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According to CNN the US could save $150 million a year if we used coins for US dollars instead of bills. We print dollar bills because... I dunno, we just do. But the wear out so quickly we have to print more, and it's expensive. And it's a pain that they don't work well in vending machines. Coins would be great for that!

Instead, we still waste gobs of money making pennies which I've always said are a total waste of space and source of frustration.

Dollar coins are rare now. We kind of experimented with them, but with no plan to phase out dollar bills people didn't randomly opt-in for the change, not a huge shock. I wanted to support them though. They'd be good for us.

So friends, if you see a dollar coin, rejoice. Don't complain about the machine that kicked it out to you. Use it, spend it, keep it in circulation, it's saving us money!



Dec. 3rd, 2013 04:17 pm (UTC)
It may be that $2 coins actually make the amount of change bearable. I know that americans tend to carry a *lot* of singles, whereas I tend to have a couple twonies and a loonie or two. If I carried as many loonies as americans carried singles, then I could see that being heavier.
Dec. 3rd, 2013 04:29 pm (UTC)
It may come down to how things are priced. Most people in the US would rather carry a dollar bill than the equivalent amount in change. Also, prices like 10.99 or 10.95 tend to be common, so you could just give a cashier $11 and be left with a penny or nickel in change. It's mainly for convenience and speed. People would probably glare at you if you consistently counted out $.99 or $.95 cents in change all of the time, especially if there were lots of people waiting.
Dec. 3rd, 2013 05:44 pm (UTC)
But I wouldn't, I would just hand over a loonie ;) It's just something people get used to. We haven't had a dollar bill since 1987 or a two dollar bill since 1996 (I think), and nobody thinks anything of it. And no pennies since 2013. :)

On the other hand, I think electronic methods (Interac, CC) are more entrenched here, due to having an earlier centralized debit system than the US (and that has different and somewhat cheaper fee structures than the credit card systems)
Dec. 4th, 2013 09:29 am (UTC)
Well, you don't have a $1 bill to hand over any more, do you? XD

Like I said, if it cost businesses here less to do electronic transactions, I think some of them would stop accepting physical money. I could see gas stations going that way, since they are a popular target for armed hold-ups. (Some people would still try to rob them, but they'd take stuff like cigarettes or something.)

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