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GAO: U.S. Coins: Benefits and Considerations for Replacing the $1 Note with a $1 Coin

November 1, 2012

Pursuit's Take

GAO reported in February 2012 that replacing $1 notes with $1 coins could potentially provide $4.4 billion in net benefits to the federal government over 30 years. The overall net benefit was due solely to increased seigniorage and not to reduced production costs. Seigniorage is the difference between the cost of producing coins or notes and their face value; it reduces government borrowing and interest costs, resulting in a financial benefit to the government.

Media Coverage

Wall Street Journal: U.S. Should Replace Dollar Bills With Coins, GAO Says

Slate: Save the $1 Bill!

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