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Should $1 Bills be Replaced with Coin? Tell Us

Can we learn to love the $1 coin, if it will save billions?

Americans have resisted the dollar coin. We like our small denominations in paper.

But phasing out the dollar bill and replacing it with a coin will save an estimated $4.4 billion over the next 30 years, Congressional auditors say.

For savings like that, can we learn to love the jingle of dollar coins?

On the pro-side of the change, the coin has a longer shelf life. Coins can last decades, where the paper bills typically have to be retired after four or five years, according to a report in the Boston Globe.

On the negative side, the paper bill would have to be completely eliminated for the savings to accrue. And it would take several years and up-front expenses to produce the coin.

Advocates point to the recent experience in Canada, where the $1 coin has proven a huge hit. And now a $2 coin has been introduced there.

Should the U.S. drop the dollar bills and make the switch? Tell us what you think in the comments section.

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Cathy Gumina Odom December 04, 2012 at 06:03 AM
When I researched break time, Louisa, I think in Calif. it's still considered as "paid" break time, wheras lunch is "unpaid" break time. For police officers and dispatchers in Napa, it's a little different. I think dispatchers are still on paid lunch break or meal break - but someone more familiar with the recent contract would know better. I think that's why you'll see officers eating lunch in their uniforms. I did have a vending machine at Autodesk that gave out $1 gold coins if you put in $5 or $10 bill. I'd just keep change in my drawer for the vending machine. My husband, however, is an incredible pack rat and insists on rolling pennies, nickles, dimes and quarters and bringing them into the bank and depositing them.
Cathy Gumina Odom December 04, 2012 at 06:11 AM
Here's a link on Calif. state law for the meal breaks. I was hired by Autodesk in 2007 as a salaried employee. We weren't paid any over time. California changed or updated the law, and Autodesk made it compliant in 2009 that we were all changed over to hourly employees. We were still expected to do all the same work load and fill out our time sheets. We couldn't work more than 5 hours without taking our meal break. My manager first said I had to take an hour lunch in 2007 and that breaks were unpaid. He wasn't too up on California state law. We were salaried, so we all just put in a lot of hours. Afterwards, many employees just weren't putting down the true hours they were working, because they were scared of layoffs and repercussions. http://www.jdsupra.com/legalnews/supreme-court-of-california-clarifies-ca-73705/
Nate Smith December 04, 2012 at 10:09 AM
At the university I go to, ALL vending machines ALREADY accept dollar coins. Not to mention ALL of the parking meters and even though quarter machine at the union. If you look closely, vending machines also take $2 bills a lot of the time as well. The makers of these machines aren't just now taking this into account. This is nothing new. Anyway, we should sign the petition to stop the printing of $1 bills. Link is below: https://petitions.whitehouse.gov/petition/discontinue-printing-1-bills-facilitate-regular-use-and-circulation-1-coins/jLGkydyV?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl
Nate Smith December 04, 2012 at 10:18 AM
@Steve: I carried 100 of these in my pocket on Black Friday because I am a huge fan of the dollar coin and spreading them around this country. FYI, my pants did not fall down/get a hole in the pockets at any time and I was running them. Therefore, if you find that nine of them will make your pants sound like a wind chime or bust a hole through your pockets, maybe you should try different pants? @Paul, help spread the word. I am trying to tell people about a petition going on right now being sent to the White House. We need 25,000 more signatures by the end of the year. It takes <1 min to sign up for an account and sign the petition. See the link below! https://petitions.whitehouse.gov/petition/discontinue-printing-1-bills-facilitate-regular-use-and-circulation-1-coins/jLGkydyV?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl
Nate Smith December 04, 2012 at 10:21 AM
They are already different in diameter and thickness, not to mention the difference in color.

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