Financial Update (January-March 2000)
Golden Dollar Coin Debuts
n January 2000, a new U.S. dollar coin began to circulate through banks, stores, post offices, mass transit facilities and vending machines. Authorized by the U.S. Dollar Coin Act of 1997, the new "golden dollar" will replace the Susan B. Anthony (SBA) dollar, which has circulated since 1979.
Because it has the same size, weight and electromagnetic properties as the SBA dollar, the new dollar coin will be accepted immediately by thousands of vending and mass transit machines that now accept the SBA coins. Unlike the SBA dollar, however, the new coin's golden color, smooth rim and extra-wide border make it readily distinguishable by sight and touch from the quarter.
The golden dollar is expected to be in high demand not only because of its usability and the ease with which it can be distinguished from other coins but also because of its aesthetic appeal. The face of the coin depicts Sacagawea, the young Shoshone Indian woman who served as a guide and translator for the Lewis and Clark expedition from the Great Northern Plains to the Pacific from 1804 to 1806. On the back of the coin is a soaring eagle and 17 stars, one for each state in 1804.
Market research conducted by the U.S. Mint indicates that the new dollar will be immediately popular. The Mint projects that in its first year demand for the golden dollar will double the current annual demand for the SBA dollar.
The Mint is conducting an extensive consumer awareness campaign, including television, radio and print advertising, retail and banking partnerships, business marketing and public relations events.
For more information about the new dollar coin, visit the U.S. Mint's Web site at www.usmint.gov/GoldenDollar.