Why is there a bill in congress to kill the $1 coins? This is the way we should be going & eliminate $1 paper bills. They are expensive to produce and dispose of and have a short life span. Canada has $1 and $2 coins, like many other countries.
Because we have always done it that way... For the $2B+ in dollar coins to take traction, eliminate the paper one dollar bill. Save one dollar bill printing and disposal costs, etc. Save coin storage and handling costs: $650,00 for new storage, $3M for armored truck contractors, $1.4M for pallets and bldg removations, etc. Let's pay down the debt and this is one painless way idea that will help.
This probably needs legislation to make work. Stop printing the ones until the stock plie of dollar coins that the Federela REserve is storiing goes down, to the point the quantity is "normal" inventory. Then restart printing of the dollar bill if you must. Just stopping the presidential dolla coin program is not going to do anything for the coins in storage right now. And I have often asked for dollar coins or... more »
Stop printing the ones until the stock plie of coins goes down, to the point the stockpile is "normal" inventory. Then restart printing of the dollar bill if you must. Just stopping the presidential coin program is not going to do anything for the coins in storage right now. And I have often asked for dollar coins or half dollars a the bank and they say they dont have any. They can't circualte if you can;t get them.... more »
The Presidential Dollar Coin act had the hopes of saving money by a swtich to coins instead of paper. Minting a Coin is cost offection over printing dollar bills. But "bad money drives out good", and so the dollar coins are little used. so here's the suggestion. Each of the 12 regional Federal Reserve Banks is permitted to issue up to 300,000,000 one dollar Federal Reserve Notes each calendar year. AND/OR Each... more »
With the advent of the golden dollar, what is the point of still printing a paper dollar bill? Folks need to be encouraged to use the golden dollar coins and the best way to encourage use is to make it the only game in town. In addition, folks are prone to saving coins (usually in a jar in their house) and may save more money in the form of dollar coins purely out of habit of emptying their coins into that jar.