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<p>[QUOTE=&quot;Conder101, post: 1292742, member: 66&quot;]This is true.</p><p><br /></p><p><br /></p><p>Which explains why the nickel is a complete failure today and they should have stuck with the tiny half dime.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p><br /></p><p>It failed because given a choice people would prefer to use paper.&nbsp; In order for the coin to succeed that choice has to be removed.</p><p><br /></p><p><br /></p><p>The only time a dollar coin freely circulated in this country was up until about 1850, and from 1794 to 1840 those dollar coins were spanish milled dollars because ours were undervalued during that period.&nbsp; After the weight reduction in 1840 they did circulated until 1850 when the rising value of silver with respect to gold made them worth more as metal than as money.&nbsp; During the 1840 to 1850 the dollar coins were preferred to paper because there was no federal paper, just banknotes of dubious value.&nbsp; Given a choice between a heavy silver coin and a paper note that might only be worth using as toilet paper they gladly took the coin.&nbsp; After 1850 the dollar coin was worth $1.04 in gold so every time you used one you lost 4%&nbsp; Naturally they didn&#039;t circulate.&nbsp; By the early 1870&#039;s the dollar coin could have circulated because the value of silver had fallen but by then there was a sound Federal paper currency that people felt they could trust .&nbsp; If the paper was accepted everywhere at par with the silver dollar why carry the heavy coin?&nbsp; That was the end of the dollar coin as a circulation coin.&nbsp; Almost all of the Morgan and Peace dollas were struck simply as backing for silver certificates and were never really intended to circulate.&nbsp; The Ikes never really circulated for the same reason as the 1870&#039;s dollars didn&#039;t, paper was more convenient.&nbsp; So the Dollar coin was not &quot;dropped&quot; 32 years ago, it was dropped 140 years ago when paper became more acceptable.&nbsp; Paper is still more acceptable so the only way to get the coin to circulate is to get rid of the paper.[/QUOTE]</p><p><br /></p>

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