Today’s Battle of Dollar Coins Vs. Dollar Treasury Notes

20 Feb

Inspired by: “Congress ponders more dollar coin versus note legislation” Steve Roach, Coin World Staff February 18, 2012

It is not only a question of will we ever but more like when will we cease to circulate dollar bills in the United States. On January 31st, 2012, S. 2049 was introduced to congress and sponsored by Senate Democrat, Thomas Harkin of Iowa regarding dollar coins. The bill, in summary, aims to actively take steps toward removing one dollar treasury notes from circulation. S. 2049 is not the first bill of its type.

What are Practical Implications?

The American Tax payers would save “184 million dollars per year amounting to almost six billion dollars over thirty years.  Part of the approximated savings would stem from the estimated life span difference between coins and notes; coins last 17 times longer,” wrote Roach. I am taking the governments word for it; I have not seen the empirical evidence of the life spans.

There seems like a simple solution to all of this, if indeed the cost savings to taxpayers are as substantial as noted; the U.S. Treasury can STOP printing bills and allow the U.S. mint to mint the dollar coins. I guess it’s probably not that easy since we live under a democracy, everything must be voted on… or are there ways around that?

We will visit this topic again within the next few months. Similar bills will be introduced to congress until some action is taken. I would really love to hear some of your thoughts on dollar coins.

For the full article, please see the link below.

http://www.coinworld.com/articles/congress-ponders-more-dollar-coin-versus-note/

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