My Washington Dollar Experience

Thank you for your negative post driven by your pre-determined negative attitude. Now for
reality:

Every bank that has gotten them has sold out in no time. I spoke with several tellers
yesterday by phone and one in person. They all say the same thing: The los Angeles area
did not get enough in the initial shipment and the bank branches are getting them as fast
as they can. They can re-order more and when they arrive they will be shipped. They say
the customer reaction is overwhelmingly positive and the tellers love them as well. The
teller I talked to in person yesterday (who sold me the last 2 rolls in the branch),
volunteered a whole bunch of info assuming I did not know this info already: dollar bills
wear out in about 15 months and coins last 30 years and the government wants everyone to
start using the dollar coin to save tax money. I told her "cool - great idea - keep
ordering more boxes".

-Fred Shecter

--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"Bruce Remick" wrote in message
...

"Fred Shecter" wrote in message
...
I printed the 8.5 x 14 "Mailer" and gave it to bank tellers in late January and early
February. I think it helped.

http://www.usmint.gov/downloads/mint...ams/Mailer.pdf


I'll bet that bank tellers are really excited over the prospect of handling more of
those dollar coins, mostly for collectors and curious customers. Contributing to public
education about our history is not their job. Once the novelty wears of in a year or
so, the coins will likely be unwelcomed millstones around the bankers' necks. It will
be so much easier to make up excuses as to why they have none available than to
accommodate those few who will insist on unmixed bags and rolls of the various
presidents by date. If banks order dollar coins at all, will they also have to accept
33% of the total in new Sac dollars? Otherwise, there's another totally wasteful
effort, minting those things. The simple dollar bill is looking better and better.

Bruce

On Feb 21, 11:26 am, "Fred Shecter"
wrote:
I've spent them at over a dozen stores and about 5 or 6 gas stations mixed in with
Sacagawea dollars.

I went back to my bank today to get more and they said to try again
next week as they ran out. They don't have any 2007 Sacagawea dollars
either (thank goodness the tellers at my small town branch are patient
with coin collectors!)

On Feb 21, 10:48 am, "Fred Shecter"
wrote:
Thank you for your negative post driven by your pre-determined negative attitude. Now for
reality:

Every bank that has gotten them has sold out in no time. I spoke with several tellers
yesterday by phone and one in person. They all say the same thing: The los Angeles area
did not get enough in the initial shipment and the bank branches are getting them as fast
as they can. They can re-order more and when they arrive they will be shipped. They say
the customer reaction is overwhelmingly positive and the tellers love them as well. The
teller I talked to in person yesterday (who sold me the last 2 rolls in the branch),
volunteered a whole bunch of info assuming I did not know this info already: dollar bills
wear out in about 15 months and coins last 30 years and the government wants everyone to
start using the dollar coin to save tax money. I told her "cool - great idea - keep
ordering more boxes".

-Fred Shecter

So your argument is that the Presidential dollar coin is going to be
magically successful and circulate freely throughout the economy,
while none of the other iterations of the dollar coin have achieved
that goal over the past 35 years?

IMO the run on the new coins is merely collector fever and most of the
dollar coins will end up as either keepsakes or will only ultimately
be used in public transportation systems or post office stamp
machines. Just like the Sacs and SBAs. In the case of the Ikes, they
were rarely seen freely circulating outside of casinos.

No mattter the rah-rah wishful thinking by us coin collector types, as
Bruce mentioned, the true reality is that until the dollar bill is
eliminated, dollar coins will only be afterthoughts in daily commerce
for the great majority of the public.

"Fred Shecter" wrote in message
...
Thank you for your negative post driven by your pre-determined negative
attitude. Now for reality:

Fred, I've lived reality for almost 70 years. My negative attitude has been
cultured from my experiences with dollar coins over the past 30 years or so.
It wasn't pre-determined. With each new dollar coin design, there has been
some of the same initial excitement that you recount below. Then the
"reality" sinks in. Those who were so excited weren't the ones who would be
spending (circulating) these coins. And most everyone soon went back to the
more convenient dollar bills. Let's see what is happening a year from now.


Every bank that has gotten them has sold out in no time. I spoke with
several tellers yesterday by phone and one in person. They all say the
same thing: The los Angeles area did not get enough in the initial
shipment and the bank branches are getting them as fast as they can. They
can re-order more and when they arrive they will be shipped. They say the
customer reaction is overwhelmingly positive and the tellers love them as
well. The teller I talked to in person yesterday (who sold me the last 2
rolls in the branch), volunteered a whole bunch of info assuming I did not
know this info already: dollar bills wear out in about 15 months and coins
last 30 years and the government wants everyone to start using the dollar
coin to save tax money. I told her "cool - great idea - keep ordering more
boxes".

-Fred Shecter

If dollar bills wear out in 15 months, then we should always have a
continuing supply of nice crisp ones. That's how most of the ones I receive
look-- not the "filthy rags" term that the dollar coin advocates favor so
dramatically. The waste of government money, IMO, has been in continuing to
mint tons of unwanted dollar coins. You like spending dollar coins? Fine.
There are plenty out there to use for that purpose if that's important to
you. I prefer the dollar bill, but if the coins also should come my way in
change I'll spend them. I'm not holding my breath.

Bruce

"RWF" wrote in message
ups.com...

All due to the proper lack of promotion by the mint.
My local paper has not had anything in it about the new coins.
When they change the look of currency, my paper prints illustrations
of the new bills so everyone will know what they look like.
The new dollar coin looks like a Chuck E. Cheese token!


Several friends and co-workers know that I am into coins and I have had
several ask me something along the lines of "Are there really new dollar
coins coming out?". As if they heard it somewhere but don't quite believe
it.

On Feb 21, 8:29 pm, "Bruce Remick" wrote:
I prefer the dollar bill, but if the coins also should come my way in
change I'll spend them. I'm not holding my breath.

When I traveled extensively thru South America back in the late 80s,
it was my experience that most of the countries really didn't use
coins frequently since they had low denomination bills.
This was particularly true in Brazil, where the public simply would
throw the virtually worthless coins in the street rather than carry
them around. IIRC, the lowest denomination bill was worth less than 1
cent US at the time! Of course, much of South America was going
through a period of hyperinflation.

"RWF" wrote in message
oups.com...
On Feb 21, 8:29 pm, "Bruce Remick" wrote:
I prefer the dollar bill, but if the coins also should come my way in
change I'll spend them. I'm not holding my breath.

When I traveled extensively thru South America back in the late 80s,
it was my experience that most of the countries really didn't use
coins frequently since they had low denomination bills.
This was particularly true in Brazil, where the public simply would
throw the virtually worthless coins in the street rather than carry
them around. IIRC, the lowest denomination bill was worth less than 1
cent US at the time! Of course, much of South America was going
through a period of hyperinflation.


I was in Central America several times in the 1980's. Like you recall,
small bills were used much more than coins. Easier to carry without losing
them, I guess. But here, I will admit, most of their small bills WERE
sweaty, filthy rags. One would think they never wore out, probably replaced
every four years or so.

Bruce

I spoke with a few of the local banks here about them. They are going out
at a fast and furious pace. One lady said she wanted two rolls because she
just had a baby and this will be worth a fortune and probably pay its way
through college.

Where did she get such a notion? Look at the mints web site, they are
already selling 25 of them for 37.95 or whatever it is.

I picked up one at the bank, brought it home, handed it to my 16 year old
daughter and she thought it was one of them chocolate candy coins.

Now, with the "rare" errors that are popping up faster then you can say
Minnesota state quarter. The feeding frenzy is on.

They are what they are. Put lipstick on a pig and guess what, its still a
pig.




"Wes Chormicle" wrote in message
news
Got a roll of Washington Dollars at the bank and started out to see where
I could spend them.

First stop McDonalds for breakfast. Cashier looked at it and asked what
it was, called manager over who examined it. He told me it was not a coin
since it did not have a date... After much explaining, they still refused
to take them, although the person behind be wanted them. So I got my
breakfast.

Stop 2. Wal-Mart. Cashier said they only take American money. Manager
came over and asked if these were the "New" dollar coins he heard about.
I was able to spend them after his inspection.

Stop 3. Big Lots! Cashier wouldn't take them, thought they were arcade
tokens. Manager came over and after 5 minutes (and a phone call) took
them.

Stop 4. Costco. No problem at all. The cashier even wanted some extra.

Stop 5. Burger King. Cashier said it wasn't "real" money, manager
thought it was fake. The owner (?) then came out and said it was ok.

"Jim M." wrote in message
. ..
I spoke with a few of the local banks here about them. They are going out
at a fast and furious pace. One lady said she wanted two rolls because she
just had a baby and this will be worth a fortune and probably pay its way
through college.

Where did she get such a notion? Look at the mints web site, they are
already selling 25 of them for 37.95 or whatever it is.

I picked up one at the bank, brought it home, handed it to my 16 year old
daughter and she thought it was one of them chocolate candy coins.

Now, with the "rare" errors that are popping up faster then you can say
Minnesota state quarter. The feeding frenzy is on.

They are what they are. Put lipstick on a pig and guess what, its still
a pig.


I can't fathom the frenzy over these president dollar coins, as if they're
only going to be available for a week or so before the next president comes
out. People rushing from bank to bank asking for rolls, bags, boxes of
these gems-- quick, before they're all gone. And all of this simply to
SPEND them? It seems like non-collectors are getting caught up in the
frenzy as well, perhaps thinking the coins are gold, valuable, different,
something to be saved although they don't know exactly why.

We've seen this all before with Ikes, SBA's and Sac's. The only thing
different now is the coin design, something that the average Joe never takes
into consideration when deciding what coins to spend.

Patience. There will be tons of president dollars available from banks, the
Mint, dealers, mouldy vaults. I doubt they will ever become part of our
mainstream pocket change, but if I'm wrong that won't be a bad thing.

Bruce

"Wes Chormicle" wrote in message
news
Got a roll of Washington Dollars at the bank and started out to see where
I could spend them.

First stop McDonalds for breakfast. Cashier looked at it and asked what
it was, called manager over who examined it. He told me it was not a coin
since it did not have a date... After much explaining, they still refused
to take them, although the person behind be wanted them. So I got my
breakfast.

Stop 2. Wal-Mart. Cashier said they only take American money. Manager
came over and asked if these were the "New" dollar coins he heard about.
I was able to spend them after his inspection.

Stop 3. Big Lots! Cashier wouldn't take them, thought they were arcade
tokens. Manager came over and after 5 minutes (and a phone call) took
them.

Stop 4. Costco. No problem at all. The cashier even wanted some extra.

Stop 5. Burger King. Cashier said it wasn't "real" money, manager
thought it was fake. The owner (?) then came out and said it was ok.


I have to say when I got them at the bank last week, I felt like they looked
like vending machine tokens or something. I really do not like them, they
do not look like money to me. And the lettered edge has a cheap feel to it.
I won't be caught spending these.