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..yet they're still cranking out more of them, because congress says so
Quote:
Politicians in Washington hardly let a few minutes go by without mentioning how broke the government is. So, it's a little surprising that they've created a stash of more than $1 billion that almost no one wants.
Unused dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.
And even though the neglected mountain of money recently grew past the $1 billion mark, the U.S. Mint will keep making more and more of the coins under a congressional mandate.
The pile of idle coins, which so far cost $300 million to manufacture, could double by the time the program ends in 2016, the Federal Reserve told Congress last year.
..yet they're still cranking out more of them, because congress says so
has anyone even seen one of these 'presidential series' coins in real life?
i haven't.
Neither have I, but I'll take 'em if they want to give them away. I don;t care what form a billion dollars comes in, just as long as it's legal tender.
We've got all of them that have been released to date (15 I think).Some we got from the bank shortly after their release dates, some we bought from the mint, some we got on e-Bay. We even got two in change at a Starbucks. There managers got rolls of them from the bank and thought it would be fun to give them out, increased his business with the coin collectors in the area for awhile there.
There is talk of drawing down or stopping the production paper dollars and if that happens these presidential dollar coins will be everywhere.
We've got all of them that have been released to date (15 I think).Some we got from the bank shortly after their release dates, some we bought from the mint, some we got on e-Bay. We even got two in change at a Starbucks. There managers got rolls of them from the bank and thought it would be fun to give them out, increased his business with the coin collectors in the area for awhile there.
There is talk of drawing down or stopping the production paper dollars and it that happens these presidential dollar coins will be everywhere.
they've been talking about discontinuing the production of paper dollars for years now, but it hasn't happened. until it does, these coins aren't going anywhere. it's too bad, because the presidential series was kind of a neat idea...
Well as long as we are getting to spend the money we deposit in the Federal Reserve bank when not mint even more of them. as a matter of fact why not mint $1k coins.
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Controversies dontcha know.
