Changing the recipe the U.S. Mint uses to make coins stands to save taxpayers millions each year, but industry groups say it’ll cost them a pretty penny.
George Washington, Abraham Lincoln, Alexander Hamilton, Benjamin Franklin — these people have a number of things in common. They are all famous U.S. figures. (No, they were not all U.S. presidents.) Their faces are all on U.S. currency. And they are all men. Indeed, all U.S. paper currency notes bear the faces of American forefathers
There’s a lot to like about $1 coins. They are more durable than paper money, and they’re easier and cheaper to handle. The only problem is, Americans hate using them. Because of that, the Federal Reserve has literally entire warehouses full of unused $1 coins returned to them by banks because people don’t want them.