The Dollar Coin Versus The Dollar Bill Debate Continues
The Dollar Coin Versus The Dollar Bill Debate Continues
US Mint Dollar Coin Launch
US Mint Dollar Coin Launch
Click to viewOne Dollar Coin Commercial (2008)
Golden Dollar Coin Ad
I remember when these commercials aired on television. They were certainly amusing to watch. However, they didn't convince me to run out and change my dollar bills into dollar coins. While I sometimes found a bank teller trying to give me a Susan B. Anthony dollar in my change during the early eighties, I have never been given a Sacagawea dollar in my change.
That speaks volumes to me. It is more than apparent to me that the public doesn't want a dollar coin and definitely isn't ready to get rid of the dollar bill. The debate on this issue rages on as the media questions the excessive number of dollar coins sitting in the vaults of the Federal Reserve. Recently, I read an article written by Dave Harper editor of “Numismatic News” that posed the question that perhaps attitudes were changing toward the golden dollar coins Dave made a good point when he wrote "The government’s decision to scale back production of Presidential dollar coins to levels that will only fulfill collector demand seems to have ignited a re-evaluation in the minds of the public about the dollar coin."
I recently blogged about the Presidential dollar series here. I believe that novice and professionals in the numismatic industry are collecting the Presidential Dollar Coins. But when it comes to tossing the dollar bill and replacing it with the Sacagawea dollar, Native American dollar or Presidential dollar, I'm fairly certain they feel much like Moe does ::cue video::
Moe's take on Sacagawea dollar coins
A clip from the Simpsons where Moe threatens someone who evidently gave him a Sacagawea dollar coin.
Useless Dollar Coins!
Federal government mints coins that nobody uses for $600,000 a day!
Source ABC News
Dollar coins have found little popular acceptance in circulation in the United States since the early 20th century, despite several attempts since 1971 to increase usage of dollar coins. This contrasts with currencies of most other developed countries, where denominations of similar value exist only in coin. These coins have largely succeeded because of a removal (or lack) of their corresponding paper issues, whereas the United States government has taken no action to remove the one-dollar bill, due to intensive lobbying.
The United States Government Accountability Office (GAO) has stated that discontinuing the dollar bill in favor of the dollar coin would save the U.S. government approximately $5.5 billion over thirty years primarily through seigniorage
Source Wikipedia
Related Articles
Kill the dollar bill, for $1 coins instead?
The main challenge is the switch remains controversial among the public, the vending machine industry and even the Federal Reserve. As of May, the Fed had amassed $1.4 billion in $1 coins in its vaults because demand for the coins remains weak. The Treasury Department suspended the production of the coins, for the most part, last December. The U.S. Mint now only produces a few new presidential designs -- like those featuring Chester Arthur and Grover Cleveland -- to satisfy the demands of collectors.
Continue Reading & watch video Here Source CNN Money
CNBC Aired on November 29, 2012 Dollar Bills vs. Dollar Coins A fiscal cliff deal could kick dollar bills to the curb and, in turn, save an estimated $4.5 billion. Former Arizona Congressman Jim Kolbe (R), and Claes Bell, Bankrate.com senior banking analyst, look at the value of dollar coins vs. dollar bills.
Dollar bills or dollar coins? Over at Wonkblog, Brad Plumer discusses the reasons why the federal government should or should not try to shrink the deficit by replacing all the dollar bills in circulation with new dollar coins. Source Washington Post
Cointerpoint
Kill the Dollar Bill!
Kill the Dollar Bill!
In which John discusses the denomination effect and argues that we should stop printing one-dollar bills and transition to one-dollar (and two-dollar) coins, which according to the nonpartisan GAO will save the United States government 5.5 billion dollars over the next 30 years. (Also, John discusses loving the mountain goats and hating pennies.)
Dollar Store Owner Never Gives Out Change?
Dollar Store Owner Never Gives Out Change?
This is a news story about Dollar Coins. Apparently the dollar store owner never gives out change to his customers. Who goes to a dollar store with 2,500 coins?!
In Related News
The Presidents: A Documentary of past President's George Washington to George W. Bush This documentary provides a historical look at our past presidents. We've added photographs & information from the U.S. Mint of the dollar coin series honoring our past president's.
The Dollar Bill Versus The Dollar Coin
Senators: Get Rid of Dollar Bills
The Buck Stops Here The Buck Stops Here: When is the last time you used a dollar coin? If you’re like most Americans, it’s been a while. Back in 2005, Congress enacted the Presidential $1 Coin Act, which mandated that the US Mint issue new Presidential $1 Coins with the likeness of every deceased President. The only problem: nobody wants to use them.
The Ascent of Money: A Financial History of The World
An Overview of the Morgan Dollar
The Morgan dollar was a United States dollar coin minted intermittently from 1878 to 1921. It was the first standard silver dollar minted since production of the previous design, the Seated Liberty dollar, ceased due to the passage of the Fourth Coinage Act, an act which also ended the free coining of silver. The coin is named for its designer, United States Mint Assistant Engraver George T. Morgan.
Augustus Saint-Gaudens: The Man, The Artist, The Sculptor
Augustus Saint-Gaudens was the first sculptor to design an American coin. The $20 gold piece he designed in 1907 at the request of Theodore Roosevelt, is considered this country's most beautiful coin and is called a "Saint-Gaudens" by coin collectors.
World Coins & Foreign Mints
Mints Around The World A Link Listing For Mints From Around The World
Anne Geddes & New Zealand Mint Limited launch newborn baby gift coins
Bank of Israel (Israel Mint) Releases Tel Megiddo Coins
The Perth Mint, Learn More About The Year Of The Snake And What Will Be Released In November
Perth Mint
Royal Canadian Mint
Royal Mint United Kingdom
United States Mint
Ancient Coins
Europeon Coins
Foreign Currency
What Are Your Thoughts On The Dollar Coins?
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