NEW DOLLAR COINS ROLL OUT TODAY

[mdunn]

New $1 George Washington coin just in time for his birthday

Published: Thursday, February 15, 2007 8:31 AM


WASHINGTON (AP) — George Washington's birthday celebration will have a golden tinge this year. Millions of new gold-colored dollar coins bearing the first president's likeness are being introduced in time for the festivities.

The question is whether people will reject them as they did the two previous $1 coins.

U.S. Mint officials are hoping they have overcome the problems that doomed the Susan B. Anthony and Sacagawea dollars. Coin experts are skeptical.


The new $1 coins, the first in a series featuring four presidents a year, were to go into circulation today, just before next week's President's Day celebrations.

Learning from past mistakes, the Mint is making sure the coins will be widely available so people will not be disappointed when they show up at banks looking for the coins.

So far the Federal Reserve, the Mint's distribution agent, has placed orders for 300 million of the Washington coins. Many have already been delivered to commercial banks under orders not to begin selling them to customers until Thursday.



''For the vast majority of Americans, they will be able to get the new dollar coin on the day that we issue it,'' Mint Director Edmund C. Moy said in an interview with The Associated Press.

The changing design with a new president every three months is an effort to match the phenomenal success of the 50-state quarter program that has attracted more than 125 million collectors.

While the government is making a more concerted effort to promote the dollar coin this time around. Coin experts, however, said they are not convinced that the results will be much different from the widely avoided Anthony and Sacagawea coins.



''I don't know of any country that has successfully introduced the equivalent of a dollar coin without getting rid of the corresponding paper unit,'' said Douglas Mudd, the author of ''All the Money in the World.''

[iplaw]

Thank God it wasn't Jackson, I think Huntzinger would have had a stroke.

[mdunn]

all the presidents are coming

[Steve]

The new coin will probably be a flop too.  I have never, NEVER received an Anthony or Sacagawea dollar in change from a cash transaction.  I have never even possessed one of these dollars.  I have seen the Anthony dollar only once, when I asked to see one at the bank; I have never even seen the Sacagawea dollar.
The only way a dollar coin is ever going to be a success is if the mint simply stops all printing of paper dollars and forces the public to use coins.

[sgrizzle]

I've used probably a couple of dozen Anthony's and a lot of Sacagaweas. Buy stamps from a machine at the post office. You'll get them too.

I like using them for tip money. Throw a few sacagaweas on the table, seperate from the bill.

[cannon_fodder]

I like the dollar coins and try to use them as often as I can.  For several reasons:

1) Saves tax payers money (not that the government wont blow it on something else)

2) Its interesting to see the several different ones there are, and more so when the presidents come out (I will give you ten (10!)Jefferson coins for every one of the hated Jackson you wish to tender).

3) It seems to confuse the less intelligent clerks that often receive them.  You can see the phases:  Is this a joke?  Maybe it is real money... well it says $1 on it.  I guess its real.  "Thank you sir."

I for one, welcome our new nickel overlords.

[Steve]

quote:Originally posted by Steve

The new coin will probably be a flop too.  I have never, NEVER received an Anthony or Sacagawea dollar in change from a cash transaction.  I have never even possessed one of these dollars.  I have seen the Anthony dollar only once, when I asked to see one at the bank; I have never even seen the Sacagawea dollar.
The only way a dollar coin is ever going to be a success is if the mint simply stops all printing of paper dollars and forces the public to use coins.

I have nothing against $1 coins, I just think it is odd that in my experience, I have never seen one or received one in a cash transaction.  I am just John Q. Average, so I think that is pretty strong evidence that any $1 coin, no matter the design, will be a hard sell for widespread public acceptance.
The Anthony dollar came out in the late 1970s so vending and cash register companies have had plenty time to make equipment mods.  The coin would save the government money because it is much more durable than a paper $1.  I don't know for sure why previous $1 coins have failed, but I think the only sure way for a $1 coin to become the norm is for the mint to phase out production of paper $1 bills.

[RecycleMichael]

quote: 1) Saves tax payers money (not that the government won't blow it on something else)

Converting all ones to coin and discontinuing the paper dollar will save U.S. taxpayers 600 million dollars a year (about two dollars a year for every American).

I carry coins and try to use them for all small purchases.

[mdunn]

I got some from my bank here in Palm Beach today.I went to a grocery store to the dumbest looking haitian I could find(MOST arent that bright)She tried to tell me it wasnt american money,and had to get mgr...had a good laugh over that!

[Ed W]

I've had cashiers eye the gold Sacajewea (sp?) dubiously, too.  A teenage clerk asked, "Is this REAL money?"  

My main problem with this is that my wife and kids like the coins.  I'm in the habit of emptying my pockets and leaving my change out where they can see it.  Sure enough, the next morning any one dollar coins will be missing.

[Breadburner]

quote:Originally posted by mdunn

all the presidents are coming

At once...Or just Clinton on another dress....

[mdunn]

quote:Originally posted by Breadburner

quote:Originally posted by mdunn

all the presidents are coming

At once...Or just Clinton on another dress....

4 dead prez a year..until we get to present times...Im sure dubya had a decision in this to get his silly looking mug on one

[sgrizzle]

Supposedly they are stopping at Ford.

Everyone knows a G.W. Bush dollar would cost $13.73

[mdunn]

quote:Originally posted by sgrizzle

Supposedly they are stopping at Ford.

Everyone knows a G.W. Bush dollar would cost $13.73

and would be sent to IRAQ immediatly

[cannon_fodder]

Official designs for the quarters:

The Washington quarter will be minted on British soil and only be worth 70 cents (the other 30 cents will be taken by taxes to the crown).

Adams will get a federally issued coin, but he wont like it.

Freedom loving Jefferson's coin will first be issued to and put into circulation through the ancestors he sired with his African slaves.

since most people dont care nor know many of the presidents (and I dont have that much time), I'll just hit the highlights from here on out:

John Quincy Adams doesnt need a portrait, just a "Q" on the coin.

By law, Jackson's coin will now be used exclusively as $1 tokens at Indian Casinos and accepted no where else.  It can be exchanged for Sacajawea coins at the door for expenditure elsewhere.

A handful of Polk coins will be handed to all Mexicans entering the Southwest.

Taylors coin will be eatable and serve as an antacid.

Lincoln doesnt get one, until Illinois lets us stop minting pennies for 3 cents each.

Grants coin will not be acceptable south of the Mason Dixon line.

Garfield will be circulated by using them to pay political appointees.

Cleveland's coin will be issued on two, non-consecutive occasions... and no one will remember either one.

The Teddy Roosevelt coin will double as a shiny object suitable for the trap and slaughter of raccoons and other cute, cuddly animals that he sought to protect and then kill.

Instead of a coin, they are planning on issuing $1 sheets of corrugated steel for Hoover.

FDR doesnt get a coin, they can do this because they are confident that even if he was alive he wouldn't be able to stand up to them.

Truman's coin will come encased in lead, for obvious reasons.

The Kennedy coin will be issued with much fanfare. However, it should be noted that the coin is not bullet proof, cannot fly, and should avoid skiing.  It will be accepted as payment in full for vehicular homicides in association with DUIs.

The Johnson coin will be issued in limited numbers as non-participating observers of the economy.  

Plans for Carter's coin include making it the smartest coin in the nation - but for some reason people still wont like it.

Apparently Reagon already borrowed against his coins when he was in office to increase military spending.

Bush I's coins will be taken to pay for some new taxes...

Clinton may or may not have already had some coin from a real estate deal in... look!  A blowjob in the whitehouse!  What were we talking about?

In an unparalleled move the treasury department has actually designed the currency for the sitting president.  Instead of a coin, treasury officials plan on issuing a small plastic tube with $1 worth of oil it.



There, I think I jabbed equally at all political views.  If you dont get it, go read something about the president and you should... or I didnt do a good enough job.  Kinda' wrote them on the fly.

- Jesse