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RE: Death to the Penny

in The Man Cave • 10 days ago (edited)

I was just talking with my wife about the Japanese 500 and 1000 yen coins, how they're worth $3 and $6.50 respectively. I said that I predict the US will stop printing one dollar bills and release all those 2000 Sacajawea dollar coins that are currently sitting in storage. Also stop printing 5 and 10 bills, and produce new $5 and $10 coins. Maybe with Trump's face on them!

I think the penny has stuck around so long as a psychological operation for the masses, an assurance that we haven't submitted to currency debasement, that a penny still has enough buying power to be worth minting and circulating. But now the facade is over, the psychological operation has been deprecated and the public will have to accept that today's "dollar" is yesterdays' "quarter".

You can still buy some tacos with change in your car.... it'll just be $1 and $5 coins.

10 days ago in The Man Cave by
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         8 days ago 

        The ¥1000 coin is only for commemorative purposes unfortunately and isn't generally circulated. Though we do really need one in general circulation, because with inflation, that ¥500 coin is rapidly becoming much less useful than it once was.

        Yeah I agree with you for why it stick around. I think also the mint was stuck on the idea of not rocking the boat. No new bold designs, no bringing back lady liberty and beautiful designs, no experimenting with coins for other values than what we've always used, just maintain the status quo. Even though they could easily bring back a $2.50, $5, and $10 coin and that would still be tradition since we had coins at those values at one point.

        I agree with you, a great first step would be finally stop printing the dollar banknote and release all the coins in storage. Get rid of the $5 and $10 next, but at the very least do that first step.

        But no one at the mint wants to rock the boat.

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               7 days ago 

              With USAID shutting down, and major cut-backs all over the place... the boat is being rocked. Time to get things done! !BBH

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