The Wall Street Journal had an article this morning about replacing $1 bills with $1 coins. The Government Accountability Office (ironic name) is recommending that the $1 bill be phased out in favor of longer lasting $1 coins.
A quote from the article:
Last year, the U.S. Treasury curtailed production of dollar coins after finding that more than 40% had been returned to the government unwanted. At the time, government vaults held 1.4 billion such coins–enough to meet demand for a decade.
My personal experience with the dollar coins was a reluctance by merchants to take them. It is not surprising that 40% were returned especially considering how many people were taking them directly back to the bank for deposit.
Would the US Mint restart their campaign to reintroduce dollar coins into circulation? Probably not, especially with free shipping. But for frequent fliers, a return to the $1 coin wouldn’t be a bad thing as we have a financial motivation to introduce coins into circulation.
If you wish, you can vote in the Wall Street Journal’s poll for Yes you are in favor or No you are not. Currently 60% of people are in favor of $1 coins in their poll.