Change May Be Ahead For U.S. Coins

The maker of the nation's coins is looking for some change.

The U.S. Mint, responding to gripes among experts and collectors that current coin designs are stagnant and boring, is exploring making over all U.S. coins, except the quarter.

The idea of new coin designs, while still in its infancy, was discussed in a report by a Mint task force in late August.

The task force cited "one fundamental objective" in proposing a redesign of the coins: "The Mint must endeavor at the beginning of the 21st century to provide Americans and the world circulating coinage with designs and themes that appropriately reflect the pride of today's America."

Coin collectors would welcome that very much, American Numismatic Association director Ed Rochette told CBSNews.com.

"Most of our coins are almost a century old in design," he said. "Can you imagine using the same postage stamp for almost a hundred years?

"They've been around a little too long."

The report suggested that a new nickel be introduced in 2003, followed by a new dime in 2004, half-dollar in 2005 and penny in 2006.

At this point, Mint officials are considering changes to the people and pictures on the coins, rather than changes in their size, shape or what they are made of.

Potential themes for redesigned coins are things American, among them: freedoms, innovation, vistas, arts and culture, classic coins, the West, presidents, heroes and heroines, women, endangered species, animals and Nobel Prize winners.

"It's really in the sort of very, very early stages of the process. We're discussing the possibilities of coin designs," said Mint spokesman Michael White. "The designs have been static for so long."

While the nation's paper money has gotten makeovers intended to thwart high-tech counterfeiters, a coin redesign would be aimed at making the coins more interesting and aesthetically pleasing, White said. In general, counterfeiters are much more interested in making bogus bills than phony coins.

"It would be great to have change in our pocket change. It is long overdue," said Donn Pearlman, spokesman for the Professional Numismatists Guild, a nonprofit organization of rare-coin and paper money experts.

The current designs are old. Abraham Lincoln's image was put on the front of the penny in 1909 to commemorate the 100th anniversary of his birth. But the back of the penny was changed in 1959, when the Lincoln Memorial replaced stalks of wheat. The nickel, bearing Thomas Jefferson's profile on the front, was designed in 1938; and the dime, showing a portrait of Franklin D. Roosevelt on the front, was designed in 1946. The half-dollar carrying John F. Kennedy's bust was designed in 1964.

Rochette said coins are calling cards, often given as souvenirs to people in other countries when Americans travel.

"We look at coins as history in your hands," he said. "Many countries use coinage to put their best foot forward."

In fact, "I'd even go a step forward and say, eliminate the presidents," he said.

"What's happened is it depends on who's in power at the time. 'You can't take our president off but you can take their president off.'"

Just the hint of that is already ruffling feathers on Capitol Hill.

The Treasury Department agency suggested changing the back of the new nickel to commemorate the bicentennial of the Louisiana Purchase and the Lewis and Clark expedition.

It recommended replacing Monticello — Jefferson's home outside Charlottesville, Va. — with the image of an American Indian and an eagle facing westward. The image of Jefferson, who made the 1803 Louisiana Purchase and sponsored the Lewis and Clark expedition, would remain on the front of the coin.

Worried about the loss of Monticello, Virginia lawmakers pushed through the House legislation that would recognize the redesign to honor the Louisiana Purchase and Lewis and Clark for the years 2003, 2004 and 2005. But in 2006, Monticello would return to its permanent place on the nickel.

For a makeover that involves different designs for a coin over a multiyear period, congressional approval is required, the report said. The Mint has more leeway on one-time design changes, but officials say they'll work closely with the Congress on any changes.

The task force recommended that a panel of experts, including representatives from Capitol Hill, historians, artists, educators, numismatists and business people, be created to oversee the coin makeover process.

The report didn't mention specific design recommendations for the penny, dime or half-dollar.

A change was suggested, however, for the beleaguered dollar coin, which features an image of Sacagawea — the Shoshone Indian woman who helped guide Lewis and Clark on their expedition — on the front.

The task force suggested "a 50-state bird circulating commemorative coin program" for the back of the dollar coin, known as the Sacagawea or the Golden Dollar for its golden color. That change would require congressional approval, the report said. Mint officials said it was premature to discuss how a 50-state bird program might work.

Launched with great fanfare two years ago, the Sacagawea dollar coin has failed to become a staple in Americans' change purses and in the nation's commerce. For now, the Mint has stopped making Sacagawea coins for circulation, but it still produces some for collectors.

The 50-state quarter program, started in 1999, has been quite popular. With the upcoming introduction of the Mississippi quarter, the Mint will have honored 20 states.