Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program.
Looking4morecents said: Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program. It seems to me that the real "lying, cheating, bastards [who] have raped the system for too long," the "scum-buckets [who] have been leaching money from the taxpayers," are the congressmen who mandated this asinine program, knowing full well that it would be a fiscal sinkhole, but choosing to do so anyway in a cynical move to buy the votes of certain special interest groups.
ExtremeSaver said: Looking4morecents said: Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program. It seems to me that the real "lying, cheating, bastards [who] have raped the system for too long," the "scum-buckets [who] have been leaching money from the taxpayers," are the congressmen who mandated this asinine program, knowing full well that it would be a fiscal sinkhole, but choosing to do so anyway in a cynical move to buy the votes of certain special interest groups.
Moving from bills to coins is technically a long-term fiscal savings, but it requires too great a change in the way people handle money. What we really need is synthetic poly bills like Canada has started to implement and like Australia, Brazil, and others have had for some time now.
Looking4morecents said: ExtremeSaver said: Looking4morecents said: Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program. It seems to me that the real "lying, cheating, bastards [who] have raped the system for too long," the "scum-buckets [who] have been leaching money from the taxpayers," are the congressmen who mandated this asinine program, knowing full well that it would be a fiscal sinkhole, but choosing to do so anyway in a cynical move to buy the votes of certain special interest groups.
Often correct. But I like change that's in the form of silver coin. I looked down the other day to find amongst my change a 1964 dime. I blinked hard and re-scrutinized that little sucker very hard but, sure enough it was silver, the real deal. That was change I really liked. And I still have that silver dime, let me assure you.
So the government is trying to save the tax payers the production costs and more importantly the cost to STORE THEM. It says in the article that they already have surplus $1.5 Billion sitting ..... Being a patriotic american, I am willing to take ALL OF IT to ease their pain.
And to save every other tax payer the grief, I will carry it all to the last coin myself, so thanks in advance for the help offers
This isn't hard... get rid of the dollar bill and only circulate the dollar coin. Screw people, they'll adapt... it's money. Its not like you'll go "no thanks" if you get dollar coins in change.
while we're at it, get rid of a worse leech: The Penny.
BLESS the U.S. MINT for helping those of us with 5% Chase AARP cards make a "mint" when the going was good. At my zenith, I was receiving 10K in coins and pocketing $500 in CashBack with each shipment (every 10-15 days). Many here were doing multiples of my efforts.
Though I didn't participate in the CC rewards with the mint, I recognize and applaud this as one of the few government programs which helped the sought after "middle class" even though it was never created to do so.
I guess no one will ever have a complete set now. Maybe instead of doing 70-80 billion of them, only do ten billion of them. The Gold coins are wanted, but only in uncirculated rolls. Ten billion would maybe be enough to generate interest among coin collectors.
sayhey said: BLESS the U.S. MINT for helping those of us with 5% Chase AARP cards make a "mint" when the going was good. At my zenith, I was receiving 10K in coins and pocketing $500 in CashBack with each shipment (every 10-15 days). Many here were doing multiples of my efforts.
Those were the days............
I thought we were gonna make it past the first page without someone blabbing about how much they made off of the mint. Should have known better.
ExtremeSaver said: Looking4morecents said: Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program. It seems to me that the real "lying, cheating, bastards [who] have raped the system for too long," the "scum-buckets [who] have been leaching money from the taxpayers," are the congressmen who mandated this asinine program, knowing full well that it would be a fiscal sinkhole, but choosing to do so anyway in a cynical move to buy the votes of certain special interest groups.
See how your congressman voted here: http://www.govtrack.us/congress/vote.xpd?vote=h2005-624The only "sinkhole" was that they insisted on continuing to print $1 bills along with the coins. If the plan is to save money by shifting from bills to coins (a valid plan), then you have to shift production from bills to coins, not maintain a full supply of both. This failed because they flooded the market with $1-unit currency in general.
Looking4morecents said: Good to hear. Too many lying, cheating, bastards have raped the system for too long. Scum-buckets have been leaching money from the taxpayers to abuse this program.What programis being "abused"? You do realize this has nothing to do with the directship program, which already died 6 months ago?
ellory said: Um. No. Cost to mint dollar coin is 16 cents. Sold for #1. Profit to taxpayer: 84 cents per coin
Minus shipping / handling. Credit card fees.
Call the profit 75 cents per coin to the taxpayer
You also have to factor all the storage fees and the costs to build the new storage vault that is currently underway.
I think they quoted a pretty substantial cost just to house all the $1 coins that go unused... in the end I think this might outweight those perceived profits.
They make nice poker chips. Have a nice 'ring' when thrown in the kitty and my poker buddies seem to like the feel of a real coin. Cheaper than a good quality Paulson chip (per chip).
Geckogod2 said: I guess no one will ever have a complete set now. Maybe instead of doing 70-80 billion of them, only do ten billion of them. The Gold coins are wanted, but only in uncirculated rolls. Ten billion would maybe be enough to generate interest among coin collectors.
FTA: U.S. Mint will produce a limited number of the coins, which “will be sold at a premium to collectors".
DigiornosHunter said: ellory said: Um. No. Cost to mint dollar coin is 16 cents. Sold for #1. Profit to taxpayer: 84 cents per coin
Minus shipping / handling. Credit card fees.
Call the profit 75 cents per coin to the taxpayer
You also have to factor all the storage fees and the costs to build the new storage vault that is currently underway.
I think they quoted a pretty substantial cost just to house all the $1 coins that go unused... in the end I think this might outweight those perceived profits. ?
Perceived profits? "The United States Government Accountability Office (GAO) has stated that discontinuing the dollar bill in favor of the dollar coin would save the U.S. government approximately $5.5 billion over thirty years"
If dollar coins are used over bills, I'd say the perceived profits are $183 million a year (5.5 billion/30)
Per the OP link, stopping production (and eliminating storage/construction costs), will save 50 million a year.
imbatman said: DigiornosHunter said: ellory said: Um. No. Cost to mint dollar coin is 16 cents. Sold for #1. Profit to taxpayer: 84 cents per coin
Minus shipping / handling. Credit card fees.
Call the profit 75 cents per coin to the taxpayer
You also have to factor all the storage fees and the costs to build the new storage vault that is currently underway.
I think they quoted a pretty substantial cost just to house all the $1 coins that go unused... in the end I think this might outweight those perceived profits. ?
Perceived profits? "The United States Government Accountability Office (GAO) has stated that discontinuing the dollar bill in favor of the dollar coin would save the U.S. government approximately $5.5 billion over thirty years"
If dollar coins are used over bills, I'd say the perceived profits are $183 million a year (5.5 billion/30)
Per the OP link, stopping production (and eliminating storage/construction costs), will save 50 million a year.
183>50
I was pointing out to people who think the $1 coin sales on their own are a money-maker for the government are incorrect due to storage costs likely taking most of that $0.75~ profit per coin.
I completely agree with you that ditching the dollar bill is MUCH more efficient and favor the coin vs the paper bill. I think the gov is touting $50m savings by stopping production - if we stopped production of the $1 bill estimated savings are 5-6+ times that - estimated at $250-300m per year I believe.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
Click to copy code and go to .