Sunday, February 11, 2007

US to Release new one dollar coins

Base metal dollar coins have not had a history of success in the United States.

Since the demise of the silver dollar, both the old quarter-sized Susan B Anthony dollar and the recent Sacajawea Dollar met with very little sucess and even less common usage.

Since these base metal coins have no intrinsic value and are heavier and more cumbersome than dollar bills, they have not been well received or circulated.

Not letter past performance stop them, the Treasury is about to release a new series of dollar coins with portraits of the Presidents on them.

While I believe this will be a hit with collectors and may get the general public's interest much like the State Quarter series has done, I don't believe these will be accepted any better than the dollar coins that have gone before.

Short of removing the Dollar Bill from circulation as Canada did when they introduced the Loonie, The American public will not replace paper fiat money bills with metallic fiat money coins.

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