US Mint introducing new $1 coins

**NotSoSilentBob** · February 12th, 2007, 11:13 PM

The Presidential $1 Coin Program

The United States is honoring our Nation's presidents by issuing $1 circulating coins featuring their images in the order that they served, beginning with Presidents Washington, Adams, Jefferson and Madison in 2007. The United States Mint will mint and issue four Presidential $1 Coins per year, and each will have a reverse design featuring a striking rendition of the Statue of Liberty. These coins will feature larger, more dramatic artwork, as well as edge-incused inscriptions of the year of minting or issuance, "E Pluribus Unum," "In God We Trust" and the mint mark. Although the size, weight and metal composition of the new Presidential $1 Coin will be identical to that of the Sacagawea Golden Dollar, there are several unique features that make this coin distinctive.

http://www.usmint.gov/mint_programs/....cfm?flash=yes

**starbuck** · February 12th, 2007, 11:18 PM

$1 coins is about as much of a waste as pennies. The pennies need to go away. [img]/LDPforum/ubbthreads/images/graemlins/grin.gif[/img]

**imported_Counts** · February 13th, 2007, 09:54 AM

Actualy it would save more money to get rid of the paper dollor and make the Coin dollor standard

**mm38nut** · February 13th, 2007, 10:03 AM

The edge lettering looks cool...

**starbuck** · February 13th, 2007, 10:52 AM

[ QUOTE ]
Actualy it would save more money to get rid of the paper dollor and make the Coin dollor standard

[/ QUOTE ]
But NO ONE wants to carry around $6.00 in coin form when you could put $6.00 bills in your wallet instead of your pocket. The $1 coin is not practicle for anything but collecting

**imported_Counts** · February 13th, 2007, 11:12 AM

Not going to disagree with that I prefer paper money myself as well however I have to say that the Coin is handier at the coke machine than all but a brand new bill.

I DO think that in our lifetime we will see the penny go away and the Coin Dollar replace the paper dollar

**starbuck** · February 13th, 2007, 11:15 AM

Ive seen a lot of machines that will not take $1 coin. I would say most don't

**Merlin** · February 16th, 2007, 01:13 PM

[ QUOTE ]
Actualy it would save more money to get rid of the paper dollor and make the Coin dollor standard

I DO think that in our lifetime we will see the penny go away and the Coin Dollar replace the paper dollar

[/ QUOTE ]

I have to agree with you on both points Counts. It would save the government (and thus the taxpayers) a tremendous amount annually to do away with $1 paper bills. They only last a year or so while coins last many years (both under normal use circumstances).

I once read that one of the main reasons you don't see more $1 coins in circulation now is because they have all been "snatched up" by metro transit systems & their users for use in the toll collection machines. They are perfect for their purposes and the transit authorities don't have to create their own tokens that would be incredibly expensive.

As far as the convenience factor goes, with prices the way they are now, $1 coins are about the same as a $0.25 (quarter) was many years back and the penny is just about useless. They should round everything to the nearest nickel and forget about it. I HATE PENNIES!!!! They fill your pockets up when you get change and even if you count them and roll them up you still don't have anything to show for it. Banks really don't even want you to bring them in -- rolled or not. But, enough of my ranting on that pet peeve.

While I was traveling through Canada several years ago, I noticed they were using both paper and coin "dollars" as a normal part of their everyday commerce. It was a bit of shock to me at first when I actually came to this realization since I just received change in a restaurant and was trying to double check the waiter. I thought he had shorted me, but then noticed that the coins I thought were "quarters" were actually "dollar" coins. I was a bit embarrassed at first, but that soon passed.

I really like using the dollar coins better than having to deal with the filthy, crumpled, barely legible ones that we usually get as change (especially at the gas stations). Those bills are worthless when trying to use them in modern vending machines -- so, I always try to pass them on to someone else ASAP.

If we rid ourselves of paper $1 bills and start using the coins instead, maybe the paper $2 bill will make a comeback . [img]/LDPforum/ubbthreads/images/graemlins/grin.gif[/img] All of this would simply be an attempt to "modernize" our currency not unlike the current trend of our treasury to "beautify" the other paper bills. I know its more for security and an attempt to deter counterfeiting, but they are much more colorful and "perty", aren't they?

Anyways, enough of my rant. Just thought I'd thow my $0.02 into the fracas. Thanks for readin'. [img]/LDPforum/ubbthreads/images/graemlins/cool.gif[/img]