US gov't claims it can save $500,000,000 annually if people switch from paper dollars to $1 coins - Page 3

[eirual]

Another Canadian chiming in...

When the larger $1 and $2 coins came out I remember being frustrated when out-dated machines weren't equipped to actually accept the things, but that was short-lived. Because it was a quick shift, machines were quickly altered to accept both coins. Now, it's a non-issue.

I remember being miffed that coins would be more to carry (even as a waitress), but you addapt and over-come and again it's a non-issue.

I too, don't see why the gov't doesn't just make the change instead of campaigning to get people to make the choice.

[ArtsyMomma]

Originally Posted by CariOfOz

LOL ok YOU might have a good case for not being in love with them But you can always roll them to deposit at the bank! I wouldn't want to have to lug around 200bucks in coins either lol.

My bank also has a coin counting machine (like coinstar but they only charge 3%)

I don't think I would really mind using the coins instead, the savings to the gov't would be substantial and I think everyone would adjust - although part of my adjustment would be a quick trip to the bank almost everyday!

[sanguine_speed]

Originally Posted by ArtsyMomma

I work as a waitress, oh gosh I can only imagine how heavy my purse would be at the end of the day! I generally get $2-$5 tips (lunch at a pizza joint) in dollar bills...sometimes if I can't change in my $1 bills for a while I'll end up with $200 or so in $1's. Now, my CU's ATM's accept and count bills - that is very conveinent for me. They don't accept change.

I never spend change either, it goes right into my change bucket for a vacation!!

Here, people swap out their coins for bills at the cash (people who get tips). This works out well for the restaurant/retailer too as change is what gets depleted in giving change and saves them having to run to the bank all the time for coin.

[ArtsyMomma]

Originally Posted by sanguine_speed

Here, people swap out their coins for bills at the cash (people who get tips). This works out well for the restaurant/retailer too as change is what gets depleted in giving change and saves them having to run to the bank all the time for coin.

We can do that most of the time also, but if the restaurant already has a lot of $1's they won't change them at the register for us. It's a small pizza joint so we do a lot of cash transactions. When I worked nights as a bar manager at their fancy restaurant I cashed in my own small bills each night. When I was a server there more people put their meals on credit cards (not sure if it was the economy 2 years ago, or because people are more likely to use a credit card for a $60 meal than a $10 one)

[mamadelbosque]

I lived in Spain for a year and loved having 1 & 2 euro coins I definetly think the mint should just stop printing $1 bills and people would get used to it and be just peachy fine after a couple years.

[Logan]

Im in Australia. We have 5c, 10c, 20c, 50c, $1 and $2. Its been like this since I was born (or old enough to notice) basically so its all I know. I cant even imagine trying to take care of paper notes (ours are plastic and they still rip sometimes). If your wallet is getting heavy you just spend the coins on lunch instead of the note, pretty straight-forward really. I think the mint should just make the coins and stop printing the bills.

Correct me if Im wrong, but dont you have 1c coins?? You could easily do away with those. Although I guess maybe you have stuff which is actually a few cents? We certainly dont. You cant buy ANYTHING for 5c. And all shopping is rounded up or down to the nearest five cents. So if you pay $1.73 for something, its actually $1.75. Unless you use eftpos. I wonder if anyone here has actually calculated how much money you save annually by always using eftpos. You would have to be super frugal to care, but it probably does add up

But all the issues you seem to have with coins are seriously non-issues when you actually live with the coins. Oh and I once put all gold coins (here $1 and $2 are gold) into a small tin. Within a few weeks I had $300 saved in there just from change. So I second that it can help you save!

[Polliwog]

You can get single coins at my bank. In fact, that's where the Tooth Fairy gets hers when needed.

[Juvysen]

I'd be fine with switching - although i have a couple $1 coins that have been sitting in my purse forever, because I always forget I have them. Seriously, it's been years.

The penny? Not interested in losing the penny - I mostly buy from percent-off situations and not having the penny would then round to the nearest 5 cents? No that would annoy me, I think.

[ParisApril]

Originally Posted by Logan

Im in Australia. We have 5c, 10c, 20c, 50c, $1 and $2. Its been like this since I was born (or old enough to notice) basically so its all I know. I cant even imagine trying to take care of paper notes (ours are plastic and they still rip sometimes). If your wallet is getting heavy you just spend the coins on lunch instead of the note, pretty straight-forward really. I think the mint should just make the coins and stop printing the bills.

Correct me if Im wrong, but dont you have 1c coins?? You could easily do away with those. Although I guess maybe you have stuff which is actually a few cents? We certainly dont. You cant buy ANYTHING for 5c. And all shopping is rounded up or down to the nearest five cents. So if you pay $1.73 for something, its actually $1.75. Unless you use eftpos. I wonder if anyone here has actually calculated how much money you save annually by always using eftpos. You would have to be super frugal to care, but it probably does add up

But all the issues you seem to have with coins are seriously non-issues when you actually live with the coins. Oh and I once put all gold coins (here $1 and $2 are gold) into a small tin. Within a few weeks I had $300 saved in there just from change. So I second that it can help you save!

I'm Canadian and I'm fine with $1 and $2 coins. Not fine with the rounding up or down to 5c. I'm cheap and I know it would be rounded up more than rounding down! I want all the pennies owed to me. They add up!

[HipGal]

I wish I loved the $1 coins. But I always feel like I'm getting ripped off when I get a bunch of coins in change when I should be getting dollars. It feels like the $1 coins are worth less than the paper bills (though logically I know that isn't true - just my gut feeling). One time I owed someone a couple bucks and tried to pay them back with $1 coins and she said, "Oh, its ok, you can pay me back later."