Gresham's Law stipulates that "Bad Money Drives Out Good;" that most people will prefer to give away money they feel has less value even if both monies are legally the same. Gresham was talking about gold-backed money versus fiat money backed by nothing. People spend fiat money first because they don't trust it as much. Dollar coins and dollar bills are both fiat money but coins are less familiar so people prefer them less and so they tend to change hands first. People want to get rid of them. A local storekeep recently tried to give me $1.00 in change, held up a Sacajawea and asked "this is a dollar, will you accept it?" I said "No" and he gave me a dollar bill instead. That's Gresham's law at work.

So were do the strippers come in? As the Fark.com headline noted "Apparently these government dorks NEVER go to strip clubs". Too true*. Dollar bills are the lifeblood of US strip clubs (or so I am told). To "make it rain" is to throw a fist full of dollar bills on stage and let them flutter down (or so I am told). On the other hand a "steel rain" is to throw a fist full of quarters on stage which results in getting beat up by bouncers (or so I am told). [you get the idea, assume (or so I am told) from here on].

Every foreign currency I've ever touched only has a coin equivalent of the US paper dollar. Strip club finances are about the same however so they need a near substitute to the US dollar or a different system. I've heard of two dollar substitutes: one is paper tokens (literally called "dollars") that you buy at the bar, the other is 1/2 once shots of flavored water (kool-aid) that cost about a dollar. The only alternate system I've heard of is a free teaser dance with inflated lap dance fees. Presumably they kick you out if you don't indulge in the for-pay fare.

So there you go: despite the wishes of the US Mint and progressives to end the reign of dead white males on paper there are two strong forces opposing change - unfamiliarity and houses of modestly ill repute.

* There is zero chance you will believe me but I generally don't visit strip clubs foreign or domestic (bachelor parties are the exception). Most of my foreign travel is computer conferences so I do know at least a few dirty old men, and they gave me the skinny on the dollar dilemma.