The real reason the new presidential dollar coins will never replace the paper bill

[Perky]

Strippers!

They will revolt.

[youngdem]

1. Nah, they come with a coin slot....

:hide:

[Perky]

Wow

are you in for it now.

Get your your fireproof skivies and flak jacket on. You are soooo going to get flamed

[William769]

3. Don't they already have a slot?

:hide:

[INdemo]

6. Well we know some smart a&& would heaat one up with a lighter and then

Wooooow....ouch

[Coexist]

8. *ahem*

http://www.youtube.com/watch?v=NzvAdUO0Gjo

Enjoy!

[ProdigalJunkMail]

11. LOL n/t

[youngdem]

22. Thanks for that.

:rofl:

[AllegroRondo]

16. Funny, when I was in Korea....

I saw a stripper give change for a 10,000 won bill, without using her hands.

[youngdem]

23. My imagination is really working...is it as obscenely obvious as it seems?

[POAS]

2. Hey if your not using

Lincolns or Hamiltons (at least) your just not going to get much attention from a stripper.

[INdemo]

4. Funny..Never thought about that

I was expecting some real serious reason and that brought a laugh..but come to think of that is serious..FUNNY!

[ProdigalJunkMail]

5. when we move to a cashless society...

they will have to install a card-reader...or maybe one of those fast-pay kind of things...

sP

[postulater]

12. I'd be worried about where they swipe it

[Perky]

18. Yeah I can just see it now

"oo baby how long is your fast-pay wand"

Next thing you know we will be going from pinky-sized wands to one's approaching "light sabre" size....lol

[JVS]

7. no dollar bills means no mandatory tipping

[conscious evolution]

9. No--It means they

get a rise...I mean a raise!

[KharmaTrain]

10. You Only Tip A Stripper $1?

eom

[Tin Man]

13. Not minted with intention to replace paper - Intent is for $1 coin to be *collected*

Everytime that some collector exchanges a $1 Paper Note for a $1 Presidential Coin (and subsequently never spend that coin again) - the US Treasury makes a profit of roughly 90 cents. These coins are expressly targeted at collectors, with the intention of becoming a "cash cow" for the Treasury.

"Kids, collect all 43!" means $38.70 profit for Uncle Sam.

http://en.wikipedia.org/wiki/Seigniorage

[Benhurst]

14. Real reasons:

They need to do away with the one Dollar bill and replace it with a two Dollar bill as the lowest denomination, thus freeing up a tray in cash registers for the latter.

They need to do away with the penny, thereby freeing up a draw in cash registers for the new Dollar coins.

In order to do this, though, the government will have to admit the Dollar (and thereby the penny) aren't worth what they used to be.

And the strippers will be very happy when the cheapskates are forced to use $2 bills instead of ones.

[Tin Man]

15. Wouldn't it be a lot easier to simply drop the penny?

[Benhurst]

17. The penny needs to go. But the one Dollar note does as well. Its

purchasing power no longer justifies paper currency.

If you gave a child a Dollar in the early Fifties, he or she could buy 20 full-sized candy bars. Now, the same Dollar would only buy 2 if they were on sale at a special price.

[Tin Man]

21. Good point re: purchasing power as the driving distinction in establishing form of currency

...and agree that, in light of diminishing purchase power of US currency, "shifting" the coinage/banknote breakpoint makes a lot of sense.

FWIW, in Japan the largest coin is 500y (roughly $5), the smallest note is 1000y. Considering japanese cost-of-living, this would seem to be a logical breakpoint - and perhaps serves as an example for the need to make a "shift" in the US.

[muriel_volestrangler]

26. Roughly the same in the UK

£2 coin (~$4); £5 note (~$10). The last time the UK had a note worth half a pound - roughly what a dollar is now - was before our money went decimal - ie 1971, when it was "10 shillings".

[Greyhound]

27. The only way we'll ever get rid of the penny is if they put Lincoln on

another coin. Illinois politiwhores will never allow the penny to die.

[Drifter]

19. No they won't ...

Many strip clubs use $2 for change. This puts more money in the g-strings.

Cheers
Drifter

[Benhurst]

20. I bow to your superior, I trust hands-on, knowledge.

:evilgrin:

[Drifter]

24. Actually no ...

I can not even remember the last time I was in a strip club. Most likely a friends stag party more than 10 years ago.

I am a currency collector.
There are several groups of people who regularly use $2 for a specific reason. Like I mentioned they are used in strip clubs. There is also a group of college football fans that use $2s stamped with the team logo when they travel to away games. The reason they do this is to highlight their financial impact on the local communities they visit.

Cheers
Drifter

[ironflange]

25. Canada ended the paper $1 bill when the coin came out

Same thing later on with the $2 coin. Strip clubs are still as busy as ever, and I figure the girls like it because the minimum tip is now five bucks.