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Paper Dollar Versus Coin Dollar
By Mike Unser

When paper dollars are squared up against $1 coins, who comes out the winner and why? Clearly, as the "fun facts" money table shows, the one dollar bill wins out as the currency of choice by a wide, wide margin.

$1 Bill versus $1 Coin: Which is the Winner Today?

$1 Bill and Coin Fun Facts
$1
Bills
$1
Coins
Comments
It takes 56 $1 coins to equal 1 pound (lb), or 455 $1 bills.
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$1 coins are much HEAVIER for consumers and businesses.
Paper money is composed of 25% linen and 75% cotton. $1 coins are made mostly of manganese-brass (88.5%) and copper (6%).
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Paper money can be folded and shaped to fit nearly anywhere. Itís CONVENIENT.
A stack of dollar bills one mile high would contain over 14.5 million notes. It would take 804,672 dollar coins to reach a mile.
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$1 bills are LESS BULKY.
The BEP produced 4.147 billion $1 notes in FY 2007. The United States Mint produced 0.941 billion $1 coins in 2007.
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$1 bills are USED DAILY in transactions. Where are all those $1 coins?
It costs ~16 cents to make $1 coins, and each has a life span of about 30 years. It costs ~ 6.2 cents to make $1 bills, and they have a life span of about 21 months.
 
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$1 coins are much more ECONOMICAL.

Although the table lists individual advantages bills have over $1 coins, when taken in totality itís much harder to picture a winning scenario for dollar coins outside of the collector market while paper dollars exist.

In recent news, it was announced that the United States Mint has enlisted the help of GolinHarris to create a campaign promoting the use of $1 coins. Wendy Love, Golin EVP, was quoted as saying,

"We really need a compelling reason for people to change their behavior towards the dollar coin in general.

This campaign is designed to focus on the fact that these coins are 100% recyclable and that they last for a long time, which saves natural resources and money.

The thing we are testing with this campaign is the idea that there is a different sort of benefit with using this coin."

Will a public relations push emphasizing the environmental and economic benefits of coins over paper money work?

Will consumers stop using $1 bills because marketing ads tell them coins make the world a better place to live?

If paper dollar bills are a terribly bad idea today, why doesnít the government stop making them?



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