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Message:: [QUOTE="Witty38, post: 1582425, member: 34290"]From the new article:  "As of May, the Fed had amassed $1.4 billion in $1 coins in its vaults because demand for the coins remains weak." In my opinion, that is why the Mint is hording these Presidential dollars, otherwise, they would have melted them already. The $1 bill is obsolete. Dollar coins are virtually indestructible, fully recyclable, and have a lifespan of 30 or more years. It's simply a better, more <a href="http://articles.baltimoresun.com/2012-04-25/news/bs-ed-dollar-coins-20120425_1_process-coins-dollar-coins-worn-out-bills#" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://articles.baltimoresun.com/2012-04-25/news/bs-ed-dollar-coins-20120425_1_process-coins-dollar-coins-worn-out-bills#" rel="nofollow">efficient</a> product. But there is so much politics surrounding this.  Nobody wants to suggest the elimination of jobs that is necessary to make the $1 bill. There's opposition from the ink manufacturers that make the ink for the dollar bill. And don't forget the the paper supplier jobs. Paper for U.S. currency is made by Massachusetts-based Crane & Co.  And Sen. Kerry wanted to do away with the coins to preserve his state's industry.  It's not about practical matters, it's about preserving jobs! The fact is: When Canada transitioned to a dollar coin 25 years ago, the government realized savings more than ten times initial estimates.[/QUOTE]