Skip to comments.Biden: US scrapping dollar coins to save government money
Posted on 12/13/2011 1:22:59 PM PST by SMGFan
Vice President Biden announced Tuesday that the U.S. Mint would discontinue production of presidential dollar coins.
Stopping production of the coins is part of the Obama administrations Campaign to Cut Waste. Bidens announcement came at a Cabinet meeting focused on that campaign.
(Excerpt) Read more at thehill.com ...
I actually like the dollar coins. They’re convenient for tolls.
I suspect a metal dollar would save a lot of money over a paper dollar in the long run. Eliminate pennies and dollar bills. If we let the government keep our penny change, that would add up to a significant amount over a period of years and we wouldn’t even miss it.
That is doubleplusgood!
As it was, mom could use them for the small purchases.
In July, they stopped accepting credit card orders. You had to mail a check. Last month, they started charging a fee to order them.
Stupid is as stupid does. Getting rid of the paper dollar and bringing all the $2 bills and dollar coins out of circulation would make a lot of sense and would force almost nobody to retrofit their cash registers.
I usually keep scrolling when I see the word “Biden” in a headline. This time I read it and now I have a headache.
That’s what Canada did or at least they stopped producing dollar coins in favor of the loonie.
At work (postal service) I get dollar coins as part of change in vending machines in breakroom.
Put $5 bill in for $2.50 tuna sandwich, get change back in
dollar coins and other coins. Later use the dollar coins for such things as coffee (85 cents for large) or soda (20 oz.,
$1.45). Dollar coins being used all the time there. (And
there are change machines that will issue dollar coins)
I’ve been saying for a long time now...if they really want to save money, they should eliminate quarters and dollar bills entirely, and start minting half dollars and 2 dollar bills instead. Since they are twice the monetary value, we only need half as many.
Vending machines don’t always accept the $1 bill in bill acceptor. They always accept the $1 coin, easily. (Unless
maybe they don’t empty the coin tub inside for a long time.
One coin you don’t see often is the JFK Half Dollar. Got one (spent later) at a ferry crossing between VT and NY.
The state quarter program has ended.
If they really wanted ot cut waste, they’d stop pouring money into green fiascos like the Volt, Solyndra, etc.
They’d also deep six Obama,Holder, Biden, Reid, Pelosi...
That’s almost as annoying as my monopoly strategy of hoarding all the ones.
I’m the reason for the rule, “the bank is permitted to print any amount of money in any denomination”.
Good! I was afraid they’d scrap the paper dollar.
This means that presses tied up printing $1 bank notes can’t be used to print $100 notes...
True, but the Presidential $1 coin series continues. My mint and proof sets extend back to 1950 complete. Wonder if they'll still issue the $1 Presidentials as proofs at least if not for general circulation, like it has been done for some coin series. FReegards!
and then after honoring territories as well, they started 11 years of National Parks - one for each state or territory in order.
Not before they get to DumBO! Man, they really hate Bush.
The problem with the Dollar Coin (good idea) was the fact it was the size of a Quarter! It might have worked had they made it the size of an old Half Dollar—And what’s with this Sacajawea Indian Lady? She was a Canadian. We have lots of dead presidents we could have used on this coin—like Reagan. If they really wanted a lady—use Eleanor Roosevelt. At least she was ambassador to the UN. Size and poor PC presentation doomed the dollar coin. How about a five dollar coin?
Here is another idea-—return to gold standard and make the coins out of real valuable metals.
If a coin must go—dump the penny and nickle.
good. now take them out of circulation and melt them all down.
TRANSLATION: "It costs less than a trillion dollars."
Otherwise known as the 'Squaw Buck'...
Worked in Canada.