September 1 995
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STAR*TECH
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THE DOLLA
COIN DEBACLE
John Ridgway
Betson Pacific Sales Manager
Buena Park, California
Still stuck on quarter play? We're
the only country that is. Unfor-
tunately, competition dictates
fear in the hearts of the operator
that can't make that transition to
50 cent (or more) play. Okay, it's
not all your fault. After all, it is
hard in many cases to get your
players to part with two coins. My
theory is that it's more of a psy-
chological problem than finan-
cial. It just doesn't feel good in-
serting two coins in a slot. I think
the dollar coin is certainly the
answer, & I'm in great company.
According to the Register, the
Treasury Department is attacking
a House plan to replace the dol-
lar bill with a coin counterpart.
They claim that Americans don't
want to give up currency. Given
our governments infinite wisdom
record of the past, I guess I can't
quite agree with this analysis just
on that basis. Another excuse for
shelving the dollar coin? I found
this amusing. According to US
Mint Director Philip N. Diehl,
"we will end up with billions of
dollar coins on our hands again.
This is another attempt to force
the American people to accept
something they've rejected twice
in the past 25 years". He also goes
on to mention that our vaults are
full & we just can't find the room
to store any more dollar coins.
Typical rhetoric. I still remember
those big as saucer dollar coins
of the old days (I bet those felt
great in your pockets, I was too
young to carry any)! They
downsized the dollar coin and
came up with the brilliant Susan
B. Anthony coin. A stroke of ge-
nius! Exactly the size and feel of
a quarter, I just wonder why it
never was popular. I'll tell you,
you just have to wonder some-
times who really is making these
decisions. Of course these two
formats were unpopular, but that
doesn't mean that the American
people don't want a dollar coin.
I can tell you this, the dollar coin
would be the biggest shot in the
arm to the coin op industry that
we have ever seen!
Luckily, others in Congress don't
agree with Mr. Mint director and
that suits our industry just fine!
Some of the pro dollar coin ad-
vocates, in defense of the dollar
coin, are making some pretty as-
tute observations, such as the re-
alization that the coin would be
very cost efficient because,
though they cost twice as much
to mint, the can last 30 years as
opposed to 17 months for paper
bills (the fact that we could save
money scares me, it'll never fly
now!). Also sighted is the fact that
coins are easier to use in vend-
ing machines, parking meters,
and buses. If a gold, smooth sided
dollar coin were used they would
not be confused with other coins.
Of course, you have the negative
comments to contend with and
consider as well. The switch to a
coin would cost $ 79 million and
take at least 30 months to com-
Journal
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plete. And coin haters might turn
to the $2 bill, requiring more
printing. Of course, that sounds
ridiculous to me. Why would
someone turn to a format they
hate for one that was probably
received just as poorly? How
many $2 bills do you encounter
in a day?
The bottom line is that the argu-
ments for the dollar coin are
much stronger that th e one's
against. They will help revitalize
our industry and that of many
others.
And what can you do? Write
your congress man and get in-
volved! Let them know you want
this. This action will generate
more revenue for you in the long
run than anything else you could
do for your business today!
PRESIDENT
CLINTON OPPOSES
DOLLAR BILL COIN
WASHINGTON, DC.-The
White House . has come out in
opposition to the $1 coin. The
coin-op industry sees this move
as blatant politicizing of the dol-
lar coin issue.
The money-saving dollar coin is
currently included in the House
Republican Budget. The dollar
coin issue has over 100 sponsors
in the House while the Save The
Greenback legislation has a total
of seven sponsors.