Senators Continue Push To Ultimately Replace Dollar Bill With $1 Coin

In spite of decades of studies showing the long-term cost benefits of dollar coins over Federal Reserve Notes, and the fact that most of the world’s leading economies have already switched to coins for similar denominations, the U.S. has remained steadfast in its use of printed dollar bills. So once again, lawmakers in the Senate are making the push to gradually make the transition from print to mint.
Iowa Senator Tom Harkin, along with John McCain of Arizona, Mike Enzi of Wyoming, Oklahoma’s Tom Coburn, and Mark Udall of Colorado, have introduced a second stab at the Currency Optimization, Innovation, and National Savings Act (yes, it spells COINS), which would promote and ease in the distribution of dollar coins. It also sets a timetable for dollar coins to replace Federal Reserve Notes of the same denomination.

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