The U.S. Mint has unveiled the first designs for the new Presidential Dollar Coin program. The new coins will feel identitcal to the Sacagawea coins that begun production a few years ago.
For some reasons, the American public just doesn’t like dollar coins. Most vending machines won’t take them, and companies don’t want to retool their equipment to deal with them. Yet the Mint continues to come up with new programs to push the coins. They do last a lot longer in circulation than paper bills, so would save money in production if they were to catch on.
There are some things that make this coin unique:
* Some text inscription will be on the edge rather than the face.
* Rather than the word “Liberty,” which is found on other coins, the new $1 pieces feature a design of the Statue of Liberty.
The Mint is hoping that people will take to the presidential dollar coins the same way the public enjoyed the state quarters series. It seems to me that people just won’t use the coins enough to make the program worthwhile. There has been no success yet, and I don’t think any marketing will make the coins more useful in everyday life.
Updated May 18, 2007 and originally published November 22, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.