You heard incorrectly. They BEP actually printed quite a few series 2003 $2 notes issued by the Federal Reserve Bank of Minneapolis (I have 2 in my wallet as I type this) and according to the August BEP production report, they are now producing new series 2003A $2 notes. More specifically, 12.8 million from the Federal Reserve Bank of Boston, 25.6 million from the Federal Reserve Bank of New York, 6.4 million from the Federal Reserve Bank of Philadelphia, and 19.2 million from the Federal Reserve Bank of Atlanta. This is the first time since the series 1976 that they have been issued for circulation by multiple Fed branches (the series 1995 were all from Atlanta and the series 2003 were all from Minneapolis).

Seems like I read somewhere, that it now costs the government a little over 3 cents to make a penny and a little over 7 cents to make a nickel. The rising cost of base metals (copper, nickel etc.) has made small change economically impractical. The problem I see with dollar coins here in the states is that they are too similar in size to a quarter. Perhaps if they would make them large enough to discern in one's pocket, they would see more dollar coins used for everyday transactions.

While the cent (zinc) is very close to "melt", the cost of the nickel and copper required for a 5c piece does not exceed face value.

Canadians don't seem to have a problem with the $1 coin, so size is not an issue.

Personally I love spending $2 bills but around here everyone knows what they are just not what to do with them.

To some extent this was similar in the times of the Mark. And nowadays such €10 coins are even less "frequently" accepted because, unlike the regular and commemorative coins, those fivers and tenners are legal tender in a relatively small part of the currency union only. Sure, I can always take a German €10 piece to a Bundesbank branch office and get 10 "regular" euro for it. But if for some reason I received a Dutch €5 in the Netherlands, I might have to go to a DNB office and change it since in Germany it would not be legal tender, and even the Bundesbank would not accept it.

So from a practical POV those collector coins are second class coins. With a circulation coin, or a €2 commem, that is different ...

Christian

When I got off of the DB at the Hauptbahnhof in Munchen I had to exchange a little bit of money, since I still had mostly Swedish kronur. At the currency exchange window I spied several of the 10 DM coins which were conspicuously placed so that someone could ask for them. So I bought them, I had never actually seen circulating silver coins before. I had received several of the 1972 Munchen olympics coins, a couple I wanted to keep as they were in Unc condition, but the circulated ones I spent later in a shop, but the poor clerk, an older lady thought I had gone insane for spending them. It is the only time in my life I have spent silver coins, not even in France did I spend the 100 FF coins, I just kept them.

I think that could be solved by following UK or Sweden for example. The pound and 10 kronor are both relatively small but much thicker.

There's quite an opposition to that as it would render pretty much all current coin handling machines obsolete.

Easy solution would be to make it bimetalic, there'd be no way they could possibly confuse them then.

Or make them out of brass. Mind you Sacs are that kind of colour, but the design is mingin and the metal they chose turns nasty quickly. I'm not surprised they stuck with the bill, i would have too!

I've spent silver only once and it'll not happen again (well not legally, i could do it illegally by passing off a silver shilling as a ten pence coin but i can't see many falling for that!).

Nah the days of spending silver in the UK passed in 1993, although no one ever spent silver (except me) it seems.

A U.S. dollar coin has NEVER worked...from the 1790's to the present. Overall, NO dollar coin has circulated properly rather than just sit around as excess baggage either at the mint or in bank vaults.

Recent polls show over 92 percent of all adult Americans prefer the option of retaining the paper dollar whether the dollar coin was continued or not. NO politician is going to ever vote against that kind of number--nor in a republic should he.

I have to admit I would rather have paper dollars than a pile of coins in my pocket. It is just what I am used to, and it is not going to change. But I do prefer $2 bills over having too many $1's.

If people in some countries prefer low value notes instead of coins, that if of course fine, since (or as long as) that does not really affect me. Then again, somebody who has a "pile" of coins in the pocket or wallet must be doing something wrong anyway ...

Christian

I much prefer a couple dollar coins in my pocket to singles. Theres never a need to carry a "pile", Thats what $2 & $5 are for.

The only time i get a pile of £1 coins is when there's shortage of £5 notes. To be honest i prefer the £1 coins because the fivers are generally grotty and bus drivers don't like notes, they like coins. It's a change thing. That and vending machines don't take notes, so if you've only got a fiver and you really need a drink or something and there's a row of vending machines and no shops anywhere near, you're screwed.
So close and yet so far!

Getting a pile of £2 coins is fantastic, rare it happens though, only if they've run out of tenners as well as fivers.

I can't be doing with twenties, don't like 'em. I much prefer two tens.

After just getting back from Wales and England and using the £ notes and coins, I find it that you always end up with a pile of £1 coins in your pocket. It seems most stores if the change you are to recieve is £4.20 you almost always get 4 £1 coins instead of the £2.

Is there a shortage of £2 coins there??

And i also agree with having 2 £10 notes instead of a £20. When I was exchanging currency the teller tried giving me a £50 note and I started laughing and told her I didn't want it. She said "why?" and I said because no store will accept it. I had the same problem when we went to New Zealand.

I like the $1 coins. Rarely do I keep more than 2-3 $1 notes in my pocket. Those things are too easy to jam in there and then pull your hand out with the note attached on accident. You can't hear paper hit the ground. A coin you sure can.

I wouldn't mind if the US went with a majority of $1 coins and replaced a lot of the $1 notes with $2 notes. That would get my support.

With the new $1 coin production about to start I think a lot of people will become more comfortable with coins. The designs should be pretty nice which will lead to their usage and collection. I intend on using them A LOT.

£2 coins are a rather strange thing in this country. They were introduced properly in 1997 with the Bi-Metallic coin although there was a problem with the middle bits falling out of them so they were delayed by a year. The £1 coin was introduced in 1983 so they have 14 years on the £2 so there are vastly more £1 coins in circulation than £2 coins.

Once the £2 coin is in circulation for about 15 years they will be more common in change. The other problem is alot of £2 coins are saved due to the commemorative designs that are on them almost every year.

In regards to your $1 coin problem how about a different shape for the $1 coin say like the 50p coin we have here?

Any links to images of this new $1 coins at all?

My grandmother hoards them, regardless of whether they're commemorative or not. I avoid spending them until i have to, if i get them in change i'll carry them around in my pocket for weeks, i try and get shut of the £1 coins and the change before i reluctanly let the £2s go.

I do think that the £2 coin is a comercial adventure, rather like the £5 coin. Not so much interested in the circulation as to the 'sale' to collectors.

Alot of Off-Licences (Liquor Shops), Corner Shops (Kwik-E-Marts) & British Rail stations don't like them, it also doesn't help that there are still several vending machines don't take them either.

The commemorative £2 coins are far superior to the commemorative 50p's in my opinion, the bi-metallic nature of the coin leads to more detail, I think that the 60th anniversary of the end of WWII, 300(?) anniversary of railways & Guy Falkes where the best ones. The 50p in contrast has had two dull ones of recent - Roger Bannisters 4 minute mile & the dictionary one.

Also someone at work I know saves £2 coins for when they go on holiday so they have less change to carry round at the airport, etc.

I don't like any of the commems, but i don't like commems anyway.

Not only that but some parts of the UK still have the £1 note. ;-)

Jock McSporran

Only Scotland has the £1 note, by Royal Bank, and only because it puts their brand out. Now they are becoming quite well advertisers here in the USA. Too bad they canna issue $1 notes here.

Very interesting reading regarding the £2. I'd have to say I probably see 10 £1 coins for every £2 I see among coins brought back from vacations, etc. I usually just thought that was just people spending the higher denominations before they leave, but now it seems like there's more to it...

BTW, I know that the £50 is hard to spend, but you guys are suggesting that the £20 is also tough?

The £20 is not a problem, it's accepted almost everywhere. The only time people grumble is when change is short, or when a £20 note is used to buy a pack of chewing gum or something.

Bus drivers and train/tram conductors on the other hand hate them, in fact they hate notes in general, simply because the more notes they're given in a day the more change they have to give out and i've seen instances where they've run out and been unable to let passengers on because they can't give them correct change!

Other than that though twenties are readily accepted. I personally don't like them, the only reason being is that i lost one in the past, blew away or something, who knows... thus i'd much rather have two tens, it's better to lose a ten than a twenty.

Although from what i've seen in shops most of the notices advising shop assistance to be aware of forgeries starting with certain serial numbers they tend to be mostly £10 notes!

Fivers are annoying, so grotty, it's two low a denomination for a note really, they wear out far too fast. Back in 2003 they introduced the new design fivers with better paper because the last issue just wasn't wearing well in day to day use. Unfortunately it seems the much improved fivers are still getting grotty quite quickly. I haven't had a nice one in a while.

Okay, good to know. Usually the best looking notes I see are the £10s. I don't see a £5 in VF or better very often.

As for fifties, fifties are about as popular as $2 bills in the states. To get one you have to go to a bank, to get rid of one you have to go to the bank. I have spent one once, but only because i was actually paying fifty pounds for something.

How to tell if a fifty has actually been in circulation (apart from creases etc.) is that the edges of the note will have little tears in it. They tear them to make sure they're real, at least that what the person who accepted mine told me. It did explain why i've seen a few with tears in!

Yes, but Scotland is a fairly large chunk of the UK and the £1 note still circulates there even though the £1 coin has been around as an alternative / additional means of exchange for 23 years now. With the ever decreasing value of the £1 in purchasing terms I would not be surprised to fing the £1 note disappearing from currency useage. It has a diminishing popularity with shoppers. However until the popularity dies completely I can't see the RBofS missing out on producing them anytime soon.

In regards to £50 notes they are mainly an inconvenience as it means you have to give back alot of change, a lot of people look surprised when seeing one as well. There was also a time in the late 90's when alot of fake ones were bashing about, apparently.

In regards to £20 notes it's the most common forged note out there, which is why it is the oldest of that style of note, the £50 has yet to catch up with the new design.

As for the £1 Note is Scotland it rarely makes it down south & we don't have to accept them in England (in fact they may not be legal tender in England). Scotland has three, yes three, banknote manufacturers (In order of most common to least): Royal Bank Of Scotland, Bank Of Scotland & Clydesdale Bank. The continuation of the £1 note is a bit bizzare, however in some commonwealth regions that have/had the pound (bermuda, Isle of Man, etc) they had a 50p not which although they used to have one pre decimal (10 shillings note) to have a decimal 50p note is a strange thing to me at least.

Personally I would like to see the £5 note go, these new ones seem to be in a worse stat than the old ones they replaced. Thing is alot of people object as they feel a perminate circulation one would be crown sized.

This will most probably not be the case & either a thick seven sided or a round coin which will be sized in between the £1 & £2 coin will be released. However only time will tell, perhaps the Royal Mint is waiting for the outcome of whether the UK joins the Euro or not.

Another thing abotu £1 coins & shopkeepers is that my theory at least is that they know that there is so many fake £1 coins out there they we would rather give them as change so that they don't have keep them. Sometimes I'm sure they sneak some in as well as I recieved two fake ones, which were the exact same year, both had the same die faults, same dodgy alingment & dodgy gold colour. Luckily I had to travel on British Rail the next day so they coped them instead

Strictly speaking, they are not legal tender at all. The BoE notes are legal tender in England and Wales, but not in Scotland. The paper money issued by Scottish (and Northern Irish) banks is not legal tender in any part of the UK, but practically that does not cause any problems, it seems.

As far as I know, the BoE £1 note was legal tender in Scotland too, but not the higher denominations. So the only unlimited legal tender in Scotland is ... the pound sterling coins.

Christian

....let's settle for the fact that the `UK' is a funny place full of contradictions. :-)

It actually consists of two countries (Scotland and England), part of another (Northern Ireland), and a principality (Wales). It is not as `united' as the name implies (as demonstrated by the paper currencies), but it's a lot more `united' than `disunited' (I think).

However, for the sake of clarity....the UK is NOT just another name for `England', much to the chagrin of many englishmen who no longer have a £1 note. ;-)

Ian

Dang, This thread has taken on a life of its own......I kinda like it.

Hey You cheeky so & so Not all of us English ignore the fact that Scotland & Wales exist... and er Northern Ireland

To be honest I don't think it's a bad thing that Scotland & Northern Ireland do their own notes although still find the £1 Scottish note rather strange considering two of the three banks the print Scottish banknotes withdrew their quite a few years ago.

I think it's a shame personally that Scotland & Northern Ireland Don't do their own coins, it would be interesting to see what they come up with for the desings, Wales would be interesting to see as well for both notes & coins.

I don't care too much for seperate notes, but I would like to see different coins as well. Jersey, Isle of Man and others already have their own coin designs...

Not so strange, it comes down to being a profitable advertising gimmick on the part of RBS that keeps their name in your wallet or pocket. I have actively collected Scottish banknotes since 1997, and there has been talk since 1989 about RBS getting rid of the quid.

As for legal tender in Scotland, it used to be BOE 10/- and £1 notes only. Nothing else. Now just £1 coins and minor coins up to small amounts.

That the design of the UK £1 changes yearly to represent a different country of the UK is a good thing.. For example from 1983 we have seen arms (joint), thistle (scotland), leek (wales), flax (ireland), oak (england)...etcetera.

I particularly like the emblems of 1994,5,6,7 and the recent bridges themes. Allows us all to have our `own' coins that circulate nationally.

I liked the Firth of Forth design, but never ever got one.

Fear not, I have one spare from circulation in the early days of its issue (aUnc it must be by definition). I remember you mentioning wanting a couple but the ones that i've since come across in circulation are pretty naff and well worn.

Ach, fear not, but the not so wee bottle of Aqua Vita is costing a not so wee price in quidders.

Agreed the £1 is my second favourite modern British coin (behind the 20p) for the many varying designs, my favourite were the 1994-2002 emblem design.

I do like the bridges series, however personally I would have prefered (sp) if they had chosen these instead (link to page so as to not slow loading times):

http://www.24carat.co.uk/2004poundcoinpatterns.html

These are genuine designs (they are listed in the Spink catalogue) and I personally favour these to the current design, shame they never got used

These are new to me. I don't particularly follow modern coins these days having lost interest in the low relief and even lower quality artistry. However I agree that these patterns are quite `striking' (pardon the poor pun).

There is always a slight chance that these patterns may yet find their way into service after 2007......

Ian

Depends really, the only problem with the £1 coins in this country is that when they bring out a new series they do the set twice, personally I would like them to do a series once & do a new series thereafter

I have to admit I do like some of the £2 coin designs.. just recently arrived in Scotland for school and got a decent shape 60th anniversery of the end of WWII coin that I kept... also got an Isle of Man pound coin!

That is the best one that design would have suited for an every year coin

No my fave is the concentric circles normal issue. I thought that was an exceptionally good design, with a story to tell and was well executed.