Your article “Americans not sold on dollar coin, Consumers apparently just not ready to change” (News, Jan. 27) announcing the demise of the Golden Dollar reminded me of Mark Twain’s classic line: Reports of its death are greatly exaggerated.
The golden dollar is actually a great success.
First, more than 700 million of the new coins went into circulation after its launch last year, when most experts predicted demand would not exceed 100 million.
Second, it was intended to replace the Susan B. Anthony dollar coin, not the dollar bill.
Just as important, the golden dollar has become a tremendous benefit for taxpayers. It generated more than $800 million in profits for the Treasury General Fund in fiscal year 2000 alone.
The advertising campaign that increased the number of golden dollars in circulation was paid for from revenues; not a dime of tax dollars was involved.
The U.S. Mint will continue working hard to build retail partnerships and increase use of the golden dollar.
We know Americans love the coin because they save so many.
Now we need to encourage consumers to spend more of them.
