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Old 07-18-2011, 09:34 PM   #1
vigalante
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Default Fed Res. STUCK with over 1.2 BILLION DOLLARS of Presidential dollar coins!

The BRILLIANCE of the government is STUNNING!!!!

The Federal Reserve’s surplus inventory of Presidential dollars has ballooned to a whopping 1.252 billion coins in three and a half years, with collectors remaining the primary consumers for the coins.

Storage has become such a problem that a new storage facility is being built at a cost of approximately $650,000 at the Federal Reserve Bank of Dallas to handle the surplus inventory, according to the 2011 Annual Report to the Congress on the Presidential $1 Coin Program submitted in June by the Board of Governors of the Federal Reserve System......

http://www.coinworld.com/articles/fe...s-1-2-billion/
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Old 07-18-2011, 09:38 PM   #2
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Throw them at the peasants...

It will amuse Queen Obungo.
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Old 07-18-2011, 09:44 PM   #3
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Quit printing and distributing single dollar bills. This problem will be quickly solved.
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Old 07-18-2011, 09:47 PM   #4
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Melt them down and make new coins that don't have anything in any way shape or form associated with Bam Bam and demand would probably start to be seen. The dollar is already losing value and the coin is probably not worth the metals used to make it with Bam Bam involved.
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Old 07-18-2011, 09:49 PM   #5
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Quit printing and distributing single dollar bills. This problem will be quickly solved.
So solve one inconvenience by creating a bigger one?

People don't use dollar coins because dollar coins are a pain in the ***. The dollar coin has been soundly rejected by the American people three times now. It doesn't matter what color they make it or who they put on it. It could be red white and blue with John Wayne on the damn thing and people still wouldn't use it.
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Old 07-18-2011, 10:00 PM   #6
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Quit printing and distributing single dollar bills. This problem will be quickly solved.
That's how they did it in Canada.
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Old 07-18-2011, 10:10 PM   #7
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I'd have a use for them if they ran them through a few more industrial processes.

Click the image to open in full size.
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Old 07-18-2011, 10:11 PM   #8
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So solve one inconvenience by creating a bigger one?

People don't use dollar coins because dollar coins are a pain in the ***. The dollar coin has been soundly rejected by the American people three times now. It doesn't matter what color they make it or who they put on it. It could be red white and blue with John Wayne on the damn thing and people still wouldn't use it.
Why are they a PITA? Because they fall out of G-strings?

My understanding is it is the Walmarts and Targets, and not the people, who don't want to deal with them. I personally don't mind them except too many might wear a hole in my pocket.
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Old 07-18-2011, 10:15 PM   #9
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Why are they a PITA? Because they fall out of G-strings?
Put fifteen of them in your pocket in the morning and see how far into the day you can make it before you go absolutely insane.
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Old 07-18-2011, 10:20 PM   #10
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Perhaps some here are old enough to remember the real silver dollars minted until 1935?.... Back in the mid 1950's when on a car trip to Calif. and passing through the Dakota's, Montana, and Nev. all you would get as change would be silver dollars. A paper dollar was a fairly rare item in the west.... I remember it well as I was a coin collector back then, and was able to collect all but one dated silver dollar from the old Carson City mint out of change!
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Old 07-18-2011, 10:21 PM   #11
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Put fifteen of them in your pocket in the morning and see how far into the day you can make it before you go absolutely insane.
I would probably go with five of them and a ten spot. They aren't meant to replace all paper money, just the 2 or 3 singles you might happen to carry at any one time.

Fifteen singles in my wallet would be a PITA also, literally.
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Old 07-18-2011, 10:25 PM   #12
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Quote:
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Perhaps some here are old enough to remember the real silver dollars minted until 1935?.... Back in the mid 1950's when on a car trip to Calif. and passing through the Dakota's, Montana, and Nev. all you would get as change would be silver dollars. A paper dollar was a fairly rare item in the west.... I remember it well as I was a coin collector back then, and was able to collect all but one dated silver dollar from the old Carson City mint out of change!
Which one couldn't you score, the 1881 or 1885?
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Old 07-18-2011, 10:29 PM   #13
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Which one couldn't you score, the 1881 or 1885?
More likely an '89-CC.
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Old 07-18-2011, 10:37 PM   #14
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Nevada still uses them for the slot machines.
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Old 07-18-2011, 10:38 PM   #15
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That's how they did it in Canada.
Everybody knows Canadia doesn't matter, ehhh The $1.00 coins are burdensome to carry around and really serve only a collectors role, IMO. Getting rid of the $1.00 bill also means that sales tax will have to be adjusted for each sale and guess which way the cost will be rounded to. Rounding down won't be an option for sure......
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Old 07-18-2011, 10:39 PM   #16
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Nevada still uses them for the slot machines.
That's much different than carrying them around to use as currency in every day normal situations. Those coins are very convenient to gamble with, though.
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Old 07-18-2011, 10:43 PM   #17
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That's how they did it in Canada.
Their coins are worth $2. Are you ever right?
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Old 07-18-2011, 10:45 PM   #18
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More likely an '89-CC.
BINGO!.... The only one that appeared to be uncirculated was the 1878, all the rest were fairly well worn, but almost unobtainable on the East coast.... back then could go to local banks, get $100 worth, look for dates, and take the remainder back to another bank..... finally ended up missing 3 altogether, all out of the local banks. The 50's were a great time for a young coin collector!
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Old 07-18-2011, 10:45 PM   #19
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Originally Posted by Louie Detroit View Post
Fifteen singles in my wallet would be a PITA also, literally.
Fifteen bank notes and you're uncomfortable? Gotta switch the wallet to the front pocket.

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Nevada still uses them for the slot machines.
The PATH from Hoboken to NYC uses them, as do NJ Transit ticket machines. Nothing like putting in a twenty to pay for a two dollar ticket and having it spit out eighteen of those bastage dollar coins.
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Old 07-18-2011, 10:46 PM   #20
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Old 07-18-2011, 10:46 PM
 
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