Updating US Currency

[sandorski]

Rounded, not "Rounded Up".

 

[Demo24]

Ditching the penny is a good idea. Ditching the $1 bill is also a good idea. I never knew America even had a $2 bill, that should be done away with as well in preference for coins. As for larger denominations, to prevent forgery, it has to be worth less than it would cost to forge. So yeah. Polymer bills, watermarks, that sort of thing. But I don't see the point of a $100 bill, let alone a $500 one. I've never been into a store where a $100 purchase could not be paid with eftpos or credit.

$2 is rare and I think no longer made, it is still in circulation and kinda cool. $100 are useful for large purchases where card won't work (aka, in person).


The main problem we have is that all the items are marked before tax on the shelves, if they went ahead and added tax they could keep items in similar amounts and we could work to eliminate some of these coins.


However I sure as hell don't want MORE coins. The dollar bill is quite useful and I would much prefer to carry 10 of those than 10 huge coins...fuck that. One thing I dislike about Euro currency is walking around with 5lbs of coins in my pocket.

 

[KeithTalent]

Does not. It's like a boost in the minimum wage; if you want to throw coins at bums it will cost you at least a nickel.

I hope they eliminate the penny soon, such a waste of resources.

I actually like the fact we have one and two dollar coins now; originally I was against it, but now I think it was the right call to eliminate the one and two dollar bills.

KT

 

[Jadow]

Ditching the penny is a good idea. Ditching the $1 bill is also a good idea. I never knew America even had a $2 bill, that should be done away with as well in preference for coins. As for larger denominations, to prevent forgery, it has to be worth less than it would cost to forge. So yeah. Polymer bills, watermarks, that sort of thing. But I don't see the point of a $100 bill, let alone a $500 one. I've never been into a store where a $100 purchase could not be paid with eftpos or credit.

The $2 bill is not widely circulated and printed rarely, but it is still an active currency, you can get them at banks, they're not hard to get.

A lot of Americans don't even know we have them, its fun to pay with them at Taco Bell.

I love the $2 bill and really like the picture on the back of it, wish it was more used.

As for getting rid of the paper 1 dollar bill, well because they're so common, they get trashed pretty quickly and it costs taxpayers a ton to keep them in circulation because they constantly have to be replaced. Coins are much more durable.

Also, it's a pain when you have like 9 dollar bills in your wallet and it's all fat.

 

[xanis]

Ironwing proposal:
Eliminate penny
Eliminate nickel (re-designate all existing nickels to be worth 25 cents)
Eliminate dime
Eliminate current quarter, new quarter to be same build as current nickel.
Eliminate fifty cent piece
Bring back Sacagawea dollar
Eliminate paper dollar
Re-design all remaining paper currency to be less butt ugly.

I remember a few years back seeing some new currency designs from some student and they were pretty nice. The idea behind them was to show different sides of America and make them more "spend-friendly" all while bringing them into the modern age in terms of design. Now that I think back on it, the design reminds me of the Euro's current one in some ways. I've actually been pretty interested in the idea of different currency designs affecting people's psychology and mentality on spending. I might actually start doing some research and see if I can maybe make this into a pet project or something.

As for getting rid of the paper 1 dollar bill, well because they're so common, they get trashed pretty quickly and it costs taxpayers a ton to keep them in circulation because they constantly have to be replaced. Coins are much more durable.

I wonder the feasibility of a recyclable currency would be? Make it out of some eco-friendly material and institute some programs to collect and recycle old currency. I could see this being financially beneficial to the government and the people.

 

[sandorski]

I hope they eliminate the penny soon, such a waste of resources.

I actually like the fact we have one and two dollar coins now; originally I was against it, but now I think it was the right call to eliminate the one and two dollar bills.

KT

I love the Toonie, my collection is growing rapidly and I probably have approx $70-100 sitting right here waiting for me to discover it.

 

[sandorski]

I remember a few years back seeing some new currency designs from some student and they were pretty nice. The idea behind them was to show different sides of America and make them more "spend-friendly" all while bringing them into the modern age in terms of design. Now that I think back on it, the design reminds me of the Euro's current one in some ways. I've actually been pretty interested in the idea of different currency designs affecting people's psychology and mentality on spending. I might actually start doing some research and see if I can maybe make this into a pet project or something.

Add an Audio Chip that plays Shopping Music! :thumbsup:

 

[Jadow]

Saw this on Wikipedia, what an awesome looking bill.

 

[sandorski]

Saw this on Wikipedia, what an awesome looking bill.

I would do the chick on the right side of the pic.

 

[KeithTalent]

I would do the chick on the right side of the pic.

The one on her knees? :hmm:

KT

 

[sandorski]

The one on her knees? :hmm:

KT

Left hand on her hip.

 

[mmntech]

Canada is mulling over eliminating the penny. We switched to $1 and $2 coins years ago. Coins are heavier though.

The US needs to better colour code it's currency. Makes it easier to find what you want without sifting through your wallet.

 

[Alone]

Canada has it right and wrong at the same time.

Eliminated $1/$2 bills in favour of coins (I don't mind the $1 coin, but the $2 coin is a bitch). They're getting rid of the penny, too, afaik. $100 bills and up are accepted at very few places these days due to counterfeits, and I honestly prefer $20's in mass over any larger denomination anyway.

So I say it should be...

Nickel
Dime
Quarter
$1 Coin
$2 Paper Bill
$5 Paper Bill
$10 Paper Bill
$20 Paper Bill
$50 Paper Bill
And $100 just because.

 

[lxskllr]

I think the UK goes up to £10 on coins. I'd be good with that for American money. Get rid of the penny, and all bills up to $10. There doesn't need to be anything greater than a $100 bill. Anything more than 10, and you should be using some other form of payment.

 

[JS80]

I hate coins. I would hate replacing $1 bill with a coin.

 

[jlee]

Eliminating the penny would turn a 6% sales tax to 10%, would it not? You know damn well they're not going to lower it..

 

[JS80]

Eliminating the penny would turn a 6% sales tax to 10%, would it not? You know damn well they're not going to lower it..

lolwut?

 

[Alone]

Eliminating the penny would turn a 6% sales tax to 10%, would it not? You know damn well they're not going to lower it..

Huh?

 

[lxskllr]

Eliminating the penny would turn a 6% sales tax to 10%, would it not? You know damn well they're not going to lower it..

It would be rounded like it is now. Sometimes you win a little, and sometimes you lose.

 

[Schadenfroh]

I hate coins. I would hate replacing $1 bill with a coin.

QFT, one of the main reasons I went all plastic is due to this fact.

 

[nageov3t]

what's the benefit to replacing the dollar bill with a coin?

 

[PieIsAwesome]

Get rid of it all and create a national, digital currency system.

 

[lxskllr]

what's the benefit to replacing the dollar bill with a coin?

It costs less since a coin stays in circulation longer. Bills wear out fast.

 

[SparkyJJO]

Get rid of the penny? No way.

They may seem "annoying" but the thing is everything would be rounded UP in price (no thanks) plus those pennies add up. I throw them in a jar and every once in a while take it to the bank and look I have a few bucks in pennies alone.

As for a digital currency, screw that. If it is digital, it can be hacked. Besides, how would you do personal transactions? And of course another avenue of taxing you too if the government decided to tax every transaction.

 

[PieIsAwesome]

Get rid of the penny? No way.

They may seem "annoying" but the thing is everything would be rounded UP in price (no thanks) plus those pennies add up. I throw them in a jar and every once in a while take it to the bank and look I have a few bucks in pennies alone.

As for a digital currency, screw that. If it is digital, it can be hacked. Besides, how would you do personal transactions? And of course another avenue of taxing you too if the government decided to tax every transaction.

Oh snap, I forgot about that. Yeah, nevermind, I like my tax-free personal transactions.