Article about Golden Dollar hoarding

Article about Golden Dollar hoarding

Post by Paul Anderso » Sat, 15 Apr 2000 04:00:00



There's an article about how many people are hoarding the Golden Dollar
at:

   http://www.sltrib.com:80/04142000/nation_w/41212.htm

Paul

 
 
 

Article about Golden Dollar hoarding

Post by Bob Peters » Sat, 15 Apr 2000 04:00:00



Quote:

>There's an article about how many people are hoarding the Golden Dollar
>at:

>   http://www.sltrib.com:80/04142000/nation_w/41212.htm

>Paul

the article says people are hoarding an average of 13 of the brass bux each.
with 270 million people in the us, that means the mint will have to make 3+
billion of them just to satisfy the hoarders.


Learn all about how the NSA spys on you.  Search on "Project Echelon" at your
favorite search engine.  Another service brought to you by the Clintons.

 
 
 

Article about Golden Dollar hoarding

Post by Silver Eagle » Sat, 15 Apr 2000 04:00:00


It's definitely an interesting article.  Could be why I've never seen any
in circulation.  I was in Vancouver, BC right after Canada released their
$1 Loonies, and those were all over the place.  Almost everytime I got one
the clerk or waitress commented on their newness and uniqueness.  I kind of
expected the same thing here in the states, but leave it to Americans to
hoard them.

Personally, I'm saving all of mine to put in a vault so I can roll around
in them like Scrooge McDuck!

Ron

http://www.silvereagles.cx

Quote:

> There's an article about how many people are hoarding the Golden Dollar
> at:

>    http://www.sltrib.com:80/04142000/nation_w/41212.htm

> Paul

 
 
 

Article about Golden Dollar hoarding

Post by Paul Anderso » Sat, 15 Apr 2000 04:00:00




Quote:
> I was in Vancouver, BC right after Canada released their $1 Loonies, and
> those were all over the place. Almost everytime I got one the clerk or
> waitress commented on their newness and uniqueness. I kind of expected
> the same thing here in the states, but leave it to Americans to hoard
> them.

I was in Vancouver the day the $2 coin was released.  I easily got some
at the bank and *every* merchant not only had the coins in the drawer,
but gave them out as change.  Why would anyone hoard such a coin?

The difference is that Canada *replaced* their dollar and two-dollar
bills with coins, while the US did not eliminate the dollar bill when
they introduced the Golden Dollar.  Although the Wal-Mart promotion was
a good idea, both the promotion and the subsequent lack of coins
elsewhere gave the American public the impression that the coin was a
novelty and meant to be hoarded.

I like Canada's method better.

The indecipherable TV ads with George Washington's head are not going to
change public opinion.

Paul

 
 
 

Article about Golden Dollar hoarding

Post by JScrubs » Sat, 15 Apr 2000 04:00:00


Contrary to the reference to a "workhorse", they still have to get into
circulation.  I'm trying to use them everytime I buy something.  The feeling
here in my neck of upstate NY ranges from, "Ooo, neat" where the recipient
exchanges it for paper, to "Yuck, another ugly dollar" in which case it gets
tossed into the "slugs slot" of the cash register.  All in all the feeling
leans toward the negative with about half feeling apothetic and the other half
just not caring.  Oh well.  I'm at least trying.

Jerry

 
 
 

Article about Golden Dollar hoarding

Post by Marada C. Shradraka » Sun, 16 Apr 2000 04:00:00


Quote:

>The indecipherable TV ads with George Washington's head are not going to
>change public opinion.

Has anyone noticed the new one-- with the scene set in space?  I wonder where
the Sackie floating around up there came from....  Perhaps a certain shuttle
launch? }:-)
:releases the hounds:
--
Marada Coeurfuege Shra'drakaii
members.xoom.com/marada   Colony name not needed in address.
DC2.Dw Gm L280c W+ T90k Sks,wl Cma-,wbk Bsu#/fl A+++ Fr++ Nu M/ O H++ $+ Fo++
R++ Ac+ J-- S-- U? I++ V+ Q++[thoughtspeech] Tc++
 
 
 

Article about Golden Dollar hoarding

Post by WWS » Sun, 16 Apr 2000 04:00:00


Quote:

> Contrary to the reference to a "workhorse", they still have to get into
> circulation.  I'm trying to use them everytime I buy something.  The feeling
> here in my neck of upstate NY ranges from, "Ooo, neat" where the recipient
> exchanges it for paper, to "Yuck, another ugly dollar" in which case it gets
> tossed into the "slugs slot" of the cash register.  All in all the feeling
> leans toward the negative with about half feeling apothetic and the other half
> just not caring.  Oh well.  I'm at least trying.

I think it may take a year or so, but after the novelty finally
years off and they're everywhere, people will start to use them.
They just recently have started becoming available to local
banks here in Texas.

In the meantime, just think how big a profit the government is
making selling stamped brass slugs for a dollar each when they
only cost a few cents to make, and knowing that everyone across
the country is scrambling to get ahold of a few.

--

__________________________________________________WWS_____________

 
 
 

Article about Golden Dollar hoarding

Post by madmike2 » Sun, 16 Apr 2000 04:00:00


Quote:

> In the meantime, just think how big a profit the government is
> making selling stamped brass slugs for a dollar each when they
> only cost a few cents to make, and knowing that everyone across
> the country is scrambling to get ahold of a few.

Not much different from those one cent, five cent, ten cent, twenty-five
cent and fifty cent Cupro-Nickel Clad slugs that only cost a few cents
to make... what's the point? We know we're not on the gold standard
anymore... right? I've got a mint-sewn bag of Twenty-Five Cent (**insert
state of your choice here**) Cupro-Nickel Slugs... any takers?

(That's a joke you rabid quarer fans)

Michael Jobes
http://www.madmike.com

 
 
 

Article about Golden Dollar hoarding

Post by David_R.. » Mon, 17 Apr 2000 04:00:00


Quote:

> Why would anyone hoard such a coin?

Because hardly anyone actually wants to use them.

--
2000 is NOT the 21st century.  2001 is.  You can look it up at U.S.
Naval Observatory http://aa.usno.navy.mil/AA/faq/docs/millennium.html

"Carthage must be destroyed!"  Cato the Elder, inventor of dot sigs

Sent via Deja.com http://www.deja.com/
Before you buy.

 
 
 

Article about Golden Dollar hoarding

Post by Marada C. Shradraka » Mon, 17 Apr 2000 04:00:00


Quote:
>Because hardly anyone actually wants to use them.

I do.  I've used three for food purchases, three at a jumble sale, and one for
a donation.  I'd much rather use a readily accessible dollar coin for a small
purchase than fighting with a wallet filled to bursting with losing lottery
tickets and cards for services I don't use to retrieve a dollar note..
--
Marada Coeurfuege Shra'drakaii
members.xoom.com/marada   Colony name not needed in address.
DC2.Dw Gm L280c W+ T90k Sks,wl Cma-,wbk Bsu#/fl A+++ Fr++ Nu M/ O H++ $+ Fo++
R++ Ac+ J-- S-- U? I++ V+ Q++[thoughtspeech] Tc++
 
 
 

Article about Golden Dollar hoarding

Post by Quadrig » Mon, 17 Apr 2000 04:00:00


Quote:

> >Because hardly anyone actually wants to use them.

> I do.  I've used three for food purchases, three at a jumble sale, and one for
> a donation.  I'd much rather use a readily accessible dollar coin for a small
> purchase than fighting with a wallet filled to bursting with losing lottery
> tickets and cards for services I don't use to retrieve a dollar note..
> --
> Marada Coeurfuege Shra'drakaii

I've spent several hundred Sacs thus far... with the price of gasoline
these days, it's easy to go through at least 30 a week just to keep my
car fed.  Plus, I use Sacs for just about every purchase under $20.00.

I'm glad my bank has started to let me have as many rolls as I want.
Restricting the coins to "5 per customer" only serves to reinforce the
perception that the dollar coins are somehow "special" and/or "scarce",
thus encouraging the hoarding frenzy.

Lately, I've taken to scratching up the surfaces of *some* of my
"spender" Sac dollars by throwing them on the ground and stepping on
them with a circular grinding motion.

Here.  Hoard THIS!  8^D
--
Kevin Colosa
Quadriga Ancients
Barton, Vermont 05822-0706

http://www.quadrigaancients.com

ANA Member #181192

 
 
 

Article about Golden Dollar hoarding

Post by Mark Stroud Jr. Ph. » Mon, 17 Apr 2000 04:00:00


Quote:

>>> Because hardly anyone actually wants to use them. <<<

I'll sure as hell use them.....better than looking at such a silly looking
coin.

Mark Stroud
Netherlands Coins & Stamps

 
 
 

Article about Golden Dollar hoarding

Post by Fred A. Murph » Mon, 17 Apr 2000 04:00:00


Quote:


> > Why would anyone hoard such a coin?

> Because hardly anyone actually wants to use them.

I hoard them because I can't GET them.  If I could walk into any bank and
get 500 of them, like I could get 500 dollar bills, I'd use the coins
exclusively for appropriate transactions.  When I have to drive 50 miles out
of my way to get them, I'm hoarding them until the supply increases.

I've used SBAs and $2 bills for change since 1979 and Ikes before that.  As
a dealer, tho, I would be foolish to hand out a coin in change that people
are willing to pay 50% over face value to get.

 
 
 

Article about Golden Dollar hoarding

Post by Steve Joy » Mon, 17 Apr 2000 04:00:00


I've saved 1 mint roll plus I have one in a 2x2, otherwise I'm spending
them like...well....dollars.
 
 
 

Article about Golden Dollar hoarding

Post by Karl C. Po » Mon, 17 Apr 2000 04:00:00



Quote:
>I hoard them because I can't GET them.  If I could walk into any bank and
>get 500 of them, like I could get 500 dollar bills, I'd use the coins
>exclusively for appropriate transactions.  When I have to drive 50 miles
>out
>of my way to get them, I'm hoarding them until the supply increases.

Lemme see if I'm following this. They're relatively "scarce" because they are
being hoarded. So... you're hoarding them... while waiting for them not to be
so "scarce" due to hoarding... ?!

Karl