WASHINGTON – The second dollar coin in the new presidential series goes into circulation around the country today, with the U.S. Mint hoping it can turn 18th century statesman John Adams into a 21st century marketing phenomenon.
After two famous flops in Susan B. Anthony and Sacagawea, the U.S. Mint believes it now has the right strategy for success. But there are still plenty of naysayers around who believe a dollar coin will never gain wide acceptance unless the government gets rid of the dollar bill.
The Mint’s new formula has borrowed from the 50-state quarter program, the most popular coin program in history, which has lured millions of Americans into becoming coin collectors.
Like the quarters, the dollar coins will feature constantly changing designs – four new presidents each year in the order they served in office.
The hope is that the novelty of introducing a new design every three months will get people to start collecting the coins and then, as they get familiar with them, to start putting them to use in vending machines and other places where a dollar coin would be more convenient than using four quarters.
The series got started in February with the introduction of the first coin in the series – a gold-colored George Washington, slightly larger than a quarter.
Millions of John Adams coins – also a golden color – have been shipped to banks around the country, where they will be put into circulation today. The coins can also be purchased directly on the Mint’s Web site. Mint officials believe they have resolved some of the distribution glitches discovered in the rollout of the Washington coin.
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