U.S. To Try Again With Dollar Coins

The United States introduced its first dollar coin in 1979 with a likeness of Susan B. Anthony. It tried again in 2000, this time with the likeness of Sacajawea. Both were popular with collectors, but not with the American public.

But the U.S. Mint is nothing if not persistent. Today they are unveiling a third incarnation of the dollar coin. They hope this time the American public will like the coin and begin to use it in their everyday lives.

This time they are taking their inspiration from the "50-state quarter", which was extremely popular with the public. But instead of the states, the new dollar coin will feature the presidents. The 2007 coins will feature George Washington, John Adams, Thomas Jefferson, and James Madison. A new four presidents will be featured each year, in order of their presidency. The flip side of the coin will show the Statue of Liberty.

Why are they so insistent on producing a dollar coin? The primary reason is to save money. A dollar coin will last many years longer than a dollar bill. It is estimated that the government could save $500 million per year if it did away with the dollar bill and went exclusively with the coin.

But the paper bill will also continue to be made. Until the public accepts and starts using the coin in everyday transactions, the government will produce both the coin and the bill. Of course, it is hoped that the coin will eventually replace the bill.

I'm ready for it. A dollar is nothing more than pocket change nowdays anyway.