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Re: So, if the dollar bill were eliminated...

Posted by GP38/R42 Chris on Tue Mar 6 10:25:54 2012, in response to Re: So, if the dollar bill were eliminated..., posted by SMAZ on Sun Mar 4 17:43:53 2012.

In the short term, because they have so many unwanted dollar coins already minted that they ALREADY wasted money on minting, there will be a savings, but in the long run, as all those coins go into circulation, and soon after get horded into everyone's containers where they throw all the other nuisance coins, they will have to spend more money minting them. And as someone else said, while obviously coins last longer, part of that is because they get stowed away in containers for a huge part of their life, unused.
And as someone else said, we don't have a huge plethora of decades old coins in circulation, they are basically the same age dates as many of the bills.
Furthermore, you will always need many more dollar coins in circulation than paper dollar bills, as a large percentage of dollar coins will always remain horded in jars unused, unlike dollar bills which are rarely horded, and actually used instead. So it's not like you are trading a dollar bill equally for a dollar coin, you will probably need at least two or three dollar coins in circulation for every dollar bill.


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