ccg Posted December 8, 2005 Report Share Posted December 8, 2005 Sacky...The new World currency. Link to comment Share on other sites More sharing options...
Tiffibunny Posted December 8, 2005 Report Share Posted December 8, 2005 I perused through all the myriad of merchandise they manage to peddle off as though they are a retail establishment. Upon a quick glance of their voluminous selection of stuffed animals, key fobs etc Wow all mine sells is shipping supplies. Link to comment Share on other sites More sharing options...
jtryka Posted December 8, 2005 Report Share Posted December 8, 2005 Wow all mine sells is shipping supplies. In my old town, the used to have a separate section of other crap, it was like a store within a store! And stamps are going up to 39-cents in January, but there is no inflation though... Link to comment Share on other sites More sharing options...
Capt-AWACS Posted December 8, 2005 Report Share Posted December 8, 2005 And stamps are going up to 39-cents in January, but there is no inflation though... Well from 5 cents 150 years ago, to 39 cents next January, I would not call that "double digit" yearly inflation (especially based on the CPI), but that again that is my old physics math coming back again... It should cost a dollar to mail a letter in America anyway, that way 28plain doesn't need to use coins. I kid, I kid as Triumph would say Ciao, and Hook 'em Horns, Capt-AWACS, I was told there would be no math Link to comment Share on other sites More sharing options...
Scottishmoney Posted December 8, 2005 Report Share Posted December 8, 2005 Actually the PO reported they are back in the black again. You know I didn't mind when they had a little bit of stuff like shipping supplies and a few knicknack items, but gees oh pees it is like a variety store and the stuff is right out in traffic, or rather the long line so you have to wind around it to mail your stuff now. Link to comment Share on other sites More sharing options...
jtryka Posted December 8, 2005 Report Share Posted December 8, 2005 Well from 5 cents 150 years ago, to 39 cents next January, I would not call that "double digit" yearly inflation (especially based on the CPI), but that again that is my old physics math coming back again... It should cost a dollar to mail a letter in America anyway, that way 28plain doesn't need to use coins. I kid, I kid as Triumph would say Ciao, and Hook 'em Horns, Capt-AWACS, I was told there would be no math How about from 3-cents just 50 years ago? By the way, when you get your heating bill this winter, remind us again how inflation isn't a problem... Link to comment Share on other sites More sharing options...
Scottishmoney Posted December 8, 2005 Report Share Posted December 8, 2005 How about from 3-cents just 50 years ago? By the way, when you get your heating bill this winter, remind us again how inflation isn't a problem... I just got my heating bill. And it is only going to get worse Link to comment Share on other sites More sharing options...
Capt-AWACS Posted December 8, 2005 Report Share Posted December 8, 2005 I don't have a heating bill, besides, natural gas is a commodity, just like gold or orange juice. Besides, I make more money in my gas stocks then I would pay in heating costs anyway-but that is my planning. To each their own LOL Stagnation or deflation can be even bigger problems. I've dealt with bad deflation in Belize and Venezuela (pre Chavez) and those can also be problems. Inflation under 3.5% is not a problem, and current inflation trends are due to fuel costs, not money supply as suggested above, and it is still not inflationary enough to cause a change in the money supply. As for the stamp examples noted above- Sending a letter from Miami, to Seattle for 39c is a bargain to begin with. Ciao, and Hook 'em Horns, Capt-AWACS, Watching you from 30,000 feet Link to comment Share on other sites More sharing options...
Trantor_3 Posted December 8, 2005 Report Share Posted December 8, 2005 how about sending a letter from the USA to me, in the Netherlands, for only 80 cents.... Link to comment Share on other sites More sharing options...
28Plain Posted December 8, 2005 Report Share Posted December 8, 2005 Actually, we have quadruple digit inflation now. Currently, it's at 3,125% with gold at $500+ per ounce. The most reliable indicator of inflation is the price of gold, according to some economists. Gold is real money no matter what the central bankers and politicians would have us believe. Link to comment Share on other sites More sharing options...
Dockwalliper Posted December 8, 2005 Author Report Share Posted December 8, 2005 Maybe we should gold plate all those sackys Link to comment Share on other sites More sharing options...
Capt-AWACS Posted December 8, 2005 Report Share Posted December 8, 2005 Actually, we have quadruple digit inflation now. Currently, it's at 3,125% with gold at $500+ per ounce. The most reliable indicator of inflation is the price of gold, according to some economists. Gold is real money no matter what the central bankers and politicians would have us believe. Still waiting for an answer on the 50cent bill 28... Actually if you only use the value of gold and turn that value into the "inflation" indicator, gold has deflated from the horrid Carter price of $2000 an ounce- IN today's dollars of course. Gold is only money if I or anyone else is willing to accept if for payment of a service. I do like my gold "bling" but I wouldn't trade it for anything at the moment, so it is decoration, not currency. Ciao, and Hook 'em Horns, Capt-AWACS, Like Freedome Thank a Veteran, Like Reading Thank a Teacher Link to comment Share on other sites More sharing options...
crystalk64 Posted December 8, 2005 Report Share Posted December 8, 2005 Bustchaser I couldn't disagree with you more! People can and will use the Sackie and a great number of folks have just give up looking for them as the banking industry WILL NOT call out coinage THEY don't want or need. My own bank has asked me repeatedly to get Sackies for them to give to the flood of customers who request them. I tried to get my branch bank to get me a case by calling the main bank and offering to pay up front and they still said NO! Coins involve shipment costs, labor costs, and storage space. The only reason Sackies are not around is the failure of the banking industry, or should I say GREED of the banking industry, who claim to serve their customers but ONLY serve themselves and their stockholders. It is nothing more than the rich taking care of the rich right down to the last penny! Don't try to blame the American public for NOT using what they CAN"T get! Link to comment Share on other sites More sharing options...
28Plain Posted December 9, 2005 Report Share Posted December 9, 2005 Bustchaser I couldn't disagree with you more! People can and will use the Sackie and a great number of folks have just give up looking for them as the banking industry WILL NOT call out coinage THEY don't want or need. My own bank has asked me repeatedly to get Sackies for them to give to the flood of customers who request them. I tried to get my branch bank to get me a case by calling the main bank and offering to pay up front and they still said NO! Coins involve shipment costs, labor costs, and storage space. The only reason Sackies are not around is the failure of the banking industry, or should I say GREED of the banking industry, who claim to serve their customers but ONLY serve themselves and their stockholders. It is nothing more than the rich taking care of the rich right down to the last penny! Don't try to blame the American public for NOT using what they CAN"T get! Did you offer to buy a $5,000.00 bag of them? That's the least the bank can buy from the Fed, you know. I'll get you a bag from the Federal Reserve Bank here in Richmond if you will pay for them plus armored car delivery. That's what your bank would have to pay. Who covers the cost of delivery? Banks are not public service institutions, they're businesses. If their customers (more than one) who use coinage in commerce wanted Sacs they would have them all the time. Face it, the "flood of people" asking for them want one each to use for whatever purpose. You can't expect them to get you a box of them when they would have to buy a bag and roll you a box. They would be stuck with the rest and it would cost them money. Since they won't take a loss, they're "greedy", huh? Being frugal with the shareholders' money isn't greed, it's taking care of business. That too few people want the silly little dollar coins is no failure of the banking industry, it's a failure of federal politicians and bureaucrats to learn enough about commerce that they can issue coins needed for commerce. Here's something you may not know: Banks get rolled coin from armored car companies, who only handle coins which are in demand for commerce. The armored car companies don't ask for dollar coins for their commercial customers (banks and large retailers) because there's no demand for them. That's why banks have to request dollar coins from the Fed. The Fed will only send them via armored car and there's a fee involved. Of course, you could go to a Federal Reserve Bank and buy a bag yourself. Who's stopping you? Link to comment Share on other sites More sharing options...
bustchaser Posted December 9, 2005 Report Share Posted December 9, 2005 CrystalK64, I do indeed agree with one line of your statement above... "the banking industry WILL NOT call out coinage THEY don't want or need." The reason for this, however, is not simply profit for the rich, but because (as you stated yourself) banks DON'T need them. The reason that they don't need them is that the general populace does not now nor has it ever wanted to carry them around for everyday commerce. The FACT--that's right, I said FACT) is that most banks can't give the damn things away to a majority of their customers. There is not now, nor has there ever been a reason other than seinorage for a dollar coin in this country. The dollar coin has been a failure as a circulating denomination in this country for over 200 years! It has never done anything except sit around and take up space. This is why there are such huge gaps in the minting history of the coin. It is why the mint time after time has been forced to melt such large quanities of them. Link to comment Share on other sites More sharing options...
syzygy Posted December 9, 2005 Report Share Posted December 9, 2005 There is not now, nor has there ever been a reason other than seinorage for a dollar coin in this country. A reason I hear is that it will save some $$$ Anybody know....how long does a $1 bill last and how much does it cost to print? How many $1 bills will have to be reprinted to match the circulating lifespan of a SAC? Link to comment Share on other sites More sharing options...
Fjord Posted December 9, 2005 Report Share Posted December 9, 2005 If the Pres. coins are anywhere near as popular as the state quarters we will have Billions of sackies sitting around doing nothing. It depends on what you mean by "doing nothing". When the SBA first came out, they minted many more than the demand required. When the Sac came out, they made the same error. However, the SBAs were used, to the point that by 1999 they had to mint more to meet the admittedly slight demand. The same demand exists for the Sac. The Sac might have gained acceptance had they actually been as available as their mintage allowed. Unfortunately, for a coin minted in the gazillions in 2000 it was hard to find. Also, as long as people have the previous option available and cannot get the replacement in quantity, they won't bother to change. Why would they? even if they wanted to, getting the dollar coin was a frustrating process, and dollar bills were and are available in abundance. Link to comment Share on other sites More sharing options...
Conder101 Posted December 9, 2005 Report Share Posted December 9, 2005 <A reason I hear is that it will save some $$$ Anybody know....how long does a $1 bill last and how much does it cost to print? How many $1 bills will have to be reprinted to match the circulating lifespan of a SAC? > These are rough figures A dollar note costs about 7 cents to make. A dollar coin (Sac size and comp) costs about 18 cents to make The dollar note lasts about 18 months The dollar coin lasts about 30 years. During the 30 year life of the coin it doesn't have to be replaced so it's total cost is 18 cents. During that 30 years the note would have to be replaced 20 times. Even if you assume no increase in printing costs, the dollar note will cost $1.40 during that time period. Link to comment Share on other sites More sharing options...
28Plain Posted December 9, 2005 Report Share Posted December 9, 2005 CrystalK64, I do indeed agree with one line of your statement above... "the banking industry WILL NOT call out coinage THEY don't want or need." The reason for this, however, is not simply profit for the rich, but because (as you stated yourself) banks DON'T need them. The reason that they don't need them is that the general populace does not now nor has it ever wanted to carry them around for everyday commerce. The FACT--that's right, I said FACT) is that most banks can't give the damn things away to a majority of their customers. There is not now, nor has there ever been a reason other than seinorage for a dollar coin in this country. The dollar coin has been a failure as a circulating denomination in this country for over 200 years! It has never done anything except sit around and take up space. This is why there are such huge gaps in the minting history of the coin. It is why the mint time after time has been forced to melt such large quanities of them. All true. Halves were a more important coin in commerce until silver content was removed from the coins. After gold was declared "property of the Federal Reserve", silver dollars had a brief period of utility during the depression, but once inflation resumed, paper one dollar notes resumed the popularity they had enjoyed before 1929. One objection to the dollar coin was its size. When the Ike was discontinued and the SBA was launched, it became apparent that size was only one reason the public didn't like using a one dollar coin. Inflation has made the dollar such a small amount of money that having several coins in one's pocket for small purchases is an annoyance rather than a convenience. The carriers (armored car companies) do not buy half dollars or dollars from the Fed anymore because neither coin is in demand by retail merchants. The coins are not popular with retail merchants because they are not popular with the cash handling public. As coin lovers, we are more likely to want examples of all the coins which are currently in production than are most people. I stopped liking halves and dollars once silver was out of the picture. Halves and dollars were used for saving when they were made of silver. Silver coins were great for hoarding because they have an intrinsic value which survives inflation. With base metal coins, hoarding is a way of losing value because base metal coinage becomes worth less as inflation proceeds. Link to comment Share on other sites More sharing options...
bustchaser Posted December 9, 2005 Report Share Posted December 9, 2005 A reason I hear is that it will save some $$$ Anybody know....how long does a $1 bill last and how much does it cost to print? How many $1 bills will have to be reprinted to match the circulating lifespan of a SAC? So, when has fiscal responsibility been a guiding factor in the government? The total amount of money saved over the estemated 25 to 30 year life span of a year's production of dollar coins--if the government did withdraw the paper alternative would not pay for a week's interest on the national debt. (Most studies I have seen say not a day's worth!) The bottom line is that manymore people in this country don't want to use a dollar coin then do. That has not changed in over 200 years. As long as that situation exists then the change should not be forcably made--irregardless of what we collectors (yes, even me too) would like to see. Link to comment Share on other sites More sharing options...
bustchaser Posted December 9, 2005 Report Share Posted December 9, 2005 So, when has fiscal responsibility been a guiding factor in the government? The total amount of money saved over the estemated 25 to 30 year life span of a year's production of dollar coins--if the government did withdraw the paper alternative would not pay for a week's interest on the national debt. (Most studies I have seen say not a day's worth!) The bottom line is that many more people in this country don't want to use a dollar coin then do. That has not changed in over 200 years. As long as that situation exists then the change should not be forcably made--irregardless of what we collectors (yes, even me too) would like to see. Edited to add: Sorry for the double post. I was actually attempting to edit a typing error in the original and ended up quoting myself instead. Link to comment Share on other sites More sharing options...
Dockwalliper Posted December 9, 2005 Author Report Share Posted December 9, 2005 The origional version of the bill as Rep. Castles wrote it included a mandate that banks activly distribute the new coins or lose thier FDIC status. This was the first thing to get changed too. Link to comment Share on other sites More sharing options...
bustchaser Posted December 9, 2005 Report Share Posted December 9, 2005 The origional version of the bill as Rep. Castles wrote it included a mandate that banks activly distribute the new coins or lose thier FDIC status. This was the first thing to get changed too. And it should have been changed! The govenment has no right to force private businesses to lose money for the "privilege" of providing a service which their customers don't want. Link to comment Share on other sites More sharing options...
Kat Posted December 9, 2005 Report Share Posted December 9, 2005 ENOUGH!!! Just tell me what to do with this pile of 300+ Sackys I'm sitting on! After I read this yesterday I went to the Quickie Mart and got a couple of 20 oz. pops to take to work. I put three Sackys on the counter cause I figure I didn't need 'em anymore and the girl acted like she'd never seen one before in her life. I then stopped in the bank to deposit paycheck and told the tellers who watch out for things for me and they all laughed. They said the higher ups in their bank hated them and discouraged use of them. Link to comment Share on other sites More sharing options...
Tiffibunny Posted December 9, 2005 Report Share Posted December 9, 2005 ENOUGH!!! Just tell me what to do with this pile of 300+ Sackys I'm sitting on! After I read this yesterday I went to the Quickie Mart and got a couple of 20 oz. pops to take to work. I put three Sackys on the counter cause I figure I didn't need 'em anymore and the girl acted like she'd never seen one before in her life. I then stopped in the bank to deposit paycheck and told the tellers who watch out of things for me and they all laughed. They said the higher ups in their bank hated them and discouraged use of them. I've used them with no problems around here. I get bunches of them from my mom since she works for the Post Office. Link to comment Share on other sites More sharing options...
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