by Charles Morgan and Hubert Walker for CoinWeek …..
How long would it take to spend $100,000 in golden dollars? That’s the question I asked members of the Coin Community Family (CCF) forums almost two years ago. In what has become one of the longest running CCF threads of all time, we might soon know the answer. That’s because, to date, the collectors at the CCF have spent a total of $44,375 dollar coins (minus a few hundred Kennedy halves, Susan B. Anthony and Ike dollars thrown in for good measure).
One goal I had in mind when I proposed the experiment was to see if the much-maligned dollar coin is viable for daily use. I knew it was practically impossible to spend the coins at many kinds of coin-operated vending machines, but I wasn’t sure exactly how it would feel to buy lunch, say, or a tank of gas with a dollar coin.
We learned early on that the coin isn’t the most practical means of getting lunch, buying a book, or paying for popcorn at the movie theater. Larger denomination coins, like a $2.50, $5.00, $10, or even $20 piece, would work much better. Still, despite the limited utility of the dowdy dollar coin, hundreds of CCF members have completed thousands of transactions and spent tens of thousands of golden dollars.
How many stayed in circulation and for how long, we may never know. But somewhere out there--I can assure you--are some not intended for circulation 2013 Presidential dollar coins floating around. I know, because I spent them!
The E-Sylum Comes to CoinWeek
And finally, we have something wonderful to announce.
Many of us here at CoinWeek look forward to receiving the E-Sylum eNewsletter--the electronic counterpart of The Asylum, the quarterly publication of the Numismatic Bibliomania Society (NBS)--in our inbox every Sunday. It features a selection of the week’s best coin and currency writing online, along with reviews of books from both large and small presses.
The E-sylum also has one of the liveliest numismatic readerships out there, whose questions, answers and comments are just as fascinating and worth reading as the material Homren cherrypicks from the web.
Now, through an exclusive arrangement with the NBS, CoinWeek will bring you the best of the E-Sylum each week, starting next Tuesday.
So, on behalf of CoinWeek, welcome Wayne, and welcome to the E-Sylum!