The Buck Stops Here

December 20, 2011 in Daily Bulletin

In 2005 Congress launched a program that aimed to encourage the use of $1 coins in the United States. The mint was to produce $1 coins until 2016, however the program has failed and the government has decided to shut it down five years before schedule. Some fascinating statistics from the experiment to encourage the adoption of change include:

  • The dollar coins are so unpopular that US government vaults are packed with 1.4 billion of those coins.
  • There are enough of the coins to meet demand for a decade.
  • 40+% of the coins are returned to the treasury because people prefer not to keep the bulky coins.
  • The move will save taxpayers $50 million a year.

To read other interesting statistics related to the program click here.

Source: Wall Street Journal

Via: Freakonomics