WASHINGTON, D.C. — The United States Mint reported to Congress today that since its debut a year ago, the Golden Dollar has won popular support, especially as Americans discover the convenience of using the coin in everyday transactions.
The 21-page report details the marketing and promotional campaign that helped educate the public and build strong awareness of the Golden Dollar since the coin’s release on Jan. 27, 2000. Some 700 million Golden Dollars were circulated in the first year, seven times the initial projection of 100 million coins.
“The Mint expects that even more will make their way into commerce once the novelty of collecting a 2000-dated, golden-colored coin tapers off and 2001-dated coins make their way into people’s hands,” the report said.
Congress in 1997 authorized the Mint to produce the new Golden Dollar to replace the Susan B. Anthony dollar coin that was introduced in 1979. The Golden Dollar features the image of Sacagawea, the Shoeshone woman who accompanied Lewis and Clark on their expedition nearly 200 years ago.
“Just as Sacagawea was instrumental in the success of Lewis and Clark in charting new territory in the 19th century, she will proudly lead the American public to a more practical and convenient way to pay for their purchases in the 21st century,” the Mint said in the report delivered to Congress on Friday.
The Golden Dollar is also making money for America. In fiscal year 2000, the Golden Dollar made a profit of $800 million, part of the $2.3 billion profit that the Mint returned to the U.S. Treasury last year.
According to surveys, marketing studies, and focus group research, the Mint also found that:
* 83 percent of Americans are aware of the Golden Dollar;
* Nearly 78 percent said they supported the decision to issue the coin;
* 42 percent of American adults have received a Golden Dollar; and
* 57 percent said they would use Golden Dollars in their transactions once it becomes more commonly circulated.
The report also identifies the eight business sectors distinguished as target markets for increased usage of the Golden Dollar: financial institutions, retailers, grocery stores, fast food restaurants, the vending industry, transit authorities, government agencies, and the entertainment industry.
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