Saturday, March 31, 2007

My Proposed Money

The US Treasury, having failed in its effort to wean us from the penny, which costs more to produce than its face value, is now trying, again, to get us to use dollar coins which are more durable than paper dollars that must be replaced after a few months use.

The silver CARTWHEEL dollar was heavy and awkward to carry. The last of those had a picture of President Eisenhower on it. 

Then they brought out the Susie dollar.  Small and octagonal, it should have done the trick, but the public is fickle.  Susan B. Anthony was the portrait on that dollar.

When that failed to catch on, they brought out the Sacajawea dollar.  Gold and light weight, it should have become the standard and replaced the dollar bill, but it didn't.

Now the treasury has brought out the George Washington Dollar coin.  It is gold plated, larger and thinner than a quarter, and its fate is unknown.  One of these is pictured below, on the left, with a quarter, a nickle,  the long lasting penny, and a dime..

My proposal is to eliminate the penny, the nickle, and the quarter.  Make only dimes, dollars, and five dollar coins.  In in order to get people to stop using bills...quit printing bills.

My proposed coins would be as shown... concentic circles, each one made from the same blank.  They could be minted as one coin and puinched apart to make fives, ones, and dimes.  They could be coined from durable steel and last a lifetime.

Merchants would have to price things in even dime amounts, and would have to include the taxes within the price so pennies would not be needed.

There.  I have saved the government billions of dollars.  I am waiting for my thank yous.


msecz said...

Its a good idea but it will probably be just that an idea... remember the $2bill..... trouble is the government can't make up its mind. Wonder why this time. Maybe you should email someone in the government.

jaykolb said...

I prefer paper to metal because it's lighter and takes up less room in my pocket, wallet, or purse.  A little time in France convinced me of that.  Your washer design might solve the weight problem, if not the space.  (Um, are coins stamped or molded?)


garnett109 said...

I think they should do away with all money, and everybody's has a debit card that gets recharged every month.

madcobug said...

I hope they don't do away with paper money. Imagine the weight with all coins. Helen