Congress's Super-Committee Consider Ending The Dollar Bill To Save 5.6 Billion

Evelyn Guzman – October 30 , 2011

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U.S.A.-The recently-assembled super-committee tasked with saving the US from financial disaster by year’s end wants to trade dollar bills for dollar…coins? Wait, don’t we already have some of those that nobody uses?This controversial plan has been floated before but has met with a tepid response from most Americans and strong lobbying efforts from both paper and mining industries (and the states in which those industries reside). However, a recent study by the Government Accountability Office found that the coin’s longer lifetime—4.2 years vs. 22 months for bills—would translate into a $5.6 billion savings over the course of 30 years.