…yet again.
Say what you like about the American spirit, one adjective that must describe it is persistent. Despite two failed attempts to interest Americans in the dollar coin, Congress is prepared to give the idea another stab. But will the third time charm? Given its history, I’d only be willing to bet a dollar coin.
"The recent history of the dollar coin in the United States is not a proud one.
"In 1979, the Treasury Department introduced the Susan B. Anthony dollar, and produced nearly one billion of them between 1979 and 1981.
"The Carter administration promoted it with a vengeance, calling it ‘the dollar of the future.’
"They hyped its cost-savings — metal lasts much longer than paper, so you don’t need to mint as often as you print.
"They hyped its subject — Anthony was the first woman (if you don’t count Lady Liberty) to appear on U.S. money since the early 19th century.
"They even hyped its design — the 11-sided polygon (a hendecagon) was meant to mark a clear difference between the coin and all others.
"Despite the fanfare, the public hated it. The Anthony dollar quickly became another quaint relic of the Seventies, like the AMC Pacer.
"In 1999, Treasury made another attempt at a dollar coin. This time, it honored the Shoshone woman who helped guide Lewis and Clark across the West.
"Boosters again made arguments about cost-savings and historical import. Americans again responded with vast national indifference.
"Three years after its introduction, a General Accounting Office poll found that 97 percent of American had not used the coin within the past month, and that 74 percent could not remember ever using one."
