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When Will The US Get Rid Of The Dollar Bill?  
User currently offlineSwatpamike From United States of America, joined May 2004, 581 posts, RR: 0
Posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4429 times:

Hello all

Having come back from my UK holiday last month. And liking the 1&2 pound coins, my question is when will the US get rid of the paper dollar bill? I would think that it would be a cost savings.

I love to use the Golden Dollar features Sacagawea. This really screws people up sometime although not as much as when I use the Susan B Anthony coin.

Your takes?

Cheers

swatpamike

55 replies: All unread, showing first 25:
 
User currently offlineUTA_flyinghigh From Tunisia, joined Oct 2001, 6495 posts, RR: 50
Reply 1, posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4424 times:

What does a dollar coin look like ?

UTA  checkeredflag 



Fly to live, live to fly - Air France/KLM Flying Blue Platinum, BMI Diamond Club Gold, Emirates Skywards
User currently offlineSwatpamike From United States of America, joined May 2004, 581 posts, RR: 0
Reply 2, posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4421 times:

Quoting UTA_flyinghigh (Reply 1):
What does a dollar coin look like ?

http://www.usmint.gov/mint_programs/...ndex.cfm?action=golden_dollar_coin


cheers

swatpamike


User currently offlineFlyf15 From , joined Dec 1969, posts, RR:
Reply 3, posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4420 times:

I hope we get rid of the penny....

User currently offlineAerorobnz From Rwanda, joined Feb 2001, 7260 posts, RR: 13
Reply 4, posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4414 times:

Even if they don't switch to coins they should at least change to polymer notes like we have in Australia,New Zealand and the EU. That's what I hated about the UK notes, they still made them out of paper, and the notes got tatty easily, not to mention if you leave them in your trousers and they go in the wash you cannot use them.

User currently offlineUSAFHummer From United States of America, joined May 2000, 10685 posts, RR: 52
Reply 5, posted (9 years 6 months 1 week 3 days 12 hours ago) and read 4408 times:

Quoting Aerorobnz (Reply 4):
Even if they don't switch to coins they should at least change to polymer notes like we have in Australia,New Zealand and the EU.

I dunno what our bills are made of, but I can assure you through recent first-hand experience that they have no trouble handling a trip through the washer and dryer...

Greg



Chief A.net college football stadium self-pic guru
User currently offlineBill142 From Australia, joined Aug 2004, 8457 posts, RR: 8
Reply 6, posted (9 years 6 months 1 week 3 days 11 hours ago) and read 4401 times:

Quoting Aerorobnz (Reply 4):
Even if they don't switch to coins they should at least change to polymer notes like we have in Australia,New Zealand and the EU. That's what I hated about the UK notes, they still made them out of paper, and the notes got tatty easily, not to mention if you leave them in your trousers and they go in the wash you cannot use them.

I agree. The polymer notes are alot more durable, and not to mention harder to counterfeit.

Quoting USAFHummer (Reply 5):
I dunno what our bills are made of, but I can assure you through recent first-hand experience that they have no trouble handling a trip through the washer and dryer..

I saw a show about it once and it uses a secret (like everything in the USA its top secret) mixture of paper pulp, wool and a few other ingredients.


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 7, posted (9 years 6 months 1 week 3 days 11 hours ago) and read 4397 times:

Quoting Aerorobnz (Reply 4):
Even if they don't switch to coins they should at least change to polymer notes like we have in Australia,New Zealand and the EU. That's what I hated about the UK notes, they still made them out of paper, and the notes got tatty easily, not to mention if you leave them in your trousers and they go in the wash you cannot use them.

There was a story not so long back that the Bank of England were considering issuing polymer £5 notes to replace the current paper ones. They've since denied it, but it would seem reasonable to suppose that it must be under consideration.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineKlaus From Germany, joined Jul 2001, 21484 posts, RR: 53
Reply 8, posted (9 years 6 months 1 week 3 days 9 hours ago) and read 4373 times:

€uro notes are cotton paper, and they do withstand machine washing, of course.

User currently offlineAerorobnz From Rwanda, joined Feb 2001, 7260 posts, RR: 13
Reply 9, posted (9 years 6 months 1 week 3 days 9 hours ago) and read 4369 times:

Quoting Banco (Reply 7):
There was a story not so long back that the Bank of England were considering issuing polymer £5 notes to replace the current paper ones. They've since denied it, but it would seem reasonable to suppose that it must be under consideration.

Yeah they were talking about it when I was living in London. That said, at the pub I worked at the punters were still trying to pass off 'old' £5 instead of the new ones, so you can imagine what they'll be like if the polymer notes come along.

Quoting Bill142 (Reply 6):
I agree. The polymer notes are alot more durable, and not to mention harder to counterfeit.

absolutely. I got good enough at recognising counterfeit banknotes from cash handling all day every day in the pub, and forgeries trying to be passed off daily and I can assure you that there are absolutely millions of fake £20 & £50 notes in general circulation(very often the scottish ones in London too).
We had one guy come into the pub from using the abbey national ATM down the road, and out of the £200 in 20s he got from the machine, only 4 of them were real. A couple of them were so good that they only failed one of the many tests to check if it's real.
Others on the otherhand were basically just scanned/photocopied. There are a lot of dud pound coins in circulation too. I kept telling people that they should adopt the Euro just so they get decent unforged polymer notes....lol Nothing like a being a cheeky antipodean..


User currently offlineKlaus From Germany, joined Jul 2001, 21484 posts, RR: 53
Reply 10, posted (9 years 6 months 1 week 3 days 9 hours ago) and read 4362 times:

Aerorobnz: I kept telling people that they should adopt the Euro just so they get decent unforged polymer notes....

I guess yet another false rumour about the €uro won´t hurt any more...  crazy 


User currently offlineAerorobnz From Rwanda, joined Feb 2001, 7260 posts, RR: 13
Reply 11, posted (9 years 6 months 1 week 3 days 9 hours ago) and read 4357 times:

Quoting Klaus (Reply 10):
I guess yet another false rumour about the €uro won´t hurt any more..

It can still be done, but you need to have better equipment to pull off a decent forge. with Paper it only takes a scanner and a decent printer with textured paper.


User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 12, posted (9 years 6 months 1 week 3 days 8 hours ago) and read 4347 times:

Quoting Klaus (Reply 8):
€uro notes are cotton paper, and they do withstand machine washing, of course.

But only if you use the "Cotton" setting, and add fabric softener  Smile


User currently offlineKlaus From Germany, joined Jul 2001, 21484 posts, RR: 53
Reply 13, posted (9 years 6 months 1 week 3 days 8 hours ago) and read 4345 times:

Aerorobnz: It can still be done, but you need to have better equipment to pull off a decent forge. with Paper it only takes a scanner and a decent printer with textured paper.

No, I was referring to the fact that the €uro notes are not polymer-based but use a special cotton paper instead. And no, it takes a lot more than simply "textured paper" to "properly" forge €uro notes.

http://www.ecb.int/bc/banknotes/security/recognise/html/index.en.html


JGPH1A: But only if you use the "Cotton" setting, and add fabric softener

Good to know... Haven´t actually tried it myself yet... Big grin

[Edited 2005-04-14 13:03:13]

User currently offlineLekohawk From United States of America, joined Feb 2005, 159 posts, RR: 0
Reply 14, posted (9 years 6 months 1 week 3 days 8 hours ago) and read 4340 times:

There is no wool in US paper currency. It's cotton based (like the Euro).


If only closed minds came with closed mouths.
User currently offlineAerorobnz From Rwanda, joined Feb 2001, 7260 posts, RR: 13
Reply 15, posted (9 years 6 months 1 week 3 days 8 hours ago) and read 4336 times:

Quoting Klaus (Reply 13):
No, I was referring to the fact that the €uro notes are not polymer-based but use a special cotton paper instead. And no, it takes a lot more than simply "textured paper" to "properly" forge €uro notes.

you learn something new everyday, I was aware that it euros don't feel like our polymer notes, but some denominations to me feel more 'polymerish' than others. I just put it down to a slightly different method. It makes sense to me now, I do remember getting a few crumpled notes. Even so, I still maintain that polymer notes are the best...


User currently offlineNWADC9 From United States of America, joined May 2004, 4897 posts, RR: 10
Reply 16, posted (9 years 6 months 1 week 3 days 7 hours ago) and read 4316 times:

Ok, you want us to get rid of paper currency? I'd love to see you walk around with 100 golden dollars then! That's the reason why we have paper currency-coins are very heavy when you have a lot.


Flying an aeroplane with only a single propeller to keep you in the air. Can you imagine that? -Capt. Picard
User currently offlinePHLBOS From United States of America, joined Mar 2004, 7533 posts, RR: 24
Reply 17, posted (9 years 6 months 1 week 3 days 4 hours ago) and read 4278 times:

Quoting Swatpamike (Thread starter):
And liking the 1&2 pound coins, my question is when will the US get rid of the paper dollar bill? I would think that it would be a cost savings.

I love to use the Golden Dollar features Sacagawea. This really screws people up sometime although not as much as when I use the Susan B Anthony coin.

Like the Susie B. dollar before it, the Sacagawea coin suffered the same fate as being too close in size to the quarter. A dollar coin might be more successful had the $2 bill been brought back into mass circulation along side it (I received a genuine 2003 series $2 bill at the Oregon State Fair last year so it is still being made). In both of the Susie B. and Sacagawea coin launches, the Jefferson $2 bill was not pushed into greater circulation and usage.

That being said, when I started seeing newer $1 bills, that lead me to believe that the golden $1 coin was a flop and that the old Washington single will keep being made. Another question would be, if that is indeed the case; will the dollar bill receive a similar redesign as the other currency denominations (5, 10, 20, 50, 100)?



"TransEastern! You'll feel like you've never left the ground because we treat you like dirt!" SNL Parady ad circa 1981
User currently offlineSlamClick From United States of America, joined Nov 2003, 10062 posts, RR: 68
Reply 18, posted (9 years 6 months 1 week 3 days 4 hours ago) and read 4280 times:

I think more planning is going into doing away with physical currency and specie altogether than in protecting it from counterfeiting. We will one day be a society where all transactions will be electronic. That is where everyone's attention is focused.

Quoting Swatpamike (Thread starter):
I love to use the Golden Dollar features Sacagawea.

Then you should be able to name the baby on her back! (favorite trivia question)



Happiness is not seeing another trite Ste. Maarten photo all week long.
User currently offlinePHLBOS From United States of America, joined Mar 2004, 7533 posts, RR: 24
Reply 19, posted (9 years 6 months 1 week 3 days 4 hours ago) and read 4270 times:

Quoting SlamClick (Reply 18):
I think more planning is going into doing away with physical currency and specie altogether than in protecting it from counterfeiting. We will one day be a society where all transactions will be electronic. That is where everyone's attention is focused.

We could very well be what was prophesied in Revelation Chapter 13 come to pass. Can we say 666?



"TransEastern! You'll feel like you've never left the ground because we treat you like dirt!" SNL Parady ad circa 1981
User currently offlineFlymia From United States of America, joined Jun 2001, 7212 posts, RR: 9
Reply 20, posted (9 years 6 months 1 week 3 days 4 hours ago) and read 4264 times:

I hate change. It easy to lose and hard to count and fit in a wallet and all. The dollar bill is great. Hope they never get rid of it.


"It was just four of us on the flight deck, trying to do our job" (Captain Al Haynes)
User currently offlineLTBEWR From United States of America, joined Jan 2004, 13138 posts, RR: 15
Reply 21, posted (9 years 6 months 1 week 3 days 4 hours ago) and read 4260 times:

We in the colonies seem to be very attached to the paper $1 note. For over a century we had $1 coins of a considerable size, much larger than other coins. Originally of gold then of silver, they became compsite coins in the 1960's with Benjman Franklin's profile on them. After the conversion in the 1960's, most Silver Dollars still in circulation after the became hoarded. As noted before, the SBA and Sacawagea $1 coins were both too close to the quarter in size (around and thickness) so not popular. Also businesses don't like them either in their cash registers. The most common use of dollar coins in the USA today is in casino slot machines, although casino issued tokens with security features and magnetic strip cards are replacing coins. You also see them used as change with train and bus ticket vending machines.
We also have a $.50 coin the 'JFK' coin, issued since 1964, and that was larger than the SBA/Sacawagea $1 coin. They too are rarely seen in circulation.
Some of you mentioned the $2 paper note/bill. This is mostly a collector's item and rarely seen as inconvenient for business cash registers. It used to be more popular earlier in the 20th Century, and was actually discontinued for a while. It was popular like a $5 or $10 bill is today. Another problem with the $2 note is a bit of history, as $2 was the popular price for the services of a prostitute in the early part of the 20th Century in the USA.
We are also wierd in that all of our paper money is the same standard size. Most paper money of almost all countries has smaller notes for smaller demoninations, and larger for larger demoninations.


User currently offlineSlamClick From United States of America, joined Nov 2003, 10062 posts, RR: 68
Reply 22, posted (9 years 6 months 1 week 3 days 3 hours ago) and read 4256 times:

Quoting LTBEWR (Reply 21):
Most paper money of almost all countries has smaller notes for smaller demoninations, and larger for larger demoninations.

At least we know what size to make wallets.

The $1 bill is probably a vestige of the day when a dollar was a significant amount of money. At one time $1 would buy you an Ingersoll pocket watch. Now it won't buy a candy bar.

A better solution than new currency is to do whatever it takes to stop inflation.



Happiness is not seeing another trite Ste. Maarten photo all week long.
User currently offlineKlaus From Germany, joined Jul 2001, 21484 posts, RR: 53
Reply 23, posted (9 years 6 months 1 week 3 days 3 hours ago) and read 4244 times:

SlamClick: At least we know what size to make wallets.

Easy: Large enough for the €500,- note!  bigthumbsup 

The old Mark coins were a bit weird as well... With the DM-,50 coin smaller than the DM-,10 one.

I´m glad the €uro made them systematic again (including €1,- and €2,- coins, the smallest note is €5,-).


User currently offlineAeroWesty From United States of America, joined Oct 2004, 20728 posts, RR: 62
Reply 24, posted (9 years 6 months 1 week 3 days 3 hours ago) and read 4238 times:

Getting rid of the $1 bill will be harder than introducing the $2 bill was. They tried giving the 2's as change on the Golden Gate Bridge for tolls (don't know if they do any longer), just to move them from the U.S. Mint, but we still don't see them in circulation much. Then they tried filling stamp machines at the Post Office with the $1 coins for change, and that must not have worked either, because my local post office won't even accept them as valid currency in the new machines any longer.

The dollar is just too sacrosanct to too many people (not me, though) to screw with it much, other than to update it to prevent counterfeiting.

A number of years ago Holland just merely banished the use of their equivalent to a penny coin, and cash transactions were rounded to the nearest .05. When Americans are ready to accept something like that on a nationwide basis, then we'll see some real changes to our paper and coinage.

Meanwhile, we're too busy collecting state quarters to care.



International Homo of Mystery
25 Pendrilsaint : I don't think the dollar being sacrosanct has much to do with it. If anyone has ever vacationed in Canada or used a 20 to buy a 5 dollar ticket on the
26 Captoveur : the dollar bill is something like 75% cotton, making it pretty high grade paper. Trust me they do stand up to washing, I have laundered my money many
27 Post contains images ANCFlyer : I hope they never get rid of the $1 bill . . . I'd rather haul around 100 $1 bills than 10 $1 coins. They are a pain in the ass. I routinely deposit m
28 PHLBOS : From my earlier post: I received it as change from a vendor on the fair grounds.
29 AeroWesty : From what I've read before on this, the cost of producing the $1 is pretty high, all things considered, and it's why the Mint has been trying various
30 Post contains links AeroWesty : Ah, found it. The word is "seigniorage". Interesting article from the S.F. Chronicle on why not to get rid of the penny, too: http://www.sfgate.com/cg
31 ANCFlyer : I'm sure you're right. I just see no need to do so. Furthermore - what's the cost in producing those still worth only 25 cents state commemorative qu
32 Sabena332 : I love the 1$ bill, I really wish that they would introduce 1€ bills here, much better than having a wallet full of coins. Patrick
33 Klaus : I simply spend the coins... I don´t know what the big deal is. I´d hate having to use €1,- bills. Bank notes are practical for larger increments,
34 Post contains images DL021 : OK...newsflash...the US Government has just placed me in charge of collecting all the $1 bills in circulation. Please take up all your ones and send t
35 Post contains images NWADC9 : Ohhh, I'm tellin' on you
36 AeroWesty : (I was actually in agreement with you, just presenting what the "other side" uses for their rationale.)
37 Post contains images ANCFlyer : Oh hell, don't tell anyone we agreed on something - they'll be ice skating in Hades! Wonder what the cost is of continuing to produce the $1 bill vic
38 N1120A : Hey, ANCFlyer, Sic 'im Actually, the difference in life span of a 1 dollar coin v. a 1 dollar bill is the main reason the Mint wants to dump the pape
39 Post contains images AeroWesty : (I'll endeavor to not let it happen again, as long as you keep up your side of the bargain.)
40 Post contains images KaiGywer : Why would you carry around 100 $1 bills anyways? That's why there are higher denominations. Personally, I hate cash and only use it as a last resort.
41 TedTAce : I believe that we are going to electronics as soon as we can get rid of the nut jobs that keep hacking our personal data and the ACLU!! Don't Get me
42 Aerorobnz : All my transactions are done electronically via EFTPOS already. They send me out a detailed list of every transaction I make each month so even if so
43 Swatpamike : Ok, I will have them for you in Paris on June 19. If you are not there I will send them all to Steve. ") Cheers swatpamike
44 MD-90 : We should never give up physical currency. Doing so will give the state yet another means to track the movements of its subjects. And the $1 bill is a
45 PHLBOS : One can also receive $1 coins (both types) as change at some transit agency's (at least with SEPTA & PATCO) ticket/token vending and change machines.
46 NYCFlyer : You beat me to it. The only place I have ever seen a golden one dollar coin is when receiving change from the token machine in the NYC subway. But th
47 PHLBOS : I got a $1 coin out of a box of Cheerios a few years ago; it was part of a usage promotion.
48 Airways1 : For those who think the $1 bill is ridiculous, you should take a trip to China. Here there are bills worth 1 fen, or about 0.12 cents! (Yes, 8 of them
49 ANCFlyer : WalMart gave them as change when they were first issued, I guess they assisted the guvment in getting them in to circulation. I traded them in for pa
50 CaptOveur : that would make your milk taste a little funky. imagine if someone swallowed it? Talk about a plinker when it came out.. geez.
51 Post contains images PHLBOS : CaptOveur, I speak the truth. This is how it came out. They also threw in a shiny new (2000) penny.
52 Seb146 : The Sacagawea $1 are *not* the same size and thickness as quarters. SBAs are. I heard that was a main consideration when the coin was in the planning
53 Swisskloten : I have an idea. Why not just make a $2 coin? Make the size somewhere between the quarter and the half-dollar coin and put a small hole in the center.
54 Post contains images Da man : I routinely ask for and receive $2 bills when I make withdrawals and cash checks at my local bank. I just love to look at the faces of the clerks at s
55 Pilotpip : 54 posts and nobody has thought about this one. If we get rid of dollar bills, what will strippers do? I mean, how could they carry around all those c
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