America has introduced a dollar coin before, but the GAO says those efforts failed because the government didn't also take the dollar bill out of circulation, as Canada and the United Kingdom did when they traded paper for metal. "Officials from both [Canada and the U.K.] told GAO that this step was essential to the success of their transition and that, with no alternative to the note, public resistance dissipated within a few years."
Strangely, the majority of the public stands opposed to the dollar coin. Even when told it could save the country billions, 64 percent of Americans surveyed said they wouldn't want to see the dollar bill go away.
For more information on how to save money by changing our money,click here to watch a great anti-penny rant.
Tuesday, March 1, 2011
$1 bills y'allllll
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