Better World Club

Saturday, September 25, 2010

Put Your Money Where Your Mouth Is. Literally.

Replacing Dollar Bills with One Dollar Coins Would Save Green All Around

Just Don't Put the Money in Your Mouth...It's Filthy

The United States has been stockpiling one dollar coins since 2007 when a law passed that requires the US Mint to produce four new presidential coins each year until Congress legislates otherwise. There are already over one billion dollars worth of coins ready for circulation, but nobody seems to want to use them.

The poor performance of the coin, which countries like Britain, Canada, and Japan already use successfully in comparable denominations, isn't just for force of habit: a negative feedback cycle at the cash register has customers afraid to use dollar coins because they think they might not be accepted as payment and cashiers afraid that customers won't accept them as change.

But! ''Because a coin can last four decades while a note lasts only a few years, replacing the dollar bill with the coin could save the US $500m to $700m per year in printing and paper costs.'' Not to mention all of the water and energy savings. Money doesn't grow on trees, kids.

So get out there and really put your money where your mouth is! Fill your pockets with shiny dollar coins, use them for incidental purchases, and request them as change. We'll save ourselves some green and help green our money production at the same time.

Read the full BBC News article from which this report is adapted here.

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