Will the Greenback be Replaced by the Dollar Coin?

The House and Senate each have introduced legislation that would replace the dollar bill with a $1 coin.

Read more: http://www.foxnews.com/politics/2012/03/22/fight-to-switch-to-1-coin-from/?test=latestnews#ixzz1ptG01brL

If this bill is passed it will make it somewhat awkward to give a tip at a Gentleman's club unless you want to start handing out fivers...

This has been tried before, but usually the districts where they print paper dollars harass their congressman until the bill dies. I wouldn't mind seeing this pass. Got used to euro coins when I was over there.

they will likely just split the difference and this time around use the issue to justify getting rid of the pesky cash all together.

Strippers & fivers instead of dollars? Inflation, single moms got to eat too.

Will people start hoarding paper dollars if they stop printing them?

I hope so... and we need a 2 dollar coin... the US is so far behind in modernizing their currency. All the fancy security features that we've introduced over the last decade has been in place and used by most countries world wide for many years. And a dollar coin (hopefully a bimetal one) is almost impossible to counterfeit and saves a whole lot of money because they last many times longer than paper specie.

FredHayek wrote: Strippers & fivers instead of dollars? Inflation, single moms got to eat too.

I support single moms all over the country, I just prefer to do it one dollar at a time over the course of my stay. The elimination of the paper dollar could bring a curious new meaning to the term "coin operated."

The Liberals GOP Twin wrote: I hope so... and we need a 2 dollar coin... the US is so far behind in modernizing their currency. All the fancy security features that we've introduced over the last decade has been in place and used by most countries world wide for many years. And a dollar coin (hopefully a bimetal one) is almost impossible to counterfeit and saves a whole lot of money because they last many times longer than paper specie.

Is it possible to have paper specie? I thought specie was defined as money in coin.

Does anyone know if either of the bills call for putting a dollar's worth of metal in the dollar coin and thus start us back onto a road of actually having a stable specie? Specie does derive from the latin for "in kind" after all, so our coins should have contained in them a value equal to that which they are minted to represent. When we were minting double eagle gold coins the value of their metal content was equal to the denomination, $20, that the coin represented. I don't care if it's a dollar's worth of coin silver with nickel cladding or a dollar's worth of chromium steel - the dollar coin should have a dollar's worth of metal.

PrintSmith wrote:

The Liberals GOP Twin wrote: I hope so... and we need a 2 dollar coin... the US is so far behind in modernizing their currency. All the fancy security features that we've introduced over the last decade has been in place and used by most countries world wide for many years. And a dollar coin (hopefully a bimetal one) is almost impossible to counterfeit and saves a whole lot of money because they last many times longer than paper specie.

Is it possible to have paper specie? I thought specie was defined as money in coin.

Does anyone know if either of the bills call for putting a dollar's worth of metal in the dollar coin and thus start us back onto a road of actually having a stable specie? Specie does derive from the latin for "in kind" after all, so our coins should have contained in them a value equal to that which they are minted to represent. When we were minting double eagle gold coins the value of their metal content was equal to the denomination, $20, that the coin represented. I don't care if it's a dollar's worth of coin silver with nickel cladding or a dollar's worth of chromium steel - the dollar coin should have a dollar's worth of metal.

Should, could, would have... give it a rest PrintSmith... you're a prime example of why the libertarian party is... and always will be... the party of the future. Things change and there's a large difference between what you claim the way it should be and the reality of the way it is. And you could go on for paragraph after paragraph explaining the reasons behind you thoughts, but guess what... there has been over 225 years of thought, before you, thinkers who had a lot more experience at politics than you ever will. Things change, get use to it. MY grandmother use to cut her own apples for pie, if she was alive today, she would take advantage of a store made pie. Like money... it's all perception... money has value if it's accepted in trade. The metals market is as susceptible to variations in value as a piece of paper backed by nothing is.

And anyway, this discussion is about modifying the type of coinage and banknotes we currently use. If you have a problem with our monetary system, then don't use the damn things.

Wonder what the cost of coin manufacturing to paper man. difference is?
Freind works at the mint said they spend a buttload on repair and just dumped a fortune on new machinery.

Glory I hope they don't do it!! My purse is heavy enough as it is!!