Wednesday, April 27, 2005

Dollar coin solution

Its never been clear to me why I never see dollar coins in circulation. This story on attributes the failure of the Susan B. Anthony dollar to its unpopularity with the public, which never made any sense to me. If the public found it unpopular, how exactly did it express that displeasure? When given change that included dollar coins, were there mass refusals and demands for bills? Did they throw the coins away? Money is money, and when I come across it, I use it, no matter in what form it comes. It seems the Sacagewea coin is meeting the same fate. If I saw more of them in circulation, I would use them. Where are they?

Now, there is a proposal to re-introduce a dollar coin, but in a series that features the presidents in chronological order. I would propose going further and minting coins where each U.S. citizen gets their face on precisely one coin. Sure it would be expensive, but if the goal isn't circulation, but to have people hoarding away coins, then I could conceive of a huge trading system where people would attempt to find their unique coin and even perhaps (maybe especially) those of famous people.


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