Gallup poll - part of the Mint's $12 million for making the dollar coin work?
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Last week I got a call as I was making dinner from the Gallup polling organization, and the survey was specifically about dollar coins. They asked about 10 minutes worth of questions ranging from do you know what images are on the dollar coins to have you ever used one or received one in change. Basically the answers were the same as we've always known, no one uses these since it's easier to use dollar bills. It was just interesting since I know Gallup is not cheap, and this must have something to do with the mint's marketing efforts on the coin, but to me it's just a waste, since someone at the mint must already know the answer!

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As I recall, they asked where I could find them (the bank and post office), if I would use them (not as long as we have dollar bills), can they be used anywhere (I think so, except a lot of vending machines like my pop machine at work), stuff like that. They also asked at the end if I was a collector (yes), if I collected these (no), if I ever ordered coin sets from the mint (yes). They asked a lot of questions on how familiar you were with them, like listing a bunch of things (people, images, etc.) and if you thought they were on the dollar coins, etc.

Edited by jtryka

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You should have told them that the designs for the Prez $'s are ugly and the coin should be larger so that the date/mm, IGWT & EPU could be returned to the obverse/reverse. Why shouldn't the coin be larger? After all, this small handful of men did serve in the highest office of our government.

 

Chris

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Sounds as though the Mint paid Gallup a bunch of money for some information which they should already know if the management of the Mint ever goes to the bank or talks to anyone but themselves. They are acting like General Motors', head-in-the-sand, patented management style.

Edited by Oldtrader3

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The Mint was given a few million dollars to improve circulation. In true government style, they have to justify what they do. Since they have the appropriations to do this, the Mint hires the Gallop folks to do a survey for them. Since Gallop is the gold standard, they have what could be seen as definitive results. From those results, they can plan how to spend the money.

 

It doesn't matter what every one knows to be true. That is not going to get them past the front door of the capital. Having quantitative results from polls and actions will.

 

BTW: The US will not stop printing $1 notes until the production that would be lost could be supported by other means--like printing foreign currency. House Majority Leader Stenny Hoyer (D-MD), House Campaign Finance Leader Christopher VanHollen (D-MD), Former Chairman of the Government Reform Subcommittee Tom Davis (R-VA), and Del. Eleanore Holmes Norton (D-DC) will not allow anything that will reduce the production capacity of the Bureau of Engraving and Printing and cause constituents to lose jobs.

 

The BEP is not a well run organization. By now, they should have figured out how to sell themselves to foreign governments. However, one thing that foreign governments are looking for are the printing of polymer notes. BEP is unprepared for that request. If you ask the BEP why they cannot print polymer notes, they say that they are "looking into it."

 

It's not like the BEP cannot get the money they need. Their Public Enterprise Fund (PEF), which is where their seigniorage is deposited, makes 4 to 6 cents for each note printed. Sure the BEP has operating expenses, but not to the extent that would bankrupt the PEF! Using 6-cents as the cost to print the notes and 2007 production, BEP produced 4.147 billion $1 notes giving them a seigniorage of $248.8 million. Given the total of 9.12 billion notes ($181.651 billion), the percentage of lost seigniorage would be 2.28 percent. They can certainly afford the upgrades if those numbnuts in the Treasury would just ask congress to allow them to spend it!

 

But like everything else in your nation's capital, it's all about the politics!

 

Scott :hi:

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