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Should $1 Bills be Replaced with Coin? Tell Us

Can we learn to love the $1 coin, if it will save billions?

Americans have resisted the dollar coin. We like our small denominations in paper.

But phasing out the dollar bill and replacing it with a coin will save an estimated $4.4 billion over the next 30 years, Congressional auditors say.

For savings like that, can we learn to love the jingle of dollar coins?

On the pro-side of the change, the coin has a longer shelf life. Coins can last decades, where the paper bills typically have to be retired after four or five years, according to a report in the Boston Globe.

On the negative side, the paper bill would have to be completely eliminated for the savings to accrue. And it would take several years and up-front expenses to produce the coin.

Advocates point to the recent experience in Canada, where the $1 coin has proven a huge hit. And now a $2 coin has been introduced there.

Should the U.S. drop the dollar bills and make the switch? Tell us what you think in the comments section.

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Cathy Gumina Odom December 03, 2012 at 04:26 PM
Hmm. I would really miss the lighter dollar bill. But I guess a dollar coin could be just like a quarter. Only bigger.
Genji Schmeder December 03, 2012 at 04:48 PM
Australia and New Zealand use one and two dollar coins, so their smallest paper money is the five. Neither has a one-cent coin. Besides transforming the one dollar money piece from paper to coin, we should eliminate entirely the half dollar and the penny. The half dollar is no longer used, so better to stop minting it. In preparation for elimination of the penny, a new law would allow all debts paid in cash to be rounded to the nearest five cents by preference of either party. Note that the listed amount, say $12.34 would not change with exactly that amount due by check or credit-card, whereas cash payment would be rounded by one or two cents. The reason for not forcing an invoice to be listed rounded is to make this easier, same with the "preference by either party" option, but those aspects can be reworked for maximum convenience.
MICHAEL WILSON "Republican Kid" December 03, 2012 at 05:25 PM
No need for the debate. All paper money will be replaced with Obama credits in the form of an Obama card. Now when you get your card you can upgrade. Your upgrade choice will be His face standard. Or for the feminist in you just ask for the michelle obama upgrade. If you want to ring in the New Year / fiscal cliff 2013 Upgrade with the Obama family photo. when your card arrives in the mail, There is no longer a need to go to work or even look for a job. Obama will have your back by crediting your card for $399.00 each month.
Unfiltered Steve Simoneau December 03, 2012 at 05:33 PM
Four dollar bills in my pocket feels like a napkin. Four dollar coins in my pocket feels like a handful of large metal washers. Nine dollar bills in my pocket still feels like a napkin. Nine dollar coins feels like I'm packing a hardware store. I stopped carrying coins with me years ago and dump any change I have as soon as I walk in my door. It no longer sounds like a wind chime when I walk and none of my pockets have holes worn in them.
Eileen Fowler December 03, 2012 at 06:13 PM
Only if they make the coin bigger than the quarter. I have mistaken those two coins before.
Unfiltered Steve Simoneau December 03, 2012 at 08:11 PM
Oh good, your pointless political comments are back. You had me worried when you didn't blame Obama for anything in our exchanges about flood control yesterday. It's not too late, I'm sure you can find some way to blame the weather on Obama.
Scott Yeager December 03, 2012 at 08:33 PM
Romney lost, gays will be married soon and...this is getting old.
Jerome Knutson December 03, 2012 at 09:16 PM
Hey Steve. Look on the bright side of this issue. Think of all the money you will be saving by dumping one dollar coins in the old cookie jar. On the other hand think of all the vending machines that will have to be retrofitted to handle the coin. Your can of soda will probably cost $1.25 instead of $1.00. Who is the winner?
Scott Yeager December 03, 2012 at 10:42 PM
"Your can of soda will probably cost $1.25 instead of $1.00." You need to lay off the fiction. Or is it comedy?
Jerome Knutson December 03, 2012 at 11:16 PM
Scott, It's called tongue in cheek. This issue is not a big deal. OK maybe $1.10?????
Paul Anderson December 04, 2012 at 12:01 AM
Why would you choose to carry nine dollar coins if you didn't want to? Coins are to spend, not to hoard. You dump your change because, by not changing our system of bills and coins, we have allowed our coins to become almost worthless. This is proof that we need to eliminate our low-denomination coins and bills. Get rid of the penny and dollar bill and you will have LESS weight in your pocket from coins than you do now.
Paul Anderson December 04, 2012 at 12:02 AM
Nickels and quarters are almost the same size, and they're even the same color, and nobody confuses those.
Unfiltered Steve Simoneau December 04, 2012 at 12:36 AM
Paul, I would not choose to carry nine one-dollar coins, but if I spent a ten-dollar bill for a pack of gum and the cashier was out of fives I would end up with a pocket full of coins. I dump my coins at home and in my truck because I dislike the weight of change in my pocket and since I carry my cell phone in my pocket the coins also tend to scratch the screen. Never mind that I have plenty of pockets for my phone, I am a creature of OCD habit and things have specific places! LOL!!! I agree that low-denomination coins have become almost useless. I occasionally challange a child by handing them a quarter and telling them that if they can buy something with it I'll give them a dollar. Haven't lost a dollar yet.
Unfiltered Steve Simoneau December 04, 2012 at 12:46 AM
Jerry, you have a point with the vending machine issue. A one-dollar coin means that the laundromat washing machines will be retrofitted and people will no longer be able to use Necco candy wafers in place of quarters in the coin slide. Not that I've ever done such a thing...
Cathy Gumina Odom December 04, 2012 at 03:00 AM
I hate the weight of change, so I try and use it up at Starbucks or drive through windows, when you have a few seconds to count out exact change. People today are confused if you give them $20.69 for an $18.69 bill. I just hate the pennies nickels and dimes! Quarters used to get me a candy bar. But those are like $1 now! I feel ready to have grand kids and tell them all these stories now! Well maybe in 10-15 years. I do miss my grandparents and all the great stories they had!
MICHAEL WILSON "Republican Kid" December 04, 2012 at 04:40 AM
Think of the millions saved doe businesses. With Emps not standing the 20 min trying to feed in a old paper bill.
Louisa Hufstader (Editor) December 04, 2012 at 05:23 AM
Break time belongs to employees, no?
Nicholas Claymore Watter December 04, 2012 at 05:38 AM
California labor law states that all waged workers working an 8 hour day are entitled to receive two 10 minute paid breaks and one 1/2 hour unpaid lunch. I think we can factor in the supposed "wage theft" I think you are trying to insinuate (with your poorly thought out joke) into at least one of those two break categories.
Cathy Gumina Odom December 04, 2012 at 06:03 AM
When I researched break time, Louisa, I think in Calif. it's still considered as "paid" break time, wheras lunch is "unpaid" break time. For police officers and dispatchers in Napa, it's a little different. I think dispatchers are still on paid lunch break or meal break - but someone more familiar with the recent contract would know better. I think that's why you'll see officers eating lunch in their uniforms. I did have a vending machine at Autodesk that gave out $1 gold coins if you put in $5 or $10 bill. I'd just keep change in my drawer for the vending machine. My husband, however, is an incredible pack rat and insists on rolling pennies, nickles, dimes and quarters and bringing them into the bank and depositing them.
Cathy Gumina Odom December 04, 2012 at 06:11 AM
Here's a link on Calif. state law for the meal breaks. I was hired by Autodesk in 2007 as a salaried employee. We weren't paid any over time. California changed or updated the law, and Autodesk made it compliant in 2009 that we were all changed over to hourly employees. We were still expected to do all the same work load and fill out our time sheets. We couldn't work more than 5 hours without taking our meal break. My manager first said I had to take an hour lunch in 2007 and that breaks were unpaid. He wasn't too up on California state law. We were salaried, so we all just put in a lot of hours. Afterwards, many employees just weren't putting down the true hours they were working, because they were scared of layoffs and repercussions. http://www.jdsupra.com/legalnews/supreme-court-of-california-clarifies-ca-73705/
Nate Smith December 04, 2012 at 10:09 AM
At the university I go to, ALL vending machines ALREADY accept dollar coins. Not to mention ALL of the parking meters and even though quarter machine at the union. If you look closely, vending machines also take $2 bills a lot of the time as well. The makers of these machines aren't just now taking this into account. This is nothing new. Anyway, we should sign the petition to stop the printing of $1 bills. Link is below: https://petitions.whitehouse.gov/petition/discontinue-printing-1-bills-facilitate-regular-use-and-circulation-1-coins/jLGkydyV?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl
Nate Smith December 04, 2012 at 10:18 AM
@Steve: I carried 100 of these in my pocket on Black Friday because I am a huge fan of the dollar coin and spreading them around this country. FYI, my pants did not fall down/get a hole in the pockets at any time and I was running them. Therefore, if you find that nine of them will make your pants sound like a wind chime or bust a hole through your pockets, maybe you should try different pants? @Paul, help spread the word. I am trying to tell people about a petition going on right now being sent to the White House. We need 25,000 more signatures by the end of the year. It takes <1 min to sign up for an account and sign the petition. See the link below! https://petitions.whitehouse.gov/petition/discontinue-printing-1-bills-facilitate-regular-use-and-circulation-1-coins/jLGkydyV?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl
Nate Smith December 04, 2012 at 10:21 AM
They are already different in diameter and thickness, not to mention the difference in color.

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