What ever happened to our US Dollar coin??

GoldCoinLover

They no longer make sac dollars for circulation. Why did they stop producing them?? They were great! Now we have no dollar coins . It's pretty disappointing, especially since I very rarely see even half dollar coins in my change anymore. No one carries them. When will they make another dollar coin? Was the sac dollar limited edition only? It was a great coin and I'm really upset they stopped making it for circulation.

coppercoins

Because people refuse to use them, circulate them, and learn to like them because they have their security blankets - $1 notes. As soon as the Feds take away the security blankets, they can get serious about getting any dollar coin to circulate. Until then, forget it.

cdwegner

what cc said

ddink

There are still *enormous* quantities of them at the Federal Reserve. Too many made, not enough spent. Economics aside, lots of people just don't like to carry around change. Personally if all vending machines took them, I'd carry some.

dlimb2

If they are not going to mint anymore Sacs, I like the idea...makes the ones I have more valuable....

MPeter

I read an article about dollar coins in the USA Today about a month ago. From what I remember, it mentioned something about coming out with a new dollar coin line a few years from now. The coin would be based on the idea of the State Quarters, but would feature U.S. Presidents instead. Anyone else hear about this?

windwhispersintrees

If stores actually used them and gave them in change, I'd use them. But, I've yet to receive any, therefore I have none to spend.

Wolf359

As silly as this may sound, there is no slot for dollar or half-dollar coins in cash registers. So where do you put them?
Vending machines don't take them either.

They are viewed as a pain in the butt mostly. Nobody liked Morgan dollars either when they were in circulation, but look at them
now

construct

I guess they've already made enough for everybody that wants to use them. I used one tonight in paying my restaurant check.

GaCoinGuy

I get them from the PO stamp machines as change.........they either then go back in to the machine for more stamps, or if it's just a few, I leave em as tips in restuarants. I wish the feds would get rid of the dollar bill.......do what the candians did, force people to use coin.

ddink

<< <i>I wish the feds would get rid of the dollar bill.......do what the candians did, force people to use coin. >>



Why alienate your constituents by inconveniencing them to "save" a few bucks? Why force cash drawers to be redesigned? Why force vending machines to be redesigned? The supposed savings over the dollar bill would be eclipsed by the cost of remaking millions of cash drawers and reprogramming hundreds of thousands of vending machines.

At any rate, Sacs are great for paying tips since you don't have to worry about dollar bills blowing off the table.

cladking

Until the banks use these in everyday transactions it has not been proven that the
American people don't want it.

Obviously some people would ask for paper currency instead, but who's to say how
people will react to the use of these in everyday commerce while the banks simply re-
fuse to issue them.

mgoodm3

what dollar coin?

Kriek

Today’s society rarely sees a dollar in the form of a coin, much less in circulation.

MSD61

I agree with cladking. People will not use dollar coinage I mean you see it now, pull out a Sac or SBA and you get a dirty look from the person behind the counter.

ddink

Cladking, true, but I'm willing to bet if you did a survey of how many people prefer not to carry around change, you'd find the majority--or perhaps even just a substantial minority--don't want to.

Look at this from a political standpoint, since that's what it would ultimately boil down to. The old axiom is "if it isn't broken, don't fix it." Sure, the government would save a little money if the dollar bill was replaced entirely by the dollar coin. But as a U.S. Congressman/woman or Senator, ask yourself whether your constituents prefer to generate a little more revenue for the government (in the form of seinorage), or be less inconvenienced by additional pocket change. Whatever additional revenue the federal government brings in will just be wasted like all the rest of our tax money, so what do the American people care? Until the bureaucracy is reformed, saving tens of millions a dollars a year is meaningless, since those tens of millions will just be wasted by the government in some other way.

To the members of Congress that would have to pass such legislation the question is: "How would this help and hurt my popularity with my constituency?" Even big issues like gay rights and such that are being debated at the present don't affect most people personally. However, the removal of the dollar bill would affect people's daily lives. I for one would never carry around dollar coins because I cannot stand pocket change. I think I'm not along in my feelings, and I think politicians weight these concerns carefully.

Not to mention any money saved by the government is lost by the public sector as the economy (cash drawers and vending machines) is reworked to eliminate the bill and accept the coin.

P.S. Permit me to add that tradition is very hard to overcome and there have to be compelling reasons to get people to change their habits. Look at how people get set in their ways. I just think you'll find it difficult to get people to accept changes in their every day lives that aren't motivated by compelling factors. Why should banks issue coins instead of bills when they believe, probably rightly, that their customers will balk? Once again, nothing is gained by this. Now interesting ideas have been presented in the past, such as having the Fed sell Sacs to banks for $.98 each. That might work, but it brings about other problems, like major questions of fairness. Our Republic is based on egalitarianism for all, and to have big business intentionally and obviously favored over consumers might not be a popular political position

At any rate, it's a thorny question. I think in the end, the status quo will win. The advantages to a change simply aren't there. Not to mention the opposition of the paper lobby.

LALASD4

I do my part of putting them in circulation, I get them from the Post Office or the bank, look at them and then spend them. Maybe people just keep them when they get it in charge and not spend them, that could be one reason why we do not se them.

But I agree MSD61, people do give you a funny look when you spend them, yesterday I brought just a hambuger and nothing else (because it was really painful for me to swallow from strap throat and felt like I was dying) from In-N-Out with dollar coins and they look at me like are you down to your last dollar?

cdwegner

I think it saves more than a little money for the government...

It always makes me laugh when people say, "I don't like carrying change. I don't want to have $10 in dollar coins in my pocket."

I've travelled to Canada a few times, and each time, you know what... You don't end up with $10 in coins in your pocket, because you are spending them. Duh. You get used to it real fast. And those $2 loonies are great, too.

How often do you have $10 in $1 bills in your wallet (all of you strip bar fans raise your hands)? Sometimes, but you usually spend them.

It's just plain silly.

c

cdwegner

BTW, the vending machines at my local park take Sacagewea dollars just fine.

CoinHusker

<< <i> Sure, the government would save a little money if the dollar bill was replaced entirely by the dollar coin. >>


In 2000 the GAO estimated the savings would be $500,000 annually.


Also, MPeter, there was a lengthy thread (maybe 2) a few weeks ago about the new "Presidential" dollar series. It was quite informative and worth the time to look it up.