November 20, 2006

Too many Sacagaweas?

Coin plan could lead to additional SacagaweasThe U.S. Mint and the Federal Reserve have more Sacagawea dollar coins than they know what to do with. And they're about to get more.

Although the Sacagawea has not been produced since March 2002, the Federal Reserve and the Mint as of June 30 had more than 200 million dollar coins, most of them Sacagaweas, in combined inventory, according to the Fed. That's enough to meet current demand for 3½ years.


writerfella said...

Writerfella here --
It's mysterious just how personalities who were not Presidents or famous political figures become coin icons. Before the Susan B. Anthony dollar coin in 1979, women who were depicted on US monies mostly were mythological Caucasian priestesses or goddesses of concepts such as liberty or freedom or even Columbia. There were 888,842,452 Susan B. Anthony dollar coins minted for general circulation with the date 1979. Dollar coins with dates such as 1980, 1981, and 1999 were limited mintings for collectors. Though it never officially was removed from circulation, most Susan B. Anthony coins are stored in Treasury warehouses at considerable yearly costs. That means there only have been 1/4 that number of Sacagawea dollar coins minted between 1997 and 1999, with any subsequent dates being minted for collectors only. Both experiments to try to retire and cheaply replace US one dollar paper currency similarly have failed. With a return to Presidential dollar coins, the number of Sacagawea coins will continue to increase to little purpose. writerfella has a framed and matted collection of US and state coins and bills depicting Natives (missing only the most valuable specimens), with the gold-and-silver pronouncement, "THE ONLY INDIANS AMERICA EVER LOVED..."
All Best
Russ Bates

Not a Sioux said...

The feds blew it with the Sacagawea coin. They advertised it heavily, but did not bother to distribute them. I remember getting chewed out when I'd ask for them at a bank at a time after the unveiling.

Not only that, it was badly designed. The cladding on it quickly turns into a color where it resembles a giant penny. They didn't learn any lessons from the making of the Susan B. Anthony quarter.