Presidential Gold Dollars

Question

sk8ndestroy14 294 Posting Virtuoso

17 Years Ago

So the new Presidential Gold Dollars have started coming out. As of now there are two out; George Washington and John Adams. I have one of each, but I've rarely seen them anywhere. They also have Presidential Spouse ten dollar gold coins (actually made out of .9999 gold) starting with Martha Washington on June 19. Any comments on this?

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Latest Post 17 Years Ago Latest Post by MidiMagic

EnderX 352 Posting Shark

17 Years Ago

Oh, we like change just fine. Problem is, we like bills even more.

christina>you 820 Posting Sage

17 Years Ago

And the dollar bills...

We rarely use the $2 bill now though.

christina>you 820 Posting Sage

17 Years Ago

Has anyone ever seen this before?

US 100K Bill, 1934.

christina>you 820 Posting Sage

17 Years Ago

I have no clue, I found it off of a website.

EnderX 352 Posting Shark

17 Years Ago

I'm not sure about that particular bill, but it's my understanding that bills in that denomination range do in fact exist. However, they aren't put into circulation; they're supposedly used for transferring funds between banks. Which means that, what with ebanking and the like, and instant access to other banks via the Internet, it's quite possible such denominations will be phased out. (Note: From the word Which on is speculation on my part.)

Edit: Also, please note the 'in gold' reference near the bottom of the bill; might have a point there. As I said, our currency really isn't metal-backed any more.

sk8ndestroy14 commented: You know a lot. +3

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christina>you 820 Posting Sage Featured Poster · Answer 1 · 2007-05-23T08:45:08+00:00

christina>you 820 Posting Sage

17 Years Ago

I have the George Washington.

sk8ndestroy14 294 Posting Virtuoso · Answer 2 · 2007-05-23T08:46:26+00:00

(That was the fastest reply I've ever seen!) Yeah, I had to actually go to the bank to find them, when I cashed my pay check.

christina>you 820 Posting Sage Featured Poster · Answer 3 · 2007-05-23T08:49:20+00:00

What can I say, I'm bored. ;o)

Really? I got mine out of a change machine.

sk8ndestroy14 294 Posting Virtuoso · Answer 4 · 2007-05-23T09:00:42+00:00

I didn't think they'd have those in change machines. That's interesting.

christina>you 820 Posting Sage Featured Poster · Answer 5 · 2007-05-23T09:04:18+00:00

Yeah I got 4 of them... I was like 'Omgosh, I've never seen these before!' Hehe.. I was excited.

Infarction 503 Posting Virtuoso · Answer 6 · 2007-05-23T11:42:31+00:00

haha, I remember when the Sacajawea coins came out (back in 2000). We'll see how these do. Ironically, my roommate was just showing them to me a few minutes ago :P

sk8ndestroy14 294 Posting Virtuoso · Answer 7 · 2007-05-24T08:19:22+00:00

Yeah, I still have one Sacajawea dollar. Maybe it'll be worth $1.01 in the future if I keep it. But the state quarters were a big success so a new series like this might look good. But until they stop making the paper dollar there won't ever be a coin to replace it. Just like the metric system still isn't the primary system in the United States.

EnderX 352 Posting Shark · Answer 8 · 2007-05-24T18:33:36+00:00

Depends on how the currencying goes. From what I understand, originally our paper money was backed by gold and silver, now it's not. Hence, major inflaltion becomes an option.

What's the metal value of the coins? (Amnt Metal * $/oz) If that's high enough, the coins may be worth more for their metal value than their 'normal' value. They had a similar problem with dimes, quarters, and higher back when those were made out of silver; people would shave the edges off, then use the coin. After a while, the shaved silver was a pile large enough to be worth something in its own right. That's why they started putting ridges around those coins; shaving the ridges would be obvious.

RwCC 56 Junior Poster · Answer 9 · 2007-05-24T18:52:55+00:00

Is there a reason for the release? Or was it just to give you guys something new?

sk8ndestroy14 294 Posting Virtuoso · Answer 10 · 2007-05-25T08:25:29+00:00

88.5% Cu
6% Zn
3.5% Mn
2% Ni

I think the government is looking for a way to get rid of the one dollar bill and replace it with a coin. They've tried to do it for a while, but it never really worked. The state quarters were really popular so they thought the presidential dollars would be too. It's supposed to save the government I think 3 million or something like that each year because coins last so much longer than bill. The truth is, I don't think they will replace the dollar bill because they're still printing them. That and people in America seem to not like change too much. Like what I said before, that's why we're still on the customary system. Personally, I think it's time that we should turn over to the metric system (and start using dollar coins rather than bills).

jbennet 1,618 Most Valuable Poster Team Colleague Featured Poster · Answer 11 · 2007-05-25T18:43:53+00:00

In the UK we did away with £1 notes in 1984 (scotland still has them though) and use just coins. We also have £2 coins

jbennet 1,618 Most Valuable Poster Team Colleague Featured Poster · Answer 12 · 2007-05-25T18:49:56+00:00

Lets all show some pics of the money of our country. Ive never seen any US money

sk8ndestroy14 294 Posting Virtuoso · Answer 13 · 2007-05-26T01:38:21+00:00

I think I've seen the person on the fifty pence piece before? Who is on the front (a fictional person I think)?

christina>you 820 Posting Sage Featured Poster · Answer 14 · 2007-05-26T01:44:33+00:00

Here are some of the coins....

Dime - $.10; US Dollar Coin - $1.00; US Dollar Coin - $1.00; US Half Dollar - $.50; Penny - $.01; Quarter - $.50; Nickel - $.05

sk8ndestroy14 294 Posting Virtuoso · Answer 15 · 2007-05-26T01:48:28+00:00

The first two are the new presidential dollars and the third is the obverse side. The next two are the Sacajewea dollars that they tried around 2000 that never really got anywhere. The rest are just normal coins (penny, nickel, dime quarter) They also have state quarters where instead of the eagle on the tails side they have a representation of one of the fifty states. Most of them have been released but they haven't finished that program yet. There are also fifty cent pieces that are rarely seen and some older dollar coins. There are bicentinneal quarters and newer westward journey nickels too. Someone told me that one of the new westward journey nickels has already become rare enough that it's worth about two dollars to two fifty.

sk8ndestroy14 294 Posting Virtuoso · Answer 16 · 2007-05-26T01:48:53+00:00

I thought those would come up as thumbnails. Sorry.

sk8ndestroy14 294 Posting Virtuoso · Answer 17 · 2007-05-26T01:59:09+00:00

Is it real? I remember not very long ago someone around here I think, tried to use a bill that was one million dollars or some high amount like that. It was counterfeit and apparently there is no such bill like that so it was really funny when he got caught.

sk8ndestroy14 294 Posting Virtuoso · Answer 18 · 2007-05-26T02:05:44+00:00

You can get fake ones at spencer's and they look real. Some people actually believe you if you pull it out.

jbennet 1,618 Most Valuable Poster Team Colleague Featured Poster · Answer 19 · 2007-05-26T16:20:34+00:00

Big notes do exist. There are like £1000000 notes, but they are not publicly available. They are used for intergovermental transactions

and as to the "in gold" thats because of the gold standard.

and to get thumbnails click Go Advanced and then the paperclip then point it to the files (which you should have saved e.g to your desktop)

sk8ndestroy14 294 Posting Virtuoso · Answer 20 · 2007-05-27T00:05:19+00:00

sk8ndestroy14 294 Posting Virtuoso

17 Years Ago

Oh, okay. Thanks.

joshSCH 1,062 Industrious Poster Banned · Answer 21 · 2007-05-28T05:04:41+00:00

As for the government's new release of the dollar coins, yes, it is because $1 bills cost much more to produce than coins, and they have an average life span of 12-18 months. The treasury has repeatedly tried to change the standard to the coins, but they fail b/c people tend to keep the coins as souvenirs. This is how the Sacajawea coins failed anyway. The treasury is trying to make machines (cokes, snacks, etc.) accept and carry the coins in hopes that it won't fail this time. But it probably will..

As for the high dollar bills, they are no longer in circulation and as far as I know they are not printed anymore.. I visited the Bureau of printing and engraving in D.C. last summer and the talked about those a bit.. apparently they were printed a lot during the great depression..

sk8ndestroy14 294 Posting Virtuoso · Answer 22 · 2007-05-28T08:21:27+00:00

Josh, you're back! How's it been?

The truth is, on ebay people will buy them for like three to five dollars when they're new. When the next one comes out I'm selling a few just a little before they come out, getting them from the bank and then making myself a few dollars.

joshSCH 1,062 Industrious Poster Banned · Answer 23 · 2007-05-28T09:20:07+00:00

haha yea.. I've been alright.. I see that yall have debated much without me lol.. I will have to go back and read all those posts..

People are buying the coins for $3 on ebay? Can they not just go to the bank and exchange their paper money for them? I know that the first 1000 coins or so didn't have "In god we trust" printed on the sides, so people were paying tons for those (including the U.S. treasury).

lol.. People should not horde these coins or attempt to collect them.. b/c that is exactly why all the other 1/2 dollar and dollar coins have failed before. The treasury wants us to just use them as if they were currency.. But thats not going to happen. People are already buying them up in large quantities.. Besides, it's so much easier placing a $1 bill in your wallet than carrying around coins.

sk8ndestroy14 294 Posting Virtuoso · Answer 24 · 2007-05-28T09:24:55+00:00

Yeah, you can just get them at the bank for only a dollar. That's what I did when I cashed my pay check. But for some reason they're selling on ebay for a bit more. They were doing better when they first came out around their release dates. I guess people think they are rare or they're too lazy to go to the bank and wait in line.

I'd rather have our country start using common one dollar coins than one dollar bills. Personally, I wouldn't mind that much. But I don't think the one dollar bill will ever be replaced until they stop making them.