Congress may soon pass a law to replace the dollar bill with a coin for the simple reason that the bills are too expensive to process. On a typical day buses in Washington D.C. collect over 150,000 dollar bills They are all sorted by hand at an annual cost of $1 millon. The Fedral Reserve could save $395 million a year by replacing the bills with coins. Canada, France and Britain have have already made the switch, but the American public still opposes the change by seven to one.
April 06, 2006
US Dollar Coins (In the past)
Congress may soon pass a law to replace the dollar bill with a coin for the simple reason that the bills are too expensive to process. On a typical day buses in Washington D.C. collect over 150,000 dollar bills They are all sorted by hand at an annual cost of $1 millon. The Fedral Reserve could save $395 million a year by replacing the bills with coins. Canada, France and Britain have have already made the switch, but the American public still opposes the change by seven to one.
