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July 26, 2011

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Based on the notice from the Mint that is linked to in the post, it does not appear that the program has been eliminated. The notice states that you can still order the coins by check, wire transfer, or money order. Perhaps your "RIP" is premature?

Andy --

You are correct. I meant that the ability to purchase via credit card (and even debit card!) and have them shipped to you free has been eliminated. Is anyone really going to order by check, wire transfer, or money order? Not in my opinion...

The sheer logistics of receiving and depositing 100,000 $1 coins are a bit mind-boggling. Never mind the paperwork that you have to fill out at your bank for depositing more than $10,000 in cash in one transaction. The fact that someone would go through that for the benefit of $2,000 worth of credit card rewards is just a little bit nutty to me.

I'm glad the US government finally got their scapegoat for the failure of this program/venture. I know the politicians who lobbied for this failure must be ecstatic. The coins were just not popular with the general public. Even those of us that did circulate them properly weren't REALLY helping because you know what? The vendor just deposited them right back to their bank later that week. They dare not give them out as change to customers.

This thing was destined to fail from the beginning and is just a testament to the brains of those running our country...

Can you still get the coins directly from a bank and pay for them with a credit card? Has anybody tried? I know my bank has carried them in the past, but I don't know if you can use a cc to buy them.

Even the Congressman who first suggested putting each President on one of them admitted that it was a big failure. I like the Sacagawea coins and gave those out to kids in the neighborhood. But all the variations recently have diluted the uniqueness of the golden $1 coins.

The federal government (not the Mint, they've no control) can solve this problem very easily.

Stop printing $1 bills. Just stop it. Then, release those $1 coins into circulation.

Yes, people will kick and scream. But eventually, they'll shut up and use the $1 coins.

Too bad I never used the program while I had a chance ;)

Frankly, I'm glad the program died, for the most part at least. It was such a waste of money to ship boxes of metal (FOR FREE) to people's homes. It's never any surprise that the gov't is broke.

Sometimes I think I'm on a different planet.

Yes, these get used all the time, by folks who are still using cash. The MTA, PATH and NJT ticket machines all dispense dollar coins as change.

I do have a few complaints about the coins -- they ought to be smaller, like Euros and also be issued in $2 denomination.

When I lived in Europe a few years ago, it was common to have $5-10 worth of change in your pocket between 1 and 2 Euro coins. So I disagree with the carrying around $10 comment. Europeans have had large denomination coins going back years before the Euro and are used to this system. I think it is largely psycoloical on the USA's part for large denomination coins. Size and design of the coins has also been an issue. 1 and 2 Euro coins are larger and distinctly different than the smaller change (they appear as gold and silver two-tone where the smaller change appears all gold). I do agree with Josh that larger denomination will only ever be a curiosity as long as paper money of the same denomination exists. But in the end cash is slowly going away with the move to debit card economy. So all this debate over coin versus paper will, in the end, be moot.

Hopefully they will just eliminate $1 bills, then these will take off. I don't know why we have such a small bill... its a waste of money. Bills don't last very long - take a look at the dates of the coins you have - and how old they are - compared with the bills!

According to the order form (http://www.usmint.gov/downloads/directship/orderForm.pdf), you still get free shipping if you order by check. Of course, you have to pay for the stamp/envelope to send the order form in. Why they can't just accept an EFT through their website is beyond me...

I lived in Canada for a while and got very used to the idea of carrying around $1 & $2 coins. No big deal really.

Paper dollar bills are a huge waste of money but the day the US switches to a $1 coin (of $2 coin) is the day they decide to stop printing a paper $1 bill. Having the two options in circulation at the same time doesn't really make much sense anyway.

While the Fed is at it they can eliminate the penny too.

I had ordered these coins several times from the Mint, maybe $250 worth every 6-9 mos. And yes, I learned about them hear on FMF. I did use them for payment. Mostly at work for the vending machines to buy a Coke (ours take dollar coins), to pay my colleague at work the $3-4 a month for my Water Club dues, to pay my share of lottery tickets my colleagues purchase as a group (I know probably a waste of money, but I count the $2 a week spent as socializing costs and it give us something bigger to hope for), to pay the occasional parking fees at a garage for the day which ranges from $6-8 bucks and they don't take credit cards. I also keep a stash at home as part of my emergency cash in case of financial armageddon (that day might happen next week!) when I might need a lot of cash and some of it in small denominations. I will probably order more in the future even if I have to use a check (not a big deal). I wonder if they still offer free shipping?

Oh, I see the free shipping question has already been addressed by another commenter.

I also thought at one point the USPS stamp machines used the dollar coins. I have not bought stamps in a while (I have a hoard of Forever first class stamps that have already appreciated 3 cents in value from when I bought them) but the last time I did use a machine, I got change in dollar coins.

While it is accepted that the coins had a useful life of 20 or more years vs. the dollar bills average life is only 1.5 years, try and put 10 rolls of $1 dollar coins in your purse or your pocket to carry all day, or 5 $20.00 dollar bills.

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