DCA News & Resources

GAO Report: Financial Impact of Issuing the New $1 Coin (2000)

A report on the financial benefits of the $1 coin, commissioned by Rep. Jim Kolbe from the U.S. General Accounting Office (GAO), an independent, non-partisan federal agency tasked with oversight of how taxpayer funds are spent. The GAO found that a budget savings of $522m per year could be realized by switching to the $1 coin, since the lifespan of a dollar bill is only 18 months and the government must re-print $5 billion dollar bills each year.

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