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.
Additional Materials:
- Full Report:
Contact:
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.
GAO found that: (1) the government could save $318 million annually if it replaced the dollar bill with dollar coins, if dollar coins were widely accepted and used; (2) the savings would accrue primarily by reducing production and processing costs and the need to borrow from the public to finance the debt; (3) surveys and past conversion experiences indicated that widespread use would be unlikely unless the government eliminated the dollar bill in the face of a negative public reaction; (4) there is no comparable economic argument for eliminating the penny or the half dollar because both are profitable; (5) while retail businesses and the public recognized the inconvenience of pennies, the problems inherent in rounding off retail transactions to the nearest 5 cents were troubling; and (6) the European countries that have eliminated their lowest denomination coins all did so because production costs exceeded the coins' face value.
Matters for Congressional Consideration
Status: Closed - Not Implemented
Comments: No action is planned by the committee.
Matter: 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.
Status: Closed - Not Implemented
Comments: No action is planned by the committee.
Matter: Congress should proceed with the proposed dollar coin legislation only if it funds a sophisticated and sustained public awareness campaign.
Status: Closed - Not Implemented
Comments: No action is planned by the committee.
Matter: 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.
Status: Closed - Not Implemented
Comments: No action is planned by the committee.
Matter: 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.
Explore the full database of GAO's Open Recommendations
»
Apr 26, 2018
-
2018 Annual Report:
Additional Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Other Financial BenefitsGAO-18-371SP: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018. -
Government Efficiency and Effectiveness:
Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Other Financial BenefitsGAO-18-498T: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.
Apr 24, 2018
-
Office of Navajo and Hopi Indian Relocation:
Executive Branch and Legislative Action Needed for Closure and Transfer of ActivitiesGAO-18-266: Published: Apr 24, 2018. Publicly Released: Apr 24, 2018.
Apr 18, 2018
-
2020 Census:
Continued Management Attention Needed to Mitigate Key Risks Jeopardizing a Cost-Effective and Secure EnumerationGAO-18-416T: Published: Apr 18, 2018. Publicly Released: Apr 18, 2018. -
Immigration Courts:
Observations on Restructuring Options and Actions Needed to Address Long-Standing Management ChallengesGAO-18-469T: Published: Apr 18, 2018. Publicly Released: Apr 18, 2018.
Apr 12, 2018
-
Federal Real Property:
DHS and GSA Have Not Implemented Recommendations to Strengthen the Management of DHS Headquarters ConsolidationGAO-18-484T: Published: Apr 12, 2018. Publicly Released: Apr 12, 2018.
Apr 11, 2018
-
Elections:
Observations on Voting Equipment Use and ReplacementGAO-18-294: Published: Apr 11, 2018. Publicly Released: Apr 11, 2018.
Mar 30, 2018
-
2017 Lobbying Disclosure:
Observations on Lobbyists' Compliance with Disclosure RequirementsGAO-18-388: Published: Mar 30, 2018. Publicly Released: Mar 30, 2018.
Mar 22, 2018
-
Federal Real Property:
Agencies Make Some Use of Telework in Space Planning but Need Additional GuidanceGAO-18-319: Published: Mar 22, 2018. Publicly Released: Mar 22, 2018. -
National Mediation Board:
Progress Made on GAO Recommendations, but Actions Needed to Address Management ChallengesGAO-18-301: Published: Mar 22, 2018. Publicly Released: Mar 22, 2018.
Looking for more? Browse all our products here