The New US Dollar Coin

[tamias6]

Its seems that every time the US mint tried to circulate a 1 dollar coin, it was a bust. The US Mint is trying it again, this time to honor the US presidents by minting a series of coins for Washington, Adams, Jefferson, and Madison in a similar manner as the state quarters.

Here's a link to the U.S. Mint's webpage about the new coins.

Presidential $ 1 coin

The question is will the new 1 dollar coins work this time or are they doomed to flop like the Susan B. Anthony?

[Rizzo]

This isn't spending money (so its inherently not going to work no matter what design they issue) so much as its a stocking stuffer. The dollar is better served in paper form anyway.

Its disappointing, but it's probable that coins may be phased out when the government realizes coinage is worth more dead than alive i.e. pennies. I used to melt pennies as a kid and hoarded the zinc for casting trinkets and such... Now zinc and copper are gang busters so the government recently wised up to the idiot opportunists and their smelting operations -- declared it illegal to melt pennies.

[AlexPKeaton]

I think they're banking too much on the collectibility of the new coins as the driver that gets them into wide use. People seemed to like the 50 state quarters, after all. But, without discontinuing the paper dollar I think this effort will fail. Maybe if every vending machine accepted them and cash registers had an extra change bin for them people might get used to using them. I'm afraid they'll just be another novelty though. I really would like to see them succeed. For small amounts coinage makes sense. It's more durable than paper money, and this may even help the mint with the case they just lost requiring them to differentiate bills in such a way that blind people can tell them apart. Perhaps that requirement will be what causes the dollar coin to succeed. Rather than redesign the dollar bill maybe congress will just do away with it.

[tamias6]

I think the only time coinage would be phased out is if the US became a completely cashless society. Otherwise how would one get exact change?

....Its disappointing, but it's probable that coins may be phased out when the government realizes coinage is worth more dead than alive i.e. pennies.....

[jbr12]

I think they need to do away with the dollar bill and the penny. Set up some kind of system where the extra .01 - .04 cents goes to a charity or something.

[monsoon]

Duplicate of this topic.