April 3, 1988 |
Encouraged by Canada's apparently successful movement toward replacing dollar bills with its new dollar coin, Congress is considering legislation that would create the Columbus commemorative dollar coin. The legislation in Congress is based on the premise that a dollar coin, designed to remain in service for 20 years or more, would save about $115 million a year. The chief supporters of the legislation are, predictably, representatives of the vending-machine industry, transit systems, metal producers and casino owners.
December 26, 1997 |
Circulating coinage hasn't changed much for a generation. The Susan B. Anthony dollar was introduced in 1979, but can scarcely be said to have circulated. The quarter was given a new reverse during the Bicentennial. Otherwise, dimes, nickels and cents have remained the same. That stability will make 1998 all the more interesting. The new year will see the appearance of the newly authorized dollar coin, a gold-looking, smooth-edged coin meant to replace the dollar bill. Under legislation approved late this year, quarters will appear with reverses designed to celebrate each of the 50 states and probably the District of Columbia and the island territories.
September 17, 1999 |
As the United States moves seriously toward replacing the dollar bill with a coin, Canada's experience offers new insights. Canada dropped its paper dollars in favor of the yellow metal "loon," the dollar coin bearing an image of the waterbird. The loon is distinctive enough to avoid confusion with other coins, and was accepted with little protest. The Royal Canadian Mint cited considerable savings in the use of a long-lived coin over paper currency, which frequently has to be replaced.
June 11, 1999 |
Metallurgists at the U.S. mint are working up to the deadline to develop the brass-colored alloy that will let the new Sacagawea dollar coin avoid user confusion and work in coin-operated vending machines. The design of the coin, to be put in circulation in 2000, depicts the Indian woman with her infant son, Jean-Baptiste, on her back. She guided the Lewis and Clark expedition to the Pacific Ocean in 1804-06. The Sacagawea design is by Glenna Goodacre of Santa Fe. The reverse, a soaring eagle with 17 stars, denoting the number of states at the time of the expedition, is by mint sculptor Thomas D. Rogers Sr. The new coin will be the same size as the Susan B. Anthony dollar, but will be yellow and will have a smooth edge and a wider rim. The Anthony dollar, issued in 1979, failed to gain widespread acceptance because it was easily mistaken for a quarter.
June 5, 1999 |
So now we womenfolk get another face on a dollar coin. I wonder how she'll fare? By early next year, the Shoshone guide Sacajawea's image will be in circulation, replacing the Susan B. Anthony coin, which debuted 20 years ago to near-unanimous hoots and howls. Sacajawea will have at least one advantage: Golden in color and smooth of rim, this coin will be harder to confuse with the quarter. Still, you wouldn't want to bet the farm on Sacajawea's success- and not just because Americans don't seem much taken with dollar coins.
June 29, 2000 |
They're shiny, golden-hued and slightly larger than a quarter. More than 700 million of them have reached the hands of Americans. But you'd almost never know it through daily transactions. The new Golden Dollar coin has done a great disappearing act since its release six months ago. Many folks have yet to see the smooth-edged coin bearing the image of Shoshone Indian translator Sacagawea, the guide who acted as interpreter for the Lewis and Clark expedition. Most folks who have gotten their hands on the coin aren't letting go. Instead of using them in everyday cash transactions, people are storing the coins away in jars or drawers at home.
April 24, 1995
As the U.S. dollar takes a beating against the yen and the Deutsche mark, it's under a different kind of attack in Washington. To save money, the familiar greenback may be replaced by a new $1 coin. Most average citizens oppose the idea of the nation's basic currency unit rattling around in their pockets, instead of folding into their wallets. So, predictably, do the companies and workers that produce paper dollars. But the dollar coin has one basic advantage that its detractors cannot refute: It would save money.
November 19, 1999 |
The nation's first "golden dollar" was struck at the U.S. Mint in Philadelphia yesterday amid hoopla, pomp, and promises that the coin would not be a flop like its predecessor. And this time the Mint is putting its money where its mouth is, with a massive public-relations campaign: $40 million worth of television and print advertising, and promotional gimmicks that include placing the dollars in - yes, it's true - boxes of Cheerios. The Mint hopes to ensure that the coin - depicting the young Native American woman who guided Lewis and Clark - does not meet the same fate as the misunderstood, roundly criticized (though not quite round)
February 16, 2001 |
Never having been offered a Sacagawea dollar in change, except from a train-ticket vending machine, I asked Federal Reserve Bank people about the coin's availability and acceptance. The bank's St. Louis branch has studied the situation, and concluded that the coin is used less than the Susan B. Anthony dollar was a year after its issue in 1979. That surprised me, because people talk about the new gold-colored dollar, and many have samples at home. Banks have them on their counters, and I see them in markets and stores such as Kmart and Kohl's.
December 5, 1989 |
There is a bill (House Bill 1068) that deserves universal backing, and this happens about once every 1,000 years. It is called the United States Coinage Reform Act of l989. And what it would do for us is to give us a beautiful metal dollar. WARNING! We must not, once again, endure the catastrophic experience of dear old Susan B. Anthony. When finally Congress and the Treasury Department issued a dollar coin in l979, everyone sat back, expecting the revolution to happen. The vending machine merchants invested millions of dollars to fit out their equipment to accept the new dollar.