Community Member
Community Member
kudos icon +

Department of the Treasury

Coins instead of dollars

As we've heard recently on NPR, and seen recently of ABC News, we have literally billions of $1 coins in storage which is costing us almost $500 million a year. At the same time, we have to keep printing billions of $1 paper bills which have a very short useful life and cost of hundreds of millions a year to dispose of. The $1 coin weighs almost no more than a quarter and, at most, you'd only have four or so in your pocket before you used them instead of a five dollar bill for small purchases. Solution: transition, as quickly as possible, to using only $1 coins and take the $1 bill out of circulation as quickly as possible. A BIG savings over the long term, a quick savings in the short term - win-win.



Idea No. 2735