jtryka Posted October 1, 2006 Report Share Posted October 1, 2006 Also I have heard that they have stopped making new $2 notes is this true? 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). Link to comment Share on other sites More sharing options...
JamesBaker Posted October 2, 2006 Report Share Posted October 2, 2006 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. Link to comment Share on other sites More sharing options...
ccg Posted October 2, 2006 Report Share Posted October 2, 2006 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. Link to comment Share on other sites More sharing options...
Rotten Rodney Posted October 2, 2006 Report Share Posted October 2, 2006 Personally I love spending $2 bills but around here everyone knows what they are just not what to do with them. Link to comment Share on other sites More sharing options...
tabbs Posted October 2, 2006 Report Share Posted October 2, 2006 When I wanted to spend a ten euro commemorative at "Aldi" ( ) the seller looked at me and was asking what that is. I told him that it's a commemorative, it's a legal tender, but he went to the manager and around ten minutes later after calling the bank if it's a legal tender he accepted the coin. 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 Link to comment Share on other sites More sharing options...
Scottishmoney Posted October 2, 2006 Report Share Posted October 2, 2006 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. Link to comment Share on other sites More sharing options...
Sir Sisu Posted October 3, 2006 Report Share Posted October 3, 2006 ...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. 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. Link to comment Share on other sites More sharing options...
ccg Posted October 4, 2006 Report Share Posted October 4, 2006 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. Link to comment Share on other sites More sharing options...
Ætheling Posted October 4, 2006 Report Share Posted October 4, 2006 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! Link to comment Share on other sites More sharing options...
Ætheling Posted October 4, 2006 Report Share Posted October 4, 2006 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'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. Link to comment Share on other sites More sharing options...
bustchaser Posted October 4, 2006 Author Report Share Posted October 4, 2006 Well Johnny you've opened a can of worms there. The $1 bill vs $1 coin argument goes round and round and round. It'll never be resolved in the current climate. Sure the US has tried to introduce a $1 coin on two occasions recently but it all comes down to the fact that people will use whatever they are familiar with so if you don't withdraw the bills then the change will never happen. However, the bills have fans where it counts. 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. Link to comment Share on other sites More sharing options...
Scottishmoney Posted October 4, 2006 Report Share Posted October 4, 2006 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. Link to comment Share on other sites More sharing options...
tabbs Posted October 4, 2006 Report Share Posted October 4, 2006 I have to admit I would rather have paper dollars than a pile of coins in my pocket. 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 Link to comment Share on other sites More sharing options...
Dockwalliper Posted October 4, 2006 Report Share Posted October 4, 2006 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. Link to comment Share on other sites More sharing options...
The PCI Guy Posted October 4, 2006 Report Share Posted October 4, 2006 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. Link to comment Share on other sites More sharing options...
Brett Posted October 5, 2006 Report Share Posted October 5, 2006 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. Link to comment Share on other sites More sharing options...
Burks Posted October 6, 2006 Report Share Posted October 6, 2006 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. Link to comment Share on other sites More sharing options...
Johnny 1989 Posted October 6, 2006 Report Share Posted October 6, 2006 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. £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? Link to comment Share on other sites More sharing options...
Johnny 1989 Posted October 6, 2006 Report Share Posted October 6, 2006 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. Any links to images of this new $1 coins at all? Link to comment Share on other sites More sharing options...
The PCI Guy Posted October 6, 2006 Report Share Posted October 6, 2006 The other problem is alot of £2 coins are saved due to the commemorative designs that are on them almost every year. 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. Link to comment Share on other sites More sharing options...
geordie582 Posted October 7, 2006 Report Share Posted October 7, 2006 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. Link to comment Share on other sites More sharing options...
Johnny 1989 Posted October 7, 2006 Report Share Posted October 7, 2006 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. Link to comment Share on other sites More sharing options...
Ætheling Posted October 7, 2006 Report Share Posted October 7, 2006 I don't like any of the commems, but i don't like commems anyway. Link to comment Share on other sites More sharing options...
Ian Posted October 7, 2006 Report Share Posted October 7, 2006 Well Johnny you've opened a can of worms there. The $1 bill vs $1 coin argument goes round and round and round. It'll never be resolved in the current climate. Not only that but some parts of the UK still have the £1 note. ;-) Jock McSporran Link to comment Share on other sites More sharing options...
Scottishmoney Posted October 7, 2006 Report Share Posted October 7, 2006 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. Link to comment Share on other sites More sharing options...
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