Department of the Treasury
Showing 5 ideas for tag "coins"
It costs 2 cents to make a penny. Stop making pennies and round amounts to the nearest nickel.
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... more »
Pennies cost twice as much to produce as their value. It is time to stop making more.