Wednesday, September 19, 2007

More on dollar coins

OK, so I wanted this to be a separate post since I wanted to try and focus as much as possible on the Sacagawea dollars in my previous post. Now I want to talk a bit about the Presidential dollars.

Why this program will not work:

1) Since the vast majority of people do not follow the design process for the 50 State Quarters program they are pleasantly surprised by new designs and find them intriguing. Even we as collectors will only know a year or so in advance what a coin will look like. This is not the case with the Presidential dollar coin series. If the artistry of these coins continues to be vastly unimaginative then there is no reason to get excited by them. Want to know what the Millard Fillmore coin will look like? Find a portrait of him online and imagine what a three quarters profile of it would be and there is your coin. There is nothing exciting about them other than the edge incuse lettering that might be history if Congress has its way.

2) Speaking of that legislation, I am highly amused that there are those in Congress who actually look at the edge lettering as some slap in the face to God. Do they realize they authorized this program in 2005 and it was signed into law by the president? No one then seemed to think much of moving a majority of the required inscriptions to the edge but now a few people are dumb enough to think that the Mint is insulting God and suddenly we have representatives trying to "punish" the Mint by making them look like the bad guy. Ridiculous.

3) As stated previously, with a dollar bill being a different option for carrying 100 cents in your bill fold, these will never circulate, just take up space in the Mint's and the Federal Reserve System's vaults. Either eliminate the dollar bill or stop legislating coins that no one wants and only coin collectors will collect.

1 comments:

Karthik Subramanian said...

The problem is that change is heavy, and I hate carrying it. However, if the dollar were eliminated, I would use the dollar coin out of necessity, but until then, I've really got no reason to make my pockets heavier. At the end of the day, any change I've accumulated goes into a change jar - I've got over $50 just sitting in there in coins... heh. Dollar coins would only add to that...