[Lava Lamp Freak]

The U.S. Mint is hoping that Martin Van Buren and Millard Fillmore can do what Susan B. Anthony and Sacagawea couldn't - get Americans to use dollar coins.

It will release four new presidential dollars each year, starting with George Washington, John Adams, Thomas Jefferson and James Madison in 2007. The Van Buren dollar will be released in 2008 and the Fillmore in 2010.

U.S. mint pushes new $1 coin with images of past presidents - Nov. 20, 2006

Personally, I have never liked $1 coins. I don't like the sound coins make in my pocket. I keep coins in my car to use to pay for fast food at the drive-through window. When the Sacagawea coin began circulation, I thought it was so cool that I saved the coins and never spent them. Now I have about $10 worth of these coins, and they are worth $10. I've not seen one in circulation in several years.

I rarely use cash nowadays. With even fast food chains accepting credit/debit cards, I find the swipe much more convenient. I prefer to use my check card everywhere I go so I can keep track of my spendings.

[nonhuman]

$1/£1/云1 coins are very useful. If you're in a place where there are things that actually cost $1/£1/云1. In China, I found the 云1 coins to be extremely useful and convenient, much more so than the 云1 notes. In the UK, the £1 coins are decently useful, as are the £2 coins. Especially if you spend a lot of time around Queensway in London where many of the pubs have £2 pint lunch specials (or at least they did 3 years ago). In the US it's pretty rare to actually have things that cost $1. Value meals at fast food restaurants are about all I can think of, but those are usually 99¢ + tax (in California that makes them $1.07 which is really damned annoying) which makes it a little less convenient (Or at least less satisfying as you can't just toss a single coin onto the counter and walk away, I don't know why, but I love being able to do that).

[Dakar²]

It's kind of hard to tuck into a girl's thong.

[Mithras]

Absolutely. Use the $1 coin and drop the penny. The Euro is a sensible currency in at least that respect.

[drnkn_stylz]

I'm in Canada and we have the $1 coin (loonie) and a $2 coin (toonie).

I'm comfortable with both, but sometimes your change can get a little heavy/bulky with the toonies.

When I'm in the states I find $1 bills to be kind of annoying.

[Dork.]

I like the concept of a dollar coin. Maybe it will be sucessful this time if they actually give them to banks to distribute first, instead of Wal-Mart.

[Eug]

Originally Posted by Lava Lamp Freak 

Personally, I have never liked $1 coins. I don't like the sound coins make in my pocket. I keep coins in my car to use to pay for fast food at the drive-through window. When the Sacagawea coin began circulation, I thought it was so cool that I saved the coins and never spent them. Now I have about $10 worth of these coins, and they are worth $10. I've not seen one in circulation in several years.

If they actually stopped producing the $1 bills, and started destroying them (like in other countries), then you can bet people would be using the $1 coins.

Why would you destroy perfectly good money? Cuz it's been said that $1 and $2 coins save money for various businesses. It's a lot easier for machines to deal with coins than it is with bills.

The two things I hate about US money:

1) All the bills look the same.
2) $1 bills are still in common use.

Whenever I'm in the US, I'm always annoyed at having a bazillion $1 bills in my wallet.

The $1 coin would be very useful. Actually, a $2 coin would be useful.

And I wish Canada and the US would eliminate the 1 cent coin completely. There is a 1 Euro cent coin still available, but it was refreshing to see in Italy that most of the stores I went into would just round everything up/down to the nearest number divisible by 5.

Originally Posted by Dakar² 

It's kind of hard to tuck into a girl's thong.

Cheap bastard.

Originally Posted by nonhuman 

$1/£1/云1 coins are very useful. If you're in a place where there are things that actually cost $1/£1/云1. In China, I found the 云1 coins to be extremely useful and convenient, much more so than the 云1 notes. In the UK, the £1 coins are decently useful, as are the £2 coins. Especially if you spend a lot of time around Queensway in London where many of the pubs have £2 pint lunch specials (or at least they did 3 years ago). In the US it's pretty rare to actually have things that cost $1. Value meals at fast food restaurants are about all I can think of, but those are usually 99¢ + tax (in California that makes them $1.07 which is really damned annoying) which makes it a little less convenient (Or at least less satisfying as you can't just toss a single coin onto the counter and walk away, I don't know why, but I love being able to do that).

[Edit: What? It doesn't like the pound and cent signs? What the hell?]

Fixed.

(If you use the advanced editing mode, it works.)

[nonhuman]

Originally Posted by Eug 

The two things I hate about US money:

1) All the bills look the same.
2) $1 bills are still in common use.

Whenever I'm in the US, I'm always annoyed at having a bazillion $1 bills in my wallet.

The $1 coin would be very useful. Actually, a $2 coin would be useful.

I rarely have a lot of $1 bills. I guess I just get used to handing over the small bills first. It's an essential skill to have when using $1 bills.

And I wish Canada and the US would eliminate the 1 cent coin completely. There is a 1 Euro cent coin still available, but it was refreshing to see in Italy that most of the stores I went into would just round everything up/down to the nearest number divisible by 5.

That would be great.

Fixed.

(If you use the advanced editing mode, it works.)

Ah, cool. Thanks.

[philc]

As a previous poster noted here in Canada we have $1 & $2 coins already. There is even talk about a $5 coin in the future.

One positive....if you have a change jar at the front-door it can really add up when you drop these little guys in it

It saves our government a lot of money as bills do not last as long, ultimately though consumers seem to prefer Debit.

[macroy]

I rather get 4 $1 bills back than 4 coins back to be honest. I hate coins in general (but that's just me). Then again, I'm starting to hate cash - period.

I'd prefer for every store to start accepting credit cards. And not have me sign either.. that just wastes time (many stores are doing that these days). Yea - some will say its a security thing. But when was the last time someone actually compared your sig with the one on the card?

I really like the idea of RFID on stuff... where you just pick up stuff and walk out. Better for overall security in the long run. And help keep costs down (less shoplifters). I think the main issue is that RFID tags are not cheap enough to do that across the board just yet.

[mdc]

I hate coins. Like macroy said, I would hate to get 4 $1 coins back.
I hardly ever have cash on me since I use my debit card all the time, and when I do get coins, they sit in my pocket until I get home and put them in a big vase; which has about $30 worth of coins in it.

[philc]

Sounds like you guys would be all over Dexit (Cash Alternative)
Dexit� INSTEAD

A few food places downtown Toronto are using it. For small transaction it looks interesting as it is quicker than Debit/Credit cards...

[Shaddim]

Originally Posted by Dakar² 

It's kind of hard to tuck into a girl's thong.

Push deeper.

[Dakar²]

Originally Posted by MacNStein 

Push deeper.

I was hoping someone was going to play off my joke to that end.

[Steve Bosell]

$1 coins are stupid and will never take off. $2 coins like in canada are even more stupid.

[Shaddim]

Originally Posted by Dakar� 

I was hoping someone was going to play off my joke to that end.

Reminds me of a show in Manila. You could give the girl $5 and she'd count you back $3 in quarters.

[Dark Helmet]

Canadians went through the same drama when we switched to first $1 coins and later $2.

I thought the same thing about being too much in my pocket etc but I actually love them.

I hate using those vending machines that suck up bills so the coins are great.

[Benton]

I will apply for an Apple branded Rewards Visa Card. Apple can then receive a byte of my every transaction; a gift which keeps on giving!

[Saetre]

As an American who's lived in Ireland, the UK and Canada, I would love to see us introduce the coins. My favorite is the £1 because it is so easily distinguished from othr coins by it's weight and shape, yet doesn't take up a ton of space in the pocket. The Canadian coins are all too big, but still preferable to paper money, IMO. A plentiful supply of 50 cent pieces would be even more useful.

OT: Does anyone else think the UK 2p coin is a monstrosity? It is gigantic and worthless.

[Judge_Fire]

Meanwhile in Northern Eurozone;

I don't really find a lot of uses for cash around here anymore. Perhaps street musicians, yard sales, some outdoor markets... that's about it.

Vending machines (soda), ticket machines (parking) , tram tickets all increasingly seem to be cell phone payments in this city.

The point about coins lasting longer is a sound economical point, so I'll go with that - no need for a €1 bill.

[Dark Helmet]

Originally Posted by philc 

Sounds like you guys would be all over Dexit (Cash Alternative)
Dexit� INSTEAD

A few food places downtown Toronto are using it. For small transaction it looks interesting as it is quicker than Debit/Credit cards...

IT has been around for a while but the only place i see it is Pizza Pizza and I thought I heard they were getting rid of it.

Are these the only places that support it?

http://www.dexit.com/useit/use_it_where.html

[kmkkid]

Originally Posted by Saetre 

As an American who's lived in Ireland, the UK and Canada, I would love to see us introduce the coins. My favorite is the £1 because it is so easily distinguished from othr coins by it's weight and shape, yet doesn't take up a ton of space in the pocket. The Canadian coins are all too big, but still preferable to paper money, IMO. A plentiful supply of 50 cent pieces would be even more useful.

OT: Does anyone else think the UK 2p coin is a monstrosity? It is gigantic and worthless.

While I agree that our canadian coinage is a bit on the big side, at least it's light, and not nearly as bulky as the british coinage.

[Eug]

Originally Posted by philc 

Sounds like you guys would be all over Dexit (Cash Alternative)
Dexit� INSTEAD

A few food places downtown Toronto are using it. For small transaction it looks interesting as it is quicker than Debit/Credit cards...

Dexit is pretty much useless.

Originally Posted by mdc 

I hate coins. Like macroy said, I would hate to get 4 $1 coins back.

That's why $2 coins are great.

[itai195]

Yes $1 coins are a good idea, but they'll only take off if we get rid of the $1 bill. Coins last a lot longer than bills, and would potentially save the government obscene amounts of money.

[Atheist]

Originally Posted by itai195 

Yes $1 coins are a good idea, but they'll only take off if we get rid of the $1 bill. Coins last a lot longer than bills, and would potentially save the government obscene amounts of money.

Agreed.... the only way the coin will work is if they eliminate the bill. Americans have a funny sentimentality streak in them. Any talk of getting rid of the penny is deemed blasphemous. They've tried two different dollar coins... all to no avail. I'm not sure why they think the third time is going to be different.

[kmkkid]

Nevermind saving the Gov't money by using coins, how about saving the environment? Less paper money = less tree cutting.

[ink]

I use the $1 coin all the time for the train.

I think we need to get rid of the penny and nickel, if anything...

[Demonhood]

the Sacagawea coins never took off because the mint was stupid and only distributed them thru the post office and Wal-Mart. i'd always get that 3 second pause when i paid for something with them. it was almost as much fun as handing them a $2 bill and watching them try to figure out which cash register drawer to put it in.

i'm a big fan of the dollar(s) coins. but none of my friends like them. i think they just dislike the added weight in their pockets. perhaps they just need stronger belts.

[lpkmckenna]

$1 and $2 coins in Canada have been great. Given the cost of things, $1 or $2 is merely "spare change" to be keep separate from the "real money" in my wallet.

[Tuoder]

I don't know if it is going to work, but it would be nice if it did. I liked the idea before. I think the penny should be gone too. It isn't worth anything.

[SSharon]

I don't like carrying around coins now because I don't like the bulk or noise in my pocket. Maybe if we had more dollar coins I would use them. In israel I like having a coins that were worth the equivalent of $1.25 and $2.50. being able to pay for things without taking out my wallet was convenient. I can't pay for anything with nickels and dimes though.

[nonhuman]

Originally Posted by SSharon 

I don't like carrying around coins now because I don't like the bulk or noise in my pocket. Maybe if we had more dollar coins I would use them. In israel I like having a coins that were worth the equivalent of $1.25 and $2.50. being able to pay for things without taking out my wallet was convenient. I can't pay for anything with nickels and dimes though.

$1.25 and $2.50 coins? That's a cool idea.

[indigoimac]

Originally Posted by mdc 

I hate coins. Like macroy said, I would hate to get 4 $1 coins back.
I hardly ever have cash on me since I use my debit card all the time, and when I do get coins, they sit in my pocket until I get home and put them in a big vase; which has about $30 worth of coins in it.

Ditto, I absolutely hate coins, except the quarter, just because it's cool, beyond that I prefer paper bills in any denomination, they are the symbol of America.

[tooki]

In Switzerland, you only get bills in 10 Franc and larger denominations (10, 20, 50, 100, 200, and 1000, to be specific).

Coins fill in for smaller denominations: 1 Rappen (mostly retired, rarely used), 5 Rp (discussion of retiring it is underway), 10 Rp, 20 Rp, 50 Rp (marked 1/2 Fr. on the coin), 1 Franc, 2 Francs, and 5 Francs.

Coins have a lot of advantages: for one, they're a LOT more durable than bills. The upfront cost of minting a coin is high, but it basically lasts forever. Bills wear out quickly and must be replaced frequently, especially small denominations.

Another advantage is the aforementioned ease of authentication in machines*.

Finally, coins are a lot more user-friendly to the blind. (Switzerland has embossed symbols on each banknote, and each denomination is a different length, but coins are still easier to differentiate.)

tooki

*Though this isn't infallible, either: Zurich ran into trouble when smart crooks figured out that a Swiss 5 Franc coin -- worth about $3.50 at the time, and about $4 now -- is almost identical in size and weight to a Russian 1 Ruble coin, worth only pennies. They'd go to public transit ticket machines and buy the cheapest 1.60 ticket, pay for it with a worthless Russian coin that the machine thought was 5 Francs, and then they'd get 3.40 Francs of real change. It cost the transit authority thousands to retrofit the ticket machines with coin readers that could differentiate between 5 Francs and 1 Ruble.

[macroy]

Originally Posted by kmkkid 

Nevermind saving the Gov't money by using coins, how about saving the environment? Less paper money = less tree cutting.

I could be wrong.. but I thought there is no actual "paper" in paper currency. Its more of a cloth(??).

[Judge_Fire]

Then there's the crystal meth issue, which hurts bills.

[nonhuman]

Originally Posted by macroy 

I could be wrong.. but I thought there is no actual "paper" in paper currency. Its more of a cloth(??).

I believe it is 80% cotton fiber and 20% wood fiber, but I could be wrong. At any rate, I'm sure there are more environmentally friendly materials than either.

[kmkkid]

Originally Posted by macroy 

I could be wrong.. but I thought there is no actual "paper" in paper currency. Its more of a cloth(??).

You may be right.

[Eriamjh]

George sure has a big nose.

[Lava Lamp Freak]

Originally Posted by Judge_Fire 

Meanwhile in Northern Eurozone;

I don't really find a lot of uses for cash around here anymore. Perhaps street musicians, yard sales, some outdoor markets... that's about it.

Vending machines (soda), ticket machines (parking) , tram tickets all increasingly seem to be cell phone payments in this city.

The point about coins lasting longer is a sound economical point, so I'll go with that - no need for a €1 bill.

The cell phone payment thing sounds interesting. I've never heard of it before. Is that catching on anywhere else yet?

[tooki]

Originally Posted by macroy 

I could be wrong.. but I thought there is no actual "paper" in paper currency. Its more of a cloth(??).

No, it's just really special paper. According to the United States Treasury Bureau of Engraving and Printing website:

http://www.moneyfactory.gov/document.cfm/18/106
Currency paper is composed of 25% linen and 75% cotton. Red and blue synthetic fibers of various lengths are distributed evenly throughout the paper. Prior to World War I the fibers were made of silk.

tooki

[nonhuman]

Originally Posted by tooki 

No, it's just really special paper. According to the United States Treasury Bureau of Engraving and Printing website:

tooki

I was close...

[Tuoder]

Originally Posted by Lava Lamp Freak 

The cell phone payment thing sounds interesting. I've never heard of it before. Is that catching on anywhere else yet?

I heard about it in scandinavia.

[JoshuaZ]

The cellphone thing is big here in Japan. You can use your phone to buy things out of vending machines (go figure, in Japan) and at most connivence stores (I believe). I've never use my phone for that, as I usually carry around ample change. (plus I can't make heads or tails out of my phone bill)

I love the 100� coins (which is worth about 85 cents right now) and the 500� coins. Not having my wallet stuffed up with all those ones and fives makes life better for me. Plus one 100� coin gets you one arcade play! Glorious arcade fun....

Japanese coins: 1, 5, 10, 50, 100, 500. (The 1 is made of aluminum and you can even get it to float)

I'm all behind ditching the $1 and eventually the $5 bill. Coins would work quite well and last longer. But I think they key would be for the mint to stop making the $1, 2, and 5 bills. Otherwise there would be no incentive for people to change their mindset.

[Railroader]

Originally Posted by Benton 

I will apply for an Apple branded Rewards Visa Card. Apple can then receive a byte of my every transaction; a gift which keeps on giving!

[itai195]

Originally Posted by JoshuaZ 

I'm all behind ditching the $1 and eventually the $5 bill. Coins would work quite well and last longer. But I think they key would be for the mint to stop making the $1, 2, and 5 bills. Otherwise there would be no incentive for people to change their mindset.

The mint doesn't make bills, the Bureau of Engraving and Printing does

The elimination of those bills is something of a political issue, otherwise the US would have done it a while ago. A well-connected paper company in Massachusetts supplies all the paper for US currently and dollar bills are by far the most bills printed, hence they'd stand to lose a lot of business. That's where the well-connected part comes into play

[Tuoder]

Originally Posted by JoshuaZ 

The cellphone thing is big here in Japan. You can use your phone to buy things out of vending machines (go figure, in Japan) and at most connivence stores (I believe). I've never use my phone for that, as I usually carry around ample change. (plus I can't make heads or tails out of my phone bill)

I love the 100� coins (which is worth about 85 cents right now) and the 500� coins. Not having my wallet stuffed up with all those ones and fives makes life better for me. Plus one 100� coin gets you one arcade play! Glorious arcade fun....

Japanese coins: 1, 5, 10, 50, 100, 500. (The 1 is made of aluminum and you can even get it to float)

I'm all behind ditching the $1 and eventually the $5 bill. Coins would work quite well and last longer. But I think they key would be for the mint to stop making the $1, 2, and 5 bills. Otherwise there would be no incentive for people to change their mindset.

How exactly does it work, exactly?

[SirCastor]

taxes I find make dollar coins rather worthless. I can carry more $1 bills.

[Tuoder]

Originally Posted by SirCastor 

taxes I find make dollar coins rather worthless. I can carry more $1 bills.

How do taxes make dolar coins useless?

[Gamoe]

I actually like dollar coins, but like most everyone else, have found them to be rare in the everyday. I even went to a bank to change some coins and dollar bills for dollar coins and was told that they didn't have any and I'd have to go to another location to get them, which then didn't have them (after I waited at least an hour in line, of course).

Still, in practice I carry dollar bills and credit cards more often, but if these become readily available, I wouldn't mind carrying some of these new coins as well.