Mr. Boffo
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|  #1 Posted on 16.2.07 1519.43 | Instant Rating: 5.12 | In an effort to bringing the collectible craze that was the "50 State Quarters" Program to a new denomination, Congress authorized the US Mint to start the "Presidential $1 Coin" Program, in which every year 4 different Presidents will be pictured on the front of the $1 Coin. This will run approximately 10 years, or until we run out of dead presidents. Federal law states that no living person can be put on any US money. The back of the $1 coin has also been changed to show the Statue of Liberty.
Note also that this does not mean the end of the Sacajawea dollar. The senators from North Dakota would only vote for this bill if language was inserted requiring that 1/4 of all dollar coins made continued to be Sacajawea dollars.
I see a couple problems with this:
1. No one cares about dollar coins. It's hard to collect money that you never see.
2. With how little most people see them, people are bound to be pretty surprised when they suddenly get a coin that has, say, Chester A. Arthur on it.
3. The first year just points out how ugly some of our presidents were.
I mean, seriously, John Adams looks like Ron Jeremy in that, and James Madison looks like the Phantom of the Opera.
Part of this congressional act (good to see Congress was spending its time doing important things) also called for changes to be made to the penny in 2009. The reverse will be changed (just in time for the bicentennial celebration of Lincoln's birth) to show 4 different scenes from Lincoln's life. After that, they will change the back of the coin *again*, this time to "bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country".
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| #2 Posted on 16.2.07 1626.00 | Instant Rating: 8.81 | Let's say it costs $.25 to make one of these. For each one that gets taken out of circulation, the US Treasury "makes" $.75.
This is brilliant  Someone can find the real numbers somewhere - but the point is that, like the quarters, this is a great way to make money for the US Govt. By getting citizens to trade $1 in money for $.25 in metal, they can fight inflation.
Every little bit helps.
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Ignorance is bliss for you, hell for me. | Mr. Boffo
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| #3 Posted on 16.2.07 1833.06 | Instant Rating: 5.12 | That's true. It's called Seignoirage. Wikipedia quotes the Congressional Budget Office as saying the 50 State Quarters program has earned the US Mint $4.6 billion through April 2005.
I question whether as many people will be interested in collecting these, however. There doesn't seem to be as much buzz (the coins came out yesterday, by the way) as there was for the State Quarters.
| Mr Heel II
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| #4 Posted on 16.2.07 2028.31 | Instant Rating: 6.13 | The new dollar coins have the distinction of being the first coins to move "IN GOD WE TRUST", "E PLURIBUS UNUM", the issue year, and the mint mark onto the side of the coins.
Last year, I decided to get a silver proof set because the quarters were of significance to me and I'd wondered how good the coins looked.
Well, they sort of hooked me. I quickly picked up the 2005 set while it was still available, and will probably get future sets.
You can also get shiny loonies!
(edited by Mr Heel II on 16.2.07 2033) | Zeruel
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| #5 Posted on 17.2.07 0743.40 | Instant Rating: 4.05 | Originally posted by Mr. Boffo
1. No one cares about dollar coins. It's hard to collect money that you never see.
The only way people will accept the coin is by taking away the one dollar bill. Then, everyone will complain that their pockets will be weighed down by all the dollar coins in it.
-- 2006 Time magazine Person of the Year --
| Gugs
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| #6 Posted on 17.2.07 1108.20 | Instant Rating: 4.96 | Originally posted by Zeruel
Originally posted by Mr. Boffo
1. No one cares about dollar coins. It's hard to collect money that you never see.
The only way people will accept the coin is by taking away the one dollar bill. Then, everyone will complain that their pockets will be weighed down by all the dollar coins in it.
The $1 bill won't be removed from circulation until the Mint comes up with a $1 coin that works in vending machines, laundromat changers, arcade games, etc.
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| #7 Posted on 17.2.07 1436.39 | Instant Rating: 5.14 | Originally posted by Mr. Boffo
This will run approximately 10 years, or until we run out of dead presidents. Federal law states that no living person can be put on any US money.
This means you're going to get your damn Reagan coin and please shut the fuck up about it. | Lexus
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| #8 Posted on 17.2.07 1506.58 | Instant Rating: 4.09 | Originally posted by Gugs
Originally posted by Zeruel
Originally posted by Mr. Boffo
1. No one cares about dollar coins. It's hard to collect money that you never see.
The only way people will accept the coin is by taking away the one dollar bill. Then, everyone will complain that their pockets will be weighed down by all the dollar coins in it.
The $1 bill won't be removed from circulation until the Mint comes up with a $1 coin that works in vending machines, laundromat changers, arcade games, etc.
You think that's hampering, ever try putting change in a stripper's g-string without getting yourself punted by a bouncer?
Hold nothing sacred and you'll never be dissapointed. Especially not this statement.
 | BigDaddyLoco
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| #9 Posted on 17.2.07 1815.23 | Instant Rating: 3.68 | Originally posted by OlFuzzyBastard
Originally posted by Mr. Boffo
This will run approximately 10 years, or until we run out of dead presidents. Federal law states that no living person can be put on any US money.
This means you're going to get your damn Reagan coin and please shut the fuck up about it.
I was just thinking that, and also wondering if that would be the most sought after coin.
I can't remember the last time I even came across a Sacajawea dollar.
They also better mix the jobber presidents in a little better.
Also one dollar coins do not fit well in stripper G-Strings.
| Zeruel
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| #10 Posted on 17.2.07 1824.41 | Instant Rating: 4.05 | Originally posted by BigDaddyLoco
Originally posted by OlFuzzyBastard
Originally posted by Mr. Boffo
This will run approximately 10 years, or until we run out of dead presidents. Federal law states that no living person can be put on any US money.
This means you're going to get your damn Reagan coin and please shut the fuck up about it.
I was just thinking that, and also wondering if that would be the most sought after coin.
I can't remember the last time I even came across a Sacajawea dollar.
They also better mix the jobber presidents in a little better.
Also one dollar coins do not fit well in stripper G-Strings.
In my few jobs as a register jockey, the registers I've had to use have five slots for coins. From left to right we ordered them as: coin rolls, quarters, dines, nickels, and pennys.
If I ever got a dollar coin, I'd throw it in with the paper dollars and then put it in with my bank deposit when I cleared my register for the night.
I'm sure that clerks won't know what to do with the coin if they had to deal with 50 in their register at any given time.
-- 2006 Time magazine Person of the Year --
| Whitebacon
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| #11 Posted on 17.2.07 1827.19 | Instant Rating: 6.33 | | I put rolled coins in the fifth slot for bills, and throw the half dollar/dollar coins in the fifth coin slot. large bills go underneath the drawer. | Spank E
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|  #12 Posted on 17.2.07 2118.20 | Instant Rating: 4.68 | Originally posted by Zeruel
The only way people will accept the coin is by taking away the one dollar bill. Then, everyone will complain that their pockets will be weighed down by all the dollar coins in it.
There were never any complaints on this side of the Atlantic when the pound note was abolished in favour of the coins. That being said, the dollar is so ridiculously weak at the moment, it probably won't matter either way...
 | Mr. Boffo
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| #13 Posted on 17.2.07 2141.41 | Instant Rating: 5.12 | Our cashiers use the 5 dollar bill slots as $1, $5, $10, $20, and Other (which has $50s, $100s, the odd $2, and checks), and the coin slots for Pennies, Nickles, Dimes, Quarters and Other (which has the odd Half Dollar and Dollar Coins we get, as well as the coin rolls).
| JST
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|  #14 Posted on 18.2.07 1533.03 | Instant Rating: 5.81 | Welcome to the club! My heavy-ass wallet has to contend with the dreaded toonie as well. Enjoy it while you can.
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