Goodbye Presidential dollars...

[Zephr]

http://www.numismaster.com/ta/inside_numis.jsp?page=BlogEntry&BlogEntryId=18382


Darn it... this was my first collection that was not pulled from circulation Why, treasury, why?

It wouldn't have bothered me if they had stopped production of something like ATB quarters or 5 oz rounds...

 

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[HoosierDaddy]

Interesting, and not entirely unexpected. Thanks for posting!!

 

[Generic_Lad]

Good riddance . Ugly and worthless. Can't say that I'm sad to see them go. Perhaps the mint will actually mint something of artistic merit that isn't made out of crap metal and of a decent size in its place....

 

[Zephr]

I guess everyone has their own opinion...

I actually enjoyed the series and would have much rather seen them make progress towards their goal of getting rid of the $1 bill rather than taking another step backwards.

 

[Diver_Down]

I guess everyone has their own opinion...

I actually enjoyed the series and would have much rather seen them make progress towards their goal of getting rid of the $1 bill rather than taking another step backwards.

 

[Diver_Down]

Collector Presidential dollar coins will continue to be produced to complete the series at prices that make sure there is no cost to taxpayers going forward.

 

[Zephr]

Collector Presidential dollar coins will continue to be produced to complete the series at prices that make sure there is no cost to taxpayers going forward.

I liked buying the uncirculated rolls of them from the bank, but now I'll have to buy them directly from the mint and spend a $15 premium per roll + shipping.

4 presidents a year x 2 rolls per president x $15 per roll = an extra $120 I have to spend + shipping

It might not seem like much to some people, but as a teenager without a job it will add up quickly.

 

[Generic_Lad]

-shrug-

To be honest, I wouldn't mind a dollar coin as long as it looks nice and has decent technical specifications.

The alloy used for the "golden dollars" turns black within a few months of circulation. It is the exact same problem that turns war nickels into that ugly greenish-black color. Its a bad alloy. Secondly, edge lettering, its a great idea, but its poorly executed on the presidential dollars. Even on the best of days it is hard to see. The coin simply does not lend itself to decent edge lettering. Edge lettering is great on coins such as the 1 and 2 pound coins (because the coins are thicker) and even on the early milled British coins (where the lettering is raised) but on the US dollar coins? Not so much. Plus the coins are too cheap, I'd prefer a coin with face value close to intrinsic value.

I also don't really believe in putting real people (especially presidents!) on our coinage, because it leads to dangerous hero worship of them. Sure, some presidents were good (I'd have to say the majority were pretty bad though!) but we shouldn't want to emulate a "great" president, instead our goal should be Liberty. We should not be reigned over by the ghosts of Washington and Lincoln but instead by ruled by Liberty.

The coins themselves aren't exactly artistic high points. I mean, even real people can be made to look decent when they are living, consider the Victorian Gothic crown and Florins for example, absolutely stunning portraits despite the fact that when you look at photographs or realistic paintings of Queen Victoria, she wasn't exactly the most attractive. But really, compare a presidential dollar to earlier US coins and they really fall short. I mean, a Walking Liberty, St. Gaudens or a Standing Liberty quarter is so much more artistically accomplished than a bland portrait of Hayes and an equally bland picture of the Statue of Liberty. Combine the boring design with a non-existant relief on cheap metal and you have a forgettable coin that has so much more potential.

I mean, there is so much more potential. Consider what the SBA dollar almost looked like:

So much better than a scowling old woman in your pocket!

 

[Zephr]

I agree with some of the points you made, and do agree with the fact that these coins were not the perfect candidate to eliminate the $1 bill. I would have rather seen them take a step forward though, than a step backwards.

 

[Stang1968]

I guess everyone has their own opinion...

I actually enjoyed the series and would have much rather seen them make progress towards their goal of getting rid of the $1 bill rather than taking another step backwards.

The cut the dollar program as some sort of program to stop government waste; if they really wanted to stop waste, the'd stop production of the $1 bill as you mentioned; Only then will they stop paying storage fees on those 1.3 billion coins as they enter circulation to replace the missing greenback.
Does the 1.3 billion figure even include the SBA's they are still sitting on? And what about those Sacs, too?

 

[TheRockDoc]

Get rid of the tax-payers billion dollar burden known as the worthless useless presidential dollar coins, and as far as the dollar.... Apparently it would mean billions to the deficit if they were to eliminate that..... Well, here's a thought I came up with all by my little tiny one person self.... SEE CANADA! I know several "smart" countries have done it too, but Canada is the one I know for sure, so check out their solution to the extremely high cost of making and replacing paper $1 dollar bills.... I wonder why so many things that are so obvious takes so many "smart" decision makers so long to create solutions for...

 

[DigginThePast]

Good riddance . Ugly and worthless. Can't say that I'm sad to see them go. Perhaps the mint will actually mint something of artistic merit that isn't made out of crap metal and of a decent size in its place....

I concur with this and your follow up post.

 

[canaboy123]

Good riddance . Ugly and worthless. Can't say that I'm sad to see them go. Perhaps the mint will actually mint something of artistic merit that isn't made out of crap metal and of a decent size in its place....

Yes! i would pay money for them to bring back Ike sized dollar coins.

 

[airborne1092]

FWIW, I too would have liked to see a dollar coin. After living in Europe on and off for 12 or 20 years, I'm perfectly alright carrying around dollar coins. To me, it just makes sense.

Just my 2 cents...

 

[jeff of pa]

Good riddance . Ugly and worthless. Can't say that I'm sad to see them go. Perhaps the mint will actually mint something of artistic merit that isn't made out of crap metal and of a decent size in its place....

I Agree .
Finally they did something right.

Unfortuanately I can see some Future President with an Ego
start a Presidential coin series again,
so he can be on one.

Yes! i would pay money for them to bring back Ike sized dollar coins.

solid Copper with Standing or walking Liberty on them would
be good.

No real people alive or dead

 

[Zephyr]

So much better than a scowling old woman in your pocket!

That was a woman? I thought it was a "hobo dollar" (like the old "hobo" nickels.)

 

[jeff of pa]

So much better than a scowling old woman in your pocket!

Yea that was one Ugly Coin.

So Ugly I almost want to put an f in front of
the U when I Type this

 

[LM]

One of the inherent problems with Democracy is that sometimes (often times?), the majority is dumb. Americans have an irrational attachment to the $1 bill and have always opposed dollar coins in the clad era.

I think the scariest thing about it all is that the dollar is starting to be worth so little that it's inherent spending power may credibly be regaled to 'pocket change' status. That ice cream cone or bottle of pop that used to cost kids a nickel, then a quarter, now costs a buck.

The cent is essentially a nuisance.
A cashier that makes $9 an hour earns .15 cents a minute. If it takes her 4 seconds to fish around for two pennies in a change drawer, a full half of the value of those two cents were paid to the cashier simply to stand there and handle the damn coins.

 

[jeff of pa]

One of the inherent problems with Democracy is that sometimes (often times?), the majority is dumb. Americans have an irrational attachment to the $1 bill and have always opposed dollar coins in the clad era.

I think the scariest thing about it all is that the dollar is starting to be worth so little that it's inherent spending power may credibly be regaled to 'pocket change' status. That ice cream cone or bottle of pop that used to cost kids a nickel, then a quarter, now costs a buck.

The cent is essentially a nuisance.
A cashier that makes $9 an hour earns .15 cents a minute. If it takes her 4 seconds to fish around for two pennies in a change drawer, a full half of the value of those two cents were paid to the cashier simply to stand there and handle the damn coins.

Unless I read it wrong , you made my point for me.

First, Dollar bills fit in a Billfold right alongside
$5, $10, & $20 Bills & as long as they are in there
People will count out 7, 8 9 $1.00 bills
at some point to pay for something.

Designate the $1.00 to coin & it falls
the way of 1, 5, 10 & 25 Cents.
You'll get them in change, but you'll
throw them in the same place you throw your quarters
and other change.

People will save up more change over time
but pay checks won't seem to last as long.

& Because of Weight, people won't carry
25 $ worth of $1 coins anywere but the Bank
to exchange for bills, when they get desperate.

then all banks will charge to trade them for bills,
& want to introduce a law that the $5. bill be switched to a coin.

 

[LM]

Unless I read it wrong , you made my point for me.

First, Dollar bills fit in a Billfold right alongside
$5, $10, & $20 Bills & as long as they are in there
People will count out 7, 8 9 $1.00 bills
at some point to pay for something.

Designate the $1.00 to coin & it falls
the way of 1, 5, 10 & 25 Cents.
You'll get them in change, but you'll
throw them in the same place you throw your quarters
and other change.

People will save up more change over time
but pay checks won't seem to last as long.

& Because of Weight, people won't carry
25 $ worth of $1 coins anywere but the Bank
to exchange for bills, when they get desperate.

then all banks will charge to trade them for bills,
& want to introduce a law that the $5. bill be switched to a coin.

Aside from strippers, barmaids, flea market vendors and guidos carrying around a bankroll comprised of fifty singles wrapped in a $100 bill, I really don't know anyone who carries enough 1's for it to be a practical difference.

The issue is longevity. A bill lasts something like a year. Coins circulate for decades. It costs a lot to print (and eventually, destroy) all those bills. I don't think the behavioral aspects of people throwing dollar coins in change jars is enough to impact anything. The people who horde the dollar coins believing that they have some intrinsic value beyond their face value have way more of an impact (these are also the same people who believe that their complete set of limited edition Elvis Presley collector plates will pay for their kids Harvard education. They're due to be disappointed in more ways than one...)

The rest of the world gets along just fine with dollar coins. The reason we don't use them is the same reason we're basically the only country on earth that uses inches and feet.