Posted on 08/21/2010 7:17:45 AM PDT by Colonel Kangaroo
Today, the U.S. Treasury released a $1 coin commemorating former President James Buchanan. And people aren't happy about it.
To understand why, some background is helpful. In 2007, thanks to a bill promoted by then-Senator John Sununu of New Hampshire, the Treasury began minting $1 coins with the likenesses of former Presidents, starting with George Washington.
The coins -- which have been appearing ever since, featuring a new President every three months -- are meant to improve use and circulation of America's dollar coins, which are often seen as an awkward misfit among currency, neither fish nor fowl.
Sununu's initiative drew inspiration from the 50 State Quarters Program, which launched in 1999. The runaway success of that effort, according to his legislation, "shows that a design on a U.S. circulating coin that is regularly changed... radically increases demand for the coin, rapidly pulling it through the economy."
The bill also suggested that a program wherein Presidents are featured on a succession of $1 coins, and First Spouses commemorated on gold $10 coins, could help correct a state of affairs where "many people cannot name all of the Presidents, and fewer can name the spouses, nor can many people accurately place each President in the proper time period of American history."
So the bill passed, and the Washington dollar coin appeared not long after. It was followed by Adams, Jefferson, et al., with the First Spouse coins minted alongside.
Now we're up to Buchanan, the fifteenth President, who took office in 1857 and turned things over to Abraham Lincoln in 1861, and whose coin (produced at the Philadelphia and Denver Mints and purchasable through the U.S. Mint website) has occasioned the aforementioned grousing. Here's where some feel the coin program is falling short:
1. The coins aren't circulating.
Many Americans have never gotten into the habit of using $1 coins, and as a result, over a billion commemorative Presidential coins are sitting around in a stockpile at the Federal Reserve. As BBC News reports, if these coins were stacked up and laid on their side, they'd stretch for 1,367 miles, or the distance from Chicago to New Mexico.
2. They don't seem to be educating people, either.
In February 2008, a year after the first presidential coins were minted, The New York Times reported that a survey had found large numbers of American teens to be woefully ignorant of their country's history. It was far from the first time Americans had gotten a dismal grade in history, suggesting that Sununu's commemorative-coin campaign isn't having much of an effect in that arena, either.
3. James Buchanan was kind of a crappy president.
In fairness, this is a grievance with a specific president, not the presidential coins program as a whole. Still, it seems to come up in all the coverage of the new coin: Buchanan wasn't very good at his job.
That's the consensus of historians, anyway, who have traditionally censured Buchanan for his failure to prevent the Civil War. Last year, a C-SPAN survey of historians granted Buchanan the dubious distinction of worst president ever.
Still, all of this isn't reason enough to declare the commemorative-coins program a total failure. If more coin collectors start avidly pursuing the presidential coins, it could have the effect of pushing down the national debt, thanks to the way the value of the coins fluctuates with their availability. And if the dollar coins were to catch on and replace paper $1 bills entirely, it could save the country between $500 and $700 million each year in printing costs.
Plus, if things stay on track, 2012 will see the release of the Chester A. Arthur dollar coin -- marking the first time that long non-commemorated president's face has ever appeared on any nation's currency. And who are we to deprive him of that?
Mike, don't make a mountain out of a molehill. This Divorce is really quite simple. You get all the Northern blue States, including your home State of Ohio. In addition to this, you'll receive all of the sun seeking transplants back.
Our demands are few. Let the States who wish to join us do so, without armed repercussion. Immediately cease and desist from sending any more paid agitators from your N.Y based organizations.
In a nutshell Mike, let us go in peace.
Free Dixie!
DIXIE'S UNWELCOMED PRESENCE IN ROSIE O'DONNELL'S AMERICA
http://www.kennedytwins.com/rosie.pdf
Only if it promises to shorten the conflict and save lives like Sherman's tactics did.
That is quite an accomplishment! Congrats!
What would you know about that?
DIXIE'S UNWELCOMED PRESENCE IN ROSIE O'DONNELL'S AMERICA
Rosie O'Donnell's America doesn't extend much beyond wherever her fat ass is planted. I doubt that I'd be welcome there, much less Lost Causers.
What is is that they say about sincerity being the most important quality for succeeding in business? And if you can fake that then you've got it made? Obviously you've just spilled the secret for your success. It doesn't surprise me at all that you're two-faced.
Gives us somewhere to send our rejects. They feel right at home among y'all.
Give your posts I'd say right where you are, posting without coming any where near to the truth.
It's bullshit and I know it.
I treat people with respect, even those that don't really deserve it. For some reason however, I take out my disgust with the state of the republic on the ancestors of the Yankees who so willing helped the goon destroy it and states rights so long ago. FR allows me to do that and you and your ilk so willing play along.
I treat people with respect, even those that don't really deserve it. For some reason however, I take out my disgust with the state of the republic on the ancestors of the Yankees who so willing helped the goon destroy it and states rights so long ago. FR allows me to do that and you and your ilk so willing play along. A sincere thanks.
Double post, my bad.
Doubling down on insincere bullshiite. Your bad.
Thank you :)
: )
Two faced, like I said.
So in your new Dixie anyone you don't particularly care for will be rounded up and deported?
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