[ WASHINGTON ]

Congress Looks at Doing Away With the $1 Bill in Favor of $1 Coins


Published: Friday, November 30, 2012 at 11:10 p.m.
Last Modified: Friday, November 30, 2012 at 11:10 p.m.

Americans have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what's best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers $4.4 billion over the next 30 years. Vending machine operators have long championed the use of $1 coins because they don't jam the machines, cutting down on repair costs and lost sales. But most people don't seem to like carrying the coins. In the past five years, the Mint has produced 2.4 billion Presidential $1 coins. Most are in storage, and production was suspended about a year ago. Lawmakers also are exploring how the Mint could use different metals to reduce the cost of making coins.

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