SAVE Award 2011 Ideas

Simply stop minting the penny. It wouldn't be missed and the government would save vast amounts in acquisition, labor, distribution, and mgt costs.

It costs 2 cents to make a penny. Stop making pennies and round amounts to the nearest nickel.

While I appreciate the intent, the production fo the Presidential Dollar coins are a complete waste of resources. There is no legitimate reason to produce a new coin and then put them in storage. Evenmore, there is no reason to build new storage space to store coins that are not going to be circulated.

The dollar coin is useless because, by touch, it is indistinguishable from a quarter. The British Pound is a useful coin because it's a convenient unit AND easy to find in your pocket. Changing the weight and size would allow continuance of the coin production, but put useable dollars into circulation. The easier it is to spend a dollar, the faster this recovery will be.

It is expensive to maintain paper money, it wears out quickly and coins last longer. I have heard the excuse that the American people don't want dollar coins - well, too bad. If the paper dollar is stopped printing, then the American people would adjust and move forward. Every other country around the world has done it and there has not been any civil wars that I am aware of over changing a bill to a coin. It is a fact... more »

Call it the Small Change Act, the most a person would ever have to contribute on a single transaction would be 9 cents.

I once read that the cost of making the penny and nickel, both outweigh the actual value of the coin.

My proposal is similar to what some banks are starting to offer, in a keep the change program.

On all *CASH* purchases, the total price, after sales tax, would be rounded up to the nearest amount,... more »

Pennies cost twice as much to produce as their value. It is time to stop making 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 »

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 »

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 »

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 »