U.S. Mint launches first presidential $1 coin - Poll Do we need another coin? - PBX Info :: Your Free PBX, PABX and Telephone Information Resource

**rixride** · 02-15-2007, 11:12 AM

Do we really need another coin???

WASHINGTON (Reuters) - The U.S. Mint said it launched a $1 coin on Thursday featuring George Washington, the first in a series honoring former U.S. presidents aimed at collectors and intended for use in vending machines and parking meters.
Modeled on the mint's popular 50 State Quarters Program, coins depicting each president will be released in the order in which they served, with John Adams, Thomas Jefferson and James Madison scheduled to appear later in 2007. The rest will be released through 2016, ending with Gerald R. Ford.
"Americans will soon be receiving Presidential $1 coins in their change and will find them convenient to use at retailers, car washes and vending machines. I even suspect the tooth fairy will love leaving these beautiful coins under pillows," Mint Director Edmund C. Moy said in a statement.
The coins, which are the same size, color and shape as the gold-hued Sacagawea dollars, are also aimed at collectors and are intended to spur interest in U.S. history, he added.

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They are inscribed on the edge with the inscriptions "E Pluribus Unum", "In God We Trust," and the date and mint mark, making them unique among circulating coins.
The faces will show original images of former presidents and the years of their terms of office while the reverse will depict an image of the Statue of Liberty and the inscriptions "United States of America" and "$1".
One coin will be issued for each president, except for Grover Cleveland, the only one to serve non-consecutive terms, who will be honored on two coins, the mint said. No living former or current president can be honored on a coin.
The Sacagawea dollar, introduced in 2000, honors a Shoshone Indian woman who served as a guide to the Lewis and Clark expedition west in the early 19th century.
Its failure to find acceptance with the U.S. public, even with more than 1 billion in circulation, contrasts with other nations such as Canada, Britain, Australia and Japan, where coins of similar value are popular. This is generally blamed on the government's failure to withdraw dollar bills from circulation.

***gei_spot*** · 02-15-2007, 11:17 AM

Hey, I can't vote "Fork No!"

***JulianW*** · 02-15-2007, 11:30 AM

I would have gone with fork but we got the £1 coin here in 1983 (and more recently the £2 coin 1997) and although your pockets get heavier in single coinage there's little difference in the weight you carry about as anyone using coffee machines, parking meters etc that require correct change will find that the number of smaller coins they carry will be less which is a great advantage when you look at the prices for parking. Also the coins last a lot longer in the 'system' than any note ever would therefore the costs to the state of producing notes or coins is less.

***MSYoung*** · 02-15-2007, 11:59 AM

The problem the mint has to deal with is the size of the coin. All the recent dollar coins have been the size of a quarter and this makes them unpopular, except for collectors.

I know if you are careful there is a difference but if you are in a hurry, it is easy to make a mistake. Last month I was in a store waiting for change and the clerk scooped a couple coins out of the quarter tray and handed them to me. One of those coins was a dollar and he never noticed because it was in the quarter tray.

And before anybody asks, I did trade it back to him for a quarter.

***JulianW*** · 02-15-2007, 12:08 PM

The sizing issue is just a matter for the mint to decide before they start manufacturing them, the size can't be too small or people complaing it's like toy money but make them too big and they're to bulky to handle.

monkeylizard · 02-15-2007, 02:34 PM

I like them and plan on using this new one a lot.
I missed the 1Mark and 2Mark coins used in Germany. I was glad to see the golden dollar, but nobody else ever used it.

The 5Mark coin was too big, and I can see why the EU doesn't have a 5Euro coin.

I like the 1 coin and wish they'd make a 2 as well. Then again, I like using $2 bills. Always trips people out and there's no good place to put it in the register. I like the reaction.

***MSYoung*** · 02-15-2007, 02:50 PM

Quote:

Originally Posted by monkeylizard

Always trips people out and there's no good place to put it in the register. I like the reaction.

Half dollars do that too.

***papa-bear*** · 02-15-2007, 06:57 PM

I voted yes for ya'll down there. Have to catch up with the times.

Some rumour has it they want to put out a $5 coin up here so there will only be $10, $20, $50, $100 and what ever other bills they have higher than that up here.

I'll need better pockets soon.

slagburn · 02-15-2007, 10:43 PM

So are they going to update all of the vending machines, parking meters and all of the other stuff out there to accept a $1 coin?

***gei_spot*** · 02-16-2007, 01:37 AM

I like the "PAPER" doller

Don't change... I'm an ol' dog that don't like new trix

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