Coins to replace dollar bills for Christmas

Heading for a piggy bank near you

 
1,468Views 12Comments Posted 13/11/2018

One dollar banknotes will be in short supply in the Christmas shopping frenzy as  The National Bank of Panama will not be distributing them to banks from November 16.

The order is temporary, although no deadline for the lifting of the measure has been set.

The reason for the move is to boost the circulation of the Canadian minted commemorative Balboa  coins marking World Youth Day(WYD).

The Juan Carlos Varela administration ordered 36 million of them The coin which is not popular among users is usually referred to as a "Martinelli " or by the more outspoken as a ladrone (thief), Piggy banks will likely be in big demand as overweighted purses and pockets are emptied.

Students of economics might be tempted  to quote Gresham's Law: "Bad money drives out good"



Comments 12

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Ramona Rhoades

Doug It took me 2 minutes to find that 3800 stores have closed. all of these stores have more than a few employees, all now out of work and no money to pump into the economy. I am sure in another 2 I could could find many more. I have no idea where the rosy picture of US economy is getting supported by reality. It will be interesting to see what happens in 2019.

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WhiskeyTangoFoxtrot

That was for a mint set for collectors. I recall $1000 for complete set boxed

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Myrna

My comment was not met as to the "cost" to make this coin. I want to know, will these coins cost me $1.00 if I go into the bank to purchase them!

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Doug

https://www.google.com/url?sa=t&source=web&rct=j&url=https://clark.com/shopping-retail/major-retailers-closing-2018/&ved=2ahUKEwitxqCoi9TeAhXO1lkKHQqaAqwQFjACegQICRAB&usg=AOvVaw2T9qAI6FL654Kwb3PyFwjK

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Richard Charron

I do not read or watch any MSM and in fact I do get my information by searching the internet very diligently. As another example of the strength of the dollar. A year ago it cost me $210.00 U.S. dollars to purchase 600,000 Colombian Pesos. Yesterday the cost was $186.00. I only deal with facts not hyperbole.

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Doug

Richard it is a lot of reading to post quotes about everything i read about EVERY night .thats what i do at night .read about the economy and health websites .maybe try reading other than the MSM news to get a better idea what is really happening .google is your friend .try googling ... companies closing this yr in the US for example . We can not talk news groups at face value as they all have there own idea .i dont want tbeir idea i want the true news and will decide on my own . Take for example the MSM says that silver and gokd are bad .not worth owning etc . Now at one time the 100 bolivar note was worth either 47 or 53 USD . Today that 100 bolivar note is used in the bathroom as a crumb on a table is worth more than it .if the people had bought say 3 oz of silver what would they have today . 47 or 53 USD . Te minimum wage in Venezula is something like 300.000 bolivars a month and it will buy 3 cups of coffee . I will not be replying to any more posts on this richard but start reading other non MSM news for your own sake

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Richard Charron

Please tell us which 6000 businesses are being shut down because I am unaware of this. Who is the "they" that says this is happening? As a matter of fact just this morning they released the information that small business confidence is at an all time high. Why do you insist on arguing against a stronger then ever economy, lowest unemployment for all and a strong dollar? It makes no sense.

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Doug

Not going to get into a match .do as you see fit Richard .but remember everything was going great in 1929 ,2008 until it wasnt .best of luck on the path you decide to take . A great economy does not shut down 6000 business like they say is happening this yr in the US

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Richard Charron

"Headed that way again"? The value of the dollar is climbing. Where do you get this information? As to world trade, everything is going according to plan. Pay attention and learn.

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Doug

For the $2 dollar Canadian coin that is like our 1 dollar coin it costs 30 cents to make

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Doug

Good to see .paanama is smart to get some of its own coinage out there . The US dollar has crashed twice before . And its headed that way again as countries are bypassing it in world trade .the US goverment has turned the USD into a weapon and this will be the end of it .along with Nixon closing the gold window in 1971

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Myrna

What is the price on these minted coins? Earlier I had read where they will cost about $20.00 each!

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