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Will Dollar Coins Ever Replace Dollar Bills?

Monday, July 4, 2011 - 7:10 AM
Do you prefer dollar coins over bills?

I remember all those Mint ads encouraging people to use dollar coins.

The Mint also encourages people to buy dollar coins with free shipping and no credit card fees. As you can see in this Fatwallet thread, most people buying coins this way are probably hoping to profit from credit card cash back.

All these efforts are not helping to increasing the use of dollar coins. As this NPR article describes, the coins are just piling up in vaults:
Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,249
1. Monday, July 4, 2011 - 9:27 AM
The minting of dollar denominated coins is just another boondoggle. The only place where real silver dollars used to be popular was in Nevada. Of course, in that decades-old era the coins were silver and the dollar bought something.  Today, who wants to carry a load of inherently worthless metal in their pockets or purses? Melt-down all those unwanted coins in the vaults right now and replace the space with silver and gold.
ShorebreakShorebreak2,625 posts since
Apr 6, 2010
Rep Points: 14,226