Coin Campaign Doomed to Fail
By Mike Unser
Americans are very
familiar with the continual failure of dollar
coins in every day use. In recent years, the
Susan B. Anthony and the Sacagawea Golden Dollar
have lost their acceptance battle.
Today, the new Presidential $1 coins honoring
U.S. presidents is failing. Over one billion of
the coins have been minted since the series
start in 2007. Yet, few are ever seen in daily
use. The paper bill is the currency of choice.
The U.S. Mint hopes a new marketing campaign
will change people’s minds. They have selected
four cities — Austin, TX; Grand Rapids,
Michigan; Portland, Oregon; and Charlotte, North
Carolina — as their testing bed.
The latest campaign takes a "green" approach,
marketing how paper dollars waste money and harm
the environment. To help America, the four city
residents will be told to use "100 percent
recyclable" coins that last decades instead of
21 months, like a $1 note’s typical lifespan.
"This is the first program of its kind to
inspire shoppers, diners and commuters to use $1
Coins in their normal, everyday activities,"
said United States Mint Director Ed Moy. "When
each of us spends the $1 Coin, we make a
difference for our country, because the $1 Coin
is durable and using it saves the Nation money.
We hope our pilot cities lead the change!"
The U.S. Mint is required by law to promote the
new Presidential coins, and their latest
approach is perhaps one of the most unique ways
to date. It rides the growing green train.
But then there are today’s facts that starkly
contrast against any campaign for dollar coins.
To name a few, banknotes are preferred,
convenient, nearly weightless, don’t jingle in
the pocket, don’t take valuable space, and are
readily available — unlike dollar coins
Dollar bills bear little to no physical and
mental burdens for anyone. Their reason for use
outweigh the tangibles of every day transactions
using $1 coins. Marketing the coins as a green
solution will not begin a viral surge to use
What will work? The history of previous dollar
coin failures has already drawn up the
Removing dollar bills from circulation is the
only event that will cause Americans to carry $1
coins in any significant quantity.