change.

My own office didn't have enough people to support something like this so we had a refrigerator ~ and that required monthly clean-out ~ REFRIGERMURATOR DUTY as it became called.

A large operation with 1000 employees on a site can't really tolerate a food operation that isn't controlled ~ and canteens do the job.

54 posted on 08/20/2010 9:38:34 PM PDT by muawiyah
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To: Extremely Extreme Extremist

They don’t catch on because they look like quarters. If these geniuses at the Mint would just design a Reagan dollar coin that had the weight, size, height of the British 1 pound coin it would be used regularly by everyone.


55 posted on 08/20/2010 9:39:14 PM PDT by purplelobster
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To: eyedigress
Many universities are trying out a totally computerized student credit card system. Indiana University has had one for several years and it seemed to work fairy well. However, universities are almost closed societies so you can wire everybody in with some assurance of maintaining security for the system.

I suspect the canteen industry will do this in factory canteens as soon as security can be assured ~ you can imagine certain "problems" arising in organizations with lots of computer geek gurus around who can "fix everything".

Coins have a place eh!

56 posted on 08/20/2010 9:41:25 PM PDT by muawiyah
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To: muawiyah

We have like 5000.
One of the guys in our group of like 100 runs a canteen for our group.
Not everyone has access to it.

We do have the common refridgumerator duty.


57 posted on 08/20/2010 9:42:55 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: muawiyah

You nailed it already. Corporate vending. Don’t mess with the vending industry! LOL!


58 posted on 08/20/2010 9:43:40 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

HUGE mark up in vending machines!


59 posted on 08/20/2010 9:45:06 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: purplelobster
Here's the deal, if you use coins every day ~ like in a company canteen ~ you hardly ever look at them. You learn what they feel like and you reach in your pocket and fish them out and pop them in the slot.

Best of all, if you have sufficiently sophisticated machines you just drop whatever coins you have in the slot and it'll count them up, and kick back some change if you overpay.

Then you don't even need to know what they feel like!

For most purposes it doesn't matter if you have a dollar coin or a quarter, or a nickel. The machines are getting better at this and can now make all the decisions. Eventually they'll sense your hunger as you walk in the door and vend you the very thing you need (or want) to eat without you even needing to think.

60 posted on 08/20/2010 9:45:55 PM PDT by muawiyah
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To: mylife

You have 5000 and no Twenty changers?


61 posted on 08/20/2010 9:47:30 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

No change machines at all.


62 posted on 08/20/2010 9:48:55 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

Lunch can be had for 2.65 (I think not)


63 posted on 08/20/2010 9:49:03 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: mylife

Let’s keep this our little secret. MMKK....


64 posted on 08/20/2010 9:50:13 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

We have 2 chow halls and a few roach coaches.

I dont use them.

We have nice break areas with loads of microwaves, fridges, ice machines and tables.

There are vending machines for those that want them.
They even label the snacks to let you know the skittles are “Fat Free/Heart Healty”! LoL


65 posted on 08/20/2010 9:52:54 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: eyedigress

MmmmmKay....


66 posted on 08/20/2010 9:53:23 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife
Whatever the markup, let's say you have a 1/2 hour lunch in the middle of your shift. The nearest restaurant is 10 minutes away by car, but it'll take you 5 minutes to clear security going in and out.

That gives you 10 minutes to order, wait, and eat.

And, that cost is going to be very near what the canteen price is.

The alternative is to bring your lunch ~ and some work environments are just not suitible for that. I worked in a factory that made truck engines. The employee eating area was actually on a mezzanine up over the workroom floor. It was usually 125 degrees or more. Can you imagine what my lunch would be like up there in that basket at the top of that room?

So, I bought stuff at the then small fast food vendor on the main floor ~

Many workers today face the same problem and it's not feasible for them to bring a good lunch ~ a healthy lunch maybe ~ but not exactly one they want to eat.

There's lots of reasons the canteen industry is in business, and it's not just a rebellion against the Roach Coaches!

67 posted on 08/20/2010 9:54:07 PM PDT by muawiyah
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To: muawiyah

The machines do read correctly but the bottom line is the change will always be less than one dollar.


68 posted on 08/20/2010 9:55:02 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress
Lunch can be had for 2.65

We'll keep THAT our little secret LoL!

I had fried catfish, corn on the cob and a salad for lunch for about that price.

69 posted on 08/20/2010 9:56:22 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

If your on an AF base that’s different.


70 posted on 08/20/2010 9:57:26 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: muawiyah

Been there done that.

I am thankful I have a place to make lunch.


71 posted on 08/20/2010 9:58:13 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife
Sounds like you have someone in management who believes a comprehensive approach is best. Someday a company like ARA will make a low bid for exclusive rights. Your management would be well advised to request their "comprehensive package" so people are comfortable.

(NOTE: we had a top level manager for several years who'd worked in the industry and he passed around nuggets of information about how and why they did business the way they did.)

72 posted on 08/20/2010 9:59:20 PM PDT by muawiyah
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To: eyedigress

There are machines that will do that ~ USPS itself has vending machines that will give you change up to just short of $20


73 posted on 08/20/2010 10:01:10 PM PDT by muawiyah
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To: Extremely Extreme Extremist

The coin needs to be bigger—not the size of a quater—should be more like the old half dollar.


74 posted on 08/20/2010 10:03:13 PM PDT by Forward the Light Brigade (Into the Jaws of H*ll)
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To: muawiyah
let's say you have a 1/2 hour lunch in the middle of your shift. The nearest restaurant is 10 minutes away by car, but it'll take you 5 minutes to clear security going in and out. That gives you 10 minutes to order, wait, and eat.

I keep a supply of these for just those occasions.

And an array of asian noodles.


75 posted on 08/20/2010 10:03:30 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife
Let me thank everybody personally for the opportunity to hijack this thread away from consideration of the utility of metal coins to the provisioning of food at the workplace by machines.

Not often we get such a successful outcome ~ and yes, I have eaten gazillions of machine vended meals and I ain't dead yet.

76 posted on 08/20/2010 10:03:39 PM PDT by muawiyah
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To: muawiyah

The Coke machines are not going there. They are over a dollar.


77 posted on 08/20/2010 10:04:07 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

We are Civilian but AF is the main customer.


78 posted on 08/20/2010 10:05:18 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife
You try trotting that past the front door in those DIA offices scattered in basements and sub-basements in Rosslyn .......... not everybody let's you bring in food to keep at your workplace.

MREs aren't the worst thing ~ they beat roach coaches.

79 posted on 08/20/2010 10:05:56 PM PDT by muawiyah
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To: muawiyah

I am still talking about that. You didn’t hijack anything. Explanation for the vending caucus is needed.


80 posted on 08/20/2010 10:07:13 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: muawiyah

While I wont praise management, Someone got these break rooms put in and I’d like to buy that person lunch!


81 posted on 08/20/2010 10:07:18 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: eyedigress

All things are possible. Eventually you will be buying cokes with your credit card and liking it.


82 posted on 08/20/2010 10:08:35 PM PDT by muawiyah
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To: muawiyah

You are most welcome.

I always enjoy a good chin wag LoL


83 posted on 08/20/2010 10:09:31 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

Well, after the Roach Coach bit, it was obvious. I am in the private sector and the coins supplant the rising cost of vendor goods. That’s all. :^)


84 posted on 08/20/2010 10:10:15 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: muawiyah

There is a reason I dont work for them folks.
Having no windows is bad enough.


85 posted on 08/20/2010 10:10:53 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: eyedigress
It's rough out there!


86 posted on 08/20/2010 10:14:10 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife
Been there done that.

That was the back article in the Tally Ho! at LAFB 25 years ago! :^)

87 posted on 08/20/2010 10:14:11 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

No doubt.

Well. Gnight Eye.


88 posted on 08/20/2010 10:16:25 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

Get a good breakfast. Goodnite


89 posted on 08/20/2010 10:20:08 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Tagurit
I’m sure they cost a lot more to produce, and they’re just as worthless.

Will you send me your "worthless" dollar bills before tossing them out?

90 posted on 08/20/2010 10:20:18 PM PDT by Misterioso (The truth is not for all men, but only for those who seek it. -- Ayn Rand)
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To: mylife
If it isn’t in circulation isn’t that like giving the Gov a free ride on debt owed?

Yup. And commemorative coins are a cheap and painless way to get such loans.

91 posted on 08/20/2010 10:21:44 PM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Extremely Extreme Extremist

A MUCH better solution is to lop one (or maybe even two) zeroes off our currency and get the numbers back down to a reasonable size. Since we left the gold standard, inflation has thoroughly debased the currency.


92 posted on 08/20/2010 10:32:07 PM PDT by ProtectOurFreedom
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To: mylife

I would guess that’s enough for one egg when Obamaflation finally kicks in.


93 posted on 08/20/2010 10:33:58 PM PDT by ProtectOurFreedom
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To: ProtectOurFreedom

I was hoping for a dozen eggs And a loaf of bread.


94 posted on 08/20/2010 10:36:22 PM PDT by mylife (Opinions $1 Halfbaked 50c)
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To: mylife

That was the value yesterday. Remember, this is Obamaflation. Tomorrow that wad will buy you the left-over eggshell.


95 posted on 08/20/2010 10:40:43 PM PDT by ProtectOurFreedom
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To: Extremely Extreme Extremist

Get rid of the dollar bill and put a 2 dollar bill in its drawer in the cash register.

Put the dollar coins mixed in with the pennies; they’ll be easy to distinguish.

No problem!

Winners: Vending machine operators. Video game owners. Toll booth and subway operators. Charities that depend on small contributions of loose change. The US taxpayer.

Losers: The Crane Co. of Massachusetts (specialty paper makers and big donors to Masshole Democratic politicians.) Cotton growers. Employees of the Bureau of Engraving and Printing, and their union. Strippers.


96 posted on 08/20/2010 10:49:51 PM PDT by ccmay (Too much Law; not enough Order)
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To: Extremely Extreme Extremist

I suspect that soon, these $1 metal coins will be worth more than the $1 paper notes...


97 posted on 08/20/2010 10:50:04 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: Extremely Extreme Extremist
The paper monies used in the USA are Federal Reserve Notes from a Private banking system. The dollar coins produced by the U.S. Mint are "United States of America" dollars.

I use the dollar coins daily.

Using the dollar coins is a way for me to inform cashiers and others that the paper dollars are Federal Reserve Notes.

98 posted on 08/20/2010 10:57:12 PM PDT by Buddy B (MSgt Retired-USAF - Year: 1972)
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To: rfreedom4u

“I wonder how much money the mint spent to print all those?”

I recall I read somewhere that the mint spent either $350K or $650K studying what form factor of $1 coin would be most acceptable.


99 posted on 08/20/2010 11:00:35 PM PDT by Attention Surplus Disorder ("No longer can we make no mistake for too long". Barack d****it 0bama, 2009, 2010, 2011.)
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To: mylife

Pfft. I didn’t know they reminted the penny...what a waste.

Great, now we have Crapping Abe on a log.


100 posted on 08/20/2010 11:12:26 PM PDT by rlmorel (America: Why should a product be deemed a failure if you ignore assembly and operation instructions?)
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