November 28, 2012
Updated Nov 28, 2012 at 5:17 PM PDT
Is it time to get rid of the dollar bill? One nonpartisan arm of Congress says that the government could save billions if it started using $1 coins instead of bills.
The Government Accountability Office reports that coins are in circulation much longer than bills and would end up saving the government a lot of money. The GAO estimates that a $1 bill, which costs about five cents to make, only lasts for 4.7 years. A coin would cost a little more to produce, about 30 cents for a $1 coin, but would last more than 30 years.
The GAO says that using $1 coins instead of bills would save the government $4.4 billion over the next 30 years.
There is much more to this story from the Inquisitr, to read about it CLICK HERE.
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