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Dollar Coins From The 70's To Present (Discussion)

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TheForce's Avatar
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 Posted 10/28/2015  1:09 pm Show Profile   Bookmark this topic Add TheForce to your friends list Get a Link to this Message Number of Subscribers
I was looking through my Red Book at modern dollar coins and it was thought provoking and I thought we could have a discussion about them.

Looking at the mintages of the Ike's and SBA dollars, they are extremely high compared to the Sac and Prez dollars.

What was the deal with the 1973 P&D dollars in regards to their low mintage? And why were they only issued in mint sets?

And just for the record, I absolutely love the reverse design of the Ike's and SBA dollars...a true testament to humankind. I wish that design was still used.

Were the Ike's common in circulation in the 70's and early 80's?

I realize the SBA dollars were often confused for quarters but personally I can't see how anyone could not know the difference.

The Sac dollars are interesting. The mintages were crazy high for their first year of issue (2000) and they had a decent mintage for 2001. After that the mintages dropped like a rock. I remember the marketing blitz for these when first issued. Interestingly, the remaining issues through 2008 weren't released for circulation. I think these could have caught on had the dollar bill been done away with.

The Native American dollars saw an increased production up until 2011 then dropped off dramatically. Then they were only issued to collectors.

I think it was too soon for the Sac dollars to start changing designs.

The Prez dollars had decent mintages from 2007-2011. Production was significantly cut and not issued for circulation from 2012-present.

I really don't feel the Prez dollars are very popular. Another failed attempt in my opinion.

These are by far the biggest blunder the US Mint has been involved with. 1., billions of these things are sitting in government vaults. Nobody wants to use them. (There is an easy fix, wink). This is just more government waste. I am for dollar coins but I dislike the subject matter and would much prefer a regular design.

The biggest fails is the edge lettering, using $1 instead of ONE DOLLAR, and the fact these get tarnished easily and look like monstrosities. I have noticed rivets in the rims from the edge lettering process.

Any thoughts and or comments or anything else to contribute?

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Atlas642's Avatar
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 Posted 10/28/2015  1:37 pm  Show Profile   Bookmark this reply Add Atlas642 to your friends list Get a Link to this Reply
Well, the absolute biggest blunder for any dollar coin in the U.S. was the fact the government didn't also withdraw the paper dollar from circulation. Consumers prefer to use dollar notes over dollar coins, so any dollar coin is going to see low to no circulation and recognition until the dollar note is done away with.

I also agree the edge lettering is rather annoying. The letters, even when well-struck on the rim, tend to fill in with dirt and debris over time.
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BuckeyeCoinGuy's Avatar
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 Posted 10/28/2015  1:39 pm  Show Profile   Bookmark this reply Add BuckeyeCoinGuy to your friends list Get a Link to this Reply
If people want to withdraw the paper $1 note from circulation, issue a $1 coin with more than $1 of metal value in it.

Incent me, don't debase me.
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jbuck's Avatar
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 Posted 10/28/2015  1:59 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Well, the absolute biggest blunder for any dollar coin in the U.S. was the fact the government didn't also withdraw the paper dollar from circulation.
This. Enough Said.


Quote:
If people want to withdraw the paper $1 note from circulation, issue a $1 coin with more than $1 of metal value in it.
Uh, no. Then they will be hoarded.
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Earle42's Avatar
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 Posted 10/28/2015  2:31 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Answering what I can in order of post:
1973 Ikes:
1973 - I believe, but may need to be corrected, that the anticipated acceptance of Ike's into daily usage was not working. There was no need for more of them to be made.

REV design
The REV design is a tribute to humankind - yes... But at the time it was seen also as a main symbol of American pride that our type of government system (back then), free enterprise, and American capitalism was the only system that had ever allowed man the freedom to advance to such heights. However, in the true spirit of that system as it was, we desired the same for all mankind and so willingly shared shared the accomplishment by saying it was a giant leap step for mankind and not just the US. Sadly, this may not be the politically correct version of history taught today, but nonetheless, it is fact that those of us who lived in that era will testify to. Much of the world, at the time were standing in awe and pride of Yankee ingenuity.

Ike's circulating:
Ike's never really circulated well in the area I was in. I always was on the lookout for them b/c of their unusual size and novelty. I used them every once in awhile as a kid. But in order to get any, I normally had to ask for them at the bank (and did). I do remember paying with them and some people saying they had heard of them, but this was the first they had seen... and they were going to take it home and keep it as something special.

SBA and quarters, SBA and acceptance:

SBA - became the "Carter Quarter" b/c quarters were worth a lot more back then and THE coin of Usage. Most people in this world, to the shock and wonder of we coin collectors, do not take the time to look at their money. In fact shockingly few people can tell you who appears on our coins and bills. Everyone back arounf the intro of the SBA was simply used to feeling in their pocket for a quarter and popping it into a Pepsi machine (and getting change back!). People thought it stupid that they now had to look at their change to make sure it was a quarter they were ready to spend. It was not a natural thing to do when feel alone had been good enough for so long. Hence the SBA's became hated in a short time and eventually were relegated to subway tokens (good idea actually instead of wasting them).

Sac:
I also like the Sacs. Except I do not like the recent construction worker design. It just seems to stick out like a sore thumb when compared to the other neat designs they have been making. I don't know how else they could have kept the more artistic theme going considering it was honoring these workers though, and I am glad they got their recognition.

Would Sacs have caught on if the government had gotten rid of the dollar bill? Google Pavlov's dog. Beat anything long enough it will not resist, and it may even readily accept something if it never knew/experienced other options.
Dollar bills are preferred for their ability to put much more value in a lighter "package." This has been debated over and over on this forum. But I admit it still shocks me that I live in a day some Americans prefer the government force the American people against their loudly stated will/preferences. By citing other instances of this happening does not make ANY of it right - this is supposed to be America.

Since quarters were losing enough value that they were not the most commonly used monetary unit when Sac's came out, this (and color) probably saved Sacs from becoming a new type of "Carter Quarter."
But I know the people I interacted with still saw them as a novelty item. I heard and saw people turn them down as wanting "real" money, and they did not want to carry any more change than they had to.


Presidential series:
Math done in other thread -- the cost of wasted money to produce the extant Presidential dollars (per US citizen) is a whopping six cents (.06). When gas prices go up overnight, you lose more out of your pocket for just one tank of gas...and soon forget about it. Waste is never good - so let's study/learn from history of Americans not wanting a dollar coins to use daily. Let's stop throwing good money after wasted money (three times over). Whether on the winning team or not, "three strikes you're out" normally makes sense to most people - except those who stand to make a profit and spend other people's money to do so.

Had the profiles of the dollar coins been recognizable as to who they are supposed to represent, had their not been edge lettering to hide identifying characteristics of date and MM, and had they been (wait for it ) bills and not coins...then people might have accepted them. Even then there likely would have been those thinking it not right to replace President Washington in such a commonly encountered place.

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crazyglue's Avatar
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 Posted 10/28/2015  3:56 pm  Show Profile   Bookmark this reply Add crazyglue to your friends list Get a Link to this Reply
As an everyday consumer, I have never been a big dollar coin fan-- and don't like the idea of eliminating the dollar bill. I don't even like the fifty cent piece in my pocket.

As a coin collector-- I love 50 cent pieces. They are the right size for my poor eyesight and have all sorts of variety-- Walking Liberty, Franklin, Barber, Kennedy- classic and modern commemoratives-- love them.

But I don't like dollar coins. I have never found the classic dollars very nice looking, have never picked up morgan fever, thought the IKE's were okay and didn't mind SBA...but don't care for the golden dollars. As a coin collector I hate that there are two dollar types at the same time, with 5 designs each year, all of which I do not care for very much.

If they did get rid of the dollar bill, I would use dollar coins-- but I would prefer them to be clad and look a lot like SBA.
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batboy's Avatar
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 Posted 10/28/2015  4:34 pm  Show Profile   Bookmark this reply Add batboy to your friends list Get a Link to this Reply
Regarding the 1973 Ike dollars:


Quote:
After two years of high production for circulation, the 1973 Eisenhower dollar was produced in limited numbers for inclusion in collector sets only. As a result, the 1973 and 1973-D coins having the lowest mintage amongst the clad circulation strikes of the series.
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TheForce's Avatar
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 Posted 10/28/2015  4:48 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
So were 1974-1978 Ike's issued for circulation or just mint sets?
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Earle42's Avatar
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 Posted 10/28/2015  5:17 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Following is a list of all Ikes. The purple text below indicates coins released for circulation.

Eisenhower Dollars 1971-1978 Non-Proof

Description              Mintage

1971                     47,799,000
1971-D                   68,587,424
1971-S Silver             6,868,530

1972                     75,890,000
1972-D                   92,548,511
1972-S Silver             2,193,056

1973                      2,000,056
1973-D                    2,000,000
1973-S Silver             1,883,140

1974                     27,366,000
1974-D                   45,517,000
1974-S Silver             1,900,156

1976   Type 1             4,019,000
1976   Type 2           113,318,000
1976-D Type 1            21,048,710
1976-D Type 2            82,179,564
1976-S Silver            11,000,000

1977                     12,596,000
1977-D                   32,983,006
1978                     25,702,000 
1978-D                   33,102,890

 Eisenhower dollars 1971-1978 Proofs

Description              Mintage

1971-S Silver            4,265,234
1972-S Silver            1,811,631
1973-S Clad              2,760,339
1973-S Silver            1,013,646
1974-S Clad              2,612,568
1974-S Silver            1,306,579
1976-S Clad T1           6,995,180
1976-S Silver            4,000,000 est.
1977-S                   3,251,152
1978-S                   3,127,781


The UNC. 40% were ordered and received in blue packaging, hence referred to as Blue Ikes. The proof 40% were in brown packaging and therefore are called Brown Ikes.
How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
Edited by Earle42
10/28/2015 5:37 pm
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jbuck's Avatar
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 Posted 10/28/2015  5:26 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
As an everyday consumer, I have never been a big dollar coin fan-- and don't like the idea of eliminating the dollar bill...
If they did get rid of the dollar bill, I would use dollar coins...
Just pointing it out.

Get rid of the one dollar note. Even if people do not like the idea, they will adapt.
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Buymyemu's Avatar
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 Posted 10/28/2015  5:39 pm  Show Profile   Bookmark this reply Add Buymyemu to your friends list Get a Link to this Reply
So, I just counted. I have 12 $1 dollar bills in my pocket. Don't know why, but.. how the heck can I carry 12 $1 coins?
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Earle42's Avatar
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 Posted 10/28/2015  5:39 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Never has been a question of adapting. Pavlov's dog.
How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
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Buymyemu's Avatar
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 Posted 10/28/2015  5:41 pm  Show Profile   Bookmark this reply Add Buymyemu to your friends list Get a Link to this Reply
And, here is how much I know about $1 coins... do we currently mint one? What is the latest?
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crazyglue's Avatar
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 Posted 10/28/2015  5:41 pm  Show Profile   Bookmark this reply Add crazyglue to your friends list Get a Link to this Reply
jbuck you are absolutely right.

I am not a fan of it when thinking about it, but I would easily adapt and can even envision it in my head.

In fact, I spent several weeks at a time in Europe in the last few years (for work, not for vacation) and had 1 and 2 euro coins in my pocket and got used to it easily and it did not make me upset or sad to have the coins in my pocket.


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batboy's Avatar
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 Posted 10/28/2015  5:45 pm  Show Profile   Bookmark this reply Add batboy to your friends list Get a Link to this Reply
Two $1 coins are currently being minted, Sacagawea (or native American) and Presidental.
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Earle42's Avatar
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 Posted 10/28/2015  5:45 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
@Buymyemu
People who like the coin idea will say that you would not need to if you keep track of all the coins in your pocket and engineer it for each purchase so that you never have too have much weight in your pocket.

The thing is - this is totally unnecessary and, quite honestly, (trying to be nice here) its kind of ridiculous to have to worry about it. Who wants to?

The SBA failed somewhat due to the same type of thing. People thought it a ridiculous dea to have to worry about whether or not the "quarter" they felt in their hand/pocket was a "quarter" or not. It was an inconvenience that did not have to exist.

Sure, people COULD have used SBAs IF they were willing to check every time to see whether it was a quarter or SBA in their hand - but why? And again, most people don't look at their money anyway.

How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
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