Government Accountability Office Says Eliminate the Dollar Bill

Finance expert Mike Periu writes about how replacing the dollar bill with a dollar coin could save the government millions.
President, Proximo, LLC
November 28, 2012

The Government Accountability Office (GAO), the audit, evaluation, and investigative arm of the United States Congress, has recently issued a recommendation to eliminate the dollar bill and replace it with a dollar coin. This would save the U.S. government about $147 million per year over 30 years. More importantly, many industries like mass transit and vending machine operators also favor this change as it would reduce costs and allow for faster, more streamlined payments. Given the frequency of use of dollar bills, using coins would add decades to the life of each dollar minted as a coin. 

Learn more at the Wall Street Journal.

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President, Proximo, LLC