The
Golden Dollar, in its first year, was a
failure for two reasons:
- No one spent them: These items were snatched up as one dollar collectors' items. I know that personally, i bought a roll of them, as soon as they came out. They were neat, artistic, and definitely a novelty; not worth spending. In a year of so many currency changes (Golden Dollar, state quarters, and new high dollar bills), people like to stick with what they know: singles. The dollar coin works great in Canada, if you've ever been; so why can't it work in the US? The reason for all of the advertising ("Spend it, it's money too"), is that they people are hoarding them, across the nation.
- They tarnished way too easily: Ever keep them in a wallet, or actually try to use them? The finish on them tarnished too quickly. The aforementioned roll of Golden Dollars, fresh from the mint, lost their shine in a couple of months... from sitting out on my dresser.
Save your golden dollars: the mint is re-formulating them, and they will be released
anew as soon as they are ready. It's surprising to think that the
general public exercised a bit of
twisted wisdom in hoarding these soon-to-be valuable pieces of
currency.