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Efforts on behalf of dollar coin not justified by past experience

As elementary and high school students, members of the baby boom generation were told that in the not-too-distant future the metric system of weights and measures would be dominant in this country.

But now, close to or already in the last decade of work before their retirements, they still haven't witnessed that predicted metric dominance. And, full conversion to that system isn't likely to happen in their lifetime.

Public acceptance of the idea hasn't been forthcoming; there have been few, if any, demonstrations of support on metric's behalf.

The America public's acceptance of the idea of metric is similar to how Americans have greeted the various versions of dollar coins.

While people might cherish the opportunity to obtain a silver dollar such as was minted in the 1800s or first decades of the 1900s - to retain as a collector's item or, possibly, to sell at a profit - there never was much excitement over the large Eisenhower non-silver dollar or the dollar coins that followed, the Susan B. Anthony and Sacagawea dollars.

Dollar coins enjoy a degree of popularity in Canada, but Americans don't relish the thought of carrying around 20 dollar coins instead of $20 in paper currency. Many Americans don't even like pennies.

For Americans, the prospect of the nation saving money by using more durable money doesn't even produce much excitement. Therefore, it's unlikely that any dollar coin will ever catch hold of the public's fancy, as long as a paper $1 bill exists.

Thus, lawmakers who want to build support for any such coin are wasting their time, as is being done currently with a legislative proposal to breathe new life in the little-used Sacagawea coin, also called the Golden Dollar because of its golden color. The proposal calls for replacing Sacagawea, a Lemhi Shoshone Indian who helped Lewis and Clark find their way to the Pacific Ocean, now on the front of the coin, with a rotating-design approach honoring presidents in the order in which they served this country. The face of the coin featuring a president would change four times a year; the back of the coin would feature the image of the Statue of Liberty.

Henrietta Holsman Fore, director of the U.S. Mint, recognizes the meager prospects that what is being proposed will achieve the goal of dollar-coin supporters - day-to-day use by Americans - although the Mint itself hasn't taken an official position.

"A design change . . . likely will have no appreciable effect on how many are used in retail transactions," Fore said.

No doubt the coins would be sought by collectors, or non-collectors desiring just to collect a full set of the coins.

But after the initial novelty surrounding the coins wore off, it's doubtful that the coins would be used any more frequently than the Sacagawea dollar currently is seen.

Fore brought up another good point at a House hearing:

"There are barriers against Golden Dollar circulation such as . . . higher distribution and handling costs. A design change will not mitigate these barriers."

Lawmakers are wasting considerable time on an idea that for decades has been a failure, with that status unlikely to change.

The possibility of some future generation effecting the full conversion to metric is a much-more-likely possibility.

- J.R.K.

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