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New Mint Program Pushes $1 Coin Usage

WASHINGTON, D.C. — With four new presidential $1 coins set to appear this year, the U.S. Mint is now focusing on getting people to use the coins at businesses. The U.S. Mint is launching a business-to-business pilot program in metropolitan Washington, D.C., to increase the use of presidential $1 coins and to stimulate business and bank customer demand nationwide.The local market initiative will focus on key stakeholders within metropolitan Washington, D.C., whose involvement will be pivotal in identifying and overcoming barriers to circulation. The initiative will emphasize that the $1 coin is not just for collectors, but also a convenient alternative for many transactions. In addition to getting businesses to use the coins, the Mint is also trying to gather feedback about why businesses may be resisting them.“We will be working with several local retailers and banks in a concentrated area to facilitate the increased circulation of presidential $1 coins,” said Ed Moy, U.S. Mint Director. “We want to see more of these coins used in daily transactions and given out as change like other denominations.”Jingling in your pockets in 2008 will be presidential coins bearing the images of James Monroe, John Quincy Adams, Andrew Jackson and Martin Van Buren — the fifth, sixth, seventh and eighth presidents of the United States. A new coin will go into circulation every three months in 2008 beginning with the James Monroe coin. 

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