For decades, the United States Treasury Department and the U.S. mint have been trying to get Americans to use one-dollar coins in place of one-dollar bills. It costs twice as much to mint a dollar coin as to print a bill, but the coins last 15 times longer. The economic advantages are self-evident.
The British love their one-pound coins. But for some reason, Americans don’t want to give up their bills. So when the treasury introduced the George Washington one-dollar coin in 2007, they offered an incentive program, making it possible to go online and order a roll of coins— 40 coins for 40 dollars—and pay for them by credit card. The coins would arrive postage-free and easily make their way into circulation.
At first it seemed ...
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