New One Dollar Coin

[ashleen]

Just heard the gvt will be releasing a new one dollar coin in 2007.
One for every president from Washington - Reagan.
Cool

 

Amazon Forum Fav 👍

Upgraded Night Vision Monocular Digital Infrared Monocular Telescope for 100% Darkness with 8X Zoom - Grab it through Amazon!

[SHERMANVILLE ILLINOIS]

Sounds like the mint is trying to make some money sellling coins in mint condition.

Who would want to actually use a $1 coin. Nothing like carrying around a pocketfull of $1 coins.

Something for someone to collect.

have a good un...............

 

[JakePhelps]

They are going to be released for circulation right?

 

[jeff of pa]

I agree,

?IF they put them into Circulation, they will sit in banks waiting for
people to stop in for each new image, as their released.

? They need to get ?away from these old Tired Portraits.

?

 

[JakePhelps]

They need to work on circulating their coins better! I never get halfs or dollars in change any more... They need to mint like triple what they do...because people save them thinking they will be worth money, but really they wont because theyve circulated

 

[Vrent]

what I have heard is they are going to sell them alnog with a gold coin commerating 1st ladies in hopes of rasing a ton of money in other words over priced government issued collectables

 

[gregl01]

What i don't understand is why they're still making dollar bills They were supposed to be replaced by the Sac dollars. If the gov't is still going to issue both, we the people will use what is comfortable to us. If they would stop issuing and making dollar bills then we would have no choice! We would also save lots of money in replacement costs of bills since coins last forever.
I'm done rantin'
HH Greg

 

[civilman1]

mint trying to make a mint,go figure!

 

[HobBob]

Personally, I think it would be a good idea to do away with $1 bills and replace them with $1 coins. Then, mass produce the $2 bill and flood the marketplace with them! (Just my 2 cents)
HH,
Bob

 

[EDDE]

good point bob what can you buy for a buck or a penny anymore maybe a 2 cent peice?LOL

 

[stoney56]

You know, it seems that the people don't want the $1 coins or they would circulate better. The only ones that want them are those that acquire them as investments hoping they'll go up in value down the road. You'd think the Mint would learn from the auto manufacturers about the Edsel.
As for stopping the minting of certain coins, the lowly zinc cent or penny as some prefer to call it--if they stop minting it, maybe eventually the ones in the ground will dissolve and we can start finding more valuable (face wise) coinage. LOL

 

[Waco Kid]

They need to get away from these old Tired Portraits.

That's for sure. A lot of you will probably disagree with this, but I for one would love it if they would revert to some of the classic coin designs from the past. For instance, get rid of the Jefferson nickel and go back to the Buffalo; dump the Roosevelt dime and go back to the Mercury; and trade Lincoln in for the Indian or Flying Eagle cent design.

You know, it seems that the people don't want the $1 coins or they would circulate better.

I'd love to use dollar coins if we had one that was distinctive. Surely they could produce a new, full-size clad Morgan dollar. Or do something like the British pound coin, which is not as wide as a Sacagawea dollar, but is thicker and heavier (9.5 grams vs. 8.1) and is made of a different alloy that just looks nicer.

 

[Waco Kid]

I forgot to attach a picture showing the thickness of the Pound coin, so here it is below. When you spend one of these coins, you feel like you're spending something substantial. Not as heavy as gold, of course, but they have a nice feel.

 

[Born2Dtect]

Have you ever been frustrated buy a dollar bill that was wrinkled and would not go into a machine. With the price of everything going up, the dollar coin may have a place in new vending machines.

I remember in 1980 they flooded the US bases in Germany with the Susan B. I used to get more back in change than what I gave to pay. The poor register ladies could not tell the difference between them and quarters. I wish I had a dollar for every time I corrected them.

I will collect them when they come out.

Ed Donovan

 

[HobBob]

Canada has both $1 and $2 coins... which leads me to believe that their lowest denomination paper money is probably a $5 bill. I learned this last summer when we spent the day on the Canadian side of the Bluewater Bridge in Sarnia, Ontario, at the bottom of Lake Huron. I stopped at the border to change some American paper currency into Canadian money... they gave me the whole match in coinage. I still have one of the $2 coins... its actually quite attractive. It has a golden-colored core surrounded by a silver-colored collar. No mistaking THAT for anything else! (US Mint.... hint, hint).
And of course, the other upside to this is that there will be bigger-denominated coins on and in the ground for us MD types to find. I believe it's called a "two-nie" (as opposed to a "loonie", which is what the $1 coin is called because it has an image of a loon on it).
Any of our northern neighbors like to jump in at this point?
Just my 2 cents,
Bob

 

[Klaatu]

Canada had the foresight to discontinue their $1 bill when they introduced the $1 coin (Loonie). That pretty much forced the Canucks to used the $1 coin. We had two opportunities to do that here in the US and we failed both times. Americans are very reluctant to give up something they have used their entire life ($1 bill) for something new and unfamiliar ($1 coin).

The fact is it costs the Bureau of Engraving about 4? to produce a $1 bill that has a useful lifespan of 18 months while it costs the Mint 8? to produce a dollar coin that should circulate for at least 30 years. The BOE produces around 4 Billion $1 bills each year at a cost of about $160,000,000. The dollar coin automatically cuts the cost of production by 90% (one coin vs 20 paper notes over 30 years). At a one-time cost of about $320,000,000 the Mint could produce 4 Billion dollar coins that would last 30 years and save the BOE $4.8 Trillion over the 30 years (actually a lot more with an increase in demand over time). That would free up the BOE to concentrate on producing the higher denominations of notes and improve their anti-counterfeiting measures (over 45% of the notes produced by the BOE are $1 bills).

The public would also see a significant cost savings over time. Paper notes must be separated by denomination, properly oriented and counted whereas the dollar coins can be simply weighed.

Personally I prefer to carry a $1 coin that weighs 8.1 grams rather than four 25? coins that together weigh 22.7 grams (2.8 times the weight of the $1 coin).

 

[Born2Dtect]

When the Canadian $1 (Loonie mentioned before) and $2 (Toonie) first came out they had a little problem of keeping the center inside of the outer ring. Being two different metal compounds they would expand an contract at different rates. My Newfie sister told me that when they first came out they used to put them in the freezer to pop out the centers for fun. What do you expect from a Goofy Newfie!

Ed Donovan

 

[Diamond Spike]

Shoot, the mint needs to put out $1 $5 and $10 Coins!!!
Because people like to lose coins as that's why we Metal detect.

U.S. Mint Bring them on

Diamond Spike

 

[Immy]

Someone on a coin collecting website had a great idea recently - when the state quarter program ends just continue it with the presidents! It would be almost the same release pattern, five per year, and it's on a denom that's the workhorse of American coinage. It's a fantastic suggestion that'll never be implemented since the legislation for the dollar coins would be practically impossible to overturn.

It's a continuing example of how the Mint is gravitating more to creating collectibles rather than supplying practical coinage for the masses.

 

[jeff of pa]

http://money.cnn.com/2005/04/27/pf/new_dollar/index.htm?cnn=yes

Currency flops through the ages.

http://money.cnn.com/2003/05/13/pf/banking/currency_miscues/index.htm