Tuesday, December 13, 2011

Presidential Coins

From Yahoo News:
"Presidential dollar coins victims of budget crunch"

Sorry, President Chester Arthur. Nobody wants you. Searching for savings in a tough economy, the White House said on Tuesday that the U.S. Mint would scrap automatic production of millions of dollar coins bearing the image of deceased American presidents at a saving of $50 million a year. "As will shock you all, calls for Chester A. Arthur coins are not big," said Vice President Joe Biden, referring to the country's 21st president, who died in 1886. "I'm not commenting on his presidency, but it just is not very high." The U.S. Treasury estimates there are almost $1.4 billion worth of dollar coins sitting in the vaults of the Federal Reserve, with 1.6 billion more coins scheduled to be minted over the next five years.

^ This was a waste from the very start. The fact that most people had no idea about these coins in the first place shows no one will care that they won't be around anymore. ^

http://news.yahoo.com/presidential-dollar-coins-victims-budget-crunch-192510623.html

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.