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Thread: Dollar Coins

  1. #1
    Featured Member minnow's Avatar
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    Default Dollar Coins

    By now, we've all probably seen the new presidential dollar coins. We probably recall that Susan B, and S-gawa $ coins essentially flopped. We've all heard the pros & cons (eg coins last much longer than paper money, thus less cost). Then there's setting up vending machines, its too heavy, etc.

    Yet, I think time is approaching to discard paper $1 bills, and replace with dollar coins. Consider that CPI has doubled since 1984, meaning that todays dollar has the same purchasing power as 50cents had in '84.(I don't recall anyone complaining about carrying around a couple of qtrs. back then).

    Your thoughts.....

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    Default Re: Dollar Coins

    I doubt we'll have dollar coins. The cost of the metal itself to make a coin may be worth more then the purchasing power of the dollar...

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    God/dess Corgan's Avatar
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    Default Re: Dollar Coins

    i do believe we will get dollar coins, just as canadians do. when im in canada and i'm using loonies and toonies, i just think "hey, it's a coin! i won't miss a coin!"

    what if that thought could apply to guys in SC's? yessss.

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    Banned Melonie's Avatar
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    Default Re: Dollar Coins

    ^^^ unfortunately, what actually happens in Canadian strip clubs is that guys don't tip with dollar coins since it appears 'cheap', and consider larger tips with paper bills too expensive, so they don't tip much at all !!!

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    Default Re: Dollar Coins

    Quote Originally Posted by minnow View Post
    By now, we've all probably seen the new presidential dollar coins. We probably recall that Susan B, and S-gawa $ coins essentially flopped. We've all heard the pros & cons (eg coins last much longer than paper money, thus less cost). Then there's setting up vending machines, its too heavy, etc.

    Yet, I think time is approaching to discard paper $1 bills, and replace with dollar coins. Consider that CPI has doubled since 1984, meaning that todays dollar has the same purchasing power as 50cents had in '84.(I don't recall anyone complaining about carrying around a couple of qtrs. back then).

    Your thoughts.....
    I didn't get your point. $1 is $1 whether it is paper or coin. How would a $1 Coin protect you from inflation?

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    God/dess Bob_Loblaw's Avatar
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    Default Re: Dollar Coins

    Quote Originally Posted by Melonie View Post
    ^^^ unfortunately, what actually happens in Canadian strip clubs is that guys don't tip with dollar coins since it appears 'cheap', and consider larger tips with paper bills too expensive, so they don't tip much at all !!!
    Depends on your region. In Alberta, the girls play coin games at the end of their stages. The guys go crazy tossing loonies & toonies for prizes

  7. #7
    Featured Member minnow's Avatar
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    Default Re: Dollar Coins

    Adelina- We do have dollar coins in circulation- the new ones can be picked up @ banks, even seen several in cash registers. They just haven't supplanted & replaced the paper bills, which was 1 of my points. In the long run, coins are less costly than paper bills since coins last decades as opposed to maybe 2-3 yrs for paper. As for metal cost on dollar coins- not so. I think that you're confusing that with several articles on the cost of the penny exceeding the purchasing value of the coin. A subject for another thread.......

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    Featured Member minnow's Avatar
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    Default Re: Dollar Coins

    xan- My point wasn't inflation protection, but that inflation can erode the value of the dollar, and ultimately long held perceptions.

    Many of us have probably heard the moniker "pocket change". One objection that I've heard about the dollar coins is that "people don't want to carry around another coin". Given that todays dollar has the same purchasing power that 50c had in 1984, and that I have no recollection of people back then complaining about carrying around 2 quarters makes that argument spurious. Several SW posters can remember a time when pocket change could buy a gallon of gas.

    Thus, the dollars day as being considered pocket change has pretty much arrived. Given budget deficits, and useful life of coins vs paper bills makes transition from paper bills, to all metal coin dollars something that merits consideration.

  9. #9
    Callyish
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    Default Re: Dollar Coins

    Quote Originally Posted by Bob_Loblaw View Post
    Depends on your region. In Alberta, the girls play coin games at the end of their stages. The guys go crazy tossing loonies & toonies for prizes
    Exactly.

    Hell even in Victoria where tipping is considered illegal(stupid liquor laws) I was averaging around $100 a night in tips on stage *shrug*

    Ontario/Quebec I make a killing with the 'ride for 5's'. Tipping may not be the same as it is in the US but its still very common.

    Alberta is really the only province that plays the loonie games(where i've made over $1000 in ONE SHOW playing). The other provinces the guys favour the five dollar bills and up.

  10. #10
    AudreyLeigh
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    Default Re: Dollar Coins

    Makes sense to me! More money for my coin jar!

  11. #11
    God/dess doc-catfish's Avatar
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    Default Re: Dollar Coins

    Here's a previous thread on this very topic and I stick by my answer...

    http://www.stripperweb.com/forum/showthread.php?t=91407

    Quote Originally Posted by minnow View Post
    Consider that CPI has doubled since 1984, meaning that todays dollar has the same purchasing power as 50cents had in '84.(I don't recall anyone complaining about carrying around a couple of qtrs. back then).
    Yes, but the quarter was already an established entity of our monetary system in 1984. Retail stores had cash register drawers configured to carry them long before then.

    While I agree that replacing dollar bills with dollar coins would likely save our government what seems like a substantial sum of money (many estimates suggest $500 million), it has to be taken into account that to the U.S. government, $500 million is couch cushion change, and whatever savings might be made would likely just be pissed away on a couple of bridges to nowhere. Mind you that the ongoing war is costing the country $200 billion annually.

    Given the choice, people simply find the paper currency to be a more utilitarian form in most instances, sheerly for the fact that bills are pliable and can fit in billfolds whereas coins cannot. The fact is that we could achieve some degree of the cost savings of not printing as much money by converting to polymer currency like Mexico and Australia do since it lasts considerably longer than paper.

    Perhaps the biggest savings of course, would be getting rid of tangible money altogether and with the increasing convenience of plastic in the form of debit and credit cards, we're seeing that take effect because its something that people who use the money want.

    Change will take effect if people wish for it to. But for the most part, they don't wish for $1 coins.
    Former SCJ now in rehab.

  12. #12
    AudreyLeigh
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    Default Re: Dollar Coins

    Quote Originally Posted by doc-catfish View Post
    Perhaps the biggest savings of course, would be getting rid of tangible money altogether and with the increasing convenience of plastic in the form of debit and credit cards, we're seeing that take effect because its something that people who use the money want.
    Yup. I havent had any cash on my since the last time I worked - 2 weeks ago. I put it into my account and debit everything. Its so convenient. Cash and change are a hassle.

  13. #13
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    Default Re: Dollar Coins

    I prefer paper....coins are heavy and inconvinient. ( and noisy)

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