Frank Posted June 28, 2017 Share Posted June 28, 2017 For many years I have been advocating for the dollar coin. For over 40 years, many respected and highly successful bulk vendors joined together to try to convince our Government to eliminate the dollar bill and replace it with the dollar coin. Recently both the House and the Senate introduced the Coins Act. The Honorable Rep. Claudia Tenney (R -N.Y.) and the Honorable Bob Brady (D-P.A.) introduced legislation in the House – The Currency Optimization, Innovation, and National Savings (COINS) Act of 2017. Senators John McCain (R- Ariz.) and Mike Enzi (R- Wyo.) have introduced the Senate version of the Coins Act. "Republicans (74 percent), Democrats (68 percent), and Independents (65 percent) see common ground when it comes to replacing the dollar bill with the dollar coin when informed of the savings from making the switch." Source: The Hill Congress needs to support the COINS Act by Former Reps. Jim Kolbe (R-Ariz.) and Tim Penny (D-Minn.), Opinion Contributors - 06/26/17 I ask of you to take a few minutes of your time to email your Senators or local Congress Representative. I am showing you a copy of what I had written to my two Senators and local Congresswoman. You can copy and paste what I have written with your information and changes. Dear Honorable Representative Rice, My name is Frank Parisi and I am a local business owner and resident of Oceanside. I am involved in the bulk vending industry (small vending machines which dispense candy, gum and toys) and my family history dates back to 1942. Gumball machines are a part of Americana and they are slowly fading away due to the lack of the dollar coin. Our machines cannot afford costly bill acceptors. Recently, the Honorable Rep. Claudia Tenney (R -N.Y.) and the Honorable Bob Brady (D-P.A.) introduced legislation in the House – The Currency Optimization, Innovation, and National Savings (COINS) Act of 2017. Senators John McCain and Mike Enzi have introduced the Senate version of the Coins Act. I would like to make you aware that every industrialized leader nation today has a coin instead of a bill for their currency. According to this most recent article in The Hill... http://thehill.com/blogs/congress-blog/economy-budget/339431-congress-needs-to-support-the-coins-act "Republicans (74 percent), Democrats (68 percent), and Independents (65 percent) see common ground when it comes to replacing the dollar bill with the dollar coin when informed of the savings from making the switch." With the current Trump Administration, this proposed Bill should gain easy support. This “will save American taxpayers up to $16 billion without one budget cut or raised tax." I would like to support you in any way I can! I do hope that you will support this Bill currently in Congress. Here is a link to a video news article done on me, my family history and the bulk vending industry done by the Long Island Business News... https://www.youtube.com/watch?v=WwHMAjSRApY I am looking forward to reading your thoughts! Sincerely, Frank Parisi Link to comment Share on other sites More sharing options...
Bryan La Rue Posted June 28, 2017 Share Posted June 28, 2017 This is absolutely amazing! The fact that you knew Roger is cool!! Would love to chitchat with you sometime!Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Bryan La Rue Posted June 28, 2017 Share Posted June 28, 2017 Also I feel the switch would increase the life of this industry tremendouslySent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Grantamato Posted June 28, 2017 Share Posted June 28, 2017 How will this help bulk vendors? I can't tell, please let me know. Link to comment Share on other sites More sharing options...
Frank Posted June 28, 2017 Author Share Posted June 28, 2017 The industry started out co-mingling ball gum with charms. Then the Cavalier case came about and Eppy & Co. designed and manufactured the first capsule. Following Eppy, Victor Vending came out with a 1.3 inch acorn type capsule (today’s version is a 1.1 inch) which started to vend for a nickel, then a dime and in the early 1980’s for a quarter. The 2 inch capsule today started off in the late 1960’s/ early 1970’s for the twenty five cent vend. In the mid- 90’s the industry upgraded the pricing to 50 cents. It is very difficult for a child to carry around three or four quarters and on the other hand pricing in general is increasing. This is a very important issue for the future of bulk vending for us to remain healthy and alive. Link to comment Share on other sites More sharing options...
Grantamato Posted June 28, 2017 Share Posted June 28, 2017 4 minutes ago, Frank said: The industry started out co-mingling ball gum with charms. Then the Cavalier case came about and Eppy & Co. designed and manufactured the first capsule. Following Eppy, Victor Vending came out with a 1.3 inch acorn type capsule (today’s version is a 1.1 inch) which started to vend for a nickel, then a dime and in the early 1980’s for a quarter. The 2 inch capsule today started off in the late 1960’s/ early 1970’s for the twenty five cent vend. In the mid- 90’s the industry upgraded the pricing to 50 cents. It is very difficult for a child to carry around three or four quarters and on the other hand pricing in general is increasing. This is a very important issue for the future of bulk vending for us to remain healthy and alive. I don't see it as that big of an issue. By all means, I could be wrong. Kids at my locations either have their mom or dad go to the machines with them or ask their parents for quarters. I see more issues with the dollar coin that it's worth, you would need new mechanisms or machines to take them Link to comment Share on other sites More sharing options...
Frank Posted June 28, 2017 Author Share Posted June 28, 2017 Gramvending, at 17 years old you have the world ahead of you! One day you will hope to have a warehouse, staff, route personal, possibly supervisors, a house for you and your family to live in, education expense, on and on. These will all add to the cost of doing business. So will the increase in wages not only here but abroad. As you implement each stage to go forward in your business, your profits will decrease and decrease along the way. What happens? Many will be forced out of business. Is it a bad thing to buy a new mechanism? Not really, because if operators purchased new equipment the major manufacturers would be in business today. Is it bad to pay more for a one or two inch capsule? Not really, that means your location just might get a higher commission or your supplier will have more money to invest in new items. When you were born a stamp cost 34 cents where as today it is 49 cents. By investing more in your business you will gain more of the profits! Best of luck to you! Link to comment Share on other sites More sharing options...
musser Posted June 28, 2017 Share Posted June 28, 2017 The dollar coin revitalized bulk in Canada. Instead of being stuck with mechs that take quarters you would have mechs that take dollars. I can't see how that is hard to figure out. A dollar Mech on a NW S80 would now be able to take FOUR dollars. Much easier to merchandise with something people, even adults, want to buy. It would be a life saver to bulk vending. Link to comment Share on other sites More sharing options...
musser Posted June 28, 2017 Share Posted June 28, 2017 BTW, thanks for the heads up Frank. Link to comment Share on other sites More sharing options...
petersvending Posted June 28, 2017 Share Posted June 28, 2017 I would just want to make sure that these manufacturers make mechs for us that deal in used/like new machines that still have quarter mechs! Please help us get this bill passed and get a kick in the rear to the manu's so we can get these dollar coin mechs! Please! Link to comment Share on other sites More sharing options...
titandist Posted June 28, 2017 Share Posted June 28, 2017 Frank is 100% right. New mechanisms is a good investment for your business. When I first started in this business I sold ball gum and charms together for a penny, you can see how much the bulk vending business has changed since then. These coin mechanisms are only going to be made for professional bulk vending machines (beaver Oak, Northwestern), so next time you buy machines make sure you look to the future in vending, not what you can find that is the cheapest in price Link to comment Share on other sites More sharing options...
Smiley Posted June 29, 2017 Share Posted June 29, 2017 Anyone selling 2 inch toys should be behind this effort. We could easily be getting $1 for our product and it's the fact that very few people are carrying 3 or 4 quarters in their pocket that is holding us back. Compared to items that have been historically priced similarly , we are lagging behind. Candy bars cost more than a dollar. A pack of gum costs more than a dollar. There are products out there that have the perceived value to sell at $1 and if the law passed more great $1 products would follow. i will be emailing my Representatives and I suggest all of you follow suit. Link to comment Share on other sites More sharing options...
orsd Posted June 29, 2017 Share Posted June 29, 2017 6 hours ago, musser said: The dollar coin revitalized bulk in Canada. Instead of being stuck with mechs that take quarters you would have mechs that take dollars. I can't see how that is hard to figure out. A dollar Mech on a NW S80 would now be able to take FOUR dollars. Much easier to merchandise with something people, even adults, want to buy. It would be a life saver to bulk vending. Yep, and we all know that we need it now more than ever. The industry as we know it is dying, and will die unless we get the dollar coin, simple as that. Link to comment Share on other sites More sharing options...
musser Posted June 29, 2017 Share Posted June 29, 2017 I have always thought high value coinage was way more important than just a bulk vending tool. I really think the elimination of at least the one dollar bill and even better the five would have a great economic benefit. Penny's nickels dime are basically tax tokens with little or no value in today's economy. I think our antiquated currency gives us a false security. What is a dollar? A dollar is worth no more than the dime of 1970 or nickel of 1960. What does that mean? For vendors and small retailers I think there is a psychological reluctance to drag out a bill for small transactions because the bill "feels" like money no matter the denomination. I could be full of it lol but I really think eliminating low value paper would energize a lot more than just the bulk vending business. And yes I do have business where I take lots of plastic transactions. And I stil see a place for coin with actual value. Link to comment Share on other sites More sharing options...
Frank Posted June 29, 2017 Author Share Posted June 29, 2017 Click on this link to find your US Senators email address and information... https://www.senate.gov/senators/contact/ Click on this link to find your US Congress Representatives email address and information... http://www.house.gov/representatives/ Link to comment Share on other sites More sharing options...
Frank Posted June 29, 2017 Author Share Posted June 29, 2017 http://www.dollarcoinalliance.org/facts-about-the-dollar-coin/ Table: Cost savings and benefits of the dollar coin by country G-8 Country Highest Widely Circulated Coin US Value Lowest Bill US Value Canada 2 Dollar $2.02 5 Dollar $5.05 France 2 Euro $2.63 5 Euro $6.57 Germany 2 Euro $2.63 5 Euro $6.57 Italy 2 Euro $2.63 5 Euro $6.57 Japan 500 Yen $6.18 1,000 Yen $12.37 Russia 10 Ruble $0.34 50 Ruble $1.70 United Kingdom 2 Pound $3.19 5 Pound $7.97 AVERAGE $2.87 $6.73 United States 25 Cents $0.25 1 Dollar $1.00 Link to comment Share on other sites More sharing options...
rodney69 Posted June 29, 2017 Share Posted June 29, 2017 7 hours ago, petersvending said: I would just want to make sure that these manufacturers make mechs for us that deal in used/like new machines that still have quarter mechs! Please help us get this bill passed and get a kick in the rear to the manu's so we can get these dollar coin mechs! Please! Beaver would only need to change the coin carrier, same with oak, and eagle. Link to comment Share on other sites More sharing options...
musser Posted June 29, 2017 Share Posted June 29, 2017 I would have to check but that may also be all you needed to do with the NW. Link to comment Share on other sites More sharing options...
petersvending Posted June 29, 2017 Share Posted June 29, 2017 12 hours ago, rodney69 said: Beaver would only need to change the coin carrier, same with oak, and eagle. What about machines no longer being made ie 1800, Vendstar and the like? Link to comment Share on other sites More sharing options...
rodney69 Posted June 29, 2017 Share Posted June 29, 2017 Not sure. I doubt it. That's why I buy only from the ones listed. Link to comment Share on other sites More sharing options...
Frank Posted June 29, 2017 Author Share Posted June 29, 2017 One thing that I can assure any operator is that if the dollar coin comes about, you will see a healthy supply of mechanisms and products. What we all should be concerned about is informing our local elected officials to get this bill passed. I would like to point out that many of the veteran operators that post on here are absolutely correct – own and operate professional equipment. I am sure many of us could point out bulk vending operators that have routes dating back 50 plus years but they operate real, professional equipment. Plastic, “blue sky” type of machines will only shorten your time as an operator. Always purchase the best machines, best gum, candy and toys and capsules. It will be worth it! Please, the most important thing you could do in your bulk vending career is push for the dollar coin! Link to comment Share on other sites More sharing options...
rodney69 Posted June 29, 2017 Share Posted June 29, 2017 Spoke to the governor's office this morning. Not sure if they'll listen, but hopefully! Link to comment Share on other sites More sharing options...
Frank Posted June 29, 2017 Author Share Posted June 29, 2017 Thank you Rodney69! Your Governor is involved with State politics and will not be of much help. We need to get to our Federal officials. We have 2 Senators in each state as well as a specific amount of Congress Reps. Your Senators are: Merkley, Jeff - (D - OR) Class II 313 Hart Senate Office Building Washington DC 20510 (202) 224-3753 Contact: www.merkley.senate.gov/contact/ Wyden, Ron - (D - OR) Class III 221 Dirksen Senate Office Building Washington DC 20510 (202) 224-5244 Contact: www.wyden.senate.gov/contact/ Here are Congress Reps in your area; you need to pick which one represents you: Oregon District Name Party Room Phone 1 Bonamici, Suzanne D 439 CHOB 202-225-0855 2 Walden, Greg R 2185 RHOB 202-225-6730 3 Blumenauer, Earl D 1111 LHOB 202-225-4811 4 DeFazio, Peter D 2134 RHOB 202-225-6416 5 Schrader, Kurt D 2431 RHOB 202-225-5711 Link to comment Share on other sites More sharing options...
havending Posted June 30, 2017 Share Posted June 30, 2017 On 6/29/2017 at 10:39 AM, petersvending said: What about machines no longer being made ie 1800, Vendstar and the like? Buy real machines. Your investment will be returned many times over. Link to comment Share on other sites More sharing options...
PerformaVending Posted July 3, 2017 Share Posted July 3, 2017 The simple fact that a dollar coin will outlast a paper dollar by several decades should be sufficient economic reason to move towards dollar coins. Link to comment Share on other sites More sharing options...
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