Waste, what waste?

[Tx Redneck]

[347Mike]

I don't get this and maybe the news anchor isn't telling us the whole story BUT if they are piling up so quickly and no one wants them doesn't that fucking tell you something?????????

I don't get it. If I am BBQing for friends and have 8 coming over im not going to cook 40 hamburgers and put rest in my fridge to only eat 2-3 and probably have the others waste....

[helosailor]

Just shows how out of touch Congress is with the American people. Since when have we wanted a $1 coin? When was it, like sometime in the 19th century?

[03trubluGT]

The last time I took the boys toScarborough Fair I brought $100 worth of those coins and split them between my kids so they could buy their own stuff. When they would go to pay for whatever they wanted, the people at the booths asked if they were real.

I just thought it would be cool to pay for stuff with gold coins in a 18th Century festival.

[Chas_svo]

Lockheed's change machines give them and all the vending machines there take them. I have quite a few of them stored but really don't like using them.

It's really bad when you only have a $20...you need suspenders for the change.

[EW]

Who wants to carry around a bunch of coins for ones?
$0.32/coin cost, $3,000,000 to transport them, and $650,000 for a new storage facility because no one wants them. Awesome.
No legit business can operate this way. Amazing.

[Binky]

$1 coins are already out in circulation, this just a special "dead president" edition. Kinda like the state quarters. The problem comes in when the gov't tries to play to collectors and then produce a non collectable coin. Congress shouldnt play speculative markets, they suck at it.

They (mint) probably didnt have any plans to release these mid run and were planning to dump them into circulation after they made them. When the media got wind of it, omg waste.
Who knows, the story was a bit one sided.

[ceyko]

Cash in hand is nice, but a lot of people don't carry much and just do it with debit cards.


I don't know any statistics, but I'd imagine coins/paper is still losing momentum compared to just having plastic. I thinks someone is padding someone else's pocket on this one.

[71chevellejohn]

I'll store them at my place for a fee.

[onemeangixxer7502]

Cash in hand is nice, but a lot of people don't carry much and just do it with debit cards.


I don't know any statistics, but I'd imagine coins/paper is still losing momentum compared to just having plastic. I thinks someone is padding someone else's pocket on this one.

Thats pretty mcuh every decision made in the government, its all about making some one some money.

[Binky]

I checked into it and they realease 4 designs a year, so the news report is correct - these are all unwanted coins. They are available for order, but only by banks and are pretty much only good for collectors as it costs money to get them. Not like the stae coins which were part of the circulated supply.

http://www.usmint.gov/mint_programs/$1coin/?action=schedule

[8mpg]

LOL... the ones in circulation were from all the credit card people. People have been buying $1 coins from the mint for face value with free shipping on credit cards and racking up tens of thousands of credit card points. The mint finally stopped in June/July accepting credit cards for payment because they realized what was going on.

People would order them by the $5000-10000 and then take them straight to the bank and deposit them where the bank would send them back to the reserve.

[svauto-erotic855]

This is nothing. You should see the loss they take on nickles.