Dollar coins at Cinco de Mayo festival

Dollar coins at Cinco de Mayo festival

Post by Iagos Foo » Tue, 08 May 2007 06:05:13



Yesterday I went to the local Cinco de Mayo festival which in addition to
the requisite brightly colored dancing folks included your standard array of
state fair rides.

At the fair portion of the event, I saw two dollar coin transactions.  In
one, a gentleman gave the game attendant a $20 bill and received a number of
mixed dollar coins as change.  Contrary to popular perception, the
transaction went off without a hitch.  Even the Susan B Anthony dollar in
the mix was not mistaken for a quarter.  A few minutes later I observed two
attendants exchanging some amount of cash (about $100) for a bag of dollar
coins.  This tells me that either the fair folks were stocking dollar coins
and using them as change, or (more likely) were receiving the coins in
notable numbers from their customers.  Euther option is a positive sign for
the maligned little coins.

I neither spent nor received dollar coins myself, though.  I bought tickets
rather than paying for my rides & games with cash.and my bank had no dollar
coins the last time I went.  I still don't understand how a bank can justify
letting itself run out of dollar coins.  If your customers want them in such
quantities that you run out and they still ask for more, why the heck
wouldn't they order enough coin from the fed to meet the demand?  It's basic
customer care.

IF

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Amista » Tue, 08 May 2007 10:14:01


"Iagos Fool" lamented and pondered anew and afresh:

Quote:
> ... I still don't understand how a bank can justify letting itself run out
> of dollar coins.  If your customers want them in such quantities that you
> run out and they still ask for more, why the heck wouldn't they order
> enough coin from the fed to meet the demand?  It's basic customer care.

No offense to any banking personnel who might be lurking here, but it seems
to me that there has been a big shift in that regard.  That is, there is no
longer a keen desire to woo the customer with stellar service.  In fact,
some banks that I've been in have made me feel like I was somehow intruding
and interrupting just by being there.  Of course, it didn't take me long to
decide to take my business elsewhere in those cases...

Amistad
'and you can bank on that'

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Padraic Brow » Tue, 08 May 2007 10:32:21


On Sun, 6 May 2007 14:05:13 -0700, "Iagos Fool"

Quote:

>Yesterday I went to the local Cinco de Mayo festival which in addition to
>the requisite brightly colored dancing folks included your standard array of
>state fair rides.

>At the fair portion of the event, I saw two dollar coin transactions.  In
>one, a gentleman gave the game attendant a $20 bill and received a number of
>mixed dollar coins as change.  Contrary to popular perception, the
>transaction went off without a hitch.  Even the Susan B Anthony dollar in
>the mix was not mistaken for a quarter.  A few minutes later I observed two
>attendants exchanging some amount of cash (about $100) for a bag of dollar
>coins.  This tells me that either the fair folks were stocking dollar coins
>and using them as change, or (more likely) were receiving the coins in
>notable numbers from their customers.  Euther option is a positive sign for
>the maligned little coins.

>I neither spent nor received dollar coins myself, though.  I bought tickets
>rather than paying for my rides & games with cash.and my bank had no dollar
>coins the last time I went.  I still don't understand how a bank can justify
>letting itself run out of dollar coins.  If your customers want them in such
>quantities that you run out and they still ask for more, why the heck
>wouldn't they order enough coin from the fed to meet the demand?  It's basic
>customer care.

Very interesting story! I wonder at this, though: could it be the
recent (Latin American) immigrants who can show the way to sensible
dollar coin use in the US?

Let's keep in mind that many LatAm countries have long had high valued
coins; and Ecuador, where the US$ is the national currency, uses a lot
of dollar coins (that might explain where some of ours have got to!).
When immigrants come _here_, they're already used to the things,
having used them on a daily basis back at home. Immigrants from other
countries will already have similar experience with their own large
value coins.

Banks justify themselves running out of dollar coins by simple
business sense. Apart from immigrants, most Americans don't use the
things; and apparently apart from immigrant businesses, most American
businesses don't use them either. Why stock a coin denomination (that
costs the branch money to get it) when it can't reasonably get rid of
them?

Of course, this doesn't _excuse_ the bank. But, if even two or three
major banks in a region got together and decided to use dollar coins
in stead of dollar bills, they'd soon deplete the incomming supply. As
it stands, the Mint isn't producing enough of the things to actually
ensure the needed amount for daily commerce.

Padraic

Quote:
>IF

--
Posted via a free Usenet account from http://www.teranews.com
 
 
 

Dollar coins at Cinco de Mayo festival

Post by Bruce Remic » Tue, 08 May 2007 10:36:55



Quote:
> "Iagos Fool" lamented and pondered anew and afresh:
>> ... I still don't understand how a bank can justify letting itself run
>> out of dollar coins.  If your customers want them in such quantities that
>> you run out and they still ask for more, why the heck wouldn't they order
>> enough coin from the fed to meet the demand?  It's basic customer care.

> No offense to any banking personnel who might be lurking here, but it
> seems to me that there has been a big shift in that regard.  That is,
> there is no longer a keen desire to woo the customer with stellar service.
> In fact, some banks that I've been in have made me feel like I was somehow
> intruding and interrupting just by being there.  Of course, it didn't take
> me long to decide to take my business elsewhere in those cases...

> Amistad
> 'and you can bank on that'

My local suburban ***ia BoA branch has used a WalMart-type greeter for
the past year.  Walk in the door and a smiling young man or woman greets
you, ready to offer help if needed.  Tellers are friendly and usually
willing to help with special requests.  An elderly lady at the window next
to me the other day asked for $200 in ones, but they had to either be new or
free from pencil/pen marks.  She said she was traveling to Russia and that
they would reject any ones that had marks on them.  As there were only a
couple customers in the bank, the teller hand selected 200 mark-free ones
for the lady.

Plus they also have Unc rolls of pres dollars.  I haven't asked for anything
else coin-wise, but maybe I should.

Bruce

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Sibirskmonet » Tue, 08 May 2007 10:32:15



Quote:
> No offense to any banking personnel who might be lurking here, but it
> seems to me that there has been a big shift in that regard.  That is,
> there is no longer a keen desire to woo the customer with stellar service.
> In fact, some banks that I've been in have made me feel like I was somehow
> intruding and interrupting just by being there.  Of course, it didn't take
> me long to decide to take my business elsewhere in those cases...

> Amistad
> 'and you can bank on that'

Tomorrow morning I have the distinct pleasure of closing two not so
insignificant accounts with a bank with rude personnel, that just sent me a
*** letter stating that I have had too many transactions on my account.
Then there is the bank up the street that the tellers save $2 bills and Ikes
for me.  Ah choices choices.
 
 
 

Dollar coins at Cinco de Mayo festival

Post by Fred Shecte » Wed, 09 May 2007 10:43:49


What city? Was the festival at a location that was reached by many via mass
transit? They may have had many dollar coins in their pockets as change for
$20 bills inserted in ticket/fare-card vending machines.

Or they may have just been extremely smart people who KNOW how to have a
good time.

;)

--
-Fred Shecter
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Quote:
> Yesterday I went to the local Cinco de Mayo festival which in addition to
> the requisite brightly colored dancing folks included your standard array
> of state fair rides.

> At the fair portion of the event, I saw two dollar coin transactions.  In
> one, a gentleman gave the game attendant a $20 bill and received a number
> of mixed dollar coins as change.  Contrary to popular perception, the
> transaction went off without a hitch.  Even the Susan B Anthony dollar in
> the mix was not mistaken for a quarter.  A few minutes later I observed
> two attendants exchanging some amount of cash (about $100) for a bag of
> dollar coins.  This tells me that either the fair folks were stocking
> dollar coins and using them as change, or (more likely) were receiving the
> coins in notable numbers from their customers.  Euther option is a
> positive sign for the maligned little coins.

> I neither spent nor received dollar coins myself, though.  I bought
> tickets rather than paying for my rides & games with cash.and my bank had
> no dollar coins the last time I went.  I still don't understand how a bank
> can justify letting itself run out of dollar coins.  If your customers
> want them in such quantities that you run out and they still ask for more,
> why the heck wouldn't they order enough coin from the fed to meet the
> demand?  It's basic customer care.

> IF

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Iagos Foo » Thu, 10 May 2007 12:24:38



Quote:
> What city?

Portland Oregon

Quote:
> Was the festival at a location that was reached by many via mass transit?

Yes.  I haven't taken public transportation here, but it is possible they
use dollar coins.

Quote:
> They may have had many dollar coins in their pockets as change for $20
> bills inserted in ticket/fare-card vending machines.

> Or they may have just been extremely smart people who KNOW how to have a
> good time.

Clearly this is the correct answer.

IF

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Jim Seymou » Fri, 11 May 2007 00:30:06


Quote:



>> What city?

> Portland Oregon

>> Was the festival at a location that was reached by many via mass
>> transit?

> Yes.  I haven't taken public transportation here, but it is possible
> they use dollar coins.

They do.  The "Metropolitan Area Express" (aka "Max") light rail trains
in Portland have machines at each stop that accept dollar coins as well
as dispense dollar coins in change.

--
Jim Seymour

 
 
 

Dollar coins at Cinco de Mayo festival

Post by geor.. » Fri, 11 May 2007 06:53:17



Quote:
> Yesterday I went to the local Cinco de Mayo festival which in addition to
> the requisite brightly colored dancing folks included your standard array of
> state fair rides.

Understand what Cinco de Mayo is.  It is an advertising ploy, lead by
Corona beer, to sell more Mexican beer and tequila.  The importers
observed just how successful St. Patrick's Day was at selling Irish
***ic beverages and thought they could do the same for Mexican
***ic imports.

Yes, it is about coins.  About *** lucre.  Even paper money!!!
But, other than that, it is nothing but an advertising ploy.

GFH

 
 
 

Dollar coins at Cinco de Mayo festival

Post by Terr » Fri, 11 May 2007 07:54:41



Quote:

>> Yesterday I went to the local Cinco de Mayo festival which in addition to
>> the requisite brightly colored dancing folks included your standard array
>> of
>> state fair rides.

> Understand what Cinco de Mayo is.  It is an advertising ploy, lead by
> Corona beer, to sell more Mexican beer and tequila.  The importers
> observed just how successful St. Patrick's Day was at selling Irish
> ***ic beverages and thought they could do the same for Mexican
> ***ic imports.

> Yes, it is about coins.  About *** lucre.  Even paper money!!!
> But, other than that, it is nothing but an advertising ploy.

> GFH

It sneaks up on me every year. Always mean to fly a French flag on that day.

TerryS