Presidential dollar coins 201311/21/2023 ![]() Whether taxpayers would benefit is another matter.Ī Government Accountability Office study out this spring says that switching to a dollar coin "would provide a net benefit to the government" of about $5.5 billion over 30 years.īut it's not because coins are cheaper. A coin could last 30 years, but a new dollar bill will be ready for the shredder in less than four years.īut if moving exclusively to dollar coins would save money, the question is, whose money? Certainly, issuing the coins and having them circulate, rather than sit in vaults, would create a source of revenue for the government. Paige and other dollar-coin advocates point out that coins last longer than bills, and that's why they save money. You may have heard that dollar coins are more cost-effective than dollar bills. "They use them for meters and all kinds of other things, so I certainly think Americans can adapt." "The idea that, 'Oh, I don't want them jingling in my pocket,' I mean, I don't know, most people carry quarters with them," Paige says. ![]() "I think Americans will definitely embrace the dollar coin if they're just given the opportunity," she says.Īs for the Harris Poll showing Americans don't want dollar coins, Paige says, "I suspect that they just don't understand what the up sides are," including the fact that coins don't need to be disposed of as bills are. Leslie Paige, who represents watchdog group Citizens Against Government Waste, says the government should withdraw the dollar bill from the market and force Americans to use the coins. Still, dollar coin proponents, including some advocacy groups and vending-based industries, are undeterred. Credit: Robert Benincasa, Christina Baird, Nelson Hsu ![]()
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