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« Reader Profile: JM | Main | Giving 101: A Crash Course on Biblical Giving, Part 3 »

January 21, 2012


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The way congress authorized these coins was crazy, for each presidential coin, they still needed to mint the Sacajawea coin, and all coins had hugely high volume requirements.
They should have only minted the presidential coins as fast as people actually wanted them, and kept Sacajawea as "collector only" selling mint/proof/silver versions at a premium. Check out Planet money podcast issue 330.

I started ordering these a few years ago for the free air miles, but once I had accumulated some of them, I actually found them really useful. These were perfect for vending machines - much easier than dealing with those paper bill slots.

I've used up all of mine just before they restricted the program. I looked at the Mint's website and got some additional information:

for collectors you can buy a $25 roll for $39 plus S&H of $4.95. (Hence, 10 rolls with a $250 face value will cost ~$404.45 or $1.62 per coin)

for circulating business buyers, you can get $250 for face value plus a $12.50 S&H fee, no credit cards. (Each coin costs ~$1.05 each)

Has anyone tried buying moeny orders at the Post Office to get cash back? A 2% cash back would lower the cost to ~$1.03, which still might be reasonable when using the coins as gifts.

I prefer to not have coins in my pocket. So I would not use the dollar coins and would have paper. Once I get coins I put them in a . I roll them up and save the money for purchases.

I like having coins on hand for emergencies. I also have about $300 in small bills, nothing over a $20 for if we were to loose power you can purchase stuff at the local store with exact change.

Its too bad, cause the $1 coins would have been cheaper to make than the dollar bill. But I really don't see people really accepting a $1 coin unless we get rid of the $1 bill first. The only place I ever saw the $1 coin was in change from the vending machine at work. I've had 4-5 of them sitting in my desk drawer for a year or two.

They make great Tooth Fairy money!

Ugh, I can't stand the $1 gold coin. When I'm selling my art at conventions, I always get a couple people who pay for my wares in gold coins. They're heavy to carry, and I'm already carrying a ton of stuff to these conventions! I don't need any more awkward, loose, jingly weight. :/

I love dollar coins, but I haven't seen one in years. If not for this blog, I would think they were out of circulation.

@jim +1, this is the wrong solution. In addition to abolishing the dollar bill, we should do in the penny and nickel. Use the free space in the change drawer for $1 and $2 coins. Whenever I'm in Canada or the EU, I find it really useful to have coins that are actually worth something. Toss some in your pocket and go, no wallet required.

Here's a great video about the pointlessness of the penny:

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