HEADLINE: Inside the Fed

[Vernon in Virginia~Formerly Alaska]

[size=large]A bigger bust than even Susan B. Anthony or the Sacagawea dollar coins that cost mega millions to mint. Picture of the now failed Buchanan coin. Together these coins cost the tax payer well over 100 million dollars in bureaucratic bad ideas and wasteful, unnecessary spending

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[Craig in Alabama]

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[BobinMIZZU]

Canada's successful use of dollar coins (they use a $2 coin as well) but never gone about it in the right way. Dollar coins will never be used until it is mandated that vending machines accept them.

I've spent a lot of time in Canada and like using "loonies and two-nies". Way easier than fumbling with bills. On top of that, they are great for MD'ers - just ask ole Leslie. I hope some day our fine leaders will wake up and figure out how to get it done.

 

[therick]

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[Vernon in Virginia~Formerly Alaska]

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[therick]

http://graphicartsmag.com/news/2010/12/printing-error-on-new-us-100-bill-a-billion-dollar-mistake

 

[Vernon in Virginia~Formerly Alaska]

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[BobinMIZZU]

in addition to the 1+ billion already in vaults, the mint must continue to make them. They are a series required by Act of Congress that honors Presidents. The bill, passed in 2005. requires a new coin be introduced every 3 months until all Presidents are covered. Production started in 2007 and they are presently up to Ulysses S. Grant, our 18th President. Unless Congress acts to stop this coinage, the production will continue until 2016.

It gets even juicier - so that nobody got their nose out of joint the law was written so that 20% of all $1 coins produced must continue to carry the likeness of Sacajawea. So.....for every 4 of the President coins (that no one wants) they have to produce a Sac dollar (that no one wants).

Final little goody. Who had this great idea? The guy who sponsored the bill had an (R) after his name. So did those who moved it through congress. Oddly enough, none of them involved seem to want to talk about it much these days. Plenty of boondoggle blame to go around!

 

[Roscue2]

I just think the gov didn't go about informing the public about the coins the right way.... for what it is worth.

 

[Vernon in Virginia~Formerly Alaska]

[size=large] Now picture a classic patriotic coin like this, minted the size of a 50 cent piece, in a nice gold color ~BINGO, success! So easy a child could do it. Hey, I WANT ONE! [/size]
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[Vernon in Virginia~Formerly Alaska]

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[Jim West Pa]

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