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Why nobody uses the dollar coin


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#1    UM-Bot

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Posted 26 March 2011 - 10:48 AM

<strong class='bbc'>Image credit: sxc.hu</strong>
Image credit: sxc.hu
Phillip Tilley: At an outdoor picnic last year I observed a group of wasps trying to drink Pepsi from the straws in the cups.  Wasps would zoom to the ends of the straws were droplets had formed and get some of the sweet liquid.  Some of the Pepsi was diet and the wasps would not drink from the diet Pepsi.  It seems even wasps know the difference between real sugar and artificial sweetener.  They wanted nothing to do with the artificial stuff.  We could learn a lesson from the wasps when it comes to the dollar coins.

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#2    MstrMsn

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Posted 26 March 2011 - 02:16 PM

Many people don't use them not just because they know deep down that they aren't "real" dollars, it's that many people don't get them as change.

Also, not many people carry a lot of coins around, not just because it "clangs", but because it is too heavy to carry change that amounts to any real spendable amount. Yes, some women do have change purses in their giant, over sized purses, but not all. Also, most men don't carry a change purse, either. Now, had paper money not been introduced in anything smaller than $20, that would be different.

Honestly, it really doesn't have any "subconscious" "it's not a real dollar", nor is it due to not being real silver or real gold. It has to do with not wanting to carry coins when it's not needed.

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#3    Mbyte

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Posted 26 March 2011 - 02:55 PM

The only reason the federal reserve note seems like it has lost purchasing power is because that silver coin is not currency anymore and is just a rare object. Rare objects are expensive. Does that mean that buying a $200 traditional rupee used by the buddha to buy a loaf of bread means that the federal reserve notes has lost even more buying power. I see your example but it's not true. Silver coins like federal reserve notes are both worthless. When silver coins were in use back in the day there was a phillip tilley saying that the money matrix has you because the purchasing power of bartering is more effective an less risky than the silver coin, you leave your self open to banks and intrest rates.

Edited by Mbyte, 26 March 2011 - 02:56 PM.

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#4    acidhead

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Posted 26 March 2011 - 09:30 PM

 Mbyte, on 26 March 2011 - 02:55 PM, said:

The only reason the federal reserve note seems like it has lost purchasing power is because that silver coin is not currency anymore and is just a rare object. Rare objects are expensive. Does that mean that buying a $200 traditional rupee used by the buddha to buy a loaf of bread means that the federal reserve notes has lost even more buying power. I see your example but it's not true. Silver coins like federal reserve notes are both worthless. When silver coins were in use back in the day there was a phillip tilley saying that the money matrix has you because the purchasing power of bartering is more effective an less risky than the silver coin, you leave your self open to banks and intrest rates.


Rare objects is different than precious metals.

The american federal reserve note[fiat currency] has been leveraged to death... hence the devaluation of its purchasing power.

Precious metals such as gold and silver are hard currencies and can only be devalued by a government bureaucrat..... under pressure from the western central banks to uphold their firm grasp on the global monetary ponzi scheme through their fiat currency.[keynesian economics]


Back to the OP's original question:

Why nobody uses the dollar coin?

-He answered it according to fact............. because there is no damn silver in it anyhow!  They are just as worthless as the fiat notes.

Edited by acidhead, 26 March 2011 - 09:40 PM.

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#5    Alienated Being

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Posted 27 March 2011 - 07:19 PM

The dollar coin is undergoing constant circulation in Canada.


#6    dazdillinjah

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Posted 27 March 2011 - 09:52 PM

In New Zealand we have $1 & $2 coins in general circulation ..the $1 & $2 notes were phased out many years ago


#7    Mbyte

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Posted 29 March 2011 - 01:04 PM

 acidhead, on 26 March 2011 - 09:30 PM, said:

Rare objects is different than precious metals.

The american federal reserve note[fiat currency] has been leveraged to death... hence the devaluation of its purchasing power.

Precious metals such as gold and silver are hard currencies and can only be devalued by a government bureaucrat..... under pressure from the western central banks to uphold their firm grasp on the global monetary ponzi scheme through their fiat currency.[keynesian economics]


Back to the OP's original question:

Why nobody uses the dollar coin?

-He answered it according to fact............. because there is no damn silver in it anyhow!  They are just as worthless as the fiat notes.

You called silver and gold precious metals but they aren't precious at all. They're just metal. What is so precious about them? It's just a piece a metal. Sure it can be used for infrastructer but why use it as money? What is so great about having silver coins, they do same thing current coins.
Why is a ruby valuable? It's a just a glorfied rock. Yet people pay through the nose for it.

Are you just simply saying that the previous currency was better value? We were ****ed over by this currency?

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#8    DieChecker

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Posted 30 March 2011 - 12:09 AM

I use dollar coins every day. I get them from the vending machines. Usually I put in a $20 at the beginning of the week and it gives out change with $1 coins. Then I use them over the week.

Interesting Fact that I have noticed. There are at least 3 different Sacagawua coins. The "heads" side is the same, but the "tails" side is changed every couple years.

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#9    Gatofeo

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Posted 30 March 2011 - 03:44 AM

The reason recently made American dollar coins are not used much is simple: the fools at the mint are still making paper ones!
Stop producing paper $1, $2 and (gasp!) $5 bills and replace them with coins of the same value! I've spent a great deal of time in Canada, and their $1 and $2 coins are much used because it's either those coins, or at least 4 to 8 quarters.
I like the Canadian $1 and $2 coins. Makes a lot of sense. They'll last 20 or more years, whereas paper bills typically last two or three.

The Canadian $1 coin has an aquatic bird on it, the loon. Consequently, it's informally known as the Loonie. And the $2 coin is called a Twoonie!

I say we need to issue an American $1 coin, and on it would be a surfer riding a wave. We'll call it a Tubie.
And then we'll issue a $2 coin with Frank Sinatra on it, and call it a Toobie Toobie Too ...  :w00t:

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#10    psychoticmike

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Posted 01 April 2011 - 11:46 PM

personally i would rather pull out a wad of paper money then dig around in my pocket to find the right coins, plus some places might not even take the 1 dollar coin, i have been to places that would not take a 2 dollar bill, and i have been to many gas stations that refuse to take a dollar in pennies. so coin money may last much longer, but i don't think its that big of an issue to change the bill to a coin. the only real benefit i see in it, is people would be alot harder to rob, you think they're gonna stick around and pick up all the change off the ground? LOL


#11    KRS_One

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Posted 06 April 2011 - 04:17 AM

 acidhead, on 26 March 2011 - 09:30 PM, said:

Precious metals such as gold and silver are hard currencies and can only be devalued by a government bureaucrat..... under pressure from the western central banks to uphold their firm grasp on the global monetary ponzi scheme through their fiat currency.[keynesian economics]


Back to the OP's original question:

Why nobody uses the dollar coin?

-He answered it according to fact............. because there is no damn silver in it anyhow!  They are just as worthless as the fiat notes.

Oo!  Oo!  I can answer this!  Me! Me! Me! *shakes hand above head*

No currency since before the reign of Augustus Caesar has been "worth its weight" in precious metals and was never, ever intended to.
300+ years later during Diocletian's reign, he attempted to reign in the amount of precious metals present in the average coin and failed miserably.

Sad to say, but since about 10 b.c. we've been trading on the "false currency" that you're so concerned about.  That puts us at 2000+ years of doing just fine on undervalued currency.  Want to make a bet on how far it can carry us?


#12    Oen Anderson

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Posted 06 April 2011 - 05:01 PM

 KRS_One, on 06 April 2011 - 04:17 AM, said:

Oo!  Oo!  I can answer this!  Me! Me! Me! *shakes hand above head*

No currency since before the reign of Augustus Caesar has been "worth its weight" in precious metals and was never, ever intended to.
300+ years later during Diocletian's reign, he attempted to reign in the amount of precious metals present in the average coin and failed miserably.

Sad to say, but since about 10 b.c. we've been trading on the "false currency" that you're so concerned about.  That puts us at 2000+ years of doing just fine on undervalued currency.  Want to make a bet on how far it can carry us?
From the article it looks like Tilley is betting our current currency lasts only another year and a half.  Throughout history gold and silver have never been worth nothing.  The same cannot be said for fiat currencies.  If you don't see the difference you only delude yourself.


#13    Trog

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Posted 06 April 2011 - 08:30 PM

I think we are all missing the point , coins wear  holes in pockets , and notes have to be carried in a clip or wallet where as a credit card takes up practically no room at all …. Yes I know that credit card fraud does exist , but life itself is risky to a small degree .

There are clever people out there working out a safe way for the hard currency to be taken out of the equation , the sooner the better …. Bring on a cashless society .

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#14    Oen Anderson

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Posted 08 April 2011 - 02:52 AM

 Trog, on 06 April 2011 - 08:30 PM, said:

I think we are all missing the point , coins wear  holes in pockets , and notes have to be carried in a clip or wallet where as a credit card takes up practically no room at all …. Yes I know that credit card fraud does exist , but life itself is risky to a small degree .

There are clever people out there working out a safe way for the hard currency to be taken out of the equation , the sooner the better …. Bring on a cashless society .
Dude, you need to read 2012 and the economy to see what is going to happen to your credit card pretty soon!


#15    Bildr

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Posted 21 April 2011 - 12:43 AM

Money based economic system is out-dated. I don't want to go into technical discussion, but i firmly beleive that we need to re-structured our world economic, of face great economic crash in this century.

Money is going through devaluation since the last world war. To buy something that needed about 1$ to purchased 50 years ago, it takes almost 20$ to buy it in 2011, not because it cost more to product merchandise for people in our modern world, but only because money is loosing it's value cause of inflation and etc...

Example: A bag of chips cost a dollar. Bang!--> Inflation: a bag of chips cost 1.50. You only have a dollar, your dollar is depreciated.

Edited by Asgaard, 21 April 2011 - 12:49 AM.

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