US Mint ends production of one dollar coins

Awhile ago Last Tuesday, 13 December 2011, the U.S. Mint announced that production of one dollar coins is ending. The Mint will continue to produce a few one dollar coins for collectors, as required by law:

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

These coins will have numismatic value, and as such will cost far more than their $1.00 face value. Remaining circulating demand for $1 coins will be met with Federal Reserve stockpiles until they are depleted.

reverse face of 2010 Native American one dollar coin

$1 coin: Hiawatha belt bundles 5 arrows symbolizing 5 nations of the Iroquois Confederacy via US Mint 2010

Unwanted

The $1 coins would have saved hundreds of millions of dollars over time, as they are more durable than paper money.  Despite being a more sustainable, environmentally friendly alternative to paper currency, they were never popular with the American public: 40% of $1 coins were returned, unwanted, to the Federal Reserve each year.

My favorite $1 coin featured Sacagawea, guide to Lewis and Clark, the 2010 Native American. It is beautiful. Sacagawea is on the obverse side. The image above is the reverse side. (more…)

Published in: on June 21, 2020 at 8:10 am  Comments (6)  
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