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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review June 30, 2011 / 28 Sivan, 5771

The dollar Americans refuse to spend

By Dale McFeatters




http://www.JewishWorldReview.com | Generally getting Americans to spend money is not a problem. The problem is that they spend too much, often borrowing to do it. We are an unashamedly consumerist society.

But there is one kind of spending Americans by and large will not do. They do not spent dollar coins. Americans are unfazed by the fact that we are the only country whose most common currency is not a coin. We are not envious of the euro coin, not even the 2-euro coin,

The coin has all kinds of advantages, the two biggest are that it lasts longer than the paper bill and it offers expanded opportunities for vending machines and transit authorities.

The public just doesn't care. People who get a dollar coin in their change generally drop it in a jar and leave it there. In the curious way money works, this is in effect extending the government an interest free loan equivalent to that stash of coins. If you want to make the Treasury sweat, even more than it is already, take the coins and buy a T-bill, just like the Chinese.

Undaunted by this overwhelming lack of interest in dollar coins, the government has tried three times to entice its normally free spending citizenry to spend dollar coins.

From 1979 to 1981 it minted 41 million Susan B. Anthony coins. Anthony was a tireless advocate of suffrage, abolition, equal rights for women and temperance; well, three out of four isn't bad.

Despite the catchy name, the Susie, it failed to catch on and most of those coins are still around somewhere, just not in general circulation. The last of the Susies was minted in 1999 as boxed proof sets in hopes collectors would snap them up. It took five years to unload them all.

In 2000 the government came out with what seemed the most promising coin yet, the Sacagawea, the tough, very able and smart Shoshone woman who accompanied the Lewis and Clark expedition. The coin features a fetching image of Sacagawea, with her baby, Jean Baptiste, peeping over her shoulder.

You'd have to be pretty cold-hearted not to want to carry around a pocket full of Sacagaweas but that coin too went unspent although it is still being minted.

In 2005, Congress passed the Presidential Coin Act, calling for a coin to honor all the presidents to be minted at a rate of four presidents a year. This year we're up to Johnson, Grant, Hayes and Garfield, meaning only 24 presidents to go.

This program isn't doing well either, but Congress isn't going to pull the plug on it. What parent wants to face a sobbing young numismatist, "But, daddy, where's my Chester A. Arthur and Grover Cleveland? Congress promised, and Congress would never break a promise, would it?"

The upshot of this, according to the earnest sleuths at NPR's Planet Money, is that 1 billion dollar coins are just sitting in a Baltimore warehouse waiting for some consumer to adopt them.

Sixty percent of the coins are in circulation, NPR says, but you couldn't prove this by most people because they never see them. The other 40 percent are just sitting there. It is said that the Fed is running out of space for them.

The government could play hardball by insisting that all tax refunds be redeemed in dollar coins but it won't. In the meantime, there's always Yucca Mountain.

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Previously:

06/27/11
: The hangman doesn't cometh

© 2011, SCRIPPS HOWARD NEWS SERVICE

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