Issue Date: Vol. 51, No. 4, April 2011, Posted On: 3/23/2011
Salon Endorses $1 Coin
Salon, dollar coin, $1 coin, Government Accounting Office, GAO, GAO study on dollar coin, paper currency, vending, vending business, vending machine, vending machine business, payment systems, coin machine business, coin-op news, amusement business, jukebox, pinball machine
SAN FRANCISCO -- Salon.com, the fashionable left-leaning online magazine of culture and politics, endorsed the elimination of the U.S. $1 banknote -- and its replacement with $1 coins -- in a March 10 feature. SEE STORY
The Web publication pointed to the Government Accountability Office'S most recent report coinage and currency, which suggested elimination of the $1 bill and its replacement by the $1 coin could result in savings of $5.5 billion over the next 30 years. SEE VT COVERAGE
In addition to the usual list of practical and economic arguments in favor of switching from paper currency to coins, Salon noted a trendy social reason: "All the cool people are doing it: The European Union, Canada, and Britain have already made the switch."
Salon also said coins are more eco-friendly and that getting rid of $1 bills "could actually make the U.S. economy more green." The magazine article also mentioned that more coins would mean "no more jams in vending machines."