Man on the Edge: Dump the Dollar?
If Congress has its way, we could be saying goodbye to our beloved Washingtons, and hello to a shiny new Statue of Liberty. Congress is considering replacing the paper dollar exclusively with dollar coins. The move could actually save us nearly four and a half billion dollars over the next 30 years, for a couple of reasons. First, paper money wears out over time, and usually has to be pulled from the market about every five years and replaced. Second, dollar coins can be minted with inexpensive metals, making them both cheap and durable, as they will last about 30 years. So is it time to dump the dollar? Or are you just not ready to say goodbye to the American icon?
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