Quote:
Originally Posted by NatCh
The only question I have is are we sure that the coins are cheaper to make than the paper bills? I suppose they would be in the long run, given the greater durability of coins vs. paper bills ....  |
Yes, that is it exactaly. It does cost more to mint a $1 coin than to print a $1 note. However, the $1 note is about 18-20 months in circulation. Also, it is about 40% or more of the money created by the treasury. Where as the $1 coin has basically an unlimited life time in circulation.
Found this on a web site... (yes everything on the internet is fact)
It costs ~16 cents to make $1 coins, and each has a life span of about 30 years. It costs ~ 6.2 cents to make $1 bills, and they have a life span of about 21 months.
BOb