1-Dollar Coin:

Reintroduction Could Save Millions If It Replaced the 1-Dollar Note

T-GGD-95-146: Published: May 3, 1995. Publicly Released: May 3, 1995.

Additional Materials:


Office of Public Affairs
(202) 512-4800

GAO discussed the proposed reintroduction of the 1-dollar coin. GAO noted that: (1) the federal government could save an average of $395 million annually by substituting the 1-dollar note with a 1-dollar coin; (2) the $395 million estimate reflects average annual savings over 30 years; (3) there would be negative savings in the first year of production totalling $23 million primarily due to the Bureau of the Mint's start-up costs; (4) the introduction of the Susan B. Anthony 1-dollar coin did not gain wide public acceptance because the 1-dollar note remained in circulation and the 1-dollar coin too closely resembled the quarter; (5) successful conversion to the 1-dollar coin depends on the elimination of the 1-dollar note, a reasonable transition period, coin design, adequate public awareness of the new coin, and administration and congressional support; (6) major Western economies all use a coin for monetary transactions to save currency production costs; and (7) although these countries faced initial public resistance to this currency change, the public accepted the coins after the elimination of the dollar note.

Sep 28, 2016

Sep 27, 2016

Sep 26, 2016

Sep 23, 2016

Sep 21, 2016

Sep 7, 2016

Aug 30, 2016

Aug 11, 2016

Jul 22, 2016

Looking for more? Browse all our products here