There are some things that the people of the United States just won’t put up with, no matter how hard the government tries to push them on is.  One of those things is the idea of a dollar coin.  While Euro coins are very popular, here in the US, nobody wants to deal with them.  We carry around enough change; we don’t want more rattling coins in our pockets, yet the government just keeps churning out dollar coins by the billions.

Apparently, in 2007, the government launched the Presidential $1 Coin Program.  An attempt to spur the dollar coin market, the coins feature the features of every single US President, and are being released in chronological order.  However, Americans won’t use them, banks are hesitant to give them out, and retailers are unsure what to do with them, so over a billion dollars’ worth of coins sits, perfectly made but sadly unused, in federal warehouses.  A transition to dollar coins from paper dollars would save the government $700 million dollars in printing costs; the current stockpile of dollar coins could meet America’s $1 needs for 10 years.

“We have tried every major idea that we can come up with, with limited success,” US Mint Director Edmund Moy told a congressional panel last month.  “Americans are creatures of habit.  They are very used to using the bill.  They’re not used to using coins in regular retail transactions.”

Tags: dollar coins, US Mint making more dollar coins, dollar coin presidential series, Presidential

[tags]dollar coins, US Mint making more dollar coins, dollar coin presidential series, Presidential $1 Coin Program, coins people hate, unpopular coins, money, currency, Edmund Moy[/tags]

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