New Presidential $1 Coins are certainly a hit with many collectors, but their acceptance elsewhere since they were first introduced in 2007 has been slow.
Frightening slow… and very similar to previous failed attempts at thrusting dollar coins into the publics hands.
Like the Susan B. Anthony and Sacagawea golden dollars, Presidential $1 coins face a daunting and nearly impossible task of competing with the one dollar bill.
The first of the four Presidential $1 Coins this year will soon enter banks, stores and public transit systems. The James Monroe Presidential Dollar will be the first coin out of the gate starting on Feb. 14, 2008. However, in a ceremonial release one day prior, Monroe coins will be offered to the public in Ash Lawn-Highland.
Two weeks back CoinNews wrote an article on how the Presidential $1 Coin Act of 2005 stated that vending machines by 2008 must be able to dispense the new presidential dollars irrespective of the fact that many vending machines give back an amount that’s always less than $1.
Concerned about needless and extra costs, Coca Cola hired a lobbyist firm to help get the law amended so certain vending machines wouldn’t have to dispense dollar coins. Whether it was through their efforts or not, their desired changes appear to be coming.
H.R. 3703 had previously passed the House on 11/13 and yesterday, 12/17, the Senate passed it with Unanimous Consent. H.R. 3703 clarifies which machines need to dispense dollar coins.
The new Presidential $1 coins and the words "In God We Trust" are back in debate. A new legislative bill, S.2417, has been placed on the table and seeks changes to the motto’s placement.
Since the beginning of its mintage, the new dollar coin has faced extra scrutiny due solely to those powerful words, or lack of them. While a very small segment of the population would just as soon see the motto forever removed, most appreciate the significance of it appearing on coinage since the Civil War.
Then there are many who take issue with the new $1 coin’s design, believing the motto lacks prominence on its edge.
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