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Planet Money
Groundhog Day 2024: Trademark, bankruptcy, and the dollar that failed
Feb 2, 2024
On Groundhog Day, the hosts of Planet Money discuss the curse of the day and set out on a quest to find economic stories related to it. They explore trademarks filed on Groundhog Day throughout history, delve into the concept of bankruptcy, share the story of Movie Gallery's bankruptcy, and discuss the failure of the Susan B. Anthony dollar coin in the US.
26:52
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Quick takeaways
- The Susan B. Anthony dollar coin failed to gain widespread acceptance due to its resemblance to a quarter and public resistance to using coins instead of paper dollars.
- Exploring trademarks filed on Groundhog Day reveals smaller, everyday stories that contribute to the larger economy.
Deep dives
The Failed Attempt to Introduce the Susan B. Anthony Dollar Coin
In 1979, the US government introduced the Susan B. Anthony dollar coin in an effort to save money on printing costs for dollar bills. However, the coin faced several challenges. First, it looked very similar to a quarter, which caused confusion among users. Additionally, people were resistant to change and preferred to use paper dollars. As a result, the Susan B. Anthony dollar coin was not widely circulated, and millions of them ended up sitting in storage. Despite its failure as a circulating US coin, the Susan B. Anthony dollar remains legal tender.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode