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Survey: Coins or Bills?

by Lloyd Alter, Toronto on 03.16.07
Interact (surveys)

1794_one_dollar_b01_obv.jpgJenna's post about the new American one dollar coin generated some controversy, but I noted one commenter about "the public's willingness to use these coins." In Canada and the UK, there was no issue of choice; the mint just did it and we got used to it. The vending companies bit the bullet and suddenly we weren't feeding endless quarters into machines like Americans do for a chocolate bar or a parking meter, just one coin did the trick, and their sales went up because of the convenience. (there has been inflation, you know) The street people loved it- when the Canadian toonie came out one said "hey, the Prime Minister just gave me a raise!" So here is a two part quiz, questions for Americans and two questions for readers from countries where people have faced change and dealt with it.




Comments (7)

Maybe it's time to look at other options? Could coins be made more lightweight? Maybe made out of some kind of recyclable plastic? That is both lightweight, and durable.

When it comes to wending machines, I highly doubt that they would have to scrap them if the dollar notes are replaced by coins. All modern machines are easily configurable.

In Norway, where I live, we have 20, 10, 5, 1 and 0.5 kroner coins, which is about 3.25, 1.60, 0.8, 1/6 and 1/12 US $. (And 50, 100, 200, 500, 1000 NOK notes) This imposes no problems. However, most norwegians will very seldom carry cash, as everything is paid by credit or debit card, or with your cellphone. This eliminates my need for a wallet, and hence I stuff all my money (both coins and notes) whenever I actually have some, in my bare pocket. With keys, cellphone and other stuff. This gived the notes alot of stress, and probably reduces their lifetime to even less. (I've though about getting some sort of slim moneyclip just to do my part in extending the lifespan of mynotes).

Another thing to consider, is the effect on organized crime. In Norway, the only people carring large amounts of cash is either very old or criminal. Because of this, there has been discussion on making the money less practical.

Also, I think you should scrap the US pennies. In Norway, the 10 øre coin (about 1/60 US$) was scrapped some years ago. Price tags still includes prises such as 9.90 NOK, but you will have to pay 10 (unless you buy 3, with totals to 29.7 witch is rounded to 29.5, or pay with a card).

jump to top Svein Halvor says:

Who carries cash anymore? The only time I carry cash is when someone gives it to me to pay me back for something. And then I usually use it instead of my cards until it runs out. And I'm sure I'm not the only one.

jump to top Icelander says:

I generally don't carry cash, because it doesn't automatically record its use. My bank very conveniently records all of my plastic transactions, so I know where I am doing my spending. (Of course, so does anyone else who gets access to my records.

The unaccountability of cash makes me a more profligate spender, which makes my wife very frustrated. I tell people that she gives me cash the same way Andy Griffith used to give Barney Fife a bullet: "Now Barney, I'm giving you a bullet today. You're to put it in your belt, not in your gun. I want that bullet back at the end of the day."

Knowing that my transactions are recorded keeps me mindful of the finite amount of money I have in the bank.

jump to top Daniel Kim says:

You missed an option, the one I would vote for if it were there: I'm an American and I want a $1 coin...just not the presidential $1 coin that they're introducing.

So what do I think the $1 coin should be like? It should be gold for easier visual identification, but as gold is more valuable than silver, it should be smaller in size than a quarter. In fact, it should be between the sizes of a nickel and a quarter*. Since the quarter has a reeded edge and the nickel has a smooth edge, I'm not sure what the best thing to do about the edge would be.

Current $1 coins are too bulky to practical as a replacement for the $1 bill. A smaller coin would fix this.

* For those that don't know, common coins in the US in order of size are dime (10 cents, silver, reeded edge), penny (1 cent, copper, smooth edge), nickel (5 cents, silver, smooth edge), quarter (25 cents, silver, reeded edge). Dollar coins are not common, but are larger than quarters. If I recall correctly, only the penny is the same metal throughout, the others are cheaper alloy centers with a cladding of the surface material.

LA: in Canada, the loonie (one dollar coin) is bigger than a quarter, but like you suggest, it is a different colour, a sort of bronze tint.

jump to top Andrew says:

I really wish the US would move to using coin dollars! After spending time in Ireland I got so used to having the 1 and 2 Euro coins, they were so convenient.

jump to top lara [TypeKey Profile Page] says:

I'm all for replacing the dollar bill but it would be better to just track money electronically with credit/debit cards. No need to produce bills and carry heavy coins around.

jump to top dice says:

I'm an American and I'm fond of the dollar coin.

I use the public transportation system here in New Jersey, and have gotten used to the coins as they're the main type of change the ticket vending machines spit out.

On months where I cannot put down the money for a monthly pass, or where the purchase of such is a waste, dollar coins provide the ultimate convenience. For a train ride along river it is 1.25USD, and paying with two coins, a Dollar and a Quarter in a race against a train you may miss is much easier than fumbling with dollars in varying denominations.

jump to top Corgan says:

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