The dollar coin push -- an experiment by the mint

http://www.oregonlive.com/news/index..._of_dolla.html

The short version: Portland, Austin, Charlotte, and Grand Rapids will be
the targets of a mint experiment to stimulate dollar coin use.

I spend about $100 of these each month. Who knows? If this program
works, I might actually get one back!

--
Jim Seymour

"Jim Seymour" wrote in message
news:7t6rk.429$5C.4@trnddc02...
http://www.oregonlive.com/news/index..._of_dolla.html

The short version: Portland, Austin, Charlotte, and Grand Rapids will be
the targets of a mint experiment to stimulate dollar coin use.

I spend about $100 of these each month. Who knows? If this program
works, I might actually get one back!

--
Jim Seymour


I use the dollar coins often. In fact, I will pick
up about $100.00 Andrew Jackson coins this afternoon
from my Credit Union.

I "copy and pasted" the story below. The only way
this will really work nation-wide , is to simply
just stop issuing one-dollar demand notes. Other
countries have done that. The U.S. General Accounting
Office estimates that the U.S. Treasury would save
about $155.00 million dollars a a year by switching
over from one-dollar demand notes to one-dollar coins.



FROM:
http://www.oregonlive.com/news/index..._of_dolla.html

Portland to get flood of dollar
coins in U.S. Mint experiment

by Tara Ballenger, The Oregonian
Wednesday August 20, 2008, 5:40 PM

In the coming months, 1.4 million dollar coins
will flow into Portland -- one of four pilot
cities where the U.S. Mint is testing a campaign
to get people interested in using the coin -- a
notoriously hard sell in the past.

This time, the Mint is bringing retailers and
banks into the mix.

The effort will include television, radio and
magazine ads touting the coin as environmentally
friendly and a good way for the government to save
money by not having to print $1 bills so often,
said Mint Deputy Director Andrew Brunhart. We
talked with him today about the program.

Q: Why Portland?

A: "Portland has a reputation of being progressive
and willing to try something new," Brunhart said.

The city is known for its environmentalism, and a
big piece of the campaign is promoting the coins'
long life and recyclability, he said.

The other cities: Austin, Texas, Charlotte, N. C.,
and Grand Rapids, Mich.

Q: But what if even environmentalists don't want heavy
change clunking around in their pocketbooks?

A: "The coin dollar weighs a lot less than four
quarters," Brunhart said.

And, while the dollar bill has an average life of 21
months before it must be destroyed and replaced, the
$1 coin -- made of a mixture of copper, zinc, manganese
and nickel -- lasts at least 30 years and can be melted
down and recycled after that.

Q: Where are the coins available?

A: The coins will be available at some banks around town
next week, including Bank of America. Call first to check
to see if yours is getting them. The Mint also is working
with chain retailers and local store owners to promote
the coins' use. Representatives from the Mint are meeting
with cashiers and advising them to accept the coin as
normal currency and to give it as change instead of bills.

Q: Where are coins accepted?

A: The new presidential coin, like all the $1 coins
before it, will be accepted at retailers and restaurants.
It works on TriMet buses and at MAX stops, as well as in
the parking meters in downtown Portland.

Q: What's on the coin?

A: The coins feature the faces of presidents on the
"heads" side and the Statue of Liberty on the "tails"
side. The Mint released the first four presidential coins
in 2007 and will issue four new presidential coins each
year, in the order of their presidencies. This year, it's
James Monroe, John Quincy Adams, Andrew Jackson and
Martin Van Buren.

All of Portland's 1.4 million coins will be Andrew
Jackson.

Q: Where can I get more information?

A: Check out www.usmint.gov/mint_programs/$1coin/

-- Tara Ballenger:

.....

Jim Seymour wrote:

http://www.oregonlive.com/news/index..._of_dolla.html

The short version: Portland, Austin, Charlotte, and Grand Rapids will be
the targets of a mint experiment to stimulate dollar coin use.

I spend about $100 of these each month. Who knows? If this program
works, I might actually get one back!

This one won't work either. "An experiment by the Mint" -- and only the
Mint. It's the same old formula: hurl a few million at some PR firm;
run a few novelty distribution promos; do some pleading in the media;
play up collectibility. It's another dog and pony show, nothing with
any business appeal or sticking power. They did exactly the same thing
in 2000 with Sacagawea, and that coin was really cool.

The government is fighting with itself. Last time I checked, both
Congress as a whole and the US Treasury refused to declare dollar coins
preferred over dollar bills as official policy. They let the Mint have
a few million for PR to go play with, then they don't back it up with
policy. If the US Treasury can't say anything good about dollar coins,
why should the public care?

Regulations with teeth would do the trick. Contrary to many wags, you
don't need to withdraw the rag bug first. Just try mandatory percentage
of dollar coins with dollar bill supply, for both banks and retailers;
required availability at banks; require federal agencies to make change
with dollar coins by default; and enforce existing provisions of last
year's dollar coin act.

--Dave

"Jim Seymour" wrote in message news:7t6rk.429$5C.4@trnddc02...
http://www.oregonlive.com/news/index..._of_dolla.html

The short version: Portland, Austin, Charlotte, and Grand Rapids will be the
targets of a mint experiment to stimulate dollar coin use.

I spend about $100 of these each month. Who knows? If this program works, I might
actually get one back!

--
Jim Seymour

I like the new ability to order the dollars directly from the mint at face value,
with free shipping.

http://catalog.usmint.gov/webapp/wcs...category=16238



** Posted from http://www.teranews.com **

"Jim Menning" wrote in message
...


I like the new ability to order the dollars directly from the mint at face
value, with free shipping.

http://catalog.usmint.gov/webapp/wcs...category=16238


Me too! This is cool. I have $500 worth coming my way and I intend to
spend them all. In fact, I need to order some Old Hickory coins too before
those sell out.

On Aug 21, 10:34�am, Dave Allured wrote, in part:
...require federal agencies to make change with dollar coins by default...

That would be a great idea, but I have my doubts. It seems I'm one of
the very few in my little town that uses brass bucks. My local postal
guy says it messes up his books because the local banks will only take
rolled coin for deposit, and when I pay for anything with a brass
buck, he accepts it, but always asks if I have a rag, instead.
Otherwise he has to hang onto it until he gets $25 to roll and
deposit. I did say he COULD give it back as change rather than
hanging on to it. His claim is that no one wants them. I was going
to ask if he ever tried, but I knew it would be useless. He hates
them and doesn't want to be bothered with them.

I'm still with the majority here. The "use the coin" campaign is a
waste of money. Quit making rags and brass bucks will circulate
(preaching to the choir).

Father Jerry

Jerry Dennis wrote:
On Aug 21, 10:34�am, Dave Allured wrote, in part:
...require federal agencies to make change with dollar coins by default...

That would be a great idea, but I have my doubts. It seems I'm one of
the very few in my little town that uses brass bucks. My local postal
guy says it messes up his books because the local banks will only take
rolled coin for deposit, and when I pay for anything with a brass
buck, he accepts it, but always asks if I have a rag, instead.
Otherwise he has to hang onto it until he gets $25 to roll and
deposit. I did say he COULD give it back as change rather than
hanging on to it. His claim is that no one wants them. I was going
to ask if he ever tried, but I knew it would be useless. He hates
them and doesn't want to be bothered with them.

I'm still with the majority here. The "use the coin" campaign is a
waste of money. Quit making rags and brass bucks will circulate
(preaching to the choir).

Father Jerry

A bank requiring coins to be ROLLED for deposit? Most banks around here
prefer them loose because they have high-speed coin counting machines that
handle them - and because the roll-counting accuracy of many people is not
very good.

--
___________________________________________ ____ _______________
Regards, | |\ ____
| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
___________________________________________ | | | | | | _______________

On Aug 23, 1:13�pm, "Michael G. Koerner" wrote:
Jerry Dennis wrote:
On Aug 21, 10:34 am, Dave Allured wrote, in part:
...require federal agencies to make change with dollar coins by default...

That would be a great idea, but I have my doubts. �It seems I'm one of
the very few in my little town that uses brass bucks. �My local postal
guy says it messes up his books because the local banks will only take
rolled coin for deposit, and when I pay for anything with a brass
buck, he accepts it, but always asks if I have a rag, instead.
Otherwise he has to hang onto it until he gets $25 to roll and
deposit. �I did say he COULD give it back as change rather than
hanging on to it. �His claim is that no one wants them. �I was going
to ask if he ever tried, but I knew it would be useless. �He hates
them and doesn't want to be bothered with them.

I'm still with the majority here. �The "use the coin" campaign is a
waste of money. �Quit making rags and brass bucks will circulate
(preaching to the choir).

Father Jerry

A bank requiring coins to be ROLLED for deposit? �Most banks around here
prefer them loose because they have high-speed coin counting machines that
handle them - and because the roll-counting accuracy of many people is not
very good.

--
___________________________________________ �____ � � � � � � �_______________
Regards, � � � � � � � � � � � � � � � � � �| � �|\ � �____
� � � � � � � � � � � � � � � � � � � � � � �| � �| | �| � �|\
Michael G. Koerner � � � � � � � May they � | � �| | �| � �| | � rise again!
Appleton, Wisconsin USA � � � � � � � � � � | � �| | �| � �| |
___________________________________________ | � �| | �| � �| | _______________- Hide quoted text -

- Show quoted text -

We have a VERY small local bank. Until recently there were only two
branches, and both are within three blocks of each other. They
recently expanded and built a third branch in the next town over.

Jerry