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Failure Or Success? Presidential Dollars Are Not Circulating

 
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Pillar of the Community
United States
4669 Posts
 Posted 03/13/2019  10:44 pm Show Profile   Bookmark this topic Add TheForce to your friends list Get a Link to this Message
Article is a couple of years old but a good read nonetheless. I will beat this like a dead horse BUT dollar coins will not be embraced as long as the green back exists.

https://www.coinworld.com/news/us-c...dollars.html
*Complete Canada 50 cent set 1953-present
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Valued Member
United States
103 Posts
 Posted 03/13/2019  11:37 pm  Show Profile   Bookmark this reply Add NPCoin to your friends list Get a Link to this Reply

Quote:
dollar coins will not be embraced as long as the green back exists.

No. Dollar coins will not be embraced as long as you are not using them.

I use dollar coins all the time and I am in and out of line faster than others because of it. A quick hand in the pocket, 4 or 5 coins on the counter, change made, and out! Beats pulling out a wallet and unfurling bills, putting wallet back...takes longer. Would be even better having $2 and $5 coins as well.

Valued Member
United States
299 Posts
 Posted 03/14/2019  03:10 am  Show Profile   Bookmark this reply Add Pauldog to your friends list Get a Link to this Reply
Is there room for them in your average cash register? I never get dollar coins in change, except years ago from post office vending machines. I haven't always been able to get any from banks or post offices lately.

Maybe they should be a little larger, so they don't seem like slightly overgrown quarters? The brass color is probably a good idea.
Edited by Pauldog
03/14/2019 03:40 am
Bedrock of the Community
Australia
15269 Posts
 Posted 03/14/2019  03:12 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Australia:

We used to have Dollar notes, but I am glad they are no more.
Dollar Notes used to circulate, but they were replaced by coins.
I am glad that the Dollar Notes were withdrawn, Coins FAR more convenient.

I used to have a few of the old worn Dollar Notes, but the young checkout chicks refused to accept them, despite remaining Legal Tender.
Only old cashiers who remember them, and will accept the Notes, usually with much surprise. Older cashiers immediately withdraw the Notes, for a personal keepsake.
Valued Member
United States
299 Posts
 Posted 03/14/2019  03:53 am  Show Profile   Bookmark this reply Add Pauldog to your friends list Get a Link to this Reply
sel_69l, how many different coins are common in Australia? In the USA, we have 4 common coins, and might need two compartments set aside in a cash register to hold quarters.
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United States
3661 Posts
 Posted 03/14/2019  06:04 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
I'm strictly a cash user. I like checking my change for collectibles. However, I dislike carrying coins in pocket.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
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9095 Posts
 Posted 03/14/2019  07:22 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
The Massachusetts paper lobby in D.C. has insured dollar coins will not succeed. Ironic they spend money to keep printing money. :)
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Bedrock of the Community
United States
17948 Posts
 Posted 03/14/2019  08:43 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I never use those dollar coins. However, I seldom use cash of any kind anymore. I really don't know why everyone doesn't use plastic cards. Stores charge the same if cash or plastic. I get money back when using plastic, not cash. Why carry something heavier than one plastic card?
just carl
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United States
71027 Posts
 Posted 03/14/2019  08:46 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
No. Dollar coins will not be embraced as long as you are not using them.
No, Force is correct. They are competing forms. The familiar is more often preferred. Get rid of the competition if you want to see Dollar coins circulate.

Every other nation has figured this out, but as far as I know none of those nations had deal with a lobby like the one that BH mentioned.
Pillar of the Community
United Kingdom
4969 Posts
 Posted 03/14/2019  09:02 am  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply
In the UK, back in 1983, the pound coin was introduced. For almost three years you never saw one in circulation, and everyone continued using pound notes even though hundreds of millions of pound coins were minted. Then they stopped making the pound note and the coins took over after a few months.

The situation in pre-Euro France was similar: the base metal 10-franc coin was introduced in 1974 but didn't circulate much until the note of the same value ceased production in 1978. Even then the note remained legal tender for a further 9 years before it was demonetised.
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Pillar of the Community
United States
574 Posts
 Posted 03/14/2019  10:15 am  Show Profile   Bookmark this reply Add garys64wildcat to your friends list Get a Link to this Reply
It was the same here when I was a kid in Iowa back in the 50,s. I could get Silver Morgan and Peace dollars anytime at the bank. They had bags of BU dollars. I had an 03-0 Morgan that was rare, then the govt. released lots of bags of them and they became common so I spent it.

Sounds like what is going on now. They were heavy coins and people didn't like the weight then and bills were light to carry.
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United States
574 Posts
 Posted 03/14/2019  10:49 am  Show Profile   Bookmark this reply Add garys64wildcat to your friends list Get a Link to this Reply
The Force,
Thank You for that article, it was interesting to read
Pillar of the Community
United States
548 Posts
 Posted 03/14/2019  11:07 am  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
It is possible to make a case that dollar coins never circulated widely.

During the silver dollar era, long gaps in mint production existed because of lack of business and banking demand for the coins. But for the political push to purchase and coin silver from the Comstock Mine, combined with the comparative efficiency of coining dollar coins over subsidiary coinage, these gaps would have been more pronounced.

Silver dollars circulated widely in very few parts of the country, chiefly on the urbanized east coast. The availability of so many bags of dollars for Pittman Act and Silver Act of 1942 melting attests to their unpopularity. Ditto for the comparatively high grades of so many dollars released in the silver rush of the late 1950s and early 1960s.

Gold dollars circulated more widely, but had the different problem of being small enough to be lost easily.

The issue today is more complex. Eisenhowers were too large and heavy. The SBAs looked too much like quarters. The Sacs and Presidentials have too many different designs and lack familiarity for the general population. Debit cards have replaced carrying cash for many people. And the buying power of a dollar doesn't spur circulation.

This may be numismatic heresy, but I think it would be better to throw in the towel on the idea of a circulating one dollar metallic coin. It's time for a translucent plastic dollar coin, with an embedded readable serial numbered chip. That would be light enough to be useful, long lasting, somewhat difficult to counterfeit, and would circulate if combined with cessation of one dollar currency.

That said, replacement of higher denomination currency with metallic coins would have several benefits. Just two coins could replace the $5, $10, $20, $50, and $100 notes. A five dollar bimetallic coin and an Eisenhower size and weight twenty dollar coin, combined with currency cessation, would provide ample flexibility for cash transactions. There would be an additional benefit: disruption of drug trafficking. (Picture the local drug dealer jogging down the street with a couple thousand dollars in heavy coins in the pocket, or a Cessna or Piper Cub trying to fly out of the country with boxes of coins on board.)

It's time for a broader rethinking of circulating money.

Just my two cents worth. Oh wait, they don't circulate either.
Pillar of the Community
United States
1763 Posts
 Posted 03/14/2019  11:13 am  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply
Presidential dollars were never struck to circulate.
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71027 Posts
 Posted 03/14/2019  11:16 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Presidential dollars were never struck to circulate.
Actually, they were from 2007 to 2011. As indicated in the article, they incorrectly believed the rotating designs would get them to circulate like the Statehood Quarters. They were wrong and in 2012 the Presidential dollar ceased being minted for circulation.
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