Better processing, cashless payments makes dollar bills last longer

Since the last time the Government Accountability Office studied the cost savings of dollar coins versus paper bills, the results have flipped.

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Despite several past attempts to introduce them, dollar coins have never quite caught on with the American public, or with Congress. That was true even when projections showed the government could save money by eliminating the dollar bill.  It’s even more true now, as the Government Accountability Office’s latest study on the issue showed switching to a dollar coin instead of the paper version would cost the government up to $2.6 billion over 30 years. Andrew Von Ah, director of physical infrastructure issues at GAO, joined Federal Drive with Tom Temin to talk about the new projections.

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