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Issue Date: Vol. 51, No. 7, July 2011, Posted On: 7/2/2011

U.S. Storing 1 Billion Unused Dollar Coins

Marcus Webb
dollar coin, Presidential dollar coin, U.S. Mint, U.S. Treasury, coinage, coin machine business, vending machine, vending business, coin-op news

BALTIMORE -- More than one billion unused, unwanted dollar coins are stacked here in an underground vault "the size of a soccer field," according to Planet Money, a National Public Radio blog.

The U.S. Treasury Dept. announced in March that Uncle Sam will be sitting on two billion in unwanted currency by the time the dollar coin minting program ends five years from now, NPR reported.

Observers blame the 2005 Presidential Dollar Coin Act, intended to honor the U.S. presidents by giving each one his own coin. Response by collectors and the public has been underwhelming.

The Dollar Coin Alliance is still lobbying Congress to eliminate the $1 banknote as a means to force more $1 coins into circulation. But as recently reported by VT, the American Amusement Machine Association has dropped the issue from its agenda, saying the $1 coin's day is passed. | SEE STORY

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