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United States 1 Dollar Coins

April 17, 2012 by staff 

United States 1 Dollar CoinsUnited States 1 Dollar Coins, Dollar coins have been minted in the United States in gold, silver, and base metal versions. The term silver dollar is often used for any large white metal coin issued by the United States with a face value of one dollar, although purists insist that a dollar is not silver unless it contains some of that metal.

Silver dollars, the first dollar coin issue, were minted beginning in 1794. Gold and gold-colored dollars have also been produced by the United States. The Sacagawea and Presidential dollars are referred to as “golden dollars”.

Dollar coins have found little popular acceptance in circulation in the United States since the early 20th century, despite several attempts since 1971 to phase in a coin in place of the one dollar bill. This contrasts with currencies of most other developed countries, where denominations of similar value exist only in coin. These coins have largely succeeded because of a removal (or lack) of their corresponding paper issues, whereas the United States government has taken no action to remove the one-dollar bill, due to either intensive lobbying by “Save the Greenback” or genuine consumer resistance.

The United States Government Accountability Office (GAO) has stated that discontinuing the dollar bill in favor of the dollar coin would save the U.S. government approximately $5.5 billion over thirty years.

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