Speaking as a coin collector, our circulating coinage is both incredibly dull and dangerously fiat. It is time for design changes, and I don't mean a bigger picture of Franklin on the $100 bill, or attempts to make the paper money traceable. Excuse my rant - maybe some background is in order.
When our country was founded we broke from the British currency system. Instead of the guinea/shilling/pence system we chose a decimal money system. We defined a "dollar" as 1/21 ounce of gold. Unfortunately, we could not quite break free of tradition, ending up with quarters (derived from Spanish "pieces of eight", two pieces were two bits). In the 1870's there was a modest attempt to institute a real 1-2-5-10 decimal system. But the attempt has to be described as half-hearted, since quarters were still minted while trying to get the public to accept 20 cent pieces. The 20 cent coins were ignored, since the quarters were readily available and familiar.
George Washington declined the offer to become another King George, and declined the chance to have his face displayed on our nation's coinage. Instead, the face of Liberty, our ideal, was to adorn our pocket change. And so it remained until 1909, when the first real person, Lincoln, was placed onto the one cent piece. (The Indian Head cent is a misnomer, it actually was Miss Liberty in a headdress.) Once this exception was made there was no looking back. By 1948 Liberty no longer graced our coins, being replaced by a set of "heroes".
Over the same period of time, another distressing change was taking place. Our coins were being converted from money with intrinsic value to "tokens". The gold, silver and copper, traditional storehouses of value, were removed. Gold in 1933, silver in 1964, and copper effectively in 1982. Now our "money" consists of base metals and paper. Our legal right to redeem US currency in precious metal has been replaced with legal tender laws. Now nothing stands between us and rampant inflation but our confidence in the ability of Congress to pass a balanced budget.
And now the final insult. The Congress claims the public could not "adapt" to changes in the obverses of the coins. This is fearfully reminiscent of the Austrian experience with Maria Theresa Thalers. These were trade coins which Austria minted for trade with the Mideast and African nations. The natives in these lands could not speak or read Latin (the language on the Thalers) so they refused to accept any coins which differed in any way from their early models, for fear they might be counterfeit. So Austria minted the exact same coin for 150 years, right down to the date. Our Congress is treating us the same way, as if we were illiterate and superstitious.
By statute the designs of our regular issue coins may be changed no more often than once every 25 years. With four circulating denominations (penny, nickel, dime, and quarter) we should be seeing a new coin about once every 6 or seven years. However, these coins have been stagnant for 88, 59, 52, and 65 years (OK, except for the Lincoln Memorial reverse change 38 years ago). The presidents have monopolized our metal money long enough. Put them, and other heroes and events, on commemmoratives where they belong. Our circulating coins should have beautiful reminders of the highest ideals and goals of our country.
Coins are works of art!!!! Well, at least we coin collectors think they ought to be. And American coins used to be. Take a look at a St. Gaudens gold piece or a Winged Head of Liberty (Mercury) dime or a flying eagle cent. None of the coins in circulation today compare to these in artistic merit.
Eight years ago the Treasury announced the reverses of our coinage were going to change. This has not come to pass. So, I suppose I should not expect our legislators to have either the foresight or intestinal fortitude to draw the broader stroke, and restore a vision of Liberty to an everyday reminder in our pockets.