22 Years Ago Today 2 2

[VKurtB]

22 years ago today just may have been the all-time high water mark for circulation of dollar coins in the U.S.

On January 1, 2000, every WalMart and Sam’s Club store started AGGRESSIVELY giving in change the new Sacajawea dollar coin. You could get a 1-dollar note in change ONLY BY REQUEST. 
 

The Mint had contracted with WalMart to jump start the circulation of the new dollar coin.

That worked out well, yes?

Edited January 1, 2022 by VKurtB

[Fenntucky Mike]

If they had eliminated the $1 note at the same time or latter that year.... would've gone a whole lot better. 

[Mohawk]

On 1/1/2022 at 4:53 PM, Fenntucky Mike said:

If they had eliminated the $1 note at the same time or latter that year.... would've gone a whole lot better. 

Absolutely. That's what Canada did with the Loonie.  After a 21-month period where both the Loonie and the Canadian $1 note circulated side by side, Canada withdrew the $1 note and, as a result, the Loonie was a resounding success.  It was so successful that the Toonie followed in 1996.  Now, the Loonie has actually become a beloved national symbol of Canada.  If the United States is ever going to get a dollar coin to actually work, the $1 FRN has to go.  And the U.S. has to quit making dollar coins that are destined to fail right out of the gate, such as the Eisenhower Dollar and the Susan B. Anthony Dollar.  A successful American dollar coin should look to the Loonie as a model.....the yellow color of the aureate-brass clad steel Loonie holds up much better than that of the manganese brass clad copper American dollar coins and the Loonie has a different edge than any other coins that currently circulate in Canada.  There's no mistaking a Loonie for a quarter or half dollar.  The Loonie also has a aesthetically pleasing design, which cannot be said of any base metal dollar coin ever put out by the United States aside from the Sacagawea.  The Eisenhower Dollar and the Presidential Dollars are all criminally hideous and the Anthony Dollar is only very slightly better, IMHO.  With some retooling of vending machines, a Sacagawea Dollar with a different edge and composed of aureate-brass plated copper or steel could be successful, provided that the $1 FRN is finally put down.

Edited January 1, 2022 by Mohawk

[Fenntucky Mike]

On 1/1/2022 at 4:59 PM, Mohawk said:

Absolutely. That's what Canada did with the Loonie.  After a 21-month period where both the Loonie and the Canadian $1 note circulated side by side, Canada withdrew the $1 note and, as a result, the Loonie was a resounding success.  It was so successful that the Toonie followed in 1996.  Now, the Loonie has actually become a beloved national symbol of Canada.  If the United States is ever going to get a dollar coin to actually work, the $1 FRN has to go.  And the U.S. has to quit making dollar coins that are destined to fail right out of the gate, such as the Eisenhower Dollar and the Susan B. Anthony Dollar.  A successful American dollar coin should look to the Loonie as a model.....the yellow color of the aureate-brass clad steel Loonie holds up much better than that of the manganese brass clad copper American dollar coins and the Loonie has a different edge than any other coins that currently circulate in Canada.  There's no mistaking a Loonie for a quarter or half dollar.  The Loonie also has a aesthetically pleasing design, which cannot be said of any base metal dollar coin ever put out by the United States aside from the Sacagawea.  The Eisenhower Dollar and the Presidential Dollars are all criminally hideous and the Anthony Dollar is only very slightly better, IMHO.  With some retooling of vending machines, a Sacagawea Dollar with a different edge and composed of aureate-brass plated copper or steel could be successful, provided that the $1 FRN is finally put down.

All countries that I collect have eliminated the lower denomination banknotes and replaced them with coins, I assume most countries have done this. Britain eliminated the 1 Pound note in 1988! Aesthetics aside, as that would be moot if the FRN $1 was eliminated, I agree 100% in that if the U.S. wants people to embrace a $1 coin then the banknote of the same denomination needs to be removed from circulation. As far as the vending machine argument, pfft. 

I like the idea of a never/seldom changing coin design, that would make it easier for people to embrace and identify, but that's not how it goes in many countries. Typically several designs a year is the norm, not sure if Canada is like that.

[Mohawk]

On 1/1/2022 at 5:26 PM, Fenntucky Mike said:

All countries that I collect have eliminated the lower denomination banknotes and replaced them with coins, I assume most countries have done this. Britain eliminated the 1 Pound note in 1988! Aesthetics aside, as that would be moot if the FRN $1 was eliminated, I agree 100% in that if the U.S. wants people to embrace a $1 coin then the banknote of the same denomination needs to be removed from circulation. As far as the vending machine argument, pfft. 

I like the idea of a never/seldom changing coin design, that would make it easier for people to embrace and identify, but that's not how it goes in many countries. Typically several designs a year is the norm, not sure if Canada is like that.

Canada has done some circulating commemorative Loonies, but most of the Loonies with different designs are sold in collectors' sets and rolls.  There have been 21 circulating commemorative Loonies, but nothing like the insanity of the State Quarters, ATB Quarters and the Presidential Dollars, though, to be fair, Canada has unleashed some quarter related craziness into circulation in 1992, 1999 and 2000, but still not on the scale of what the U.S. has done.  You typically have to pay the RCM to obtain that kind of craziness.  And you're correct about many nations eliminating the lowest denomination banknote and replacing it with a coin.....Great Britain, as you said, has.  But Australia, New Zealand and Japan have done so as well.  The United States should eliminate the $1 FRN, but I'm not holding my breath.  The U.S. can't even get rid of the damned cent!

Edited January 1, 2022 by Mohawk

[Henri Charriere]

FWIW, to my knowledge, the New York Transit System is notable for its use of small dollar coins in their MetroCard vending machines.  I do not know if this policy, in force for the past [at least] twenty years shall continue when card use is discontinued with the advent of Tap and Go.

[GoldFinger1969]

On 1/1/2022 at 6:54 PM, Quintus Arrius said:

FWIW, to my knowledge, the New York Transit System is notable for its use of small dollar coins in their MetroCard vending machines.  I do not know if this policy, in force for the past [at least] twenty years shall continue when card use is discontinued with the advent of Tap and Go.

Yup, I used to get dozens of those when I bought my MetroCrads when I worked in NYC in 1997-2000 and 2007-09. 

[Henri Charriere]

On 1/1/2022 at 6:59 PM, GoldFinger1969 said:

Yup, I used to get dozens of those when I bought my MetroCrads when I worked in NYC in 1997-2000 and 2007-09. 

Personally, I miss the tokens. (They'd been around since 1953 in varying sizes with each fare increase.)  

[Hoghead515]

I remember that. Almost my whole Sac dollar collection came from trips to Wal Mart. I saved everyone I got from there. 

[Henri Charriere]

On 1/1/2022 at 4:59 PM, Mohawk said:

Absolutely. That's what Canada did with the Loonie.  After a 21-month period where both the Loonie and the Canadian $1 note circulated side by side, Canada withdrew the $1 note and, as a result, the Loonie was a resounding success.  It was so successful that the Toonie followed in 1996.  Now, the Loonie has actually become a beloved national symbol of Canada.... The Eisenhower Dollar and the Presidential Dollars are all criminally hideous and the Anthony Dollar is only very slightly better, IMHO. 

  Truer words have never been spoken!

[gmarguli]

I don't know about other areas, but in Los Angeles they still circulate. Just 3 years ago I received a $1 coin in change. It was given to me as a quarter. I think it is still in my change jar. 

[Zebo]

On 1/1/2022 at 10:11 PM, Quintus Arrius said:

Personally, I miss the tokens. (They'd been around since 1953 in varying sizes with each fare increase.)  

I have a few of the tokens somewhere around here. Haven’t thought about them in a while.

[Conder101]

On 1/1/2022 at 3:17 PM, VKurtB said:

That worked out well, yes?

It might have if they had continued it.  The promotion only lasted a month.  But during that month Walmart distributed nearly 100 million dollar coins.  It took the Fed almost 2 years to distribute that many after the promotion ended.

And it definitely would have worked if the dollar note had been discontinued at the same time.

On 1/1/2022 at 4:59 PM, Mohawk said:

A successful American dollar coin should look to the Loonie as a model.

Canada used the SBA as their model for the Loonie.  They looked at all the reasons the SBA failed and did the opposite.

On 1/1/2022 at 5:26 PM, Fenntucky Mike said:

All countries that I collect have eliminated the lower denomination banknotes and replaced them with coins, I assume most countries have done this.

They all did.  The only country that didn't was the US, and it is the only country where the coin has failed.

On 1/1/2022 at 4:59 PM, Mohawk said:

After a 21-month period where both the Loonie and the Canadian $1 note circulated side by side, Canada withdrew the $1 note and, as a result, the Loonie was a resounding success. 

But during that 21 month period the Loonie was a failure.  It didn't become widely used and successful until after the $1 note was withdrawn.  They learned their lesson and withdrew the $2 not at just about the same time as the introduction of the twoonie.

[Coinbuf]

On 1/1/2022 at 2:59 PM, Mohawk said:

With some retooling of vending machines, a Sacagawea Dollar with a different edge and composed of aureate-brass plated copper or steel could be successful, provided that the $1 FRN is finally put down.

No need to retool, all my vending machines (I own over 60) all will accept SBA, Sacs, and the newer pres dollars.   While I do not see them use with great frequency I do see them.   The real issue for vending operators like myself is they suck to dispose of as banks like BofA dislike and discourage receiving change anymore.

[Conder101]

Yes but if they changed the composition to aurate-brass plated, or steel (as Mohawk suggested) they would need "retooling" wouldn't they?  I agree that if the dollar note was discontinued they wouldn't need retooling to accept  the current dollar coins.  I don't think any vending machine made in the past 20 years doesn't have the capability to accept the dollar coins.

Edited January 4, 2022 by Conder101

[Henri Charriere]

I don't know about you guys but I find it awfully annoying to feed up to twenty quarters in each machine in laundromats when a simple dollar coin -  presumably developed to tackle the problems of dollar bills which have a service length of only 18 months, or so, was introduced to solve those problems

Now, it's too late  Many laundries have turned to using plastic cards which can be re-filled as needed and toll booths have gravitated to E-Z passes.

[VKurtB]

On 1/4/2022 at 12:10 PM, Conder101 said:

Yes but if they changed the composition to aurate-brass plated, or steel (as Mohawk suggested) they would need "retooling" wouldn't they?  I agree that if the dollar note was discontinued they wouldn't need retooling to accept  the current dollar coins.  I don't think any vending machine made in the past 20 years doesn't have the capability to accept the dollar coins.

Correct. They all take them. Goodman Vending of Reading, PA was the contractor the Mint worked with to make sure ALL small dollars worked with modern machines, both SBA and golden colored. 

Edited January 17, 2022 by VKurtB

[tj96]

Not sure how many of you guys are CRH's. I find it relaxing in between my main collecting priorities.  I was searching boxes of quarters looking for W's for a long time.  But since the coin shortage of nickels, dime and quarters, those resources have dried up. 

A friend got me turned-on to the dollar coins, Sac's & Presidential.  No matter how criminally hideous they may look (Mohawk! ), they are beautiful coins if you're looking for varieties.  I'm here to tell you gents, they're out there.  My main ulterior motive for coming here to your forum was VP.

If you want dollar coins, they are out there.  Banks don't want them and you can order as many as you want.   I guess it just depends on what your interest is.