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 »
The cost to make a penny coin today exceeds one cent, so the US govt is losing money on every penny it makes. Coordinate a coinage change to elminate the penny and the paper dollar bill. This will lead to universal use of the dollar coin which lasts longer than a paper dollar bill. This will result in savings on printing dollar bills. All cash registers would still have the right number of compartments for current coins... more »
Pennies cost twice as much to produce as their value. It is time to stop making more.
Simply stop minting the penny. It wouldn't be missed and the government would save vast amounts in acquisition, labor, distribution, and mgt costs.