US issues $1 presidential coins

[Dr Mordrid]

http://usmint.gov/mint_programs/$1coin/index.cfm



Gold color, edge writing & the Statue of Liberty on the reverse. Edge writing:

"E PLURIBUS UNUM"
"IN GOD WE TRUST"
year of minting
mint mark (P=Philidelphia, D=Denver)

Flash tri-view;

http://usmint.gov/mint_programs/$1coin/index.cfm?action=$1coinFlash

IMO these will be even more popular than the State quarters.

Speaking of the State quarters; if you have the new Ohio quarter KEEP IT.

They don't work in vending machines so they're being recalled. Given that 3/4 of them haven't made it out of the banks and that those being returned to banks will also be recalled they'll be a middling collectors item. Find one with a defect and it'll be more than that.

[Jessterw]

Oddly enough, we have two Ohio quarters. Guess we shall be keeping (would have kept one anyhow).

But yes, pretty cool on the $1 coins, if for no other reason than they're something new and different.

[Dr Mordrid]

Heard that quarter report on the news saying their thickness was a problem. Almost didn't post because of the old joke about them being held together by duct tape.

[Brian Ellis]

Actually, I'm surprised the US hasn't introduced dollar coins for ordinary use. The dollar bill must be amongst the lowest valued paper money in the developed world. Most countries find that coins are cheaper because of their longevity, up to values in the $2-10 range.

Obviously, this has nothing to do with special collectors' sets.

[Jessterw]

Dollar bills are like pennies here - they breed. The closest comparison I can make to another currency are 1 yen coins in Japan. Combine that with the habit here of making coins of higher value larger (save for the Dime), having a bunch of $1 coins in your pocket would be annoying.

Then there's the whole symbolism of the "Dollar Bill".

Honestly, I'll be quite happy when we reach the point of not having to think about coins or paper money. Ever.

[Sasq]

Dollar bills are like pennies here - they breed. The closest comparison I can make to another currency are 1 yen coins in Japan. Combine that with the habit here of making coins of higher value larger (save for the Dime), having a bunch of $1 coins in your pocket would be annoying.

Then there's the whole symbolism of the "Dollar Bill".

Honestly, I'll be quite happy when we reach the point of not having to think about coins or paper money. Ever.

they actually said that about the $1 in oz.

It actually ended up being about the size of a quarter, which is smaller then our 50c coin.

the $2 is even smaller but thicker.

both coins are gold coloured as opposed to the silver. to help distinguish them.

[KvHagedorn]

I'll tell you why dollar coins are not popular here. They are the size of quarters and minted for purposes of political correctness.

http://en.wikipedia.org/wiki/Susan_B._Anthony_dollar

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

Now THIS is the dollar coin that should have continued:

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

Its size is substantial, and so is the person it depicts. People want real presidents on their coins, and for bigger monetary denominations to be bigger in size.

[Sasq]

I'll tell you why dollar coins are not popular here. They are the size of quarters and minted for purposes of political correctness.

http://en.wikipedia.org/wiki/Susan_B._Anthony_dollar

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

Now THIS is the dollar coin that should have continued:

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

Its size is substantial, and so is the person it depicts. People want real presidents on their coins, and for bigger monetary denominations to be bigger in size.

well lets see, the AU $2 coin has an aboriginal on one side, and the queen on the other.

the old $20 note had Charles Kingsford Smith.
the $50 had the guy who discovered penicilin
the $100 has the gentleman who was the first Australian to the south pole.

we celebrate people who have contributed to Australian society on our currency, we don't restrict it to just dead presidents, we realize that more people then just politicians shape the country.

Japanese bank notes are the same.

[Jessterw]

Sorry, don't know anyone who wants to carrying anything larger than a quarter in their pockets. So unless we're talking about coins for purely display/collectible purposes, I'd say the true reason $1 coins of any variant have yet to catch on is quite simple - we're a people of habit and familiarity.

In the vein of what Dan was saying, I'd bet we Americans would be just as happy to have more than just presidents on our money. To that end, I'd say Martin Luther King, Jr. deserves a spot, and that has nothing to do with being PC, which I will admit isn't what should determine the face on the coin.

[Dr Mordrid]

Actually, I'm surprised the US hasn't introduced dollar coins for ordinary use

Where have you been? The US has been making dollar coins for since 1794

First it was the venerated "silver dollar" of numerous types (President Eisenhower below) then later the Susan B. Anthony (late 19th century feminist) and Sacagawea (Lewis & Clark's female Shoshone guide) dollar coins.



As others have noted very few people want a coin bigger than a quarter and the dollar coins are either very much larger (silver dollar) or so close in size to a quarter you can't tell the difference by touch (Susan B. and Sacagawea). These new ones will be the same size as the latter two, therefore relegating them to collections.

[KvHagedorn]

The classic Silver Dollar was the dollar coin which gained the most acceptance. These were exactly the size of the Eisenhower Dollar. Substantial size was not a liability for these pieces.

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

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

[Dr Mordrid]

Yeah, because there was no doubt whatsoever what you had your hand on

[KvHagedorn]

My favorite collectible coins are the Saint Gaudens $20 gold pieces, or Double Eagles.

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

I really think much of the desirability of past coins was the knowledge that they were real silver or gold.

[Brian Ellis]

Actually, I'm surprised the US hasn't introduced dollar coins for ordinary use.

In all my trips to the US, I've never had a dollar coin in my pocket. In fact, I've seen them only in museums.

Many countries have made large denomination coins no larger than existing ones, but easily felt and seen to be different by different edge milling, thickness, dual metals etc. In fact, gold coins that were current in the past (doubloon, thaler, franc, sovereign etc.) were usually smaller than much of the base metal coinage. Size is not really material except for intrinsic value of precious metals, as shown in the US as the coins from the penny to the quarter don't proceed in a dimensional progression, do they?

And many countries have forsaken their beloved equivalent of the "dollar bill", such as the "pound note", long thought sacrosanct in England (Scotland still has them, but they are going out of favour because they are printed and issued by several commercial banks which realise they are a costly anarchism). http://en.wikipedia.org/wiki/Image:B...oney_coins.jpg

[KvHagedorn]

Well, all the dollar coins we have mentioned were intended for ordinary use, but it was simply a matter of becoming acceptable to most people, and dollar coins have not been widely accepted by ordinary people for use after the Peace Dollar of the 20s and 30s. I seem to remember some small effort that was made to get the Anthony dollar popularized, but the effort was obviously underfunded.

A lot of the problem is that there is no special compartment in common change drawers for them.. same as for $2 bills (which also remain legal tender.)

Maybe I'll ask the bank for a bunch of $2 bills and dollar coins just to be a nuisance.