Dollar Coin - US vs Australia vs Rest of the World

The sovereign took the place of the guinea so it was not intended originally
for them to circulate along side each other. Billy

"Jud" wrote in message
ups.com...
What I never understood was why have a soverign and a guinea?

"Tony Clayton" wrote in message
...
In a recent message "Bruce Remick" wrote:


"Michael G. Koerner" wrote in message
. ..
Squat wrote:
"PC" wrote in message
...
"Bruce Remick" wrote in message
...
Anyway one thing that may help the acceptance of the dollar coin in
the United States is to start circulating a two dollar coin. Just
my
?2 on the matter.
It might indeed be interesting to see if a $2 coin would be readily
accepted as spending money in the US, considering that most people
don't realize there still is a paper $2 bill sort of in circulation.
It probably would be a lot less emotional to drop the $2 bill and
tout
the merits of a new $2 coin than it would be with the $1
denomination.
Plus the $2 experience could be used as a guideline if and when
dropping the $1 bill had to be sold to the public.

That is along the lines I was thinking. A 2 dollar coins would do
wonders. Somewhere between 3 and 5 would cover lunch at a lot of
places.
People would suddenly realize coins have real purchasing power.
Suddenly the dollar coin may become more attractive.
Personnaly, I'd prefer a $5 or $10 coin. Keep the same, common
denominations and increase the value. Maybe even a $20 coin. The
USMint
is producing a $10 Presidential spouse coin (similar to the new $1
presidential coins) but I have not yet been able to find information
concerning its availability.

Since coins last much longer in circulation that bills do, I think
this
might even save the USMint money over time. (plus, a lot of them would
end up in the hands of collectors never circulating - thus making
money
for the US Gov.)

There was a recent court decision that is going to force a major
redesign
in the currency as the blind cannot tell teh difference as they are
all
the same size. New coins of differing weights, thickness and such
would
also help those who are visually impaired.

Anyway, that's my 2 cents worth (Pardon the pun)

Also (and I have posted about this before), I recall that when Canada
released its C$2 coin in 1996 an interesting thing happened - demand on
the Royal Canadian Mint for new C$1 and C$0.25 coins dropped to *ZERO*
and
none were struck for circulation for several years afterwards.

The reason? With C$2 coins, people started SPENDING coins from their
pockets *UP* to amounts needed for their small-time purchases (ie,
lunch)
rather then tendering larger banknotes and getting coins in change down
to
that amount.
This recirculation effect for the smaller denominations eliminated the
need for the RCM to make any more for several years, also making total
pocket coin loads _lighter_.

I see no reason why the same would not happen here in the USofA with
$1,
$2 and even $5 coins.

I think that's the key thing-- getting people to SPEND whatever new coin
is
provided. With the US $1 coin, people claim to like receiving them,
enjoy
putting some away, looking at them, etc. But they haven't been SPENDING
them like they do dollar bills. It's an interesting premise that getting
people used to digging in their pocket change for a $2 or $5 coin to
actually pay for something would likely influence dollar coin usage as
well.
It just seems that STARTING with a $1 coin hasn't worked as hoped. Maybe
we
should have started with a $2 or $3 coin and then worked backwards. I
hesitate to suggest a $5 (bill replacement) coin until we see how the $2
and/or $3 coins are accepted.

A 3 dollar coin? What a weird unit! The 1,2,5,10,20,50... system is
fairly universal for modern coinage systems (except in the USA where
the 25 unit remains for historical reasons).

I just selected a low denomination that didn't already have a paper
equivalent-- practicality or historic precedence notwithstanding. A $4 coin
might have been just as useful or weird.


When the UK introduced the pound coin the demand for the 50 pence coin
dropped markedly. Similarly, when the two pound coin was introduced
demand for the pound coin dropped.

Hmmm. In contrast, here demand for our large 50¢ coin dropped markedly, so
we chose to introduce an even bigger dollar coin (while still spitting out
those 50¢ coins each year, just in case). That excited collectors and no
one else. Since then, three more different smaller dollar coins have been
tried. Each time, collectors were excited and eagerly spent their paper
dollars to acquire sets and rolls for their collections. Introducing a $2
or $3 coin first might have paved the way for a $1 coin acceptance. Just my
lowly opinion.

Bruce

"Stefano MacGregor" wrote in message
oups.com...
Bruce Remick skribis:

The next challenge though will be to get people to spend that $1
coin like they did the bill, and not simply gravitate to the $5 bill as
their "new" mainstay for purchases, relegating the coin to pocket change
status.

But the dollar coin *is* pocket change -- just as the dollar bill has
been for quite some time.

--
Stefano

I agree totally. Except that pocket change usually gets dumped in a jar at
the end of the day. Dollar bills don't. They stay in the wallet to be used
tomorrow. At least in our house.

Bruce

ooooooo! It's an international argument about dollar coins.

Maybe we'll get a manifesto yet?

--
-Fred Shecter
remove zorch two places to reply
Current eBay auctions:
http://search.ebay.com/_W0QQfgtpZ1QQ...shreadv ector

Join the Revolution:
http://www.sirius.com

"Bruce Remick" wrote in message
...

"Tony Clayton" wrote in message
...
In a recent message "Bruce Remick" wrote:


"Michael G. Koerner" wrote in message
. ..
Squat wrote:
"PC" wrote in message
...
"Bruce Remick" wrote in message
...
Anyway one thing that may help the acceptance of the dollar coin
in
the United States is to start circulating a two dollar coin. Just
my
?2 on the matter.
It might indeed be interesting to see if a $2 coin would be readily
accepted as spending money in the US, considering that most people
don't realize there still is a paper $2 bill sort of in
circulation.
It probably would be a lot less emotional to drop the $2 bill and
tout
the merits of a new $2 coin than it would be with the $1
denomination.
Plus the $2 experience could be used as a guideline if and when
dropping the $1 bill had to be sold to the public.

That is along the lines I was thinking. A 2 dollar coins would do
wonders. Somewhere between 3 and 5 would cover lunch at a lot of
places.
People would suddenly realize coins have real purchasing power.
Suddenly the dollar coin may become more attractive.
Personnaly, I'd prefer a $5 or $10 coin. Keep the same, common
denominations and increase the value. Maybe even a $20 coin. The
USMint
is producing a $10 Presidential spouse coin (similar to the new $1
presidential coins) but I have not yet been able to find information
concerning its availability.

Since coins last much longer in circulation that bills do, I think
this
might even save the USMint money over time. (plus, a lot of them
would
end up in the hands of collectors never circulating - thus making
money
for the US Gov.)

There was a recent court decision that is going to force a major
redesign
in the currency as the blind cannot tell teh difference as they are
all
the same size. New coins of differing weights, thickness and such
would
also help those who are visually impaired.

Anyway, that's my 2 cents worth (Pardon the pun)

Also (and I have posted about this before), I recall that when Canada
released its C$2 coin in 1996 an interesting thing happened - demand
on
the Royal Canadian Mint for new C$1 and C$0.25 coins dropped to *ZERO*
and
none were struck for circulation for several years afterwards.

The reason? With C$2 coins, people started SPENDING coins from their
pockets *UP* to amounts needed for their small-time purchases (ie,
lunch)
rather then tendering larger banknotes and getting coins in change
down to
that amount.
This recirculation effect for the smaller denominations eliminated the
need for the RCM to make any more for several years, also making total
pocket coin loads _lighter_.

I see no reason why the same would not happen here in the USofA with
$1,
$2 and even $5 coins.

I think that's the key thing-- getting people to SPEND whatever new coin
is
provided. With the US $1 coin, people claim to like receiving them,
enjoy
putting some away, looking at them, etc. But they haven't been SPENDING
them like they do dollar bills. It's an interesting premise that
getting
people used to digging in their pocket change for a $2 or $5 coin to
actually pay for something would likely influence dollar coin usage as
well.
It just seems that STARTING with a $1 coin hasn't worked as hoped.
Maybe we
should have started with a $2 or $3 coin and then worked backwards. I
hesitate to suggest a $5 (bill replacement) coin until we see how the $2
and/or $3 coins are accepted.

A 3 dollar coin? What a weird unit! The 1,2,5,10,20,50... system is
fairly universal for modern coinage systems (except in the USA where
the 25 unit remains for historical reasons).

I just selected a low denomination that didn't already have a paper
equivalent-- practicality or historic precedence notwithstanding. A $4
coin might have been just as useful or weird.


When the UK introduced the pound coin the demand for the 50 pence coin
dropped markedly. Similarly, when the two pound coin was introduced
demand for the pound coin dropped.

Hmmm. In contrast, here demand for our large 50¢ coin dropped markedly,
so we chose to introduce an even bigger dollar coin (while still spitting
out those 50¢ coins each year, just in case). That excited collectors and
no one else. Since then, three more different smaller dollar coins have
been tried. Each time, collectors were excited and eagerly spent their
paper dollars to acquire sets and rolls for their collections.
Introducing a $2 or $3 coin first might have paved the way for a $1 coin
acceptance. Just my lowly opinion.

Bruce

"Fred Shecter" wrote in message
nk.net...
ooooooo! It's an international argument about dollar coins.

Maybe we'll get a manifesto yet?


Is my participation in this long snipped series of posts what you have
uncovered that has made me the laughing stock of the international
community? Are the others who posted likewise tainted, too? Thanks for
pointing this out.

On a related note, I now am the proud (?) owner of 10 Australian
dollars dated 2007.
1) Kangaroo 2) Year of the Pig 3) Surf Lifesaver (proof) 4) Ashes
5) Lindsay 6) Polar Exploration 7) APEC 8) Sydney Bridge 'C' 9) Sydney
Bridge 'S'
10) Sydney Bridge 'B'. Wonder if the Sydney Bridge dollars will come
out in 'A' and 'M' mintmarks. Or if there are other plans for even
more NCLT dollars.
Stop the madness!

"Jud" wrote in message
oups.com...
On a related note, I now am the proud (?) owner of 10 Australian
dollars dated 2007.
1) Kangaroo 2) Year of the Pig 3) Surf Lifesaver (proof) 4) Ashes
5) Lindsay 6) Polar Exploration 7) APEC 8) Sydney Bridge 'C' 9) Sydney
Bridge 'S'
10) Sydney Bridge 'B'. Wonder if the Sydney Bridge dollars will come
out in 'A' and 'M' mintmarks. Or if there are other plans for even
more NCLT dollars.
Stop the madness!


My late distant cousin, British Commonwealth researcher, author, and
collector Jerome Remick, would roll over in his grave. Although he did
enjoy designing and producing his own wide array of medals. I never
realized the extent and quality of his personal coin collection until I saw
many of his rarities being auctioned on eBay, following his estate
liquidation.

Bruce

"Jud" wrote in message
oups.com...
On a related note, I now am the proud (?) owner of 10 Australian
dollars dated 2007.
1) Kangaroo 2) Year of the Pig 3) Surf Lifesaver (proof) 4) Ashes
5) Lindsay 6) Polar Exploration 7) APEC 8) Sydney Bridge 'C' 9) Sydney
Bridge 'S'
10) Sydney Bridge 'B'. Wonder if the Sydney Bridge dollars will come
out in 'A' and 'M' mintmarks. Or if there are other plans for even
more NCLT dollars.
Stop the madness!


I have been looking at my dollar coins and I have a number of different
designs. When I get back to the US I will take some pictures and hopefully
someone can help explain that the different designs are for.

"Jud" wrote in message
oups.com...
On a related note, I now am the proud (?) owner of 10 Australian
dollars dated 2007.
1) Kangaroo 2) Year of the Pig 3) Surf Lifesaver (proof) 4) Ashes
5) Lindsay 6) Polar Exploration 7) APEC 8) Sydney Bridge 'C' 9) Sydney
Bridge 'S'
10) Sydney Bridge 'B'. Wonder if the Sydney Bridge dollars will come
out in 'A' and 'M' mintmarks. Or if there are other plans for even
more NCLT dollars.
Stop the madness!


You're just encouraging them, Jud.

--
Jeff R.

Jeff R. wrote:

You're just encouraging them, Jud.

--
Jeff R.

Yeah, I know Jeff, but it is an obsession. Hell, I even have a 2000
ANZAC dollar from the PNC. Total of 100 different Aussie dollars.
AFAIK, a complete collection, and becoming more and more frustrated
every year trying to keep it up to date. "Somebody STOP ME!" Better
yet, somebody stop the RAM and the RCM too while we are at it!