US Mint ends production of one dollar coins

Last Tuesday, 13 December 2011, The U.S. Mint announced that current production of one dollar coins is ending. The Mint will continue to produce a few one dollar coins for collectors, as required by law. But these will have numismatic value, and cost more than $1.00.

instead of producing 70-80 million coins per president, the Mint will now only produce as many as collectors order.

US Mint one dollar coin

2010 Native American $1 Coin reverse

Forty percent of $1 coins were returned, unwanted, to the Federal Reserve Bank each year.

Circulating demand for $1 coins will be met through the Federal Reserve’s existing stockpile, which will be drawn down over time.

My favorite $1 coin featured Sacagawea, guide to Lewis & Clark. This is the 2010 Native American $1 coin, reverse side. It is beautiful. Click through for full details from the U.S. Mint.

Even though the $1 coins would have saved billions over time (they are more durable than paper money), they were never popular with the American public. Not all of the American public feels similarly. Those participating in this discussion on Reddit seemed saddened by the news. Others raised the point that the U.S. Mint remains committed to production of the penny. Despite my fondness for copper, and loyalty to the Arizona as The Copper State, one wonders at the sense of this. Both Canada and many European countries have already discontinued small denomination paper bank notes, and replaced them with larger denomination coins.

I liked $1 coins, as they were useful for buying commuter train tickets. I’ll miss them.

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Published in: on December 16, 2011 at 12:23 pm  Comments (6)  
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6 CommentsLeave a comment

  1. Hi Ellie,
    Have you considered using the More tag in your posts? It helps readers quickly scan the posts on your front page.

    I think it would be really helpful on your blog since you deal with such a wide range of topics. It also lets you know which posts readers actually click on to read more. If you’re interested, see my post regarding the MORE tag at http://itauditsecurity.wordpress.com/2010/03/15/more-tag/.

    Let me know what you think…

    • Thank you so much for your suggestion. I will definitely have a look at what you do with the MORE tag. I have a terrible time finding anything on my blog recently! The cause is exactly as you described: Too wide ranging an assortment of topics. And if I am having trouble finding things… well, that is hardly what I want my readers to contend with.

  2. Ellie,
    Glad you liked the suggestion. Based on your reply, here’s another: add the SEARCH box to the top of your blog. That way, you and your readers can find those elusive posts. The search box sure helps me.
    Wishing you the best,
    iAS

  3. Canada has also recently discontinued production of the penny.

    • I only wish that would happen here, too! So unwise to keep pennies but discontinue dollars (as coins).

      And thank you so much for visiting! It is nice to interact with Twitter friends outside of the Twitter-verse.

  4. I was surprised when I was in the US and often got 1 dollar coins as change from the bus ticket machines. I didn’t even know these coins existed! I wonder how we will get the change now, not in 1 USD bills, I suppose…


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