The $1 question

After the failures of the Susan B. Anthony and Sacagawea dollar coins, the government is trying again with a dollar coin honoring U.S. presidents.

The Federal Reserve has ordered 300 million Washington dollars. Every three months, another design honoring the next president to serve will be rolled out.

The new dollar coin is actually the 14th produced by the Mint since 1794. They included the Peace dollar in 1935 and the Eisenhower dollar in 1979.

The dollar coins could save the country millions in printing costs if people decide to use them. But they didn't use the Susan B. Anthony and Sacagawea dollars. Dollar coins sitting in bank vaults don't help the economy.

The vending machine industry prefers coins to paper money because paper jams in the machines too easily. Vending machines that already accept the Sacagawea coins will accept the Washington dollars as well.

In Europe, euro coins are produced in eight different denominations, including coins worth 1 and 2 euros. Europe also has euro banknotes.

Canada got rid of its $1 bill when it began making dollar coins. That may be the only way the $1 U.S. coin ever will be accepted, but no move is afoot to discontinue making paper dollars.