Are $1 Coins A Better Option Than $1 Bills?
5th January 2013
Kolbe points to a survey by the Tarrance Group and Hart Research that concluded that U.S. adults favor a switch to a dollar coin by a two-to-one margin.
Uh-huh. And yet…
According to the Board of Governors of the Federal Reserve, right now the U.S. Treasury has about $1.4 billion in unused and unwanted $1 coins. That’s so much inventory the federal government recently announced that it wound end its program of producing presidential $1 coins – or at least suspend it.
‘Unwanted’ by whom? The American public, obviously; they’re the ones refusing to use them. Which casts some doubt on the claim that two-thirds favor a switch.
January 6th, 2013 at 02:09
I got 3 $1 coins from a vending machine last week. I bought some little thing the next day and the clerk said, “That’ll be $1.”, so I tossed her one of the coins. She looked at me and said, “What am I supposed to do with this?”
January 6th, 2013 at 14:12
To which the only appropriate response is ‘Pay your taxes with it. Render unto Obama the things that are Obama’s.’