Living in a World Without the Dollar Bill
For years, the money buzz has been putting the lowly penny out of its, and our, misery due to lack of interest. What can you get with one cent any more? The continued existence of the penny has forced most of us, me included, to create some sort of ‘penny stash’, a drawer, bottle, or compartment with old Abes kicking around waiting for the right opportunity to use them. In reality, a gaggle of pennies is only good for one thing – attracting more and more stragglers. They never get spent, only add up.
But rather than take aim of the obsolete one center, auditors in the U.S. Congress now say the real drain is 100 times superior to the penny – the dollar bill. Experts say doing away with the lowest form of paper currency entirely and replacing them with dollar coins would save taxpayers about 4.4-billion-dollars over the next 30-years.
A Government Accountability Office representative says though the one-dollar coin is unpopular, it could stay in circulation for 30-years, while paper bill have to be replaced every four-to-five years or so.
How unpopular are the coins that have been tapped to replace the Washingtons?
In the past five-years, the U.S. Mint has produced 2.4-billion one-dollar-coins. Most are stored in the federal reserve, and production on them was suspended about a year ago.
I remember as kid the old Eisenhower silver dollars were very cool, and very impractical unless you were a degenerate gambler with a serious slot machine addiction. Later the Susan B. Anthony dollar coins were introduced by some brainiac who thought they should be the same size as a quarter!
Now we have gold-looking dollar coins, but they’re still impractical. Who really wants EXTRA change to lug around. Aren’t teenagers pants droopy enough without the weight of ten dollars coins as opposed to ten single bills? Ladies aren’t your purses already heavy enough with the 47 other items you’re toting around?
It just goes to show that government auditors are all about saving money, even they apparently have no idea about how people want to spend money.