2001-03-24
Before the stamp machines at our local post offices went over to the SBA's a
few years ago, they would vend up to a 20 $ bill. However, they would only
give a maximum of 3 $ in change. You had to buy 17 $ in product, if you fed
the machine a 20 $ bill. with the use of the dollar coin, this problem was
solved.
The alternative for public transportation companies to using the SBA was to
mint their own tokens. But, tokens cost money to mint and they would be
constantly having to replenish their stock as people lose them or they wear
out. This is a cost burden to the transit authorities. The use of the SBA
or Sacagewea eliminates this cost. The government mints the coins, and if
people use the change machines, put in a 20 $ bill and get 20 dollars in
coins and spend them or use them elsewhere, the transit authorities are not
at a loss. They just go back to their supplier and get more for "free",
meaning there is no cost to them to produce them as there would be for a
token.
All vending machines made since the time of the first SBA's are required by
law to accept dollar coins and all do. Older machines in use will not have
a big enough slot to even allow a dollar coin to enter. If the machine is
new, but will not vend a dollar coin, it is because the feature is disabled
by switch settings internally. If this be the case, the best thing to do is
call the company that is responsible for filling the machine and express
your displeasure with their machine not accepting the dollar coins. Or, if
you happen to be near the machine when the attendant is there, you can
pressure him to enable the selection. If they give you a hard time, explain
to them that the coin is easier than having to fight with a bill changer
that won't accept old or worn money. And inform they that you would be
spending xx $ per week in their machine, but not until it accepts the dollar
coins. I'm sure that will get their attention.
BTW, as anyone ever received a decent looking, or new 1 $ bill in change?
Either from a store or a ban?. I never have. Everyone I've ever received
looks like it is 100 years old. One would think they aren't being printed
any more. Also, I understand that Equador and Costa Rica no longer have
their own currency. They use the US dollar. I wonder how many SBA's,
Sacagewea's and two dollar bills have made their way to these countries and
are used there, where people don't have these foolish inhibitions like
Americans do. Does anyone have a clue?
John
Keiner ist hoffnungsloser versklavt als derjenige, der irrtümlich glaubt
frei zu sein.
There are none more hopelessly enslaved then those who falsely believe they
are free!
Johann Wolfgang von Goethe (1749-1832)
----- Original Message -----
From: "Richard k Starke" <[EMAIL PROTECTED]>
To: "U.S. Metric Association" <[EMAIL PROTECTED]>
Sent: Saturday, 2001-03-24 23:03
Subject: [USMA:11805] Re: US One Dollar Coin Use....
> Stamp machines have given out dollar coins (SBA's) for nearly ten years
> now. The history behind that is the following:
> Previously, all change over a dollar was given out in quarters. So if
> you had 5 dollars worth of change, you'd get 20 quarters. So Post
> Offices always had a big demand on quarters. Then in the early 90's,
> some guy in the federal reserve noticed that there were stacks of Susan
> B. Anthony coins just sitting there, since neither the public, nor the
> banks demanded them. So, he figured, why not give them out as change in
> Post Offices (since that was part of the original idea behind the coin's
> production). So, dollar coins were distributed. Many public
> transportation & few vending services followed this idea. After a few
> years, around 1997, the supply of dollar coins was running out, since
> either people kept them (thinking they were very rare), lost them, or
> they simply wore out. So, continued production was needed. Then, they
> figured if they are going to have to make a dollar coin, why not make one
> to circulate regularly (after all, the US government wanted to do this
> for decades, but failed (Eisenhower coins were too big & SBA's looked
> like quarters). Since they saw Canada's "Loonie" was sucessful, they
> copied Canada's idea, & make the coin gold colored (only shinier to make
> it look more attractive [BTW, the Canadian's copied the US's SBA coin for
> the size of their "$1 coin]). So, basically, golden dollars were made
> for the machines, and perhaps in the future to replace the one dollar
> bill.
>
> >From what I heard, they are printing dollar bills to just replace the
> worn out bills, but they making dollar coins to meet the demand for new
> dollar bills. If this is true, then in a few decades dollar coins will
> outnumber dollar bills, but for practical purposes, this isn't a real
> plan. I have a feeling that in a couple of years, they will completely
> phase out one dollar bills once knowledge of the dollar coin is more
> apparent.
>
> =Rick
>
>
> On Wed, 21 Mar 2001 10:17:33 -0800 "Bill Potts" <[EMAIL PROTECTED]>
> writes:
> > Baron:
> >
> > The stamp vending machines at ALL Post Offices have given change in
> > dollar
> > coins for several years now. Apparently the USPS was able to get its
> > hands
> > on as many Susan B. Anthony dollars as it wanted. Now they're using
> > the
> > Sacagawea dollars.
> >
> > I'm not sure if anyone has specifically mentioned it yet, in this
> > thread,
> > but Canada had dollar coins (Loonies) and two-dollar bills in
> > circulation
> > together for several years prior to the introduction of the
> > two-dollar coins
> > (Toonies).
> >
> > Bill Potts, CMS
> > San Jose, CA
> > http://metric1.org [SI Navigator]
> >
> > > -----Original Message-----
> > > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On
> > > Behalf Of Carter, Baron
> > > Sent: March 19, 2001 07:19
> > > To: U.S. Metric Association
> > > Subject: [USMA:11743] Re: US One Dollar Coin Use....
> > >
> > >
> > > The stamp vending machines at my Post Office in Austin, TX give
> > > change in $1
> > > coins.
> > >
> > > Baron Carter
> > >
> > > -----Original Message-----
> > > From: Adrian Jadic [mailto:[EMAIL PROTECTED]]
> > > Sent: Monday, 19 March, 2001 09:21
> > > To: U.S. Metric Association
> > > Subject: [USMA:11712] Re: US One Dollar Coin Use....
> > >
> > >
> > > Agreed the $1 bill has to be discontinued. If the Mint does not
> > does not
> > > establish a sunset date for the printing of $1 bill the switch
> > will hardly
> > > happen.
> > >
> > > I was not able to get my hands on $1 coins. I asked at banks,
> > > Post offices.
> > > Nothing..
> > >
> > > A.
> > >
> > > -----Original Message-----
> > > From: kilopascal [mailto:[EMAIL PROTECTED]]
> > > Sent: Sunday 18 March 2001 21:05
> > > To: U.S. Metric Association
> > > Subject: [USMA:11697] Re: US One Dollar Coin Use....
> > >
> > >
> > > 2001-03-18
> > >
> > > Wrong! For it to be successful, the 1 $ paper bill must be
> > removed from
> > > circulation and no new ones printed. The present 2 $ bill can be
> > used to
> > > supplement the coin. A 2 $ coin will be the next logical step
> > after the
> > > population adjusts to the 2 $ bill in general circulation. As
> > > long as the 1
> > > $ bill continues to circulate, the 1 $ coin will remain in bank
> > vaults and
> > > piggy banks.
> > >
> > > Personally, I go every Saturday to the bank and request both 1 $
> > > coins and 2
> > > $ bills and spend only these. I doubt the stores and restaurants
> > I give
> > > them to recirculate them. But, at least many of the shops I go
> > > to recognise
> > > me from giving out the bills and know I frequent their businesses.
> > As a
> > > result, I sometimes get special deals and discounts. It works for
> > me.
> > >
> > >
> > > John
> > >
> > > Keiner ist hoffnungsloser versklavt als derjenige, der irrtümlich
> > glaubt
> > > frei zu sein.
> > >
> > > There are none more hopelessly enslaved then those who falsely
> > > believe they
> > > are free!
> > >
> > >
> > > ----- Original Message -----
> > > From: "Brian J White" <[EMAIL PROTECTED]>
> > > To: "U.S. Metric Association" <[EMAIL PROTECTED]>
> > > Sent: Sunday, 2001-03-18 14:26
> > > Subject: [USMA:11691] US One Dollar Coin Use....
> > >
> > >
> > > > Anyone see this???
> > > >
> > > >
> > > http://www.usmint.gov/pressroom/index.cfm?action=press_release&id=
> > 179&formBo
> > > ol=AND&formYear=ALL&group=1
> > >
> > >
> > > I also feel that for the $1 coin to be really successful, we need
> > to
> > > supplement it with a $2 coin as well.
> > >
> >
>
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