The buck stops here.
No matter how much Washington tries, Americans just don't seem to want to trade in their dollar bills for dollar coins. After the Susan B. Anthony dollar (honoring the women's suffrage leader) and the Sacagawea dollar (for the Native American woman who helped Lewis and Clark during their 1804 transcontinental expedition) flopped, Congress tried again with a series of presidential coins. They feature four U.S. presidents each year, in the order they served, with Chester A. Arthur, number 21, up next. The only problem: "Nobody wants them," says Vice President Joe Biden. About 1.4 billion surplus dollar coins now sit in Federal Reserve vaults because of lack of demand. So the White House is curtailing production, saying the move will save $50 million a year. (Others argue that getting rid of the dollar bill would actually save money since coins last longer.) But coin collectors can breathe a sigh of relief: The presidential dollars will continue to be minted until 2016, just in smaller quantities.
Please note: Some tables or figures were omitted from this article.
|Printer friendly Cite/link Email Feedback|
|Publication:||New York Times Upfront|
|Article Type:||Brief article|
|Date:||Jan 30, 2012|
|Previous Article:||Do you speak Dothraki?|
|Next Article:||Is climate change shrinking animals?|