U.S. Suspends Production of Presidential $1 Coins

If you were the federal government, what would you do if you had a billion unwanted and unused dollar coins? Until today, the answer would have been keep spending millions of dollars making more and more of them.

But the Treasury Department has now ordered that production of presidential dollar coins be suspended.

“Minting $1 coins that ultimately end up sitting in Federal Reserve Bank vaults – and serve no useful purpose for businesses, financial institutions and consumers – is simply not a prudent use of taxpayer resources,”  Treasury Secretary Neal Wolin said…

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