Thursday, November 23, 2006

The (next) New Dollar Coin

Today is Thanksgiving here in the United States.

I hope that you are all enjoying time spent with family and friends... but just in case you are addicted to blogs.... I wrote this yesterday.

I am posting it now, while I am in-between making my famous applesauce (pictures to follow tomorrow) and peeling potatoes.


The (next) New Dollar Coin

The United States is going to take another stab at Dollar coins.

Haven't we already been through this?

In the late 1970's we produced the nearly-quarter sized Susan B. Anthony dollar:

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This coin was barely used and scarcely circulated.

We tried again just a few years ago with the Sacajawea Dollar:

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Which for some reason, people thought they were made of gold, just because the color, with the same poor results.

I actually knew people that were hoarding them just in case we ever went back to the gold standard!!!!! "Just you wait Bill... this is going to be worth some money soon" Yeah... a dollar, you moron!

Now, we are about to try again, but, this time, we aren't going to put a woman on the coin. This time, we are taking a new tack and we are going to do a series of dollar coins, each new coin depicting the face of a former President (as long as he has been dead for at least two years.

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Zzzzzzzzzzzzzz.... oh, I'm sorry, I fell asleep. Couldn't we have done something a bit bolder? Perhaps Lady Liberty or The Bald Eagle should have graced the new dollar coin.

It seems that our government still can't figure some of the simpler things out.

The United States Government, which sent people to the moon, which is responsible for the creation of the medium in which I am communicating with you now, which can produce amazing weapons, which has enough money to do nearly everything it wants (except guarantee access to decent health care, 'scuse me for being a smart ass), can't figure out that the kiss-of-death for any dollar coin initiative is the government's failure to end production of the one dollar bill:

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Continuing to produce and circulate the one dollar bill is at the heart of dollar coin failure. Inertia suggests that given the opportunity, most people won't change simply for the sake of change. If we are serious about using dollar coins, perhaps the best and most effective way to do it will be to give a suspense date for the acceptance of the dollar bill six months after the date of introduction for the new coin.

It all seems so simple that you can scarcely credit that it hasn't been done before.

Happy Thanksgiving!



Elizabeth said...

I for one hope they don't kill the dollar bill and just stop with the dollar coins. Carrying coins is bad enough, can you imagine how much worse it will be if they get rid of the dollar bill?

Happy Thanskgiving to you and your family!

Trish said...

Dollar coins aren't so bad. We've had them in circulation for 15 years and now we even have a $2 coin.

Happy Thanksgiving

PunditMom said...

It's the simple arguments that seem to get ignored.

And, yes, couldn't help myself but to post today!

Happy Thanksgiving!

Kathleenios said...

Ah, yet another opportunity to learn from Canada :)

Actually, here's a good reason to have $1 and $2 coins: when you think you have no money with you and you're sifting through your handful of change and find a loonie or toonie, then you have enough money to buy a coffee from Tim's, or a newspaper, or whatever! It's great!

Gunfighter said...

Trish & Kathleen,

I wish we were able to take a lesson from you folks up north.

I would rather have 5 Toonies or even 10 Loonies than have ten dollar bills in my pocket.


I know that you posted, my friend... your went up bfore mine did!


Just consider carrying the extra coinage to be a national excercise program, God knows thatwe, as a nation, really need it!

Sister Mary Lisa said...

I think you have the right idea here. Except, isn't it probably cheaper to produce a dollar bill than a coin? If so, they should scrap the coin idea altogether and use our tax dollars for something more productive, like health care improvements as you suggested.

I like your blog too! If you are really interested in what you asked me about, e-mail me at Sistermary_lisa at yahoo dot com.

Gunfighter said...


I think that once minting took place, the overall lifespan of a circulated coin versus that of a printed bill would offset any initial increase in expense.

I'm glad you like the blog... feel free to visit often.