This Forbes article discusses the option of more prominently introducing the dollar coin. The positives and negatives are weighed as to if a more used dollar coins would help or hurt. The article argues that having a print and a coin dollar will only increase costs and more tax payer dollars.
I believe that both the print and coin in circulation together would not be beneficial. As we currently stand, the dollar coin is all but pointless because the print dollar is also being made. However if we were to only use dollar coins I think it would be better over time. We could follow the Euro in having paper money only above 5 units of currency. The Euro features 1 Euro coins, 2 Euro coins, and the smallest unit of currency is a 5 cent coin. At first there could be issues adapting to new currencies, however the benefits would help in the long run. This change in currency would mean that pennies would no longer need be manufactured, and 1 dollar coins would not get worn out as print dollars do.
I don't really think it would be worth it to start manufacturing the dollar coin. The experts said it; having both paper and a coin would just raise taxes and increase costs.
ReplyDeleteI'm not really sure what would be the point in producing a dollar coin if we already have a paper dollar. Personally, I like paper money a lot better than coins. I'm sure a lot of men would agree with that also. I see no benefit in producing a dollar coin.
ReplyDeleteA dollar coin ids much heavier than a dollar bill and would take up much more space. If it aint broke dont fix it. Keep the dollar bill.
ReplyDeleteI mean they all ready have a dollar coin. The golden dollar so I'm kind confused here. Can some explain?
ReplyDeleteDollar coins would be too heavy and take up too much space paper is the best way to go for denominations over $0.50
ReplyDeleteThe dollar coin is just outdated. We live in a time where we have thousands of dollars at our finger tips.
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