Tuesday, December 19, 2006

New dollar coin: stillborn

I had great hopes for the new dollar coin. The last two failed because they were neither larger and or much thicker than the quarter. Being that we all know that - do you think we would try again to get it right?
The presidential dollar coin will be similar in size and color to the Sacagawea, but will bear no inscription on the obverse or face side. "In God We Trust", "E Pluribus Unum", the issue year and the mint mark will appear on the edge.
It has to have George on front. This is good - but being that the Baby Boomer "everyone gets a trophy" people run everything, they are going to have ALL the dead Presidents on it.
The new dollars are set to feature the past Presidents of the United States in order from George Washington to Richard M. Nixon. Instead of a textured or ridged edge, the smooth rim will now hold such features as the mintmark, the date of striking, and the mottos "“In God We Trust"” and "E Pluribus Unum."” The design change is intended to allow space for larger portraits of the Presidents on the obverse side, and the Statue of Liberty on the reverse.

For the first time the coin will say "$1"” instead of "“One Dollar."”

The criteria for the presidents is that they must have been dead two years to be featured, so the current list will end at Richard M. Nixon. Grover Cleveland will actually be featured on two different coins because he held office in two non-consecutive terms.
Don't these people travel? Give a feel to the 1 or 2 Euro coin (i.e. thicker by look and feel than a quarter). The Norwegian 5-Kroner. Heck, the old 10 Franc. Something better and this could work.
"As long as we have the paper currency out there, dollar coins will never be successful," Gillis said. "We're going to have to discard the $1 bill or mass produce so many of these coins so they'll be out there at retailers."
Well, some places are getting rid of the $1 bill. I am not along, this guy is mad as well. What a lost opportunity. We can do better. Even the Turkish Lira coins make sense. But, I don't think these fools are focused on the real reason we have a currency.
The Mint is hoping the continually changing faces will entice consumers to break their traditional reluctance to use dollar coins.

"We think Americans are going to want to collect the series, and that will drive the coins through the economy," said U.S. Mint Director Edmund Moy.
Yes, that is what they think of the American public.

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