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Deep-six the $1 FRN, use coins instead, Rep. Schweikert urges

"Rep. David Schweikert is not relying on Americans changing their habits and voluntarily trading in their bills for dollar coins. His legislation would force people to give up the greenbacks."

http://azstarnet.com/news/local/article_9e8a63e2-56c9-5554-a...




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Intrinsic value or not, the $ coin's a waste if there are notes

Intrinsic value or not, the $1 coin's a waste if there are notes in circulation. The whole argument for the $1 coin was that coins last longer than notes and therefore are cheaper. But they gave no incentive to use the coins.

Every other country on earth withdrew notes that had a face value of the coins. Well, Germany had 5 mark notes alongside its 5 mark coins but they were very hard to find. Everybody simply used the coins.

Its only America that's so stupid as this.

"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"

It shouldn't be about the

It shouldn't be about the cost of producing a coin or a note. The coin should have intrinsic value, and the note should be redeemable in that coin. The American people have accepted the idea that money is whatever government says it is. This is not real money, it is currency. Real money has real value.

The reason people don't like coins is because you have to carry a lot of weight around in order to purchase anything. And this is because the coins are not really worth anything. If the coins had value, like the pre-1965 dimes, quarters and halves, we could buy a gallon of gasoline for a dime, or pretty close. So why did we allow our politicians to abandon silver coins?

I remember hearing that silver had become "too expensive" to use in coinage. I was young in those days and didn't really understand that it was not the rising price of silver, but the decline in purchasing power of the dollar. So what caused the decline in purchasing power of the dollar? Simple, too many of them were being printed. When government gets to use new paper dollars before anyone else, there is a temptation to "print a few more". Well, they have printed a whole lot more, and that's why the gasoline we used to get for thirty cents a gallon, the coffee we used to buy for fifteen or twenty cents, and the Coke we use to get for a dime are things of the past.