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V16 2013 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 16, Number 50, December 8, 2013, Article 19

THE UNWANTED, UNLOVED U.S. DOLLAR COIN

While the dollar may be Almighty today, the coins themselves are not always wanted. Nick Graver emailed me about an article in a Rochester newspaper about the low demand for dollar coins. I found a more complete version of the article online at CNN. Here's an excerpt. The online version includes a nice slide show of U.S. dollar coins from 1794 to 2007. -Editor

Three sisters dollar To all the great mysteries of life, add this: Why is the lowly, tarnished penny so revered, and the shiny $1 coin so reviled?

Pennies proliferate. They fill our pockets. Our jars runneth over.

When we drop a penny, we conduct the ultimate cost-benefit analysis: Should I pick it up? Consequently, pennies are everywhere.

But where are your Sacagaweas? And where are all those John Quincy Adams presidential coins?

The answer: in the inventory of the nation's Federal Reserve Banks.

The Federal Reserve Banks hold about $1.4 billion in $1 coins -- enough to meet the demand for the next 40 years.

In fact, far more than half of all $1 coins ever minted are in government vaults.

To read the complete article, see: $1 coins: Unwanted, unloved and out of currency (www.cnn.com/2013/11/28/us/one-dollar-coins/)

Wayne Homren, Editor

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