A $1 Problem

1. INTRODUCTION: MAKING MONEY. With a title like this, one might expect to find described here some unsolved problem assigned a decidedly paltry bounty by a strapped mathematical institute, or perhaps a pet question from an eccentric, but thrifty, individual. Indeed, this is an article about how to make money, but it is not at all about some scheme to earn income. Rather, it concerns how actually to make money, specifically, how to design a one-dollar coin. The United States has had little success in the last quarter century with its dollar coins. The Susan B. Anthony dollar was introduced in 1979, but with its round shape, silvery appearance, and milled edge, it was too similar to the quarter to gain much acceptance in everyday commerce. It was discontinued after only three years (though it appeared again briefly in 1999). In 2000, the Sacagawea dollar was put into circulation , and this coin is certainly more distinctive, with a golden color and a smooth edge. However, it has never gained wide acceptance in the U.S., no doubt in large part because one-dollar bills continue to be produced by the Bureau of Engraving and Printing. In contrast, Canada replaced its dollar bills with a very successful coin in 1989, the " loonie. " It is bronze in appearance, has no milled edge, and sports a polygonal shape. Its eleven sides give it a distinctive feel when fumbling for change at a bus stop or a newspaper stand. So perhaps redesigning the U.S. coin to have a unique shape would aid its acceptance in everyday circulation. Suppose then that you have been appointed by the Department of the Treasury to oversee the creation of a new one-dollar coin for circulation in the U.S. You quickly realize that many parties have great interest in the design and shape of the new coin.