Is the Obama administration going to dump the Presidential Dollar?

http://www.coinsofamerica.com/blog/...ation-wrong-presidential-dollar-coin-program/

WASHINGTON, Dec. 13, 2011 /PRNewswire-USNewswire/ — The Dollar Coin Alliance, a coalition of small businesses, budget watchdogs, transit agencies and labor groups, today called on the Obama Administration to reverse course on its decision to suspend the Presidential $1 Coin program. While the Administration claims this action as a way to save taxpayer money, in fact, the opposite is true:

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This is news to me. Personally I think they should drop the paper dollar and the Sac Dollar then resume the Sac once the Presidential Program is completed.

 

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There are two separate issues here: discontinuing the paper dollar, and discontinuing the Presidential Dollar.

As long as the paper dollar is still in full production, cranking out Presidential Dollar coins and stacking them in warehouses is wasteful.

Discontinue the paper dollar. Then get all the warehoused dollar coins into circulation. Then​ make more Presidential Dollars.

 

http://dollarcoinalliance.org/

http://dollarcoinalliance.org/get-involved/

 

Trying not to make this thread political, but according to that website they act like the Dollar coin has been in existence since 1/1/2011. Not so. The Presidential Dollar was signed into law and started production in the Bush43 administration while the Sac Dollar was started during Clinton's.

 

I'm beginning to believe you are only here to promote the websites you seem to link to.

 

Um, isn't this old news and already posted about in at least 2 other threads?

 

I haven't posted here in like 3 months, so this is new to me.

 

I seldon re-type information that is already on the web since it can induce errors. I simply provide a link to the already existing information.

Many years ago I would ask people if they ever heard of "Google" but I decided that that was a bit rude.

 

But if we sat around and waited for you to give us the news, we'd be 3 months behind. Perhaps searching before posting would cut down on threads on the same topic.

 

http://www.cointalk.com/t196591/

http://www.cointalk.com/t196505/

 

• That gets my vote, that would save the most money!!

 

I find this line from the article to be very interesting.

So without the dollar coin program the mint, instead of paying money into the general fund, may instead have to be funded by taxpayers money to make up the losses.

But it does still generate profits for the general fund.

Discontinue the paper dollar and the other two will take care of themselves.

 

The paper dollar will never be discontinued.

The All-Seeing Eye on the Great Pyramid will see to that.

 

Darned if they do, darned if they don't!

 

When the congress & senate passed the law for the dollar coins I was thinking they that after a few years of producing millions all these coins nobody wants. The plan would be to eliminate the dollar bill and save money. But I gave them to much credit again. Seem like they can't plan for tomorrow.

 

I was fairly sure they wouldn't. After all they should have done that with the SBA's and didn't, and they should have done it with the Sac and didn't. They should have done it with the Presidents, but I didn't expect it to happen. I think they are getting closer though and I think it may happen with the next small dollar which I guess will be sometime between 2020 and 2029. By which time the dollar will have the purchasing power of today's cent and will be long past the time when IT should be retired.

 

Maybe its his website.

 

I'd Be sad, Yet happy if he did. Boohoo! WooHoo! :devil:

 

From what I understand of the arguement history just repeated itself. It's the SBA story all over again. Business and vending machine companies don't want to have to lug dollar coins around when they can have a fluffy stack of bills. BOO HOO. What will we do with the $1 slot on cashier draws. BOO HOO. The coins are too big to fit in vending machine slots. BOO HOO. The coins are too small (like the "quarter sized" SBA'S were) to be used effectively by us or the public. BOO HOO. It's government cow tailing to special interests, and big business. Face it they've gone the way of the SBA's and Kennedy halfs.

 

Actually, this goes further back in history than 79-81 and the SBAs.

Back when the Morgan dollars were released in 1878 they were shunned by the public, and were returned to banks for greenbacks. They were only really accepted widely in the western territories as they were popular in the gambling houses and saloons.

The U.S. Mint had stored hundreds of millions of Morgans from the late 1800s up until the early 60s when they offered them to the public at face value, requiring the purchaser to buy them by the bag.

Interesting history of the Morgan dollar in Q. David Bowers' A Guide Book of Morgan Silver Dollars.