Congress looks at doing away with the $1 bill

[TakeAStepBack]

It's not a conspiracy on coin size, dude. And in 2012, you may not be aware, oldguy, vending machines take dollar bills and dollar coins. Loosen up the tinfoil.

Maybe not, but those dollar coins only work because they're roughly the size of a quarter. Try inserting one our old Liberty dollar coins and see how far you get.

Are you serious? First, you must be referring to a peace dollar. It looks like this:

I would never in my wildest state of drunken debauchery, ever try to put one of these silver gems into a vending machine.

 

[occupied]

The solution, if people are so attached to banknotes, is to switch to the plastic banknotes in use in other countries, they last a lot longer and are practically counterfeit proof. I could adapt either way.

 

[Avatar4321]

How about they just cut a trillion in wasteful spending so we dont have to worry about it.

 

[Wry Catcher]

Of course the dollar bill should be phased out and a one dollar coin with the face of our first president should replace it. We have a two-dollar bill; inflation has made any purchase of a dollar or less a rare occurrence, so why not?

The penny seems to be a hedge on inflation, if we eliminated it both taxes and prices would rise, would they not?

 

[beretta304]

I say we put Barack on the dollar bill. It's only worth 2 cents anyway. A two cent dollar with a two bit incompetent President on it.

Works for me.

 

[TakeAStepBack]

It costs more to make a penny than it is worth. If that "hedges inflation", I don't see then how taxes and prices would rise. Unless you mean that .03 to a dollar would be rounded.

 

[Meister]

Of course the dollar bill should be phased out and a one dollar coin with the face of our first president should replace it. We have a two-dollar bill; inflation has made any purchase of a dollar or less a rare occurrence, so why not?

The penny seems to be a hedge on inflation, if we eliminated it both taxes and prices would rise, would they not?

It costs a penny and a half to produce a penny.....you do the math, Wry.

 

[Katzndogz]

Dollar coins would be much more popular if it wasn't designed to be confused with a quarter.

 

[TakeAStepBack]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

 

[Katzndogz]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

 

[beretta304]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

I read somewhere once that the nickel in nickels is worth more than the nickel.

Try saying that fast 10 times.

 

[Paulie]

How about they just cut a trillion in wasteful spending so we dont have to worry about it.

They'll get right on that

 

[Paulie]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

I read somewhere once that the nickel in nickels is worth more than the nickel.

Try saying that fast 10 times.

The copper in pre-1982 pennies is. They're worth about 2 cents a piece.

 

[TakeAStepBack]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

Right, because the metal is worth more than the currency. See how that works?

And why is that? Why is our medium of exchange worth so little compared to (at least by todays thought mode) simple commodities like copper, silver and gold? What happened there?

 

[Paulie]

To put it into perspective, $10 worth of 1982 pennies is worth about $25.

 

[TakeAStepBack]

Yep, 4 1964 quarters are worth over $20/

 

[g5000]

I like the idea of a dollar coin. When I was in Europe I saw the sensibility of such coins.

I agree the closeness of the current dollar to the size of a quarter is stupid.

So here is a compromise that I think is ideal.

Keep the dollar coin the same size and...put a hole in the center. Then it won't be confused with a quarter and will take even less metal to make.

Mo' savings!

.

 

[beretta304]

If pennies were still made of copper, people would literally be murdered for pennies.

I read somewhere once that the nickel in nickels is worth more than the nickel.

Try saying that fast 10 times.

The copper in pre-1982 pennies is. They're worth about 2 cents a piece.

I think the caveat is that it's illegal to melt down coins.

 

[Paulie]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

Right, because the metal is worth more than the currency. See how that works?

And why is that? Why is our medium of exchange worth so little compared to (at least by todays thought mode) commodities like copper, silver and gold? What happened there?

Ridiculous how even when people see it in this kind of situation, they STILL won't advocate for sound money.

 

[Avatar4321]

What's really sad is that .01 cent, used to actually be worth something. It was actually made out of copper. We gave all that up when we went fiat so now all coins post 1964 are base metal. The penny is a piece of zinc and iron and stamped with Lincoln's face. That's rather fitting though, really.

If pennies were still made of copper, people would literally be murdered for pennies.

Right, because the metal is worth more than the currency. See how that works?

And why is that? Why is our medium of exchange worth so little compared to (at least by todays thought mode) simple commodities like copper, silver and gold? What happened there?

Government created inflation