Oct 21, 2008 23:31
According to my trusty USA Today (well, it's actually USA Yesterday) the US Mint is spending 12 million dollars to promote the use of the $1 coins. The Mint estimated (in 1995)that replacing $1 bills with coins would save the taxpayers $500 million dollars a year (as the coins have a much greater life expectancy.) The Mint is promoting availability and use of the coins in pilot programs in Charlotte, Austin, Grand Rapids and Portland, OR.
The mint also contends that the great life expectancy and recyclebility of the coins make them the "Green Choice." To this point, I am uncertain, as the metal does need to mined, and mining is generally not a a very "green" process.
Factoid: The mint is currently storing $97.2 million uncirculated Sacajawea coins, minted in 2001 and 2002.
Factoid: The new $1 coins have images of presidents and the project is designed to release 4 presidents, in order (don't know what will happen when they get to Garfield), per year. The coins are gold tone, and have the statue of liberty on the reverse.
Canada and Europe have the obvious answer, take the bills out of circulation. We will not use the coins if we have the bills. Duh. We will just have to give strippers $5 tips.
stupid