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Dollar Coin

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OPINION
October 14, 2011
A dollar bill, as we all know too well, is a fleeting thing. Not just because it leaves our hands so much more easily than it returns but because, as it changes hands, it wears out within about three years, and often sooner. A coin's life span, by contrast, averages 30 years. That's why several members of Congress are suggesting phasing out the dollar bill entirely and replacing it with a coin. The production savings could add up to $5.5 billion over those three decades, proponents say. Coins are bulkier, but at least vending machines wouldn't spit them back out at us for having untidy corners or a crease here or there.
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BUSINESS
January 12, 2013 | By Don Lee
WASHINGTON -- The trillion-dollar coin isn't going to save the day. The U.S. Treasury says it won't mint the coin as a way of escaping the debt-ceiling crisis. The Federal Reserve also nixed the plan. Even though the platinum coin idea started as something of a joke, it caught on in the blogosphere and gained some notable supporters such as Nobel Prize-winning economist Paul Krugman. The plan envisioned the administration minting a platinum coin, then depositing it at the Fed to draw the trillion bucks to pay government bills should Congress fail to raise the debt ceiling.
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CALIFORNIA | LOCAL
April 14, 1993
It's about time somebody suggested that the government issue a dollar coin again, the disaster of the Susan B. Anthony dollar notwithstanding (March 22). Every time I need a king's ransom worth of quarters for everything from the parking meter to the washing machine, I wish I were in England. Those heavy but convenient one-pound coins practically made the climate bearable. If the British can constantly redesign their currency, then we ought to be able to use some of our Yankee ingenuity to figure out a way to recycle all those old dollar coins languishing in warehouses.
OPINION
April 6, 2012 | By Michael Kinsley
The busiest subway stop in downtown Washington was until recently festooned with green banners and billboards warning of a terrible danger. One of America's great national symbols is under attack: the one-dollar bill. A few unpatriotic senators want to phase out the dollar bill and replace it with a dollar coin. Several previous attempts to do this have foundered on people's fondness for paper money. In the subway ad campaign, riders are importuned to sign an online petition and go to a website for more information, which of course I did, since I always follow orders from billboards.
BUSINESS
June 10, 1998 | Associated Press
Sacajawea, or at least the spirit of the Native American guide, was picked by a federal advisory panel to replace Susan B. Anthony in Americans' pockets. The panel voted 6 to 1 to recommend to Treasury Secretary Robert E. Rubin that the new dollar coin bear the image of "Liberty, represented by a Native American woman, inspired by Sacajawea and other Native American women."
NEWS
May 25, 2000 | BOOTH MOORE
In March, the U.S. Mint introduced its new Sacajawea Golden Dollar with a series of ads featuring a studly, modern-day George Washington. George, an animated coin face on a real actor's body, pays for a bunch of stuff with the new dollar coin, which has been enlarged to saucer-size for the TV audience. "It's money," he explains coolly in the spot. Well, it looks like the swingin' Georgie ads (which have nothing to do with Sacajawea, but that's another story) may have worked too well.
NEWS
December 7, 1998 | From Times Wire Reports
Sacajawea, the Shoshone teenager who accompanied explorers Meriwether Lewis and William Clark to the Pacific Ocean almost two centuries ago, gazes serenely from a proposed design for the new dollar coin. The design is among six finalists for the gold-colored coin that Americans will find in their pockets starting in 2000.
NEWS
July 30, 1998 | From Associated Press
The face on the new dollar coin will be that of Liberty, but with features "inspired by Sacajawea," the famous Indian guide, the Treasury Department said Wednesday. The choice won praise for widely differing reasons, but Rep. Michael N. Castle (R-Del.) said he will fight it in favor of the Statue of Liberty, which he called "the greatest and most recognizable symbol of freedom worldwide." He has introduced a bill that would overturn Treasury Secretary Robert E.
NEWS
March 23, 1993 | WILLIAM J. EATON, TIMES STAFF WRITER
Once Congress sets its sights on saving money, there is no telling where the effort may lead. Now a bipartisan contingent on Capitol Hill hopes changing the dollar itself can save taxpayers hundreds of millions of bucks a year. The idea is to replace the familiar old dollar bill with a shiny new dollar coin. "It's a money saver," said Rep. Esteban E. Torres (D-Pico Rivera), who is co-sponsoring the legislation in the House with Rep. Jim Kolbe (R-Ariz.).
OPINION
February 19, 2007
Re "Series aims to end $1-coin curse," Feb. 15 There's a simple way to displace paper dollars with long-lasting coins. The Treasury Department would sell the $1 coins to banks for 80 cents each. Banks would give customers a dollar coin and a dime for each paper dollar turned in. Coins cost 20 cents to make and last 40 years. Paper dollars cost less but have to be replaced every 18 months. If the coins were laminated to provide a greenish reverse side, the "greenback dollar" would remain an icon and everyone involved would be happy.
CALIFORNIA | LOCAL
December 23, 2011 | Rong-Gong Lin II, Los Angeles Times
You can probably hear it when I walk down the hallway: the sound of gold dollar coins jingling in my pocket. I use them everywhere: the dry cleaner, the store, my favorite diner. No, they are not a heavy burden, I tell skeptics. When brand-new, they're like shimmering drops of sunshine. It's practical. During a dark time in my life, I used my credit card for almost every purchase. But at the end of each month, I was confronted by bills that pained me. What was that $4.06 purchase from a vendor called "San Francisco"?
OPINION
October 18, 2011
The good times roll Re "Nightclubs having a whale of a time," Oct. 15 My soon-to-be-former bank grudgingly shells out less than 1% interest on my savings account but would gleefully charge me 15% if I couldn't pay the full balance on my credit card. Meanwhile, banker and serial partyer An Pham Jr. throws away thousands of dollars in a single evening entertaining some kick boxer so he won't have to stand in line to buy a drink. And people are questioning the motivation behind the Occupy Wall Street movement?
OPINION
October 14, 2011
A dollar bill, as we all know too well, is a fleeting thing. Not just because it leaves our hands so much more easily than it returns but because, as it changes hands, it wears out within about three years, and often sooner. A coin's life span, by contrast, averages 30 years. That's why several members of Congress are suggesting phasing out the dollar bill entirely and replacing it with a coin. The production savings could add up to $5.5 billion over those three decades, proponents say. Coins are bulkier, but at least vending machines wouldn't spit them back out at us for having untidy corners or a crease here or there.
NATIONAL
December 27, 2007 | From Times Wire Reports
Coming soon on new presidential dollar coins: Old Hickory, Old Kinderhook, Old Man Eloquent and the Last of the Cocked Hats. The U.S. Mint, the maker of the nation's coins, today is unveiling the stately images of the next four presidents whose faces will appear on the front of the shiny gold-colored dollar coins next year.
BUSINESS
December 27, 2007 | From the Associated Press
Coming soon on new presidential dollar coins -- Old Hickory, Old Kinderhook, Old Man Eloquent and the Last of the Cocked Hats. The U.S. Mint, maker of the nation's coins, today will unveil the stately images of the next four presidents whose faces will appear on the front of the shiny gold-colored dollar coins next year.
NATIONAL
March 14, 2007 | From Times Wire Reports
Mary and Ray Smith can't make heads or tails of a new presidential dollar coin they found. It doesn't have either. A week after the revelation that some coins slipped out of the U.S. Mint without "In God We Trust" stamped on the edge, the Smiths said in Fort Collins that they found one with nothing stamped on either side. It does have "In God We Trust" on the edge. What's missing is the image of George Washington on the front and the Statue of Liberty on the back.
NEWS
March 20, 2000 | From Washington Post
Philip N. Diehl, director of the U.S. Mint, leaves no doubt that he thinks the new "golden dollar" coin has made a glittering debut. Now, he just needs to get Americans to spend it. "The coin is such a hot product that people are holding and seeking big quantities of them," he said. But Diehl hopes to get Americans in the habit of making change with the golden dollar.
OPINION
February 19, 2007
Re "Series aims to end $1-coin curse," Feb. 15 There's a simple way to displace paper dollars with long-lasting coins. The Treasury Department would sell the $1 coins to banks for 80 cents each. Banks would give customers a dollar coin and a dime for each paper dollar turned in. Coins cost 20 cents to make and last 40 years. Paper dollars cost less but have to be replaced every 18 months. If the coins were laminated to provide a greenish reverse side, the "greenback dollar" would remain an icon and everyone involved would be happy.
NATIONAL
February 15, 2007 | Adam Schreck, Times Staff Writer
OK, so Susan B. Anthony and Sacagawea didn't get the job done. Now the U.S. Mint is rolling out the big guns: George Washington, John Adams and Thomas Jefferson. But even the founding fathers may not be able to handle this challenge. In 1979, unhappy over the speed with which $1 bills wore out and the cost of replacing them, the Treasury Department issued a dollar coin featuring Anthony, the women's rights crusader. But the public wasn't buying -- or, rather, using.
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