TELL US: Should $1 Bills be Replaced with Coin?
Can we learn to love the $1 coin, if it will save billions?
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Americans have resisted the dollar coin. We like our small denominations in paper.
For savings like that, can we learn to carry them?
On the pro-side of the change, the coin has a longer shelf life. Coins can last decades, where the paper bills typically have to be retired after four or five years, according to a report in the Boston Globe.
On the negative side, the paper bill would have to be completely eliminated for the savings to accrue. And it would take several years and up-front expenses to produce the coin.
Advocates point to the recent experience in Canada, where the $1 coin has proven a huge hit. And now a $2 coin has been introduced.
Should the U.S. drop the dollar bills and make the switch? Tell us what you think in the comments section.
Barb Nahoumi
8:03 am on Sunday, December 2, 2012
One two-letter word------NO.
bill roderick
8:11 am on Sunday, December 2, 2012
do away with the penny,that will save money,it costs more than a penny to make it.no to the dollar coin..
RON BEATY
9:18 am on Sunday, December 2, 2012
...a total of TWO WORDS, one a 10 letter word and the other a 3 letter word: ABSOLUTELY YES!!!
Angela Nuss
6:24 pm on Sunday, December 2, 2012
Probably. Given the savings potential, absolutely.
Yeah, we should stop producing pennies, or at least cut production by at least 1/2. There should be enough out there to warrant a decrease in production of the penny.
nancy shadyac
6:40 am on Monday, December 3, 2012
By the time they formed a committee to appoint a committee to design (and squabble over such), make the mold and implement it, and pay the salaries of said several committees....NO! Not to mention that by time they wasted years getting around to it, it would be worth what the penny is today anyway.
Janice Perry
7:22 am on Monday, December 3, 2012
With all that is going on in this world, I could care less about a coin. " Government" stop the foolish spending. Stop sending our enemies our money, we won't have to worry about a cliff.
Barb Nahoumi
7:24 am on Monday, December 3, 2012
Everyone would need to have a change purse. Dollar coins would not fit conveniently in a wallet, the way paper money does.
malcolm nichols
7:31 am on Monday, December 3, 2012
This is not new (remember the JFK or Susan B Anthony). The problems in the past with the$1 coin is that it closely resembled the Quarter and was sometime hard to differentiate, it needs to be bigger in size which makes it somewhat awkward. Clearly the coins are more cost effective because they last so much longer than paper money. I'm not sure about counterfeiting coin vs paper?
H Shamir
9:18 am on Monday, December 3, 2012
Get rid of penny and nickel. NO to coin dollar. Eliminate paper $1, no need for this. Expand usage of $2 bill. Unfortunately even a cup of coffee costs more than $1. Eliminate inconvenient fractional sales tax, and make it even 5% (necessity items) or 10% (for luxuries), which will eliminate need for penny and nickel.
bill roderick
6:52 pm on Monday, December 3, 2012
that is a good point,you do not get anything for a dollar.
Carol
2:39 pm on Monday, December 3, 2012
Good idea about no longer making pennies...Please! Could we just leave our currency alone!
bill roderick
6:56 pm on Monday, December 3, 2012
the govenment could melt down the pennys and use the copper for other coins,quarter and dime have a copper base,
Kathleen DeWitt
7:51 am on Tuesday, December 4, 2012
No. Do get rid of the penny though.