Is The One Dollar Bill Going Away?
Americans don’t like the $1 coin, about as much as kids like school and homework. They may not know what’s best for them either.
But on the other hand, congressional auditors say that doing away with dollar bills completely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years. Could this be the end of the dollar bill as we know it?
The vending machine industry have long preferred $1 coins because they don’t jam the machines, cutting down on repair costs and lost sales.There’s only one problem, most people don’t seem to like carrying them. In the past five years, the U.S. Mint has produced 2.4 billion Presidential $1 coins. Most are stored by the Federal Reserve, and production was suspended about a year ago. get ready for this…we could see less expensive combinations of metals like steel, aluminum and zinc used for coins and taking dollar bills out of the economy and replacing them with coins. End of the world? maybe? What do you think? Keep paper $1’s or go to coins if it will help the economy?