I’m a former numismatist. Gave it up … but I’m intrigued by efforts to introduce the new dollar coins. Why aren’t you?
Here’s the quick summary: dollar coins are cheaper to make & maintain than dollar bills. If we just lose the bills and convert to coins, the government (that we pay for) would save millions and millions of dollars.
Here’s what the General Accounting Office said in 2012:
Over the past 40 years, many nations have replaced lower-denomination notes with coins as a means of providing a financial benefit to their governments. GAO has reported five times over the past 22 years that replacing the $1 note with a $1 coin would provide a net benefit to the government of hundreds of millions of dollars annually.
These are the 2013 issues of the Presidential Dollar series. The mint is no longer making them for general circulation … until the backlog from prior years is eased into circulation.
There’s research that says Americans are overwhelmingly in favor of keeping the dollar bills. Convenience is what matters, apparently.
There’s research that says that when they hear of the cost, though, Americans are 2:1 in favor of converting to the coins.
I’m not a big fan of carrying coins in my pocket, but changing from dollar bills to dollar coins? I’m a fan.
And the Presidential series of dollar coins with the edge lettering are really cool. I’m a fan!
Why aren’t you?
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