Ditching paper money for coins altogether?

[CommonSensePLZ]

http://www.aolnews.com/2011/03/07/us-wants-to-take-your-dollars-and-replace-them-with-coins/

Hmm, interesting idea. How does everyone feel about such an idea?

I think:

-It might be easier to counterfeit coin money since all you'd need is the right metals and to cast a mold which is illegal so don't do it! Whereas the design and anti-counterfeiting details in paper money makes it much harder.

-Might not be as convenient as carrying large amounts of money. With a bill I have the equivalent of $100 in one single note without a bunch of heavy, noisy chinging things.

-I like that coin money lasts so much longer than paper, so it might be cheaper and greener long-term. It makes me wonder why we ended up with paper (if you know that story kindly share)

-I've always felt that coin money was underrated. For instance Matt Groening made fun of the Sacagawea dollar in an episode of The Simpsons and compared to a quarter. I liked the idea of her, a Native American, on the gold dollar, that's respect in our gold-obsessed society. And I hate how hard it is to find half dollars! x(

--The fact that we've already been playing around with coin money really does show that this idea isn't new and that they've wanted to familiarize us with the idea.

[derby378]

1. I do think we need a new design for the dollar coin

It still looks and feels too much like a quarter.

Honestly, what is the aversion to square coins or 12-sided coins? Designers of coin-op machines can learn to adapt like they always have before.

[CommonSensePLZ]

3. But it does clearly weigh more

than a quarter, and it has a smooth edge instead of a rough one like a quarter. Though your idea is good too, I don't particularly see a reason for all of our coins to be round.

[Kennah]

2. Pardon my ignorance ...

... but in this economy what's paper money?

Only some :sarcasm:

[shraby]

4. Have you ever carried around a purse that has gradually

loaded up with coins till your walking at a 45 degree list? It gets darned heavy really quick! Imagine having all your money in coin. How would you carry it around?
Some of us don't and won't "do" credit cards or debit cards.

[LoveIsNow]

7. You would spend it.

And then it would get less heavy. It's pretty easy. Think of how many one dollar bills you carry around on a day to day basis. Then replace those with coins. It's not much of a difference in weight anyhow. If you let them fester around in your purse, of course they're going to get heavy. Maybe having a coin with some real value, like a dollar, in there will motivate you to put your hand in there and take a few out at the checkout in stead of letting them build up and wasting money.

[MrModerate]

5. Sometimes it pays to *not* listen to the people . . .

I have long despaired over the lack of nerve the government has shown on this issue.

Stop printing $1 bills. Make coins. Be done with it. Let the teabaggers complain about their autocratic government running roughshod over their founder-given rights to a $1 bill. They'll just look sillier than they do now (if possible).

[Tx4obama]

6. It won't happen. They weigh too much compared to dollar bills.

As it is now banks already don't like to deal with coinage.
Also, paper dollar bills are easier to deal with in the paper money counters.
A box of dollar bills is a hell of a lot lighter than a box of coin.

[CommonSensePLZ]

10. 100-dollar coin? nt

[Motown_Johnny]

12. is there any need to walk around with a box full of 100 dollar bills?

Why not simply use a debit or credit card, or a check?


I could argue that there is little to no need for physical money at all now (although I would not be completely sincere). A more advanced type of debit card could be phased in for all transactions. Even some cell phones now can take credit/debit card transactions so if you needed to loan your friend twenty bucks you could do it with your phone. Living with only electronic money is a possibility and in the long term may even be an eventuality.


I agree with your statement that it won't happen, at least not in anything like the foreseeable future. Not because of the weight of the currency but simply because people are afraid of change. (Change, get it?)

[CommonSensePLZ]

19. Electronic $ can be a rip-off

So many people got burned by credit cards. Then when people got smart about them and laws tightened up they switched the game over to debit cards and made it easier to overdraft, many lawsuits have been launched recently that interestingly our media never talks about. They even at ATMs an some markets charge an "electronic transaction fee".

[alphafemale]

8. I hate pocket rocks.

I rarely carry any cash at all though. It's easier to keep track of spending if it's totally debit.

But I actively loathe the pocket rocks. Keep some in car for tolls and that's it.

[WingDinger]

9. Wont work. a wheelbarrow full of bills for a loaf of bread would weigh a ton!

[Johonny]

11. the future clearly is in electronic money

1 and 0s. Most people pay for nearly everything already with 1 and 0s. Only at farmers markets do you still need cash around here and some of them thanks to smart phones can read credit cards and such.

[northoftheborder]

13. Luddite here. still use cash, checks, credit cards. no debit cards.

I can see a reasonable argument for 1$ coins, but no higher.

[bigwillq]

14. Not a fan of coins.

So not a fan of this idea.

[WinkyDink]

15. I call first dibs on the wheel-barrow franchise!

[David__77]

16. I carry neither cash nor coin.

Won't do it. So I guess I don't care, but I think I prefer paper - anything that is lighter and less conspicuous. I don't want bulk in my pocket.

[madinmaryland]

17. Don't think so. How would a Charlie Sheen do cocaine??

[MikeW]

18. not a fan of coins at all

heavy, they take up room and slosh around in my pocket.

Id be happy if they got rid of change altogether and just had the paper dollar.

[roamer65]

20. I like Australia's $1 and $2 coins.

The $2 coin is smaller than the $1. They've gotten rid of the 1c and 2c coins and round up to nearest 5c.

[Taverner]

22. And don't forget Canada's Loony and Twoney...

[roamer65]

23. The twonie is too big...IMHO.

$30 of pocket change is much worse in Canada than Australia.

Australia was interesting in that they have a very big 50c coin and they actually use it. Vending machines took it, too.

Their polymer notes are absolutely amazing. I don't think they could be successfully conterfeited.

[Taverner]

21. Any kind of paper can be reproduced

However coins with chips - different story

[CommonSensePLZ]

24. Well, well, it seems we already had coin money

Like a hundred or two years ago.

$2.50, $3, $4, $5, $10, $20 pieces, even a $50. There was even a plan for a $100 piece previously called a (Full) Union.

http://en.wikipedia.org/wiki/Gold_dollar#External_links

Moar: http://en.wikipedia.org/wiki/Dollar_%28United_States_coin%29

[On the Road]

25. This is the Big Savings -- $6.1 Million a Year?

...and over 30 years, it would save taxpayers an annual $184 million.

Now if they could find 228,000 similar cost-cutting measures, we could balance the budget.