Canada has a dollar coin that is roughly the same size as ours, and it is also copper colored. It is frequently found in circulation along with the ringed bi-metal $2 coin. Why is it a success? Quite simply, Canada stopped printing $1 (and $2) banknotes. The US hasn't and won't take that step due to popular demand for $1 banknotes.
It isn't the size or the color that made the $1 coin a failure. It is the preference for paper $1 bills.
By the way, the new $1 coin series appears to be aimed at the collector market instaed of circulation.
Also, there is one place that the $1 coin has been an unqualified success: Ecuador. In 2001, Ecuador abandoned their own iflation-racked currecy in favor of the US dollar. We exported 200 million of the Sacajawea $1 coins there, and they are very readily accepted. In fact, many Ecuadoreans think that the portrait is of an Ecuadorean woman and not Sacajawea.
2006-11-30 12:57:02
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answer #1
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answered by F. Frederick Skitty 7
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Not only what she said, but most people don't like to carry change anyway. It is much lighter and less bulky to carry paper money instead of coin.
When I worked retail, we tried to give the dollar coins back as change and EVERYBODY asked if they could have a dollar instead of the coin.
2006-11-30 09:15:36
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answer #2
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answered by teel2624 4
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The Sacajeweyah (Sp.?) dollar never seemed to catch on. I think they were more popular with collectors than with the public. However, the U.S. mint is now releasing 2 new gold dollars/year. Each one will feature a different POTUS.
Oh yeah - they're not REALLY gold. But they will look like it.
2006-11-30 09:15:47
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answer #3
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answered by keepsondancing 5
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Simple. Coins suck and are inconvenient.
2006-11-30 09:18:25
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answer #4
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answered by shake_um 5
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no 1 likes them. They will try & fail again.
2006-11-30 09:47:00
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answer #5
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answered by vegas_iwish 5
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