I was just reading about the "life of currency"

There was five cent paper currency during the Civil War. Common folks on both sides hoarded coins for their silver content and many merchants were unable to make change. government issued paper money- Fractional Currency, as it is now known. There were 5C, 10C, 25c and 50C bills issued. Later they dropped the 5C notes but continued issing the others thru the mid-1870s.
The first paper currency was actually issued during the War of 1812, and many banks issued their own money thru the 1870s.
I have a 25-cent note from the civil war era. I also have a $3 bill issued by a bank in Atlanta pre Civil War.
Screw converting paper dollars to coins! Metal prices are rising every day. Converting machines to accept dollar or two dollar coins instead of the bill readers that are already in place would put an additional expense burden on many small businesses that rely on machinery for monetary exchanges. This is not the time to retool every soda vending machine money receptacle to accept a different type of currency.

...and anyone who thinks coins are cleaner than bills never played slots when they all had coin trays. When the machines went TITO, moist towelettes that were all over the place to clean the black residue off your hands from handling coins were no longer needed.
I am certain that Bob is correct that there is as much filth on coins as there is on paper money.

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Originally posted by: BobOrme
Screw converting paper dollars to coins! Metal prices are rising every day.
Maybe so, but coins are still far more cost effective than paper dollars, mostly because they last so much longer, and because coins can be melted down and reminted if need be rather than shredded and dumped into landfills after a few months.

Dollar bills are 75% cotton, and cotton prices are at an all-time high. That's a big reason why printing a $1 bill in 2010 cost 50% more than it cost to print that same bill in 2008.
Quote

Originally posted by: BobOrme
Converting machines to accept dollar or two dollar coins instead of the bill readers that are already in place would put an additional expense burden on many small businesses that rely on machinery for monetary exchanges. This is not the time to retool every soda vending machine money receptacle to accept a different type of currency.
Most modern vending machines already accept dollar coins. Moreover, it's super easy to add that ability to older machines. Plus, bill acceptors suck, are expensive to maintain, suck, don't work, and suck suck suck.

Quote

Originally posted by: BobOrme
...and anyone who thinks coins are cleaner than bills never played slots when they all had coin trays. When the machines went TITO, moist towelettes that were all over the place to clean the black residue off your hands from handling coins were no longer needed.
You're talking about the dirty coin trays that collected cigarette ashes. Those are long gone nowadays, replaced by TITO systems. Those coin trays aren't coming back, even if the $1 bill dies. You're really grasping now.

Save the government money: convert to dollar coins now!
gosh.... I didnt realize this topic of bills vs coins was so passionate!?!?!
Like the British pound. Even though it is between and nickel and a quarter its thickness makes it easy to identify.
I've been using dollar coins since mid 2009. I buy them in "bulk" (Lots of 250), get free shipping, and save 1 1/2% off face value.

Originally got them to use as tips in Vegas to make it easy to track where my pocket cash went. But I liked them so much, I continue to use them, and reorder more when my supply dwindles.

roadtrip, that is an interesting program that the Mint has, and it was designed to help promote the use of the dollar coins. since you are a regular user, perhaps you can tell us about the "acceptance" or lack of acceptance when you use them at stores, etc.

roadtrip is this the Mint program your are talking about? link to Mint website
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Originally posted by: MoneyLA
roadtrip, that is an interesting program that the Mint has, and it was designed to help promote the use of the dollar coins. since you are a regular user, perhaps you can tell us about the "acceptance" or lack of acceptance when you use them at stores, etc.

roadtrip is this the Mint program your are talking about? link to Mint website


Yes, that is the program. I pay with a card that gives me 1.5% cash back, so I love the "deal". It's an advantage play.

I usually carry either a roll, or half roll in my pocket. I actually use a pocket knife and neatly cut a roll in half, 12-13 coins per to carry a half roll. By keeping about a half roll in my pocket, they are compact, not a nuisance. And, I "always" have plenty of "ones" when I need them. No coins jangling.

I do not have any difficulties spending them. My primary use of the coins is for bus fare, and tipping. When I use them to tip, I sometimes tell the server that these are the new dollar coins, I am not giving her quarters so be careful.

I do not pay cash in most stores. Again, I'm so frugal that I use a card for practically every purchase I make just to "save" that penny and a half per dollar. On the occasions where I do choose to spend cash, I have not had any adverse reactions to the coins.

Well, once that I remember now that I think of it.....

I did have a cab driver I paid with them... $7.00 ( $5.50 fare) who got real excited, thought I was giving him quarters I guess, yelled at me in his pidgin English...... "pay me rest my money I call POLICE!"(To be politically correct, a foreigner) Had big eyes and looked really angry. IMO, cartoonish, but you'd have to be there. Had a real attitude and got real excited over it. Thought I was "stealing" from him.

I actually laughed at him, said that is all I am giving you, and walked into my home. Left the outside lights on in case the cops did come. He sat outside for quite awhile, than eventually left. I don't know if he did call the cops, his dispatcher, or what. But he was there for a good 15 minutes or more after I came inside.

Damn, he never did thank me for that 20%+ tip!

Overall I like using them and have no negative results or feedback. Have had some servers ask me if they could "buy" another from me.

Since mid 2009, I've used a total of almost $6K. I'd like to take this moment to thank our government for the free $90.00.

I'm down to my last roll or two now. Probably will re-order again this month.



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