Editorials

editorial

US should scrap $1 bill for more economical coin

ASSOCIATED PRESS/US MINT, FILE

Advertisement

Few countries still produce a banknote with as little value as the US $1 bill. Because the bills wear out so quickly, the government has to print about 2 to 5 billion new ones every year. Producing bills instead of relying solely on long-lasting dollar coins means extra expense for the government, extra annoyance when consumers try to use them in finicky vending machines, and extra challenges for blind Americans who have to distinguish between identical-sized bills.

The House of Representatives recently heard testimony that phasing out bills would save $4.4 billion over the next 30 years. In the past, such proposals were easily mocked as small-bore thinking. Getting rid of $1 bills won’t make a big dent on the budget deficit. But $4.4 billion is hardly chump change, either.

Even as other nations eliminate low-denomination money, the dollar bill has hung on through a combination of nostalgia, inertia, and lobbying by paper and ink suppliers like Dalton-based Crane. But there is no good reason to keep the bill. Canada managed to phase out its dollar bill without economic disruption or social unrest. Surely we can do it here, too.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com