kyounge1956
Thinks s/he gets paid by the post
- Joined
- Sep 11, 2008
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"In hidden vaults across the country, the US government is building a stockpile of $1 coins. The hoard has topped $1.1bn... "
US officials and coin experts note that Australia, Britain, Canada and Japan have successfully introduced coins in similar denominations, but only after phasing out paper notes.
Most countries in the G8 have ceased to circulate a note in their base unit of currency.
Because a coin can last four decades while a note lasts only a few years, replacing the dollar bill with the coin could save the US $500m to $700m per year in printing and paper costs.