Some of the benefits of doing this are: No more confusion between a quarter and a golden dollar. This means that one area of resistance to use the dollar coin is eliminated. Dollar coins have lower life cycle costs than paper one dollar bills. It takes care of a major issue in trying to eliminate the 5 cent coin. (You could make the 5 cent coin form something other than nickel but it would have to get a new nick... more »
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 »
The case to halt minting the Presidential Dollar Coin is well documented in the media. http://www.npr.org/2011/06/28/137394348/-1-billion-that-nobody-wants and http://www.npr.org/blogs/money/2011/07/13/137795995/how-frequent-fliers-exploit-a-government-program-to-get-free-trips First, the minting Presidential Series dollars has cost $300 million since it was mandated by Congress in 2005. Minting money like this is... more »
NPR reports that more than one billion one-dollar coins are stacking up at the Federal Reserve, and legislation mandates that ever more of these presidential coins must be minted. The problem: they just won’t circulate. Recommend that the program be modified to produce just enough for collector demand or the program be canceled altogether. We are wasting $250 million plus producing coins that we have to store and can't... 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.