U.S. Mint to end Sac's circulation?

Placid

That's what I heard on CNN.
The Mint already stopped making more in march and now it looks like they might not make anymore ever.
According to CNN the GAO said they are unpopular and wants them reviewed for removal.

crito

You can't believe anything you hear on CNN

construct

<< <i>That's what I heard on CNN.
The Mint already stopped making more in march and now it looks like they might not make anymore ever.
According to CNN the GAO said they are unpopular and wants them reviewed for removal. >>



Whoever heard of removing a coin from circulation! The only coin I can remember being demonetized was the Trade Dollar--oh and gold coinage in 1933. Why would they bother?

itsnotjustme

If you go to the GAO site GAO and follow the links for the press, the entire report can be found... it came out 13 Sep. It certainly does not say to withdraw the coin.

The report discusses the marketing programs for the coin. An interesting part is the number of coins distributed per 1$ of mint cost. The Walmart & Safeway programs were very effective, hundreds of coins per dollar spent. At the opposite end of the spectrum, it cost $50,000 to distribute 23,000 coins through the LA Dodgers.... would have been cheaper to hand a roll to every pedestrian on the street outside the mints.

The report looks pretty factual and accurate... they certainly understand the factors keeping the dollar coin from wide spread use... co-circulation of the $ FRN, reluctance to use until others are, non-availability at banks, public not wanting to until retailers do--and retailers not wanting to until the public does, mixing Sacs with SBAs, etc.

pontiacinf

thanks for explaining this to them Brian, I didnt have the patiance to

JD

Sac's, or any other $1 coin to be created, will NEVER take off in circulation until the $1 bill is retired.

dddangerousdan

I wonder what pathetic thing they will try to shove into our pockets with the next one? I just hope they come up with something worthy of our collections

DAN

presleyh

A five dollar coin would work. Dollar coins wont buy anything anymore. If you go to lunch would you rather pull out 5 one dollar coins or a five dollar bill?

LucyBop

Lucybop really likes this coin and was very happy that the mint came out with a new design. Could it have been made better? Yes! But inspite of it all, I always buy rolls or put a twenty in a stamp machine and buy one stamp just to get Sac's and spend them. I wonder if PCGs with bodybag one for artificial toning, as mine tend to tone right before my eyes.....




_______________________
The HepKitty

windwhispersintrees

I'd be happy to spend them if I actually got any in circulation. Have yet to see one.

Blade

Great point JD. So let's retire the dollar bill.

Bikingnut

One dollar coins will work if the public were forced to use them. The SBA would have worked had there been no one dollar bills.

ursabear

I think an interesting case study is to ask our Canadian friends. They have one and two dollar coins, with no one and two dollar bills. They've had it this way for quite some time now.

richbeat

Count me among those who believe that the Sac will never truly work until the dollar bill is eliminated. Whatever its fate, I'm hoping that it will continue to be struck for proof and mint sets. That probably won't happen if it's decided to discontinue production. I'm pro Sac, but it doesn't take a rocket scientist to figure out why it's not working.

robertpr

Yeah, of course a dollar coin would work if the public had no choice, but we do have a choice and clearly we do not like the stupid little dollar coins. Maybe a large dollar coin WOULD work.

wingedliberty

Regardless of the result, I will continue to stockpile PCGS/NGC 2002 Sacs in MS67-69, at $15 are they
a bargain???? Yes,Yes, and Yes. With a projected mintage of less than 7M, and ruthless mishandling.
Are MS68 Sacs in PCGS-68 at $15 a piece , a bargain, yes again , I already bought a few dozen off
Ebay. Who agrees?


Brian.