new dollars

as a nut case coin collecor, what do you think about the new dollas, are they silver?

 

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The presidential dollar coins are supposed to be the same material as the Sacs, but use an anti-tarnishing compound that will be applied to the blank between annealing and being struck. We will see if this gives them a better, longer luster. This seems like another gimmick for the mint to sell more coins.

 

b.j:
Still, no one will use them , so who cares if they last longer.
In the future (100 years from now) there will be a population report of 99.9% of the mintage.
Yup, the mint'll sell more coins, and we'll have more collectors who think that coin collecting is just a scam.

 

But, in the very unlikely event that the anti-tarnish bit encourages more people to want Deadprez Dollars, their requests to their own banks will cause those banks to request them from their armored car services which will then have to order more from the Fed. :whistle:

 

They have to do something to MAKE people want to use these coins. I work on a cash register and I'll see a Sacagewea dollar like maybe once every 3 months. I remember when the Sacagewea dollars came out, they even made vending machines that took them. It seems like things like that only lasted a little while and then the Sacagewea dollar was forgot about by everyone except collectors and bank tellers.

They need to promote the coins more, make them less-collectible (so everyone and their dog doesn't have a hoard of them that they want to collect and NOT use like the dumb state quarters), they need to convince vending machine companies to accept them, and a whole lot of other stuff.

I think if they wanted to they could make the coins so that everyone wants to use them and spend them, but they won't if the only people they aim for are the collectors.

 

I have no interest in the new dollars as a collector. It's difficult for me to get interested in a particular series unless it's old or unless it's silver. The mint probably doesn't give much thought to collectors when desiging circulation coins. That's only what they do for commemorative and bullion coins. The big payoff for the mint would be to somehow unlock the secret of making people want to use dollar coins in commerce, and somehow they never seem to realize that the logical answer to this is to just stop printing paper $1 bills.

 

The anit-tarnish bit is a preservation scheme, in my opinion, not a gimmick. The majority of people will never know that there is anything different in that regard. The lettered edge however will be the biggest draw to the average person. Personally, I hope it's a success.

If the government was really looking for a gimmick to increase buying, use, and collecting of coins, they would drop the presidents from our current circulation coinage and return to a Miss Liberty motif with changes in design every 25 years.

 

I have seen people (non-collectors) receive Sacs in their change and comment about how they keep them all. I saw a cashier offer a guy 17 Sacs as change once... jokingly... the guy took them all, happily... mentioning that it's an easy way to save money. "They add up quick," he said. That's exactly it. People will keep them when they get them, even knowing that they're not going to be valuable collectibles. It's easy to throw them in a drawer and forget about them when there are so many bills floating around.

 

So they will have that same "gold" color?

 

yes they will be identical in color

 

We see a bunch of them because the Post Office vending machines and the Metropolitian Trasit Authority vending machines use them for change.

I think they are useful and if they got rid of the $1 banknote (and the cent and nickle), nobody would want to go back after a few months of adjustment to the new money.

Ruben
Ruben

 

should have a nice collection of uncirculated $1 coins before long

 

the pepsi machine at the job has no problem taking sac or sba but wont take ikes
i think most machines already take the newer dollar coins

 

Blech! I can't stand that color, it's made to look like fake gold. I don't mind real gold of course (who doesn't?) but I think a traditional silver look is a lot better than the dumb gold-mocking Sacagewea colors.

 

The only way to get people to use $1 coins is to elimnate the $1 bill so they have no choice. Take an example of when compact discs came out. I f you don't make lp's anymore you have to buy cd's. They didn't leave it to choice, just forced the change.

 

Problem with the silver color is that the size of the coin is too close to the size of a quarter. The "golden" (I see it as brassy) color is necessary to prevent the confusion... They would either have to take the size back up to the same size as the old silver dollars or change the color. There would be no chance for acceptance of Ike sized dollars these days and no need for it either since our money is not based on the value of its metal content. I don't mind the color of the coins... at least not before they've seen a couple of months of circulation. Then they just become ugly.

 

I agree with yur premise but m memory of the introduction of CDs is not being forced off of LP's.

Ruben

 

with the introduction of the cd's and dvd/dvr's a far superior products was available for the consumers as apposed to vhs and lp's in a lot of peoples opinion. From the "customers" prespective, is the $1 coin a better product?

 

the fed missed the point that the DVD was intentionally forced on the public because the DMCA cryptography. The VCR was artificially removed from the market by the MPAA.

Ruben

 

The introduction of the dollar coin and the removal of the cent and nickle will do just that and make everyone happy. People do not like having to reach into their wallet for a coffee
and a newspaper. And then there is the economic issue to the government. Its a mistake to view coinage as a product like clothing. People will ultimately accept whatever the government mints and puts into circulation. End the dollar, the penny and the nickle and save tax payers really money. In fact a $5 $10 and $20 coin isn't a bad idea either, especially in light of the terrible counterfiting problem with Hamas and Iran.


Ruben