Over two decades ago, in 2000, the Sacagawea Golden Dollar coin debuted. It was to serve two purposes. One, to honor Sacagawea, the Shoshone woman who traveled with Lewis and Clark on their epic expedition. Two, it was our big push to follow Europe, and Canada in replacing our flimsy paper dollar with a durable coin.
The Sacagawea dollar was the follow-up to the ill-fated Susan B. Anthony “silver” dollar coin. That failed because it was too similar in size and shape to the US quarter.
Hopes were high the Sacagawea dollar would succeed. I too thought it had merit until I went to a ballgame in 2006. I ordered a hot dog. To pay for it I pulled out a roll of Sacagawea dollar coins. I handed the vendor seven of them.
The man looked at them and asked, “What are these?” I said they were US dollars. He shrugged, said, “OK,” and walked away. The coins had been out for six years and the man still had no idea what they were. They were doomed.....
Two years ago, another type of dollar coin was introduced. I’m still trying to make sense of it. Someone in the government thought it would be a great idea to produce a series that would never circulate or rarely see the light of day. Trying to glom onto the fabulous success of the 50 State Quarters and America the Beautiful Quarter Series, the US Mint began releasing the “American Innovation Dollar Series.”
This “Innovation” series is the same size and shape as the Sacagawea golden dollar. On the front it features an image of the Statue of Liberty. To the left of the statue is “IN GOD WE TRUST” and a small cog/wheel meant to represent innovation and industry. To the right is the denomination “$1.” Incused on the edge is the year date and the US motto “E PLUIBUS UNUM.”
That leaves the entire reverse of the coin for images related to innovation. The plan was to have significant inventions and/or innovations from each of the 50 states plus US territories and districts represented on the coins to be issued between 2019 and 2032 – four being released each year. Given the ingenuity of Americans over the past 245 years that shouldn’t be a problem. The trick might be whittling down the possibilities to just one idea for each state.
So far, 10 coins have been issued. You may not have heard much about them for several reasons. First, as I mentioned, the 50 State Quarter Series was a smash success. But you can’t continually go back to the well before it runs dry and people tire of the “same ‘ol, same ‘ol”. The “innovation” series is essentially borrowed interest.
Second, the designs have ranged from fair to lackluster. Some even appear almost flat and two-dimensional. The latest coin just issued for New Hampshire is a prime example. It salutes what someone deemed to be the state’s “most prominent” innovation – the in-home video game system and its inventor, Ralph Baer.
Forget that New Hampshire had the world’s first free public library. Or, in 1775 it was the first state to declare full independence from England. Worse, the coin has the appearance of a token for use at a Chuck E. Cheese kid’s pizza restaurant.
Lastly, if coins don’t circulate, who is going to know about them? The only way to obtain them is directly from the US Mint where buyers pay a hefty premium over face value.
None of the above is a good formula for luring the public or hobbyists to jump on board and collect the coins. In truth, none of it appears very innovative. But, the Mint has another 11 years to make it work.
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