When was the one dollar coin introduced?

Answer 1

The U.S. has issued dollar coins since 1794. By the mid 1800s they were mostly used in the West because at the time they had considerable purchasing power and were being minted near the silver mines.

The coins were large (38mm) and heavy (almost 27 gm) so usage dropped off and the denomination was discontinued from 1935 to 1971. The government made an attempt to revive the large-sized coin in 1971, making them from cupronickel instead of silver, but the size and weight limited their use to casinos and other places with slot machines.

In 1979 the Mint reduced the size of the coin to its current 26 mm and 8.1 gm. However they failed to research other countries' introduction of small-sized coins. Instead of using a distinctive metal and design, they minted them out of the same metal as quarters and used a similar design. The coin was a flop because it was too easily confused - people often got change for a quarter even though they'd spent a dollar.

Finally in 2000 the mint learned from prior mistakes and introduced the new gold-colored (brass, actually) coins we now have.