MINTING STUPIDITY; Putting My Own Two Cents In

The 15th presidential $1 coin featuring James Buchanan was released into circulation on August 19th as the United States Mint hosted a launch ceremony on the grounds of Wheatland, Buchanan's home, in Lancaster, Pennsylvania. I missed the party where United States Mint Deputy Director Andy Brunhart said, “In a few short weeks, Americans will begin to see James Buchanan Presidential $1 Coins and will be reminded of his place in history." I would not bet on that happening! While the Deputy Director lauded the new coin last Thursday, just a month earlier, U.S. Mint Director Edmund Moy said to a congressional panel in response to why millions are being spent to encourage the use of the $1 coins. “We have tried every major idea that we can come up with, with limited success. Americans are creatures of habit. They are very used to using the bill. They're not used to using coins in regular retail transactions.” It also costs the government money to promote the coins, ship them, store them and protect the growing stockpile. Why is the mint making $1 coins when nobody is using them? Because The Presidential $1 Coin Act of 2005 (Public Law 109-145) directs the United States Mint to issue four $1 coins each year to honor our Nation's Presidents in the order they served in office. I read the act and it is so hysterical it should be doing stand-up at Zanies. To think that our Congress spent valuable governmental time on this bill has my sides splitting and I am laughing so hard as I write this blog! The act opens with ( my comments are in red), “For a variety of reasons, the new $1 coin introduced in 2000 has not been widely sought-after by the public, leading to higher costs for merchants and thus higher prices for consumers. But since The success of the 50 States Commemorative Coin Program (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a design on a United States circulating coin that is regularly changed in a manner similar to the systematic change in designs in such Program radically increases demand for the coin, rapidly pulling it through the economy.” So we should automatically decide that if we mint new dollar coins all the time people will want them just because they are new? Act 2 of our comedic special says, “A national survey and study by the Government Accountability Office has indicated that many Americans who do not seek, or who reject, the new $1 coin for use in commerce would actively seek the coin if an attractive, educational rotating design were to be struck on the coin.” So while American have rejected the $1 coin, maybe if the government makes it educational, Americans would use it? No! Act three tells us why presidents were picked to adorn the coin,”Many people cannot name all of the Presidents, and fewer can name the spouses, nor can many people accurately place each President in the proper time period of American history.” So if we mint a coin with their picture and dates of service, Americans will study the coin and remember the information about that particular President? Not!

We start our close with, “First Spouses have not generally been recognized on American coinage. So now we have SEC. 103. First Spouse Bullion Coin Program.” Under this section bullion coins will be minted with pictures of the first ladies. But the most recent President to have a coin is James Buchanan; he was not married! I wonder who they will use as his wife?

We take our bow with “Sec. 105. Sense of the Congress. It is the sense of the Congress that—(1) the enactment of this Act will serve to increase the use of $1 coins general” because ” the coins should be as attractive as possible.” Double riff here!

It is sad to think that the SENSE of our Congress is that Americans will use the $1 coin if it is pretty. Are we that superficial a nation? I will save our government money by telling them that nobody uses the $1 coin because it looks like a quarter and we get it mixed up in our change pile! Alter the shape and size of the coin and maybe we will use it.