It's So Money

Have you received change lately and noticed the cashier gave you a coin instead of a dollar bill?

Or, more likely, have you seen the very hip George Washington TV commercials?

If so, you know what this article is about: the newest coin to be produced by the U.S. Mint.

The new gold dollar replaces the Susan B. Anthony dollar (that coin, which was issued in 1979, was close to the size of the quarter and never became very popular.)

A Billion in 2000

The United States Mint has high hopes for its new coin and has put their "money" where their mouth is.

In February alone 200 million dollar coins were issued and more than a billion are planned just in the year 2000.

But why issue a new dollar coin at all?

According to the U.S. Mint, public demand for the coin increased just as the government's supply of Susan B. Anthony dollars was rapidly running out.

In response, Congress passed the United States Dollar Coin Act of 1997, which authorized the creation of a new dollar coin.

The law directed that the dollar be gold in color, have a distinctive edge-- so that it wouldn't be confused with a quarter-- and that it be the same size as the Susan B. Anthony dollar. The reverse, or "tails" side of the coin would depict an eagle.

Heads You Win

Congress ordered the Secretary of the Treasury to select a design for the obverse of the new coin -- a.k.a. the "heads" side of the coin.

The Secretary decided that the obverse design would depict one or more women, none of whom could be a living person.

Still, it was difficult to choose whose image should be portrayed on the coin. Members of the public submitted numerous ideas, including Eleanor Roosevelt, Harriet Tubman and Betsy Ross. Even the Statue of Liberty was considered.

The Mint tapped in on the World Wide Web's power. It published the finalist designs on its Web site and received a never-imagined response: Over 120,000 e-mails and 2,000 letters and faxes. Americans from every walk of life expressed their interest in the new dollar coin.

In the end the Dollar Coin Advisory Committee selected Sacagawea.

Sacagawea, the Guide

Sacagawea was a Shoshone Indian who guided Lewis and Clark through the American West to the Pacific Ocean and back again.

Six months pregnant and only 15 years old when the two-year journey began in 1804, Sacagawea's participation was crucial to the success of the expedition. She spoke several Indian languages, which allowed the explorers to make contact with her people and purchase the horses they needed to make the trip.

She also taught the explorers how to find edible roots and provided extensive knowledge of the terrain. It is widely agreed that without the navigational and diplomatic skills of Sacagawea, the expedition would never have been completed.

Incredibly, for much of the trip Sacagawea traveled with her infant son, Jean Baptiste.

In the final design, sculpter Glenna Goodacre depicted Sacagawea (based on model Randy'L He-dow Tetontk) with Jean Baptiste strapped to her back.

Marketing the Dollar

In order to promote the dollar, the U.S. Mint decided on a 13 month public relations campaign, which included distribution of the Golden Dollars at Wal-Mart and as prizes in selected Cheerios cereal boxes.

Next, the Mint introduced a series of television ads featuring an oh-so-hip George Washington declaring that the new Golden Dollar is "so money".

Ironically, the trendy ads initially led collectors to hoard the coins and consequently, the coins did not immediately come into wide circulation.

Still, the Mint is printing 6 million more Golden Dollars every day and the general public can purchase them online.

The coins are also widely available at post offices and banks.

So the question becomes, do you like coins over paper? If so,

--contributed by Sandra Velvel

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