National Coinage Proposals: Limited Public Demand for New Dollar Coin or Elimination of Pennies
GGD-90-88
Published: May 23, 1990. Publicly Released: May 23, 1990.
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Highlights
Pursuant to a congressional request, GAO reviewed proposed changes to the U.S. currency and coinage system, focusing on the: (1) feasibility and effects of replacing the paper dollar with a dollar coin; and (2) possibility of eliminating the half dollar.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| Congress should proceed with the proposed dollar coin legislation only if it and the Administration can reach and sustain a joint resolve to eliminate the dollar note and stand up to an expected negative public reaction. |
Closed – Not Implemented
|
No action is planned by the committee. |
| Congress should proceed with the proposed dollar coin legislation only if it funds a sophisticated and sustained public awareness campaign. |
Closed – Not Implemented
|
No action is planned by the committee. |
| Congress should proceed with the proposed dollar coin legislation only if the Bureau of the Mint is able to produce a coin readily distinguishable from the 25-cent coin but still acceptable to the vending industry. |
Closed – Not Implemented
|
No action is planned by the committee. |
| Congress should proceed with the proposed dollar coin legislation only if the Mint can produce sufficient quantities of the coin to meet all demand within 5 years of the coin's introduction. |
Closed – Not Implemented
|
No action is planned by the committee. |
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Topics
Cost effectiveness analysisCurrency and coinageForeign currencyFuture budget projectionsMonetary policiesPrecious metalsPrinting costsProposed legislationPublic relationsFederal reserve system