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Make Room For The Dollar Coin By Getting Rid Of The Penny

by LiveModern Webmaster last modified Jan 04, 2012 02:09 AM
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by last modified Sep 28, 2011

Pennies are so cheap that Andre Balazs covers the floor of the Standard Hotel with them. Image credit Lloyd Alter Some have suggested that the drive to replace the dollar bill with a coin is driven by western mining interests, while the bill is being defended by eastern paper interests. But Jim Kolbe, the former Republican Party Congressman from Arizona and now honorary head of the Dollar Coin Alliance behind the COINS act that would pull the dollar bill out of circulation in America. (see Pocket Change We Can Believe In: Republicans Introduce Bill To Retire Dollar Bill ) Back in 2002 he introduced the Legal Tender Modernization Act to eliminate the penny. Doing so makes more sense than ever; the penny just isn't worth much anymore. A nickel is worth today what a penny was in 1972. Some more reasons for eliminating the penny:... Read the full story on TreeHugger






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