What Is Your Opinion On The Pres Dollars?

"Since they do not circulate (mostly because the one dollar FRN is still being issued), I think it would have been better to issue these as full size dollars."

While it is true that they don't currently circulate, the goal was to have these dollars circulate. The reason they shrunk the size on the dollar coin (from the Ike dollar to the SBA) was that people complained of carrying large heavy coins. While a larger coin would provide more space for the design it would be counterproductive to the goal.

jbuck:

Point well taken. I agree with you that no dollar coin will ever successfully circulate as long as the Federal Reserve Note is still being issued. I also agree with you that they initiated this series (at least in part) to make money from collectors. Some proof of this is that they previously tried unsuccessfully on several occasions with the Ike dollars, SBA dollars, and a pretty extensive ad campaign with the Sac dollars (billed as "golden dollars") to have dollar coins circulate. With nearly 40 years of failed experiences they still went forward with it.

Well, the last time dollar coins even reasonably circulated was about 100 years ago. And even then, Morgan dollars primarily just circulated in the West. The U.S. population just does not have a history of using dollar coins. By eliminating the $1 bill, Americans will be "forced" to use dollar coins for smaller purchases.

The sizes of the Dime, Quarter, Half-Dollar and 38mm Dollar were standardized for .900 Silver content around 1836-37, there's no reason why circulating cupro-nickel coinage has to adhere to these sizes.

Since we have had a 26.5mm Dollar coin standard since 1979, it would make sense to establish a 30.5mm Two-Dollar coin standard (now that the Half-Dollar is really gone from everyday circulation).

38mm circulating coin? Based on the above, it should be a $20 coin!
Any coin that big should have some real purchasing power, and Morgans sure did in their day ($1 in 1904 = $23 in 2008!).

A lower-mintage (say, '10 million per year' base target figure) 'limited-circulation' by design but still business-strike $20 coin would appeal to the gambling industry (as 38mm coins always did), and have undisputed collector appeal! Lower mintage by design would help quality control, boosting collector appeal. The high face value would make the coins very profitable, even in their specified lower volume production runs.

The lower mintage target would make it more practical to distribute most/all of the run via 'Direct Ship Rolls' as a 'limited-circulation' issue (so they would NOT be sent to the Fed branches!). Any banks or casinos wanting the coins would order them directly from the Mint. If collectors gobbled them all up, that wouldn't be a problem for the Mint, because of seigniorage.
It might be wise to stagger the shipment dates (once a month) so they didn't all sell out in January.

Unlike A.S.E.'s, you could spend them for fun, use them at the poker table, and it would be a real treat to get one from circulation!

I'm thinking of a coin that would be 'limited-by-design', but something that could still be used in circulation (cupro-nickel business strike, matte fields on the flat surfaces, a simple design that would 'wear' well ie. an updated Liberty Head), and not a 'rarity' (enough made to keep them obtainable at face value, but not dumped by the zillions into the Fed!).

The Mint has always tried to make as many business strike coins as possible, but I think it's high time that they tried a 'limited' business strike as above. If business strike Dollar coins had been 'limited' (specified maximum production caps) in this manner since 1979, we wouldn't have such an overabundance of them at the Banks and the Feds today (and new Dollar coins would thus be distributed even in a bad recession!).

I think the Eisenhower dollar would have been much more successful if it had been a 'limited' business strike issue, as I outlined for my $20 coin concept above. (and today the Mint would have the advantage of being able to sell the 'limited' business strikes directly via Direct Ship, and bypassing the Fed.) Even in the 1970's they could have sold the bulk of the 'limited' Ikes directly to the casinos, and the rest directly to collectors via mail order. This could have all been done from one distribution center in Las Vegas!

You could even make a decent argument that if Morgan silver dollar production had been 'limited', the Silver Crash of 1893 may have been prevented (or at least reduced in economic impact)!

Let's face it, as long as the $1 note is around, production caps on Dollar coins just make sense!

Apparently, the Mint has never heard the phrase 'too much of a good thing' (since the 1800's ) !

You can't remove the dollar bill until you have enough coins to replace the bills. There are 8 billion $1 FRN, and we can't make enough $1 coins in 22 months (life of a $1 note).

Once they get these $10 billion Pres/NA/SAC/SBA coins minted, then they are going to cram them down our throats by doing away with the $1 note.

This is why they aren't limiting production... They need to build up inventory for this day. Just think...they sold it to everyone as making them for collectors. Then they will say we need to make them be used since we spend the money making them.

-SWUSC

"'limited-circulation' by design but still business-strike $20 coin would appeal to the gambling industry (as 38mm coins always did)"

Yes there was a time when slot machines accepted coins, but the vast majority of casinos in the U.S. have switched over to electronic slot machines. There are very few casinos left in Vegas that even accept coins. They only take notes and "receipts" that have a bar code with the amount printed on them. As far as the tables are concerned, the chip denominations usually are $1, $5, $25, $100... Odd denominations of $2, $3, $10, and $20 do exist but are rarely used. Usually their use is restricted within the confines of the poker room. As such, having all plastic chips and metal $20 coins intermingled would not be of interest to the average poker player. My point is that I doubt the gambling industry would have any interest in $20 coins.

I on the other hand, would thoroughly enjoy a $20 coin!

So then I "SHOULD" be saving every BU roll of each President for "that day" when the Fed. Resv. Note is abolished and circulation of all the different Dollar coins is wildly rampant !........