New US dollar coin coming out, Lucky us.

[Sandman]

This summer we will be able to find the new US George Washington dollar coin at the beaches. As soon as the vending machines are in place we should find more.

 

[willie d]

Cool deal, can't wait.

 

[knapper]

it will never fly American's will not Cary them we like folding cash remember suzzzzi b anthony

 

[Jason in TN]

I heard there were plans to make one for every president starting with old George. Kind of like the Quarter thing. Any one else heard of this? What happend to that indian gal?

 

[SHERMANVILLE ILLINOIS]

Sand,

another one

Reading this article I was surprised at how
many dollar coins there have been.

1 Pre-Colonial dollar coins
2 Early dollar coins (1794–1803, 1804)
3 Seated Liberty dollar (1840–1873)
4 Gold dollar coins (1849–1889)
5 Trade Dollar (1873-1885)
6 Morgan dollar (1878–1904; 1921)
7 Peace dollar (1921–1928; 1934–1935)
8 Transition: Release of coins by the Treasury
9 Eisenhower dollar (1971–1978)
10 Anthony dollar (1979–1981; 1999)
11 Sacagawea dollar (2000–Present)
12 Presidential Dollar Coin Program (2007–)

http://en.wikipedia.org/wiki/United_States_dollar_coin

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

 

[Daisy]

Knapper, we (canadians) said the same thing when both the loonie and the toonie came out.
The change over was fairly easy and without incident. (But the bills were discontinued.)
If the US is trying to make the change, why are they still printing the bills?
Let me tell you, I can't wait until a can. 5$ coin comes out. Beats digging quarters anyday.

 

[Karma Guy]

This would be a really sweet deal if they get rid of the one dollar bills, still I'd like to get one just to hear it ping in my headphones and see what it reads on the screen.

A nice looking coin just the same.

KG

 

[Sandman]

I like those Loonie's and Toonie's. Beats scoopin' up all them pennies.

 

[dahut]

There has been talk of removing the dollar bill from circulation for some time - I predict it will happen. As for people not carrying the dollar coins, well, they do and they dont. I have found them, but they are frew and far between.

I say dump the dollar bill and the one cent coin altogether.

 

[Marty-Graw]

i found one a while back at a tot lot.....kinda surprised me

 

[jeff of pa]

When they start putting something other then Dead People
on the Fronts, I'll be Impressed.

 

[Foilman]

Last Year I found 2 of them 50 yards apart the same day never before or since. The retailers don't want it cause they need another change drawer slot. The reason they keep coming out with all these coins is it is free money for the government cause so many people hoard and collect them. For every quarter they mint that is hoarded they probably make 24.5 cents. It would beat the lincolns any day. I wonder what the cost is to make paper or coin? When I found a stainless coin from india last year I thought how cheap, but they probably will last a long long time. A lot longer than the cloth or the junk coins being made these days.

 

[dahut]

The reason they keep coming out with all these coins is it is free money for the government cause so many people hoard and collect them. For every quarter they mint that is hoarded they probably make 24.5 cents.

Uhhhh, call me stupid, but I dont get this one. Can you explain?
According to wikipedia, it COSTS the US Mint 4.29 cents to make a quarter. If people hoard them and dont use them, then the Mint has to make MORE - at more cost to them. Worst case scenario, they would just keep making them for none being in circulation.

 

[Lasivian]

I think there are 3 big mistakes with the new coins:


#1 They should have looked radically different or been 2 kinds of metal like this (I admit tho the gold dollars are better than the Susan B dollars):

#2 And they should have had a unique shape so that blind people could tell them apart from quarters instantly:

3# The paper dollar should be phased out and eventually made unavailable. Dollar bills are a complete waste of our taxes due to their short lifespan.


And of course I want to find more dollar coiuns in the sand!

 

[Marty-Graw]

#2 And they should have had a unique shape so that blind people could tell them apart from quarters instantly:

blind people WILL be able to tell the difference in these and quarters because quarters have reeded edges and these coins dont......that is the reason for the different edges...... like pennies and dimes are near the same size and one is reeded and the other is smooth...........it is paper money that i believe would give them trouble

 

[Lasivian]

#2 And they should have had a unique shape so that blind people could tell them apart from quarters instantly:

blind people WILL be able to tell the difference in these and quarters because quarters have reeded edges and these coins dont......that is the reason for the different edges...... like pennies and dimes are near the same size and one is reeded and the other is smooth...........it is paper money that i believe would give them trouble

I actually asked a friend who is blind about thiswhen the Sac. dollar came out and she said that "a way to tell what they are in the palm of my hand" is what she wanted. otherwise she has to touch the edge of the Sac. to tell it's not a quarter.

And yes, she's not fond of the minuscule differences in pennies and dimes either.

But of course, that's just her opinion.

 

[Treasure_Hunter]

"it will never fly American's will not Cary them we like folding cash remember suzzzzi b anthony"


Get rid of the dollar bill and the penny coins.

I love the new dollar coins, and I bet it does fly this time. The coins look a lot better then the Anthony coin, they will be releasing them with different presidents, they are easy to tell from quarters, and best of all,
1---------------2-------------------3---------------they will be on the beaches for me to pick up!!!!!!!!!!

 

[pepperpump]

The mint is doing what they did with the quarters. Each year they are releasing 3-4 new coins starting with washington. Adams is out as well. I saw the coin folders already at the hobby store. They said they are trying to do the quarter thing in hopes the coins will catch on and gain acceptance. Go figure
Pepperpump

 

[Foilman]

dahut,
You answered your own question. If you can sell something for .25 cents that cost .4 cents that is a 21 cent profit and a huge return on investment. It is the same reason the treasury got rid of gold and silver. As a government goes broke the coins and paper come closer to the manufacturing cost which is close to nothing. If you went to the mint to get the quarters you would find they are not distributed free of charge. Hope this helps. Maybe I am wrong.

 

[dahut]

If you can sell something for .25 cents that cost .4 cents that is a 21 cent profit and a huge return on investment.
Uh, okay. I feel stoopid.

I agree that if you sell something under those conditions, then you make plenty of profit. I sold a boat last year that I paid 200$ for. The buyer paid me 650$. Thats a profit on investment that I can relate to.

But coinage is hardly an investment, since the mint is not selling circulation coins at a profit against a measured amount of value. They produce and distribute them only, as a medium of exchange against a supposed store of value (collateral), right? But, they back them with false collateral, which is non-existent in reality, since we operate on a deficit - meaning there isn't enough valued commodity in holding to back the currency they issue (in our system this is supposed to be gold bullion hanging around somewhere). So you're already at a loss, right out of the gate. It's like the old joke where someone says, "But, I cant be out of money... I still have checks in my checkbook!"

That being the case, with nothing to back the specie, there can be no "investment." Secondly, everything to do with it is at a cost; it's made at a cost and distributed at a cost and so on. It's just like my boat, for which I paid "X" amount of money, which is my backing value, one part of my investment. I put rehab money/time into it as needed, which is called "Y", the second part of my investment - these are my costs of producing a sellable good. Then I sell it at a price that reflects "Z > (X + Y)," thus recouping my investment (X+Y) and retaining a profit, "Z - (X+Y)."

In other words, the Mint makes these fancy little metal discs at a cost to themselves on every level, and then give them away for people to remove from circulation, creating the need to make more of them at cost again, etc. That would be like me shelling out my investment for that boat, and then taking it down to the lake and giving it to some redneck, who climbs aboard, kicks me off and drives away in it.

Yet, under these same conditions, the Mint somehow makes a profit on their coin? No wonder we're going broke!

I think I am too thick in the head to get this. I knew I should have studied economics instead of electronics.