Thursday, February 15, 2007

Washington inaugurates new dollar coin series

Washington inaugurates new dollar coin series

Dollar coins have gone clunk with the American public, but maybe that's about to change.

Today, the U.S. Mint is issuing a gold-color "Presidential Dollar" coin that it hopes will appeal to collectors and consumers, unlike the wallflower Sacagawea and Susan B. Anthony dollar coins.

Edmund Moy, director of the U.S. Mint, said the relentless pace of inflation means the time is ripe for a higher-denomination coin.

"A quarter doesn't buy a whole lot in a parking meter anymore," he said. "You've got to carry a sack of quarters around to plug that meter. Laundry, car washes are very coin-intensive services."

Weighing 8.1 grams, the same as the Sacagawea, a Presidential Dollar is lighter than four quarters, which weigh 5.5 grams each.

But Moy thinks a bigger plus for the new dollars is their novelty. He hopes they will, ahem, mint a new generation of amateur numismatists.

The Mint will issue the coins as a rotating limited-edition series, one for each president, following the order in which they served.

Presidents Day coins

The George Washington coin reaches banks today, in time for Presidents Day on Monday. Coins depicting John Adams, Thomas Jefferson and James Madison are due out later this year. Four additional presidents will be honored each year for a decade. Each president's coin will be minted only once, during a single 10-week period. Only presidents who have been dead at least two years will be depicted.

"This is based off a very, very successful program, which is the 50 State Quarter program," Moy said. "It is the most successful coin program the Mint has ever had. It generated 140 million people who are collecting these right now."

Stupid. Stupid. Stupied.

Oh, the government is concerned that dollar bills are wasteful compared to dollar coins? The whole fucking government is awash in waste and squander. At least coining money is in the Constitution, unlike most of the other shit they do. Oh, and we need this because of inflation? Well, why not stop inflating the currency then? The dollar has lost 99% of its value since the creation of the Federal Reserve Bank.

I don't use coins. Ever. I collect them and turn them in to the bank every few months. Now I won't be able to have any dollar bills, so I'll use up my currency much faster now. Super inconvenient. I won't have any dollars to buy things now, I'll have to get change for larger bills five fucking times a day.

The dollar coins have failed time and time again. People are going to COLLECT these coins, not use them!

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