Dollar coins could save country billions

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Posted: Nov 30, 2012 5:37 PM by Rob Krieger
Updated: Nov 30, 2012 7:03 PM
Source: WBRZ

  Rating: 5.0 (1 vote)

Topics: Coins, Dollars, Bills, Money, Fiscal Cliff, US Government, cash

BATON ROUGE- An idea to exchange dollar bills for dollar coins is resurfacing as the country debates how to trim the budget.

While the coins would cost more to mint than bills, they would last decades longer than paper money. The switch could save the federal government nearly $4.4 billion dollars over 30 years.

Though not many people are ready to say goodbye to their paper money.

"I don't think that's a good idea, I much prefer paper dollars, it's less cumbersome to deal with, to have a pocket full of change wouldn't work for me," said Dwayne Stepter.

Others are already using the circular currency.

"At my office, when I stick a five in the vending machine, I get back dollar coins, I like to use them," said Lindsey deBlieux. "They're easier to carry around in my pocket, they work in all vending machines. I've gotten a few confused looks when I've used them to hand to a cashier, but other than that I think they're great."

The government is also looking at ways to change what coins are made of to save money.

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