Americans should be carrying more change and fewer dollar bills, congressional lawmakers and currency experts said on Thursday.
Replacing the dollar bill with a $1 coin “would provide $4.4 billion in net benefits to the government over 30 years,” Lorelei St. James, director of physical infrastructure issues at the Government Accountability Office, told members of the House Financial Services subcommittee on domestic monetary policy and technology.
Subcommittee members said changing the metallic content of coins could save money.
Both ideas resemble changes implemented by Canada. In 1987, Canada replaced its $1 bill with a coin nicknamed the Loonie for Canada’s national bird, the loon, which appears on the coin.
House panel hears proposals to save on currency costs in US
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