Posted on 02/01/2012 6:46:31 PM PST by opentalk
Sens. John McCain (R-Ariz.) and Tom Harkin (D-Iowa) have introduced legislation that would permanently discontinue the $1 dollar note and replace it with a coin.
Harkin and McCain penned The Currency Optimization, Innovation and National Savings (COINS) Act in response to reports from the nonpartisan Government Accountability Office (GAO) that indicate that abandoning the note could save around $5.5 billion over the next 30 years. Specifically the COINS Act would require that Federal Reserve Banks discontinue the $1 note four years after enactment or once circulation of $1 coins exceeds 600 million annually.
(Excerpt) Read more at thehill.com ...
They can get half the population using a classic “Heads and Tails” coin ~ like this one~ https://store.nwtmint.com/product_details/2095/Heads_or_Tails_Female/
Why not just write in the amount with a magic marker on knock-out slugs from outlet and junction boxes and save taxpayers even more of our valuable money?
It’s weird how this stupidity pops up every 10 years or so. I can understand a couple of losers like McCain and Harkins still trying to beat this dead horse to death.
This is an effort to push the public harder into debit cards, thereby forcing an electronic record of EVERY purchase.
They have rich data showing the public hates such coins.
The move makes sense once you accept that treachery is a core DC value.
They can stick their $1 coins up their backside!!!
They will be sooundly rejected as every other attempt has!!!
Yeah, cause that Susan B. Anthony coin was SOOOOOOOO popular. Everyone I know is clamoring for another $1 coin...not. Idiots.
One thing I like to do, when Americans come into my store and are confused by Canadian money when trying to pay for stuff, I pick up the toonie and tell them, “This is a penny. I need 186 of them to pay for your coffee.”
They catch on real quick that the toonie is not a penny.
“This is an effort to push the public harder into debit cards, thereby forcing an electronic record of EVERY purchase”
I won’t use a debit card under any circumstance, I use credit cards but will never accept using a debit card!
They hate the one pound coin in the UK. I know I did.
You Canahoodians just love yer coins, doncha? And all that funny colored paper monopoly money, too!
I’d prefer to see them get rid of the penny, nickel, and dime (which have negligible value these days) and put a half dollar in large circulation. Then they can round everything to the nearest quarter dollar.
It’s gotten better.
Now our money has crystal clear parts and it’s made of plastic.
Impossible to tear, but it melts just fine.
But the kids will love em for their games in the arcades. 1 coin for 4 plays on Pac Man or Tron. LOL
It makes sense to get rid of pennies, but nickels and dimes still have reasonable purchasing power.
There are a lot of things you can get for under a dollar.
Any “Harkin-McCain” bill is a bad idea.
$1 buys as much today as a dime did in 1950. The Fifty cent piece was twice as large as the quarter, and I usually had one in my pocket, every time I broke a dollar bill.
They’ve got tons of minty Susan B dollar coins just waiting. (Right.)
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