Ad-Express and Daily Iowegian, Centerville, IA

CNHI/Southeast Iowa

November 30, 2012

Could the dollar bill be on its way out?

A branch of the U.S. government is pushing for a dollar coin instead

(Continued)

But many Americans don’t see it that way, as past surveys indicate that people prefer using dollar bills. Dollar coins seem to be used far less and wind up collecting dust on top of a dresser or being thrown into an empty bottle, never to be used again.

As a result, the U.S. Treasury stopped production of dollar coins in 2011.

However Lorelei St. James, the director of the GAO, said trying to save the government money should be the country’s primary concern rathr than consumer convenience, and if the paper dollar was to be replaced permanently, it could save the U.S. government about $146 million per year and $4.4 billion over a span of 30 years by shrinking production and processing costs dramatically.

“We continue to believe that the government would receive a financial benefit from making the replacement,” said St. James in a statement. “We realize that replacing the $1 note with the $1 coin is controversial. In fact, public opinion has consistently been opposed to the $1 coin.”

Environmental benefits

The GAO also points to the environmental benefits of removing the dollar bill, since coins can eventually be melted and made into new coins when they become overused or damaged.

The agency also says coins can last for almost 40 years, while dollar bills only last up to four years before they start to wear and can be easily torn.

Plus, once dollar bills are unusable, many are dumped into landfills, and the entire process from printing to being discarded costs the taxpayer unnecessary amounts of money, claims the GAO.

Although the GAO makes seemingly good points in terms of cutting back on taxpayer expense and creating a higher level of sustainability in the production of money, the auditing agency will have its work cut out for it when it comes to convincing consumers to make the switch from dollar bills to coins.

Consumer opposition

Text Only
CNHI/Southeast Iowa
  • Darth Vader is polling higher than all potential 2016 presidential candidates

    On the other hand, with a net favorability of -8, Jar Jar is considerably more popular than the U.S. Congress, which currently enjoys a net favorability rating of -65.

    July 23, 2014

  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • An oncologist uses scorpion venom to locate cancer cells

    Olson, a pediatric oncologist and research scientist in Seattle, has developed a compound he calls Tumor Paint. When injected into a cancer patient, it seems to light up all the malignant cells so surgeons can easily locate and excise them.

    July 22, 2014

  • Screen Shot 2014-07-22 at 2.00.42 PM.png VIDEO: Train collides with semi truck carrying lighter fluid

    A truck driver from Washington is fortunate to be alive after driving his semi onto a set of tracks near Somerset, Ky., and being struck by a locomotive, which ignited his load of charcoal lighter fluid.

    July 22, 2014 1 Photo

  • mama.jpg What we get wrong about millennials living at home

    If the media is to be believed, America is facing a major crisis. "Kids," some age 25, 26, or even 30 years old, are living out of their childhood bedrooms and basements at alarmingly high numbers. The hand-wringing overlooks one problem: It's all overblown.

    July 22, 2014 1 Photo

  • Wal-Mart to cut prices more aggressively in back-to-school push

    Wal-Mart Stores plans to cut prices more aggressively during this year's back-to-school season and will add inventory to its online store as the chain battles retailers for student spending.

    July 21, 2014

  • Hospitals let patients schedule ER visits

    Three times within a week, 34-year-old Michael Granillo went to the emergency room at Northridge Hospital Medical Center in Los Angeles because of intense back pain. Each time, Granillo, who didn't have insurance, stayed for less than an hour before leaving without being seen by a doctor.

    July 21, 2014

  • Starved Pennsylvania 7-year-old weighed only 25 pounds

    A 7-year-old Pennsylvania boy authorities described as being so underweight he looked like a human skeleton has been released from the hospital.

    July 21, 2014

  • Fundraiser for soldiers' families approaching

    CENTERVILLE — Justin Zaputil remembers when Master Sgt. Travis Riddick died. The common reactions didn’t feel right. Mourning and then moving on left something undone. It didn’t seem to accomplish what Zaputil and a handful of others wanted. It didn’

    July 21, 2014

  • Malaysians wonder 'Why us?' after second loss of airline jet

    It was all too familiar. Grieving families rushing to airport. The flashing television graphics of a plane's last radar appearance. The uncomfortable officials before a heavy thicket of microphones.
    For many Malaysians, the disappearance of Flight 370 in March has been a long trauma from which the nation has not yet recovered.

    July 18, 2014

  • A quarter of the world's most educated people live in the 100 largest cities

    College graduates are increasingly sorting themselves into high-cost, high-amenity cities such as Washington, New York, Boston and San Francisco, a phenomenon that threatens to segregate us across the country by education.

    July 18, 2014

  • Your chocolate addiction is only going to get more expensive

    For nearly two years, cocoa prices have been on the rise. Finally, that's affecting the price you pay for a bar of chocolate - and there's reason to believe it's only the beginning.

    July 18, 2014

  • Facebook tests button to let people shop from its website

    Members on desktop computers or mobile devices can click a "buy" button to make purchases through advertisements or other posts on the world's largest social network, the Menlo Park, California-based company said Thursday in a blog post.

    July 17, 2014

  • The terrible history of passenger planes getting shot out of the sky

    What is more clear is that, if initial reports are true, this would be the deadliest incident of a civilian passenger plane being shot down in modern memory. In some instances, the causes of the disaster are still shrouded in mystery. Here are some of the worst events.

    July 17, 2014

  • Blue Zones photo Blue Zones hold cooking demonstration at farmers' market

    OSKALOOSA — Two local chefs gave a cooking demonstration at the Oskaloosa Farmers’ Market Tuesday afternoon to show just what you can do with produce you buy there. Renee Edgar and Michael Glesener set up a portable kitchen on the east side of the cit

    July 17, 2014 1 Photo

Obituaries
Featured Ads
Poll

The Iowegian wants readers to think about the 2014 Appanoose County Fair. It starts Monday and wraps up on Saturday with a demolition derby at 8 p.m. So, the question of the week is, "How many days do you plan to go to the Appanoose County Fair?

A. I plan to attend all six days.
B. I plan to attend five days.
C. I plan to attend four days.
D. I plan to attend three days.
E. I plan to attend two days.
F. I plan to attend one day.
G. I do not plan to go to the fair this year.
     View Results
Iowegian on Facebook