John 'n' W.Va
Active member
New Dollar Coins About to Put a Jingle in Your Pocket
PHILADELPHIA - In most government buildings, workers and visitors have to walk through metal detectors on their way in. While that's also the case at the Philadelphia Mint, the biggest scrutiny comes when it's time to leave the building. Highly sensitive metal detectors scan people and their items for any coins. The smallest amount of metal, even underwire in bras, can set off the buzzer, leading to additional searches.
It's a long-standing practice at the Philadelphia Mint, where employees are not allowed to bring in coins and have specials debit cards for vending machines. But these days, the stakes are even higher. That's because the Mint is currently producing the first batch in a set of presidential dollards, cranking out $2 million to $3 million of the sparkling, gold-colored coins each day. Take out a few hundred pennies, or even quarters, and not too much is lost. Walk out the door with a few hundred dollar coins, and someone could afford a nice TV.
The lastest dollar-coin program will feature a former president on the heads side, starting with George Washington, and progressing in the order in which they served. Presidents must be deceased at least two years to appear on the coins. Four coins will be released each year, similar to the enormously popular state quarter program, which has turned millions of Americans into coin collectors. A lot is at stake for the government. Previous efforts to get the public to use dollar coins have failed. About $110 million of Sacagawea dollar coins are instorage. Except for collectors' sets, they have not been minted since March 2002, a little more than two years after they were introduced with much fanfare.
Mint officials say the new coins' designs will be popular with both collectors and comsumers. "It's really going to stimulate the dollar," says John Mercanti, head of engraving at the Philadelphia Mint, which takes up a city block across the street from Ben Franklin's burial plot. "our designs are far more dynamic and far more spectacular than they have been at any time in the past," says Mercanti, who has worked at the Philadelphia Mint for 34 years.
~By Barbara Hagenbaugh - USA TODAY
PHILADELPHIA - In most government buildings, workers and visitors have to walk through metal detectors on their way in. While that's also the case at the Philadelphia Mint, the biggest scrutiny comes when it's time to leave the building. Highly sensitive metal detectors scan people and their items for any coins. The smallest amount of metal, even underwire in bras, can set off the buzzer, leading to additional searches.
It's a long-standing practice at the Philadelphia Mint, where employees are not allowed to bring in coins and have specials debit cards for vending machines. But these days, the stakes are even higher. That's because the Mint is currently producing the first batch in a set of presidential dollards, cranking out $2 million to $3 million of the sparkling, gold-colored coins each day. Take out a few hundred pennies, or even quarters, and not too much is lost. Walk out the door with a few hundred dollar coins, and someone could afford a nice TV.
The lastest dollar-coin program will feature a former president on the heads side, starting with George Washington, and progressing in the order in which they served. Presidents must be deceased at least two years to appear on the coins. Four coins will be released each year, similar to the enormously popular state quarter program, which has turned millions of Americans into coin collectors. A lot is at stake for the government. Previous efforts to get the public to use dollar coins have failed. About $110 million of Sacagawea dollar coins are instorage. Except for collectors' sets, they have not been minted since March 2002, a little more than two years after they were introduced with much fanfare.
Mint officials say the new coins' designs will be popular with both collectors and comsumers. "It's really going to stimulate the dollar," says John Mercanti, head of engraving at the Philadelphia Mint, which takes up a city block across the street from Ben Franklin's burial plot. "our designs are far more dynamic and far more spectacular than they have been at any time in the past," says Mercanti, who has worked at the Philadelphia Mint for 34 years.
~By Barbara Hagenbaugh - USA TODAY
