In the interest of beating a dead hose, I submitted the following to change.gov. If you’ve been reading the blog, you’ll know I’ve harped on this a few times in the past.
I have a very minor vision, in the grand scheme of things. I’d like to see the end of the $1 bill. Our paper money doesn’t last very long, and the $1 bill is lucky to live much more than a year. Hundred of millions of dollars are wasted every year reprinting the bills that are destroyed due to excessive wear.
The mint has tried, but not very hard, to get the $1 coin accepted, but until the production of these coins increases AND the production of paper bills decreases it will simply not happen. People are too used to it, and people are–despite the campaign motto of this election cycle–resistant to change. I’m also fairly sure that the fact that the bill is printed by one government entity and the coins minted by another doesn’t help the situation.
So, here’s my idea. First, reduce production of the $1 bill and ramp up minting of the $1 coins featuring past US Presidents. These coins are a good size and color and its about time we honored all our Presidents. Phase out the $1 bill over the next 5 years to zero impressions.
Second, eliminate the $2 bill and create a new $2 coin. Make it about the size of the old 50¢ pieces you occasionally see. Obviously, ABOUT the size. Introducing a new $2 coin that is minted in quantity while production of the $1 coins is increased will immediately make both coins more acceptable. If you’re going to make a change, make a big change, right?
Now, to encourage the new coins to be widely used and accepted, you need to choose someone for this $2 coin that is widely respected and admired. It’s not enough to put someone famous on it, it needs to be an American hero–perhaps even a martyr–with a wide base of support and admiration. You want people to like these coins. To want these coins. To want to USE these coins.
As you might guess, I have someone in mind.
Let me say, first, that I’ve been commenting on this for a while now. My first post on this was to a mailing list a good five years ago, if not more. I’ve blogged about it. I’ve bored my family with it. I’ve not assailed strangers on the street– yet. I’m just some geek from Colorado with an idea to save the Federal Government some cash, and I’m sure a lot of other people have the same basic plan. But I think the twist of having a $2 coin and increasing production on the $1 coin is the way to go on this. And the person to honor on this new coin is, I think, obvious.
It’s been 40 years since Dr Martin Luther King Jr was assassinated in Memphis, and I think it’s about time we put him on some currency. There are few Americans as universally admired, and I think the time is right.
And yeah, it’s a little bit or marketing to honor Dr King as a way to build support for new coins. So what?
Anyway, It’s not a solution to the health crisis, or a plan to fix Wall Street, but it’s something that I hope you will consider.
What do you think, sirs?
Push the button, Frank.[blip]