$1 coins!
Mood: excited
Posted on 2008-12-07 13:52:00
Tags: dollarcoins
Words: 95

This afternoon we went to the Arboretum Barnes & Noble to do some Christmas shopping. As we pulled up and walked there from the parking lot, there was some music blaring from a truck or something. It turns out the US Mint was there promoting the 1 dollar coins! For real.

Of course I had to check it out. They had four people and a bunch of shirts and they said I could get a shirt if I traded in a $20 for 20 dollar coins! So I did, and here's why dollar coins are awesome!

14 comments

Comment from quijax:
2008-12-07T14:00:59+00:00
I'll say it again: if the US gov't wants us to use the dollar coins, they have to stop making the dollar bills. If they give us a choice, we're going to use what's familiar.

Comment from flamingophoenix:
2008-12-07T14:31:33+00:00
And also what's lightweight. I don't carry change, ever. I barely even carry cash (though I do carry some). I don't object to the $1 coins -- in fact, since they *seem* to be environmentally sounder than dollar bills (longer shelf life), I think I support them -- but in my household, they will meet the same fate as quarters: tollbooth cup and/or roll jar. (Non-quarter coins just go straight to the roll jar.)

Comment from abstractseaweed:
2008-12-07T15:11:59+00:00
Agreed. As it is, since we have bills, it's the norm to carry cash in a wallet. Men are not allwed to carry purses without getting strange looks. If there were no bills, then men would not be able to carry cash in wallets and small bags could become socially acceptable for men to carry.

Comment from onefishclappin:
2008-12-07T15:16:50+00:00
How many dollar bills do you really carry at one time? One or two or three. Easy enough for a pocket or coin slot in a wallet. You can still carry plenty of cash in your standard wallet - I somehow don't see dollar coins leading to man bags :)

Comment from abstractseaweed:
2008-12-07T15:33:17+00:00
As few as possible. I have a boney butt, so I don't like to sit on anything more than I absolutely have to. Metal round things would be most uncomfortable to sit on.

Comment from onefishclappin:
2008-12-07T18:19:35+00:00
LOL!

Comment from djedi:
2008-12-08T10:36:43+00:00
This is why I keep my wallet in a front pocket. It's in general more comfortable I feel.

Comment from flamingophoenix:
2008-12-08T19:46:10+00:00
I agree. It depends on the front pocket, though--if it's too shallow this doesn't work well.

Comment from onefishclappin:
2008-12-07T15:14:25+00:00
I'd be happy to use dollar coins, but how? I never get them from stores. The only place I seem to get them is if I use the self serve machines at the post office. If stores give them to me, I'd use them. If they give me dollar bills, I'll use those. How to fix this?
If I ran a store, I'd ask the bank for dollar coins. As a consumer, what can I do?
If the mint did something like let stores buy dollar coins at just under a dollar (99 cents, for instance) (in limited quanities, for a limited time period), would this introduce enough dollar coins into circulation in order to get it off the ground.
By giving away free tshirts to consumers, I feel like maybe they were talking to the wrong people. They should have been in the stores instead. They should be working with the vending machine companies to make sure they allow and encourage dollar coin use. (Vending machines are one case where dollar coins could rule - one coin instead of 4!). I think we need to think trickle down economics here.

Comment from medryn:
2008-12-07T17:24:30+00:00
You can buy $250 or $500 of dollar coins at face value with free shipping:

US Mint

The Fatwallet crowd has been going nuts about this, because you can buy $500 with your 1% rebate credit card, pocket the $5 reward, and redeposit the $500 in coins. Or, better yet, buy $500 with your 0% APY card, deposit the coins into a high yield savings account, and earn interest.

Comment from flamingophoenix:
2008-12-08T19:47:14+00:00
OH MY GOD I want to do this!!! 1% rebate FTW!!!!

...okay, I'll calm down now.

..EEEEE!

Comment from liz_gregory:
2008-12-07T21:47:10+00:00
Britton & I were discussing this when one of those hideously annoying commercials came on the other day. You don't have to sell the consumer as much as you have to actually provide the coins at merchants. I would love to use them, but the only place I know to get them is the post office, which I never go to.

Comment from quijax:
2008-12-08T09:54:46+00:00
And why waste the money on advertising and t-shirts when you can simply distribute the coins?

I'm also a little disappointed that they changed the design. The new coins feature Martin van Buren. huh? They made such a big deal about Sacagawea coins, another advertising blitz that failed to yield results.

Comment from gregstoll:
2008-12-08T10:00:18+00:00
Apparently they have different presidents on them...the change machine I used got the short end of the stick I guess.

(and according to that website the Sacagawea coins are still around, which is confusing!)

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