New dollar coin is a golden success

The U.S. Mint plans to produce 1 billion golden dollars this year

February 19, 2000
Web posted at: 11:12 p.m. EST (0412 GMT)

WASHINGTON (CNN) -- The U.S. Mint appears to have struck gold with its latest issue, the dollar coin carrying an image of Sacajawea, the Shoshone Indian woman who aided the Lewis and Clark expedition.

Banks and retailers were reluctant to order the new coin until it was a proven success. So the mint decided to launch the new dollar at the nation's largest retailer, Wal- Mart, and its Sam's Clubs.

David Bickel, a Wal-Mart store manager, said, "Demand has been high and, by and large, our customers seem to be real excited about the new coins."

Mint Director Philip Diehl said, "People were lining up at the stores. Ten-day to two-week supplies of coins were gone in a few hours or, in many stores, in a few days."

The new coin is made of a gold-colored alloy and has a smooth edge so that, unlike the Susan B. Anthony dollar, it won't be confused with a quarter.

But some Americans still balked at the coin, saying that it mixed with their change and, even though they could tell there was a difference, they said that they would not be paying attention all the time.

The new dollar is expected to fit neatly into the niche the Susan B. Anthony coin has filled; heavily used in mass transit systems, post offices and, eventually, replacing quarters in vending machines, car washes and parking meters.

So the U.S. Mint is doubling production, now that the public has found a dollar coin that makes sense.

Correspondent Kathleen Koch contributed to this report

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The United States Mint

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