Wednesday, December 5, 2012

Should the $1 Bill Go Away?

Can you imagine having to count out coins every time you wanted to break a $5 bill? That could be the future for Americans if a request by the U.S. Mint is granted.
The federal government is currently exploring the possibility of doing away with the $1 bill as a way to save taxpayers money, according to The Huffington Post.
While there would be some upfront costs involved in making the switch, the measure could save as much as $4.4 billion over the next three decades. That savings comes from the fact that coins stand up to the test of time longer than paper bills, the Post reports.
A report is currently being put together for Congress by the Mint. It explores not only a change in $1 currency, but also the metals used in the making of coins.
While other countries like Canada use $1 coins, previous introductions of them in the U.S.

Go to www.srqtimes.com for latest Sarasota News and Real Estate

No comments:

Post a Comment