Posted on 09/09/2002 8:47:19 AM PDT by Willie Green
For education and discussion only. Not for commercial use.
WASHINGTON (AP) — The maker of the nation's coins is looking for some change.
The U.S. Mint, responding to some gripes among experts and collectors that current coin designs are stagnant and boring, is exploring making over all U.S. coins, except for the quarter.
The idea of new coin designs, while still in its infancy, was discussed in a report by a Mint task force in late August.
The task force cited ``one fundamental objective'' in proposing a redesign of the coins: ``The Mint must endeavor at the beginning of the 21st century to provide Americans and the world circulating coinage with designs and themes that appropriately reflect the pride of today's America.''
The report suggested that a new nickel be introduced in 2003, followed by a new dime in 2004, half-dollar in 2005 and penny in 2006.
At this point, Mint officials are considering changes to the people and pictures on the coins, rather than changes in their size, shape or what they are made of.
Potential themes for redesigned coins are things American, among them: freedoms, innovation, vistas, arts and culture, classic coins, the West, presidents, heroes and heroines, women, endangered species, animals and Nobel Prize winners.
``It's really in the sort of very, very early stages of the process. We're discussing the possibilities of coin designs,'' said Mint spokesman Michael White. ``The designs have been static for so long.''
While the nation's paper money has gotten makeovers intended to thwart high-tech counterfeiters, a coin redesign would be aimed at making the coins more interesting and aesthetically pleasing, White said. In general, counterfeiters are much more interested in making bogus bills than phony coins.
``It would be great to have change in our pocket change. It is long overdue,'' said Donn Pearlman, spokesman for the Professional Numismatists Guild, a nonprofit organization of rare-coin and paper money experts.
The current designs are old. Abraham Lincoln's image was put on the front of the penny in 1909 to commemorate the 100th anniversary of his birth. But the back of the penny was changed in 1959, when the Lincoln Memorial replaced stalks of wheat. The nickel, bearing Thomas Jefferson's profile on the front, was designed in 1938; and the dime, showing a portrait of Franklin D. Roosevelt on the front, was designed in 1946. The half-dollar carrying John F. Kennedy's bust was designed in 1964.
The Mint's idea to redesign the nickel has ruffled some feathers on Capitol Hill.
The Treasury Department agency suggested changing the back of the new nickel to commemorate the bicentennial of the Louisiana Purchase and the Lewis and Clark expedition.
It recommended replacing Monticello — Jefferson's home outside Charlottesville, Va. — with the image of an American Indian and an eagle facing westward. The image of Jefferson, who made the 1803 Louisiana Purchase and sponsored the Lewis and Clark expedition, would remain on the front of the coin.
Worried about the loss of Monticello, Virginia lawmakers pushed through the House legislation that would recognize the redesign to honor the Louisiana Purchase and Lewis and Clark for the years 2003, 2004 and 2005. But in 2006, Monticello would return to its permanent place on the nickel.
For a makeover that involves different designs for a coin over a multiyear period, congressional approval is required, the report said. The Mint has more leeway on one-time design changes, but officials say they'll work closely with the Congress on any design changes.
The task force recommended that a panel of experts, including representatives from Capitol Hill, historians, artists, educators, numismatists and business people, be created to oversee the coin makeover process.
The report didn't mention specific design recommendations for the penny, dime or half-dollar.
A change was suggested, however, for the beleaguered dollar coin, which features an image of Sacagawea — the Shoshone Indian woman who helped guide Lewis and Clark on their expedition — on the front.
The task force suggested ``a 50-state bird circulating commemorative coin program'' for the back of the dollar coin, known as the Sacagawea or the Golden Dollar for its golden color. That change would require congressional approval, the report said. Mint officials said it was premature to discuss how a 50-state bird program might work.
Launched with great fanfare two years ago, the Sacagawea dollar coin has failed to become a staple in Americans' change purses and in the nation's commerce. For now, the Mint stopped making new Sacagawea coins for circulation, but it still produces some for collectors.
The 50-state quarter program, started in 1999, has been quite popular. With the upcoming introduction of the Mississippi quarter, the Mint will have honored 20 states.
I couldn't agree with you more.
IMHO, the coinage you mention is some of the most aestheticly pleasing that the Mint has ever produced.
And our ancestors apparently had the wisdom to choose themes that were politicly neutral.
Sadly, it is unlikely that the current proposal for redesign will be void of controversey advocated by special interests. But that's politics for ya....
I don't care if my money is interesting or aesthetically pleasing...I just want to pay less of it in taxes. Seems to me the nation has more important issues to consider right now than pleasing a few coin collectors.
That's something I make a point to do whenever I visit the bank anyway. A roll of dollars is only $25, and I find the coins convenient for making miscellaneous small purchases or leaving tips. (Beats having to reach into both my back pocket for my wallet AND into my front pocket for exact change. Plus, they're a lot less bulky and easier to count than the same amount of money in quarters.)
The problem IS the paper dollar.
Habits are tough to break.
IMHO, the only way to switch is to actually discontinue the paper dollar.
(It would be a cost savings to the Treasury since coins have a much longer life expectancy in circulation.)
You got it! They probably want to change the coins because then maybe there will be some mis hits, and they have people in place to grab the mis hits, thus the average person seldom finds mis hits anymore. Read an article about this a while back in a coin magazine. Quite a racket they have now.
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