$1 coins

dosed150

Emperor
Joined
Jul 12, 2007
Messages
1,049
Location
London,UK
just saw this story on bbc news http://www.bbc.co.uk/news/world-us-canada-10783019

so the usa has 1.1 billion of these coins just sitting there, and is minting more but no one will use them

why not get rid of $1 notes, because coins last much longer, you could save $500million-$700 million a year so why not, are people really that attached to $1 notes?
 

Hygro

soundcloud.com/hygro/
Joined
Dec 1, 2002
Messages
24,662
Location
California
yeah we save them instead of using them.
 

Patroklos

Deity
Joined
Feb 25, 2003
Messages
12,721
Ones are used all the time. What we should get rid of is everything small than a quarter.
 

Hygro

soundcloud.com/hygro/
Joined
Dec 1, 2002
Messages
24,662
Location
California

dosed150

Emperor
Joined
Jul 12, 2007
Messages
1,049
Location
London,UK
Ones are used all the time. What we should get rid of is everything small than a quarter.

small coins are definetely pointless these days

1 and 2 pence coins just clutter your wallet especially when so much stuff seems to be something 99, a few of the euro countries got rid of 1 and 2 cent coins
 

innonimatu

the resident Cassandra
Joined
Dec 4, 2006
Messages
14,478
small coins are definetely pointless these days

1 and 2 pence coins just clutter your wallet especially when so much stuff seems to be something 99, a few of the euro countries got rid of 1 and 2 cent coins

None of those countries can cease to use those coins - even if they won't mint them.
 

Lillefix

I'm serious. You can.
Joined
Dec 1, 2003
Messages
5,698
None of those countries can cease to use those coins - even if they won't mint them.

The situation will be like the one in the US with 1 dollar coins. If shops don't accept them, they will automatically go out of use. And perhaps there even are laws saying prices must be rounded down to the nearest 5 cents.

edit: Yeah, I meant payments, not prices
 

dutchfire

Deity
Retired Moderator
Joined
Jan 5, 2006
Messages
14,106
Location
-
In the Netherlands, most shops don't use €0,01 and €0,02 anymore and they will round all cash payments to the nearest €0,05.
 

Mise

isle of lucy
Joined
Apr 13, 2004
Messages
28,623
Location
London, UK
We have £1 coins here, they work just fine. I guess a £1 note would be nice, but I don't think I'd use it any differently to a £1 coin. As long as it's got the Queen's face on it, I'd use it.

Why won't yankies use $1 coins? I don't really understand what the problem is.
 

Arakhor

Dremora Courtier
Super Moderator
Joined
Mar 27, 2009
Messages
37,762
Location
UK
We already phased out pound notes long ago, because coins are cheaper to produce. Even now, coins get smaller and lighter to avoid costing more than their face value. Coppers are virtually obsolete.
 

Patroklos

Deity
Joined
Feb 25, 2003
Messages
12,721
They, as well as $.50 pieces, have not been in normal use for a long time. They were rarities kids collected. Consequently things like vending machines, which is pretty much the only think I use coins for, were not designed to use them.

In general a cashier will take them from you, but if you are dealing with a cashier why not use the far more managable note that fits nicely into a cash fold or wallet?
 

innonimatu

the resident Cassandra
Joined
Dec 4, 2006
Messages
14,478
We have £1 coins here, they work just fine. I guess a £1 note would be nice, but I don't think I'd use it any differently to a £1 coin. As long as it's got the Queen's face on it, I'd use it.

Why won't yankies use $1 coins? I don't really understand what the problem is.

Lousy 1$ coins, perhaps?
The 1£ coins are really nice.
 

Mise

isle of lucy
Joined
Apr 13, 2004
Messages
28,623
Location
London, UK
Yeah, good point, they do look the part. They certainly have a nice weight to them. Same with Euro coins.
 

Mathilda

Queen
Joined
Jun 18, 2004
Messages
7,718
Location
Helsinki, Finland
None of those countries can cease to use those coins - even if they won't mint them.

Depends on what you mean by use.
Finland from the beginning said, we are not going to use ones and twos, five cent coin is the smallest.
All cash payments are rounded to the closest 5 cents.

You can use them if you happen to have a few left over from your travels.
I've seen maybe half a dozen in the last nine years.
 

Tani Coyote

Son of Huehuecoyotl
Joined
May 28, 2007
Messages
15,179
Ones are used all the time. What we should get rid of is everything small than a quarter.

I once proposed getting rid of the penny and replacing it with a 2 cent coin instead due to the excessive cost of the penny.

My mother promptly went on a rant about how businesses would naturally raise prices up to the next even cent rather than down... wow, for a person who's so trusting of business, she sure is pessimistic. ;)

She'd have a cow at this proposal!

Then again, it'd only be a 1-3 cent increase in most cases.

Now the fun part is what the heck to do with taxes; they'd have to be calculated in such a manner to not cause enormous issues in commerce.

Of course, hey, we don't get our fraction of a cent back when we pay for gas... maybe the company can confiscate any difference. ;)
 

Marla_Singer

United in diversity
Joined
Oct 24, 2001
Messages
13,069
Location
Paris, west side (92).
What a silly article. Of course people don't use $1 coins since there are still $1 notes available.

If the Fed wants to get rid of the $1 notes, then they should stop to print them. Americans may like better notes than coins, but they like even better to get their change back. If notes are not available anymore, I can guarantee you they'll accept coins.

It's really silly to mint $1 coins and still print $1 notes in the meantime. That would be like continuing printing French francs notes after the introduction of the euro... Of course French people would have still used the francs as that was what they were used to!
 
Top Bottom