New US dollar coin coming out, Lucky us.

[Sandman]

This summer we will be able to find the new US George Washington dollar coin at the beaches. As soon as the vending machines are in place we should find more.

 

[teklord]

I love these new coins and use them wherever possible. I gave a some to a guy for a tip and he asked " what are these ? "
The more there are in circulation the better chance of finding them.

Tek

 

[dahut]

I love these new coins and use them wherever possible.
Me, too! I get them in the roll and then use them all over.

 

[deepsix47]

The biggest problem with the Susan B was th size. Much to close to a quarter. Make them at least half again larger and they just might fly.
Deepsix

 

[Foilman]

dahut,
I am over my head explaining the currency distribution. Maybe somebody can help. But I think about a undertaker that told me a story. He said that the deceased insisted he put a $100. bill in the hand of the deceased 'cause that was his wish. To die with a Benji. in his hand. He begged them and others to not do this and give it to charity or something but they insisted. So he said OK. So he promptly pocketed the 100. and wrote the deceased a check for $100 dollars. and placed it in his hand. The check will never be cashed as no hoarded coin will be ever turned in. If it is, something more worthless will be exchanged for it. As time goes on the govt. can print more money and buying power goes down and your jarred money buys less stuff all the time unless it is gold! or rare collectible. It is devaluation in the form of inflation and over producing currency. Just like when you buy a savings bond. You hand over real cash for a piece of paper. After a while its like monopoly money. THey outlawed owning gold to insure you would use paper where they control the value more. In russia they use vodka for currency. Its value is more predictable.

 

[dahut]

Its alright - bottom line is its a hosed up situation. Like wrtiting checks with nothing ot back them, or sending a hundred dollars to the grave. Thanks

 

[Foilman]

dahut,

I think I have my proof. Go to the U.S. Dept of Treasury web site and click on coins FAQ fourth question. It answered 3 questions being discussed here.

1) It would take an act of congress to stop the pennies signed by the Pres. and ok'd by the treasury.

2) They are not going to stop because the penny is the most used coin in circulation and they can still make a profit at .81 cost to produce. (it even used the word profit, that suprises me)

3) In year 2000 they made a $24 million dollar profit on the penny to fund the US mint and pay down public debt.


I am not always right but I am on the money this time pun!

So compared to the penny the quarters are highly profitable and what kid and their uncle are not collecting the quarters.

So they want to keep this nonsense up with a run of all the presidents.

After that my prediction it will be all the first ladies!

 

[Treasure_Hunter]

We could get rid of the penny by rounding up or down like they do in taxes. IF it is 6 or 7 it goes to 5 if it is 8 or 9 it goes to 10 (the next higher domination.)

 

[dahut]

I had this explained to me by someone who actually KNOWS how the whole thing works. Bottom line is I was right, and I was wrong. I had some basic concepts wrong, when it somes to the Mint and its distribution.

You may not know everything Foilman, but you were right on this one. I defer to your awesome brain hereafter!

 

[Foilman]

dahut,
I wish I had awesome brain power!

Anyway of course I am all for the $1 coins, I only need to find 3 to buy a gallon of gas! Instead of my usual 300 pennies!

 

[rjnail]

need to get rid of all the paper money, . then i'll just hunt for a liven,