Stamp machines have given out dollar coins (SBA's) for nearly ten years
now. The history behind that is the following:
Previously, all change over a dollar was given out in quarters. So if
you had 5 dollars worth of change, you'd get 20 quarters. So Post
Offices always had a big demand on quarters. Then in the early 90's,
some guy in the federal reserve noticed that there were stacks of Susan
B. Anthony coins just sitting there, since neither the public, nor the
banks demanded them. So, he figured, why not give them out as change in
Post Offices (since that was part of the original idea behind the coin's
production). So, dollar coins were distributed. Many public
transportation & few vending services followed this idea. After a few
years, around 1997, the supply of dollar coins was running out, since
either people kept them (thinking they were very rare), lost them, or
they simply wore out. So, continued production was needed. Then, they
figured if they are going to have to make a dollar coin, why not make one
to circulate regularly (after all, the US government wanted to do this
for decades, but failed (Eisenhower coins were too big & SBA's looked
like quarters). Since they saw Canada's "Loonie" was sucessful, they
copied Canada's idea, & make the coin gold colored (only shinier to make
it look more attractive [BTW, the Canadian's copied the US's SBA coin for
the size of their "$1 coin]). So, basically, golden dollars were made
for the machines, and perhaps in the future to replace the one dollar
bill.
>From what I heard, they are printing dollar bills to just replace the
worn out bills, but they making dollar coins to meet the demand for new
dollar bills. If this is true, then in a few decades dollar coins will
outnumber dollar bills, but for practical purposes, this isn't a real
plan. I have a feeling that in a couple of years, they will completely
phase out one dollar bills once knowledge of the dollar coin is more
apparent.
=Rick
On Wed, 21 Mar 2001 10:17:33 -0800 "Bill Potts" <[EMAIL PROTECTED]>
writes:
> Baron:
>
> The stamp vending machines at ALL Post Offices have given change in
> dollar
> coins for several years now. Apparently the USPS was able to get its
> hands
> on as many Susan B. Anthony dollars as it wanted. Now they're using
> the
> Sacagawea dollars.
>
> I'm not sure if anyone has specifically mentioned it yet, in this
> thread,
> but Canada had dollar coins (Loonies) and two-dollar bills in
> circulation
> together for several years prior to the introduction of the
> two-dollar coins
> (Toonies).
>
> Bill Potts, CMS
> San Jose, CA
> http://metric1.org [SI Navigator]
>
> > -----Original Message-----
> > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On
> > Behalf Of Carter, Baron
> > Sent: March 19, 2001 07:19
> > To: U.S. Metric Association
> > Subject: [USMA:11743] Re: US One Dollar Coin Use....
> >
> >
> > The stamp vending machines at my Post Office in Austin, TX give
> > change in $1
> > coins.
> >
> > Baron Carter
> >
> > -----Original Message-----
> > From: Adrian Jadic [mailto:[EMAIL PROTECTED]]
> > Sent: Monday, 19 March, 2001 09:21
> > To: U.S. Metric Association
> > Subject: [USMA:11712] Re: US One Dollar Coin Use....
> >
> >
> > Agreed the $1 bill has to be discontinued. If the Mint does not
> does not
> > establish a sunset date for the printing of $1 bill the switch
> will hardly
> > happen.
> >
> > I was not able to get my hands on $1 coins. I asked at banks,
> > Post offices.
> > Nothing..
> >
> > A.
> >
> > -----Original Message-----
> > From: kilopascal [mailto:[EMAIL PROTECTED]]
> > Sent: Sunday 18 March 2001 21:05
> > To: U.S. Metric Association
> > Subject: [USMA:11697] Re: US One Dollar Coin Use....
> >
> >
> > 2001-03-18
> >
> > Wrong! For it to be successful, the 1 $ paper bill must be
> removed from
> > circulation and no new ones printed. The present 2 $ bill can be
> used to
> > supplement the coin. A 2 $ coin will be the next logical step
> after the
> > population adjusts to the 2 $ bill in general circulation. As
> > long as the 1
> > $ bill continues to circulate, the 1 $ coin will remain in bank
> vaults and
> > piggy banks.
> >
> > Personally, I go every Saturday to the bank and request both 1 $
> > coins and 2
> > $ bills and spend only these. I doubt the stores and restaurants
> I give
> > them to recirculate them. But, at least many of the shops I go
> > to recognise
> > me from giving out the bills and know I frequent their businesses.
> As a
> > result, I sometimes get special deals and discounts. It works for
> me.
> >
> >
> > John
> >
> > Keiner ist hoffnungsloser versklavt als derjenige, der irrt�mlich
> glaubt
> > frei zu sein.
> >
> > There are none more hopelessly enslaved then those who falsely
> > believe they
> > are free!
> >
> >
> > ----- Original Message -----
> > From: "Brian J White" <[EMAIL PROTECTED]>
> > To: "U.S. Metric Association" <[EMAIL PROTECTED]>
> > Sent: Sunday, 2001-03-18 14:26
> > Subject: [USMA:11691] US One Dollar Coin Use....
> >
> >
> > > Anyone see this???
> > >
> > >
> > http://www.usmint.gov/pressroom/index.cfm?action=press_release&id=
> 179&formBo
> > ol=AND&formYear=ALL&group=1
> >
> >
> > I also feel that for the $1 coin to be really successful, we need
> to
> > supplement it with a $2 coin as well.
> >
>
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