GAO: Ending Paper Dollars For Coins Saves $4.4 Billion Over 30 Years

Posted by | February 15, 2012 17:27 | Filed under: Top Stories

The General Accounting Office says minting the coins costs more, but they don’t have to be replaced as often.

…Lorelei St. James, director of GAO’s physical infrastructure issues department, said it costs the government 15 cents to produce a coin.

The $4.4 billion in savings is slightly lower than a GAO estimate last year that said savings could top $5.5 billion…

The Treasury Department says that switching to all coins could end up costing the private sector money, since vendors would have to adjust.

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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