No. of Recommendations: 1
I'll hazard being flamed again, to suggest there are positive aspects to a new $1 coin.
Coins are more durable than paper bills. Coins work more reliably in vending machines than paper bills. When I worked at the Office Depot warehouse in Plymouth, in the late 90s, the vending machines in the lunch room took Susan Bs. Put a five or ten dollar bill in the bill changer, and it spat out Susan Bs. The owner of that vending company apparently found it beneficial to him to create a Susan B ecosystem in that lunch room.
What have been the big pushbacks against $1 coins?
-no space for them in retailer's cash drawers. The President has ordered the end of production of pennies, which will open up a space in retailer's cash drawers.
-they're different. I would like to see a Venn diagram between opponents of $1 coins, the promoters of conspiracy theories about the peach colored $10 bills, when they came out, and support for the current administration. I would not be surprised to see a high degree of overlap. If that is the case, putting the picture of the current POTUS on the coins could squelch opposition, so the $1 coin program could get going.
Recall, Tim, on the Fool board, talked about how Canada made the shift: they simply quit making $1 bills, so people had no choice but use the $1 and $2 coins. The current administration has ordered an end to penny production, without provoking massive protests. We might be able to stop making $1 bills, and switch to a coin in this window of opportunity.
Steve
