Doing away with dollar coins

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danhughes's picture
danhughes
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First huntFilling a cofee can or twoCould use a few more storage tubsThe garage is looking smaller all the timeMaybe it's time to contact the museum
Joined: 12/06/2009
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For the past few years, several members of congress have been trying to get the US to phase out dollar bills and use dollar coins instead.  Using coins instead of paper dollars will save us tons of money, they say.

But in a sudden about-face, the White House has just announced that the dollar coins will be virtually eliminated, except for those made for collectors.  

This will save us tons of money, they say.

Looks like either way we'll save tons of money!

Huh?

Here's the story:
http://thetreasurecorner.com

---Dan Hughes, http://treasuremanual.com

---Dan Hughes, http://treasuremanual.com

charlotte49er's picture
charlotte49er
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First hunt
Joined: 12/09/2010
Hi Dan,Doing away with the

Hi Dan,Doing away with the Dollar coins could save a billion dollars!http://www.youtube.com/watch?v=neXDSjvsFag However, now the Coin Vending companies have gotten into the fray.  They are starting a big push to do away with the Paper Dollar over a dollar coin.  Coins work better in a coin changer than does paper money.  Easier to count, easier to handle, etc.  But it sounds like a "done deal'" that the Dollar Coin will go away. The Aussies have switched ot a plastic "paper" for their money. From Wikipedia:There were initial difficulties with the first banknote issued; the $10 note (pictured above) was recalled because of problems with the holographic security feature detaching from the note. However, the Reserve Bank saw potential in the issue of plastic banknotes and commenced preparations for an entirely new series made from polymer, commencing with the $5 note in 1992. In 1995, the design of the $5 note was updated to match the rest of the New Note Series, with additional slight changes in 1996. In 2001, a special commemorative $5 note was produced, but in 2002, the previous version's production commenced again.In 2002, the design of all notes (except for the $5 note picturing the Queen) was slightly changed to include the names of the people pictured on them under the portraits, and swapping the order of the signatures of officials on the notes.Today all Australian notes are made of polymer.