It may be a "trial balloon", but here in the NW Piedmont area of No. Carolina, the U.S. mint is running ads showing new gold colored (but certainly not actual gold) $1 dollar coins. The ad itself is pretty bizarre, with a George Washington faced driver having all kinds of fund with the new coins at toll booths and vending machines.

What's up with this? Perhaps they've re-struck the old Sue.B.Anthony dollars and added the gold color? Think the penny is doomed? Who'd want a pocket full of heavy dollar coins? Why make it gold color? Are there any vending machines currently setup to handle these new coins?

-- Al (triadguys@aol.com), March 14, 2000

Answers

Check it out:

#A HREF&http://www.usmint.gov/goldendollar/#GOLDCOIN#/A$

-- George Washington (MtVernon@Virginia.com), March 14, 2000.

Damn! Martha that didn't work. Think I'll go have a few beers with Mr. Jefferson.

-- George Washington (MtVernon@Virginia.com), March 14, 2000.

GOLDCOIN

-- kermit (colourmegreen@hotmail.com), March 14, 2000.

In New Zealand, we replaced our $1 and $2 notes with gold coloured coins about 10 years ago. The new coins are quite light weight and you do get used to them, but I still miss the old notes.

More recently our Reserve Bank has been phasing out the old paper notes and rep[lacing them with ones made of plasticized paper. They are much harder wearing, and more difficult to counterfeit.

-- Malcolm Taylor (taylorm@es.co.nz), March 14, 2000.

Yes the new coins are replacing the Susan B. Anthony coins. No the penny is not doomed. A pocket full of heavy coin is better than a pocket empty of coin, light heavy or otherwise, eh? [the new coins are not heavy at all. Go to your local bank and ask to see one. You may have to wait for the next shipment, late March]

I have no idea if vending machines can handle the coin or not. Since most take paper bills and give change, I would guess they will be updated to accept the new "goldies".

-- Fractal Reserve Banker (no@big.deal), March 14, 2000.

If the gold color doesn't fade or rub off, these new dollar coins might have a chance of succeeding where the Anthonys failed. One of the biggest criticisms of the Anthonys is that they are difficult to tell from a quarter.

I'm wondering how well received the new coins will be by merchants. It means that they will need yet another slot in their cash drawers.

Are any of you folks old enought to remember when coins were real money and had actual intrinsic value in the form of silver content? We used to call the new clad ones "Johnson Slugs". Next they took away the copper in pennies.

One thing that bothers me about having a dollar coin the size of a quarter is that it reminds one of the dollar's loss in purchaing power over the years. If I recall lately, isn't the dollar today worth about $0.10 of the 1970 dollar. Maybe they should have made the new ones the size of dimes.

On a side note, I always tell anyone who will listen that we must NEVER give up the penny, because it serves as an anchor point to keep the government from inflating further. If the penny ever goes, it won't be long before a nickel becomes the new penny (in purchasing power). Remember penny gumball machines? Don't see too many of them anymore!

-- Flash (flash@flash.hq), March 14, 2000.

I've seen the add here in PA too, Al.

Canada did the same as NZ, replacing the $1 and $2 notes with coins. It didn't take me long to get used to them (I have a residence in both PA and CAN.) The $1 are gold colored, and the $2 are a bit bigger in silver with gold center. Very easy to recognize, faster than the US greenbacks of any denomination IMO. But canada never had a problem with paper note recognition since they are in different colors for each. The benefit is the money saved to tax payers from longer circulation.

I rarely have more than 5 one dollars on me (or any other denomination), either in greenbacks or CAN coins, so the weight is no problem at all.

The machines in Canada didn't take long to get replaced.

I lighten my pockets by always throwing the pennies I get in change in donation boxes and/or "take a penny give a penny" trays, at merchant's counters.

-- Chris (!@#$@pond.com), March 14, 2000.

Ah, the American one peso coin is finally here.

Watch six and keep your...

-- eyes_open (best@wishes.2all), March 15, 2000.

At 88-1/2% copper, it really COULD replace the (old) copper penny!

Watch Out--they're preparing full speed for high inflation ahead!

-- Al (triadguys@aol.com), March 15, 2000.