2016-04-08 Fri

The U.S. Mint started minting a new series of $1 coins commemorating U.S. presidents in 2007. These coins never got a good response as the Sacagawea dollar was never minted and collectors are not really excited about owning these coins either. The surprising fact is that even then, the mint continues to release millions of these coins.

1.1 billion unusable $1 coins are stocked up by the government and $67 million has been spent over three years to promote this campaign. The American Eagle silver and gold coin series on the other hand, is very popular. Over 50 million silver dollars were minted last year and were sold out many times. Unfortunately, they are not seen around as they are generally kept in safe deposits.

Years ago, Britain replaced one pound note with the one pound coin which worked. The U.S may want to consider this intelligent move to replace the paper dollar bill with a dollar coin.