Why doesn't the US have a $1 coin still in production?

[Ladies Man]

Originally posted by: XZeroII

Originally posted by: Chompman

Originally posted by: HappyPuppy

Originally posted by: So

Originally posted by: bootymac
We have coins for $1 and $2 here in Canada. Our bills are multi coloured too 🙂

Two more reasons to crush Canada! Gay-colored-pretend money and continued use of a $2 denomination! 😛

What are you thinking? We in the U.S. also have a $2 bill. Just because you don't see it every day doesne't mean it is nonexistant.

It is no longer continued.

I have a 2002 $2 bill. I think it's 2002. It's > 2000. So they are still in production.

EDIT: I have two 1995's and one 2003 $2 bill.

Plenty of new $2 bills

 

[XZeroII]

Originally posted by: Ladies Man

Originally posted by: XZeroII

Originally posted by: Chompman

Originally posted by: HappyPuppy

Originally posted by: So

Originally posted by: bootymac
We have coins for $1 and $2 here in Canada. Our bills are multi coloured too 🙂

Two more reasons to crush Canada! Gay-colored-pretend money and continued use of a $2 denomination! 😛

What are you thinking? We in the U.S. also have a $2 bill. Just because you don't see it every day doesne't mean it is nonexistant.

It is no longer continued.

I have a 2002 $2 bill. I think it's 2002. It's > 2000. So they are still in production.

EDIT: I have two 1995's and one 2003 $2 bill.

Plenty of new $2 bills

Wow. Pay $19 for $8. Excellent deal!

 

[Ferocious]

This change machine at the lunchroom at work spits out dollar coins when you put in a $5 bill.

I got some laying around here and in my car.

I didn't realize they stopped making them!?

 

[FoBoT]

Originally posted by: Jehovah
My local post office stamp vending machine gives out changes in dollar coins . . ..

yes, the PO gives out the Sac $1 coins, the problem is i don't know if someone will hassle me if i try to use them elsewhere, so i just keep them until i buy stamps again and use them at the PO


wal-mart gave out some of them when they were first put into circulation

i like higher denomination coins

 

[DrPizza]

Originally posted by: AsianriceX
Well, it is cheaper to produce metal coins rather than paper bills. Coins have a lifespan of many years, whereas paper has an average lifespan of 3 months.

I think the only reason you don't see dollar coins being used more often is because people are too stupid and think that those dollar coins are "special" or "limited edition." This means that they'd rather hoard them thinking that they'll go up in value in a few years instead of circulating them.

That's exactly it: morons think they're going to be worth more than a dollar someday. And, they're right. I'd guess that in about 100 years, they'll be worth 5 or 6 dollars each. (of course, had they simply put the dollar into a banking account, it'd be worth far more than that)

 

[mugs]

Originally posted by: Chompman

Originally posted by: AsianriceX
Coins have a lifespan of many years, whereas paper has an average lifespan of 3 months.

Excatly why they do it more then likely.

This way we spend the money faster since it eventually is ruined faster.

Uh... that's just retarded. For one, who has a pile of cash sitting at home? Most people keep the majority of their money in a bank. And who thinks "oh man, I have to spend the money in my wallet quickly or it'll disintegrate in 3 months!" Stupid conspiracy theorists.

I don't think dollar coins will ever be popular until they grow some balls and discontinue the dollar bill (and pennies while they're at it). As long as dollar bills are the norm, no cashier will give dollar coins out as change, so they will never circulate.

 

[Chaotic42]

I hate those dollar coins. The vending machine at work takes 5s and gives those as change.

 

[pyonir]

I hate coins.

 

[TheShiz]

Originally posted by: Chaotic42
I hate those dollar coins. The vending machine at work takes 5s and gives those as change.

doesn't the vending machine take the dollar coins? just use them for that.

 

[hdeck]

because people weren't putting the coins in the circulation. most were hoarding them in coin collections and never using them.

 

[pyonir]

Originally posted by: hdeck
because people weren't putting the coins in the circulation. most were hoarding them in coin collections and never using them.

No one can have my precious!!!!

 

[randomlinh]

i hate coins. pennies and nickels should be banned.

 

[Chaotic42]

Originally posted by: TheShiz

Originally posted by: Chaotic42
I hate those dollar coins. The vending machine at work takes 5s and gives those as change.

doesn't the vending machine take the dollar coins? just use them for that.

Yes, but that machine is in another building. So if you have a $5 bill, walk over there and get something, you have to back over there every time you want something since the machines in our building don't take them.

It's not that big of a deal, I'd just rather have quarters.

I payed for a drink yesterday with a dollar coin and fifty-cent piece. The guy had to do a double take and just laughed. 🙂

 

[EULA]

There are several reasons they aren't minting a dollar coin anymore. The two I'm familiar with is that - 1. most cash registers arent outfitted to handle another coin, and 2. everyone hoarded the coins thinking they would become collectors items...

 

[vailr]

The U.S. Mint currently (2004) produces 3 different sizes of one dollar coins:
1. The Sacagawea Golden Dollar, made of copper & nickel. with a coating to make it appear "golden"; diameter of 26.5 mm.
2. The Silver American Eagle, which contains 1 ounce of 99.9% pure silver; diameter of 40.6 mm. These coins cannot be bought at banks, but only through certain designated bullion dealers. These are priced dependent on the "spot price" of silver, currently over $7.00 per ounce. These have a face value of $1.00.
3. Commemorative silver dollars, which have the same dimensions and metal content as the older "regular" silver dollars (last made in 1935); diameter of 38.1 mm. These contain .773 ounces of pure silver.
The current 2004 coins are:
A. The "2004 Thomas A. Edison Commemorative Silver Dollar"; can only be purchased at the U.S. Mint, for $33(uncirculated) to $37(proof). There's also a version that, for an extra $16.95, you get:

"This unique product contains an uncirculated Thomas Alva Edison commemorative Coin packaged in a fun and informative presentation case highlighting Edison's many
accomplishments. A lightbulb illuminates when the presentation case is opened. The product includes a coordinating sleeve and a Certificate of Authenticity. Maximum production: 25,000.

Price for this item is $49.95, which makes the funky new case worth $16.95.

B. The other 2004 commemorative silver dollar is the "2004 Lewis & Clark Bicentennial Silver Dollar".

Both of these (the "regular" and the "commemorative" silver dollar) coin types are 90% silver, and 10% copper.

 

[DrPizza]

Originally posted by: vailr
The U.S. Mint currently (2004) produces 3 different sizes of one dollar coins:
1. The Sacagawea Golden Dollar, made of copper & nickel. with a coating to make it appear "golden"; diameter of 26.5 mm.
2. The Silver American Eagle, which contains 1 ounce of 99.9% pure silver; diameter of 40.6 mm. These coins cannot be bought at banks, but only through certain designated bullion dealers. These are priced dependent on the "spot price" of silver, currently over $7.00 per ounce. These have a face value of $1.00.
3. Commemorative silver dollars, which have the same dimensions and metal content as the older "regular" silver dollars (last made in 1935); diameter of 38.1 mm. These contain .773 ounces of pure silver.
The current 2004 coins are:
A. The "2004 Thomas A. Edison Commemorative Silver Dollar"; can only be purchased at the U.S. Mint, for $33(uncirculated) to $37(proof). There's also a version that, for an extra $16.95, you get:

"This unique product contains an uncirculated Thomas Alva Edison commemorative Coin packaged in a fun and informative presentation case highlighting Edison's many
accomplishments. A lightbulb illuminates when the presentation case is opened. The product includes a coordinating sleeve and a Certificate of Authenticity. Maximum production: 25,000.

Price for this item is $49.95, which makes the funky new case worth $16.95.

B. The other 2004 commemorative silver dollar is the "2004 Lewis & Clark Bicentennial Silver Dollar".

Both of these (the "regular" and the "commemorative" silver dollar) coin types are 90% silver, and 10% copper.

So much for the people posting above that none are currently being minted.
🙂