Dollar coins will be easier to spend

January 27th, 2007 | by mbhunter |

The first of the new Presidential $1 coins will be available February 15th, just in time for President’s Day.

Additionally, the Presidential $1 Coin Act of 2005 contains requirements that Federal agencies, businesses operating on Federal property, and Federally-funded transit systems have the ability to accept and dispense the coins by the beginning of next year.

I’ve paid for merchandise with $1 coins on many occasions and I’ve never been turned down.  I’d welcome the ability to be able to buy a soda in a vending machine with a $1 coin rather than mess around with a tattered $1 bill and a finicky bill accepter.  Some vending machines have been able to accept the dollar coins for a few years, but now that inflation is pushing a lot of snack foods close to the $1 range the cost in retrofitting a machine to accept the coins will probably pay off.  It’s another payment option available to a potential customer, and one that’s probably going to be more widespread this time around.

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  1. 7 Responses to “Dollar coins will be easier to spend”

  2. By terry on Jan 27, 2007 | Reply

    BTW, in an article in the current issue of COINage magazine (the best monthly coin mag IMO), it is reported that the Federal Reserve – which dispenses new coins to banks across the country – has a big storage headache with bags and bags and bags of “unwanted” Sacagawea dollar coins piling up.

    Hey, I’ll help out by taking any unwanted dollar coins, I’ll even come pick them up!

  3. By Kris on Jan 27, 2007 | Reply

    I don’t mind using coin dollars at all, but the only time I get them is when I use the stamp vending machine at the post office. I wish it were more wide-spread.

  4. By Andrew on Jan 27, 2007 | Reply

    Up here in the great white north, we’ve had $1 coins for twenty years now (we also now have $2 coins) and IMO think they’re great. From vending machines to parking meters – $1 and $2 coins are IMO much easier to handle than a bunch of mangled $1 and $2 bills.

  5. By dimes on Jan 29, 2007 | Reply

    I was so daunted when I got dollar coins back in change from a transit system a couple of years ago, but when I tried to buy another ticket using them, the stupid machine wouldn’t take them! I’m glad they’re being retrofitted.

  6. By Mr. M on Mar 15, 2007 | Reply

    I like the coins and I enjoyed picking up a roll at the bank last week. I like spending them, but I know not everyone likes receiving them. :( That is part of the problem. So I say this, if any of you out there enjoy spending the golden dollar coins then try and spend more than one or two at a purchase. This way the cashier will realize they aren’t getting quarters and they will be less likely to give the coin back in change as a quarter. This may also help the chances of these becoming a little more mainstream. Maybe carry less $5 bills and pay with the goldend dollars when you pay at a counter.

  7. By Mr. M on Mar 15, 2007 | Reply

    or spend them as you wish….or not at all! :)

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