GAO Recommends Switch to the $1 Coin
- The Government Accountability Office (GAO) has recommended the United States eliminate the $1 note and switch to the $1 coin five times over the past 20 years.
- The GAO has estimated savings between the current $184 million per year to $522 million per year, and their recommendation remains the same today. Eliminating the $1 bill will save the taxpayers money.
- The most recent GAO report, released in March of 2011, states that United States will save $5.5 billion over 30 years. This averages out to $184 million per year.
- When our neighbors in Canada made the switch to the $1 coin they saved 10 times initial estimates.
- Click here to read the full GAO report from March of 2011.