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TELL US: Should $1 Bills be Replaced with Coin?

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 carry them?

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.

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

H Shamir December 03, 2012 at 02:17 PM
Get rid of penny and nickel. NO to coin dollar. Eliminate paper $1, no need for this. Expand usage of $2 bill. Unfortunately even a cup of coffee costs more than $1. Eliminate inconvenient fractional sales tax, and make it even 5% (necessity items) or 10% (for luxuries), which will eliminate need for penny and nickel.
Carol December 03, 2012 at 07:39 PM
Good idea about no longer making pennies...Please! Could we just leave our currency alone!
bill roderick December 03, 2012 at 11:52 PM
that is a good point,you do not get anything for a dollar.
bill roderick December 03, 2012 at 11:56 PM
the govenment could melt down the pennys and use the copper for other coins,quarter and dime have a copper base,
Kathleen DeWitt December 04, 2012 at 12:51 PM
No. Do get rid of the penny though.

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