I've read many news stories recently complaining about how much it costs the government to stockpile dollar coins that aren't being used. If you want to get the coins into circulation and out of the warehouses, get the money out to military commisaries. Substituting paper money with dollar coins will be easier on military bases, as the Forces are used to taking orders, and trying out new things with no questions asked.... 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 »
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 »
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.