So there is a report out there that Congress is again looking at getting rid of the dollar bill in favor of the dollar coin that we have so many of yet not a single person will admit to using them. This is really because the average lifespan of a dollar bill, a one dollar bill is only about eighteen months, where as the dollar coin has a lifespan of twenty to thirty years, depending on frequency of usage.
In contrast, the next most used bill, the twenty, lasts approximately 25 months in circulation, or just over two years, but I have also come across series 1969, 1974, and 1990 twenties in the last year, meaning they can go quite a bit longer. I haven’t seen anything newer than a 1995 one dollar bill in the last year. Oh, by the way, the average lifespan of a hundred-dollar bill, about twenty-one and a half years. They wear down only as fast as you use them, and unless you’re dealing in kilos of powder chances are ones and twenties go through your wallet fairly quickly.
The government wants to save some scratch so they go towards the dollar coin, which costs an estimated ten cents to make, six of which are in the metal of the coin. Here is the thing, Congress has met about abolishing the dollar bill almost every year since the dollar coin was re-introduced in 1999. Yes, in 1999, not 2000. The Susan B. Anthony dollar, one of the ugliest coins ever was minted last in 1999, then the Sacagawea dollar, a testament to lack of artistic merit and political correctness was shoved out the door the next year. People hated them both, no one wanted to use them so they didn’t and the Congress decided to tack on a Presidential commemorative series to the coins, making so many of them we ran out of places to store the damn things no one wants.
Guess what, Canadians were resistant to the abolishment of their dollar and two dollar bills in favor of the loonie and the, yes really, toonie, but they have no problems with them now. The difference is that this is ‘Merica and we won’t put up with that crap, we’d apparently give up most of our essential freedoms and drive off the fiscal cliff, but attempt to take our bills and we’ll freak out. Additionally, there are one tenth the people in Canada than are in the U.S.
Add to that the fact that Congress hasn’t done anything, I mean anything in the last five-six years and you have a recipe for a stalemate over this dollar coin thing. They’ll show up and pontificate and lash each other with words and then sit down and pat their fat bellies as they wallow in their own crapulence. Despite the reports, your dollar bill is safe, this is just posturing to make the vending machine lobby happy.