The Hill reports that House Republicans are once again arguing to replace dollar bills with dollar coins:
Rep. David Schweikert (Ariz.) and two other House Republicans — including supercommittee co-chairman Jeb Hensarling (Texas) — introduced legislation last week aimed at retiring the paper dollar. Schweikert said his bill would save billions of dollars over the next few decades by transitioning to a dollar coin in four years, or as soon as $600 million worth of dollar coins are in circulation.
Schweikert said 3 billion paper dollars are shredded every year, and the constant need to destroy these dollars and create new ones is a cost the government can no longer bear. He said metal coins would last longer and therefore save money.
To be sure, in the context of the federal budget, switching to dollar coins would represent a small savings, but it’s a sensible proposal for everyone other than Senators who represent paper interests in Massachusetts.
The benefits are real.
- The dollar coin would represent a real savings for both the government and the private sector, as 47 other nations have discovered.
- Dollar coins cause only 1/3 the greenhouse gas emissions of paper bills.
- Dollar bills are unimaginably filthy and are capable of spreading disease.
Let’s go ahead and save a few hundred million dollars…as long as they are coins.