02-16-2007, 09:34 PM
Paul has it right. Coins WILL replace the bills. It's only a matter of time.
"The use of the Golden Dollar coin in lieu of the paper dollar would ultimately save money. The General Accounting Office’s (GAO) stated potential savings of up to $500 million in a report issued September 2002, which was calculated on the premise that the U.S.Government cease production of the paper one-dollar bill. However, the United States Dollar Coin Act of 1997, which authorizes the Golden Dollar, did not call for the elimination of the paper dollar. Consequently, dollar coins and dollar notes co-circulate in the marketplace. The United States Mint does not have the authority to change existing legislation thus, full cost savings cannot be realized."
http://www.usmint.gov/mint_programs/gold...?flash=yes&action=SacFaq#eliminate
The cost of ink alone is worthy of the change.
As for strippers, time to move to the $2 bill, as Bob and Tom suggested.
"The use of the Golden Dollar coin in lieu of the paper dollar would ultimately save money. The General Accounting Office’s (GAO) stated potential savings of up to $500 million in a report issued September 2002, which was calculated on the premise that the U.S.Government cease production of the paper one-dollar bill. However, the United States Dollar Coin Act of 1997, which authorizes the Golden Dollar, did not call for the elimination of the paper dollar. Consequently, dollar coins and dollar notes co-circulate in the marketplace. The United States Mint does not have the authority to change existing legislation thus, full cost savings cannot be realized."
http://www.usmint.gov/mint_programs/gold...?flash=yes&action=SacFaq#eliminate
The cost of ink alone is worthy of the change.
As for strippers, time to move to the $2 bill, as Bob and Tom suggested.