Good Dollar Coin News?

On Sun, (Deven Atkinson) wrote:

wrote:
(Deven Atkinson) wrote:
Jim Seymour wrote:
Joe Fischer wrote:
I will repeat it again, the FRB only pays 3 cents for a
dollar bill (it may pay 5 cents now because the BEP may average
costs for all bills), and "sells" them for one dollar, and deposits
the gain in the treasury at the end of each year.

The FRB pays $1.00 each for dollar coins, and sells them
for one dollar, with no possible gain to the government.

Wait. Are you claiming there is no seignorage on dollar coins?

Joe can not understand that it matters not if the FRB pays seiniorage or if
the banks pay it. Either way, there is seiniorage, it is just that a
different agency gets to keep it on their books.
Deven Atkinson

I understand perfectly, it isn't the banks that matter, it
is the difference in what the FRB pays for bills and coins, that
obviously must _matter_ to the Federal Reserve Bank.

While I don't want to be forced to carry big copper
coins which have _NO_ utility for me where I shop, because
there are NO dollar machines except a few soft drink machines,
I have always supported dollar coins, for those that _need_ them.

Then you need to stop with that valid argument, Joe.

The issue is "the reason dollar coins have not circulated
widely and the savings that could be realized if they did".

Personal preference is perfectly valid.

I have been arguing only that there is no assured savings,
and that any changes should be made with as little hard feelings
as possible.

But quoting FRB seignorage and ignoring US Mint
seignorage is wrong.

I haven't been ignoring mint seignorage, and I have
absolutely no control how many dollar coins the FRB
orders. If you want the FRB to order dollar coins
without predjudice, then they need an even playing
field. If you ran a business operation and one
brand cost a lot more, would you stock it?

So what if FRB pays face value for coins?

It doesn't matter to me, but I have suggested that
it does matter to the FRB, as more dollar coins and
less dollar bills would have a serious effect on their
book balances.

Demanding
shipping numbers for US Mint shipments, but not supplying them for FRB
shippments (and uncurrent FRN returns and distruction) is wrong.

I haven't done any demanding, I think I have the
mint production numbers for all years except 2003, and
I posted the link to the currency unit production for
a number of years.
I don't know what you mean by FRB shipments,
the FRB is charged with the duty of stocking ample
currency and coin, and any difference in cost to the
FRB is definitely a factor in decisions.
I would like to see a comparison berween dollar
bills burned and dollar bills printed for all years since
1928, that might show something that either supports
my contention about printing money not costing the
government anything, or proves it wrong.

Stick to your guns on personal prefrerence, but please stop arguing a point
of view that the FRB is the only money entity that matters.
Deven Atkinson

The FRB is the only entity that matters to the FRB,
which is what I said or meant.

I don't see the FRB or the BEP advertising dollar
bills, and the mint ads were unnecessary as many people
and entities needed dollar coins.

People spend money in many ways that are costly,
for instance, prescription pills cost about the same regardless
of the dosage, I always thought they cost so much because
the chemicals cost that much to produce.

Can a person save by asking the doctor to prescribe
half-tablets per dose? Will the doctor be willing?
Is it safe to trust the patient to break pills and follow
dosage correctly?

Before arguing that dollar coins would save money
for the taxpayer, there needs to be good facts about how
much it has cost and how much it will cost everybody
involved.

The date on the bills being burned is not a good
indicator of how long the average bill has been in
circulation, the total number of bills printed and total
burned needs to be known.

The facts posted by dollar bill opponents have
been way off, and I have seen no incorrect facts posted
by those who enjoy using both bills and coins.

The agenda of dollar bill opponents is to get more
dollar coins into circulation, and there are no dollar coin
opponents, and there is no agenda to stop dollar coins from
circulating.

I think this is something all readers should examine.

Incidentally, I received 15 dollar bills in change for
a $20 bill yesterday, I could have handled it if they would
have been dollar coins because I was in the car, but if
I was walking in a store in summer clothes, it would have
been a serious problem.

Joe Fischer

On Sun, "Chris S" chris(at)imt.xohost.com wrote:

Thank you, Deven. This issue is really about personal preferences and their
costs.
--Chris

Read about the small dollar coin and dream. :-)

http://home.earthlink.net/~smalldoll...ableofContents

Joe Fischer

On Mon, 12 Jan 2004 01:26:06 -0500, Joe Fischer
wrote:

On Sun, "Chris S" chris(at)imt.xohost.com wrote:

Thank you, Deven. This issue is really about personal preferences and their
costs.
--Chris

Read about the small dollar coin and dream. :-)

http://home.earthlink.net/~smalldoll...ableofContents

Joe Fischer

Cool site. Except for the annoying dissolves. Anyway, FG's 1977 design
concept is so cool! Why can't they slap 2004 on that baby and forget
the diznee dollar altogether?

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.