Pictured Left to Right - Andrew Johnson Presidential Dollar Coin (2011-P), Sacagawea Dollar Coin (2000-P), Susan B. Anthony Dollar Coin (1979-D), Susan B. Anthony Dollar Coin (1979-S)
I thought that I would share these coins with you. I got these as change (believe it or not) at the Windsor-Detroit Tunnel Border Crossing when I put my $10.00 bill into the feeder, it spat these out, with two more that I'm not saving, and thus will not be posting. To many of you, these are quite common, a little harder to find in circulation, but if you go to a bank and request a few, a roll or a box of these coins, they will usually have them on hand. I've always enjoyed receiving U.S. dollar coins in change, but to many fellow Americans, they cannot bear the thought of having an extra coin in their pocket. This is what has likely led to the demise of this coin as all production of the Presidential Dollar Series has come to a full halt, except for collector coins found in sets. It's quite sad to think that they stopped production of these coins when their use, durability and seigniorage is quite a cost-effective way to produce money. What can I say though, it's politics, and maybe a reason that adds to the indebtedness of the United States. It will either be a long time or a very very short time until the U.S. dollar note will be discontinued. Once the government begins to realize that producing dollar coins is more cost-effective than producing it's paper counterpart, then maybe the government will start to make sense of itself.
We don't really need to look at history to tell us that a dollar coin is more cost-effective than a paper note. All we have to do is look north to Canada where they put an end to producing costly paper $1 notes (and eventually the $2 note as well) and replaced it with a $1 coin. I'd rather have a pocket full (oh yeah, new catch phrase #pocketfull lol) of these dollar coins than a bill fold of paper. They're already accepted in most vending machines and they save quite a bit of money to tax payers. Its just a matter of time until we see the end of the dollar note and the beginning of a sensible America using coins. That being said, I do not want a $5 coin, that would be taking it a little too far!
Happy Friday!
Nice post! If you haven't already seen Man's post on the dollar coin subject you should. Here it is: http://coinedformoney.blogspot.com/2011/12/myth-of-dollar-coin.html
ReplyDeleteAbout the dime it is magnetic so I'm pretty sure it is nickel plated steel. I looked it up on Wikipedia and it says it should be nickel. Might it possibly be an error or a fake...?
Hey Dr. Math,
ReplyDeleteActually pure nickel is magnetic, and the 1995 Dime that is in your possession is made from pure nickel. So it's not an error, nor would it be a fake. The costs associated with making a fake dime (economical and penal), would far outweigh it's practical use. People in Canada treat the dime almost as a penny and don't really use them. On the other hand, they use the quarter, dollar (loonie) and the 2 dollar (toonie) quite often. A lot of coin roll hunters have been pulling the pure nickel coins out of circulation here in Canada (dimes, quarters and nickels), but usually that rule would only apply to nickels because the nickel content is worth more than the nickel itself.
As to Man's post, I will have to take a look at it! Great to see that we are all communicating together lol!
And THANKS!!!
Hmm. I didn't know pure nickel was magnetic. I guess you learn something new everyday! Thanks for the info!
ReplyDelete