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What Can Be Done to Fix America's Coin Shortage?
- xsmasher 6y ago> My suspicion is that this divergence could have to do with the ongoing existence of the US penny The penny should be gone. Same for the dollar bill; coins last 30 years vs seven for cloth bills.
- jpkoning 6y agoYes, the penny should be gone. But I disagree about the $1 note. According to the GAO, replacing the $1 note with a $1 coin would actually result in a net loss to the government: https://www.gao.gov/assets/700/697778.pdf https://www.gao.gov/assets/700/697778.pdf
- xsmasher 6y agoThanks for the info; I hadn't heard about the increased life of paper bills.