Tuesday, June 28, 2011
Fed Sits On A Billion Unwanted Dollar Coins
A billion dollars in dollar coins are stacked up in Federal Reserve vaults around the country because Americans don't want them. The dollar coin program has become a waste of money and space. Congress initiated the effort to promote presidential history and to build up interest in dollar coins as substitutes for bills. But the government wildly misjudged demand. And political sensitivities keep the program alive ? even though some of its congressional sponsors acknowledge it has been a flop. Melissa Block talks to Planet Money's David Kestenbaum for more.
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