U.S. stops minting unloved $1 coins
By Claes Bell · Bankrate.com
Monday, December 19, 2011
Posted: 12 pm ET
There's a lot to like about $1 coins. They are more durable than paper money, and they're easier and cheaper to handle. The only problem is, Americans hate using them.
Because of that, the Federal Reserve has literally entire warehouses full of unused $1 coins returned to them by banks because people don't want them. From Robert Benincasa and David Kestenbaum at NPR's Planet Money. The federal government will stop minting unwanted $1 coins, the White House said Tuesday. The move will save an estimated $50 million a year.
I had previous discussed these coins and my order from the U.S. Mint of Lincoln dollars that I have been using everywhere I go. In fact, I have given these coins out as good luck pieces and my Chicago friend just landed a new job after a year of unemployment so I think the luck is working.
So no more new presidential coins to be had. I may need to place another order for more Lincoln coins soon.
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