$1 billion anyone?

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  1. #1

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    $1 billion anyone?

    The Federal Reserve Stores $1 Billion In Dollar Coins That No One Wants : NPR

  2. #2

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    Strange, why the reluctance to use coins in the US? In the UK we have 1 pound and 2 pound coins, the smallest note being 5 pounds, (US$7.50).


  3. #3

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    I'll buy it off them for $1 million.

  4. #4

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    Just shows how governments are wasteful.


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    Quote Originally Posted by virago:
    Just shows how governments are wasteful.
    Well not really, my understanding is that coins are a lot cheaper in the long run than notes so it just seems to be a problem with acceptance.

    "Once again the General Accountability Office has recently explained to Congress, the Federal Reserve Bank, and the U.S. Treasury that there will be a significant cost-savings if the United States will simply stop issuing dollar bank notes and allow the already existing dollar denomination coins to circulate."
    Last edited by hullexile; 29-06-2011 at 01:10 PM.

  6. #6

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    Yes if they keep producing more that will solve the problem of demand!


  7. #7

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    Quote Originally Posted by virago:
    Yes if they keep producing more that will solve the problem of demand!
    Just remove the dollar bills, that will sort out demand. It is what most countries do.

  8. #8

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    Quote Originally Posted by virago:
    Just shows how governments are wasteful.
    Well, 'government' might give the wrong impression here. It was an act of Congress (with 70 cosponsors in the Senate, according to wikipedia).

  9. #9

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    Quote Originally Posted by er2:
    Well, 'government' might give the wrong impression here. It was an act of Congress (with 70 cosponsors in the Senate, according to wikipedia).
    ??? I would have thought the Congress being the Federal Government of the US of A would be able to 'congressional hearing' it way out of the a bad decision.