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Dollar coins can save U.S. money
A $1 coin
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Stacey Vanek-Smith: We throw around a lot of big numbers on this show -- millions, billions, trillions. But this next bit of news is a little more on the level of most of us: dollar coins. Andrew Jackson's visage will grace the new ones coming out next month. Maybe the former president will have better luck filling our pockets than Sacagawea did.
The dollar coins had a lot of trouble catching on. But the U.S. Mint is hoping to change all that and make dollar coins . . . well, a dime a dozen. Jeremy Hobson reports.
Jeremy Hobson: There actually is a good reason why the Mint is trying to get us to use dollar coins instead of bills. The Government Accountability Office says Uncle Sam could save $522 million a year in production expenses if we did. That's because the coins last 30 years, while the bills don't even last 30 months.
But no one seems to use the coins -- not even this coin proponent:
Robert Whaples: I haven't used a dollar coin in who knows how many years.
Wake Forest University Economist Robert Whaples says there are logical places to use the coins:
Whaples: The place that I've seen it be in circulation the most usefully has been, you know, when I go to some large cities and they'll be using it in their subway system or something like that.
The U.S. Mint is launching an effort next month to expand the dollar coin's usage above ground at cash-heavy businesses like fast-food joints and retail mega-stores like Wal-Mart. Spenders in Charlotte, Portland, Oregon, Austin and Grand Rapids will be the guinea pigs for the Mint's latest trial.
In Washington, I'm Jeremy Hobson for Marketplace.
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Really, Lin? Maybe you should check www.snopes.com before you spout such nonsense. In spite of years worth of e-mails that say so, this is FALSE.
Hasn't anyone noticed that the coin is missing something? It does not have the words "in God we Trust". I'm not using the coins until that statement is on our US Currancy. This is just another way for some ppl to move us farther and farther away from God. I'm not a Christian radical, but I believe our country is facing some lean times ahead and we could use the Lords help in our finances, job, and wars.
American Silver Eagles are the real dollar coins. Tell your boss you will take a huge pay cut if he pays you in these. This will lower your income taxes and protect you from the ongoing decline in value of the federal reserve notes. When you buy things, negoiate a much lower price by paying in American Silver Eagles.
I love the dollar coin. Its extremely convenient to carry around as opposed to ripped wrinkly dollar bills. Im happy the new Phoenx Light Rail system accepts and dispenses them. It shows a movement towards a dollar coin that this contry has never seen. Also working at a bank, I see how discusting dollar bills really are. Dollar coins are the way to go. Its convinient for having them in your car as well for drive through purchaces.
We need a movement of $1 coin supporters to 1) use and promote the coins and 2) petition Congress to discontinue production of the $1 bill. While we are at it how about discontinuiing production of the penny, probably one of the most ridiculous uses of metal in today's world. At the end of this year's celebration of Lincoln's 200th birthday on the backs of new pennies let's make a big deal of RETIRING them. Then let's have a big celebration of the greenback dollar and then retire them
WRITE YOUR CONGRESSIONAL REPRESENTATIVES AND SENATORS, THE NEW PRESIDENT, AND THE SECRETARY OF THE TREASURY!! IT'S THE ONLY WAY TO GET THIS CHANGE ENACTED.
DOES ANYONE USE THE PRESIDENTIAL DOLLAR COINS?
I think they look great and I use them everywhere I can with the help of a little change-holder called Portsou that I picked up online.
Check it out www.portsou.com
Go dollar!!!
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