Thursday, February 15, 2007

THE LATEST $1 COIN TO CIRCULATE (NOT)


Can you name the three persons depicted on $1 coins in the later half of the 20th century? Yes, there were three. The US Mint today issued the 1st of the new Presidential series of one dollar coins featuring George Washington on the obverse and the statue of liberty on the reverse. The mint plans on issuing 4 designs each year to honor our presidents.

Dollar coins have found favor in Canada, when the treasury stopped issuing the paper version of the dollar bill. The coins became so popular that Canada issued a $2 coin which is also popular. Here in the States, the dollar coin has failed miserably because the treasury still prints the dollar bill. So why hasn’t the US Treasury figured out why the “loonies” and “twoonies” are so popular while the US versions sit in treasury vaults.

Coins may have an initial higher cost, but remain in circulation far longer, and eventually cost less than the constant printing of the dollar bill.

The 3 people featured on the dollar coin were Dwight D Eisenhower, Susan B Anthony, and Sacagawea.

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