The U.S. Mint recently announced they were going to try and yet again introduce a new $1 coin. We all remember the Sacagawea and the Susan B. Anthony coins. You remember the Susan B., the one that you accidentally gave away as a quarter every time. How about the the Sac? You know the coin that has been sitting in your coin jar for 3 years. I also like to play the game, “Who do I pawn this thing off on” using the old Sac. These coins were a success for the mint as everyone bought them but none of them are ever turned in. The problem is they not coins for general circulation and use. We need $1 coins and here are the keys I see to making this thing stick.
1. Make the coin completely different size than any other coin. You can’t make them the size of quarters but you can’t make them so large we can’t carry them in our pocket. The size has to be much bigger than a quarter but not quite as bit as a fitty cent piece.
2. Like the Sac, it has to be a completely different color. It has to be quickly identifiable.
3. Make them durable. They need to look as good in 10 years as they do today. If you want the coin to be a permanent part of the monetary system then make them long lasting.
4. Introduce a coin divider. Come up with a national marketing campaign where they give out this little piece of plastic that divides up one of the coin compartments in the sales drawers into to areas. One for one type of coin and one for the new dollar.
5. Make them cool. The new coins are nice looking but no different than the quarter. I guess I need to see them in person. The quarters are fun and hopefully they can keep the same “fun” with the new dollars. Make a $1 for every President (I believe they are, can’t wait for the Nixon dollar) . More people would at least learn more about our history.
6. Convince Wal-Mart give it out as change. If they do it so will America
7. Don’t charge any tax on any money spent to convert vending machines, parking meters, or anything that takes coins.
8. Have the government actually use it. When you go into the Mint and buy something, they never give you a Sacagawea or a Susan B in change. If they don’t use them then we certainly won’t
9. Somehow get Americans to get over this “I only use paper dollar” syndrome. The biggest reason it doesn’t work is we Americans, unlike Canadians, just seem to like our dollars in paper.
10. Have strippers only take $1 coins.