Circulate ‘em!
That’s an interesting question. So coins cost 30 cents to product and last 30 years and bills cost about 10 cents and last about 4 years—so in the long-term, we would save money. My solution is simple: for every dollar bill that the Fed takes out of circulation, replace it with a coin. Lower supply of dollar bills will naturally increase the demand for the dollar coins. The government gets to save money and we, as taxpayers, should be happy.
Pinyo, Moolanomy
The U.S. Government should stop making the $1 bill and force everyone to start using the coins that they have been stockpiling. We could be like the Canadians. Maybe we can even get our own $2 coin, too!
Hank Coleman, OwnTheDollar.com
Do some good.
I would create a national online media library where Americans can access online education, ebooks, how-to videos, health and safety information, and documentaries to encourage self-learning and literacy. Let the library of Congress own it and lots of NGO’s and PBS work to manage content and/or spend some on National IT infrastructure so that say, the DMV in every state can connect.
Wendy, CuteGeek
I’d buy a billion lottery tickets so I could win a million bucks and help fund massive state budget deficits in the process.
Sam, Financial Samurai
Teach a lesson.
Let citizens throw them at congressmen everyday they fail to reach an agreement to reduce the deficit and raise the debt ceiling.
Kevin, Thousandaire
If congress wants to continue producing them when no one actually wants them, I think the members of congress should be paid exclusively with dollar coins. Maybe they will realize how impractical the coins really are.
Bob, Christian Personal Finance
Have a little fun!
There are plenty of practical things I could do, but I would much rather play the best prank ever and fill somebody’s office with all 1 billion of them… and then watch from afar as they open their door, of course.
Megan Tice, Money Aisle Blog
If I were in charge of these coins, I’d make a whole family to accompany Lady Liberty. What better material to make additions to the Statue of Liberty than coins featuring past presidents?
Jesse Michelsen, Money Crashers
From the youngest personal finance blogger we know:
You could give one to every K-12 student who doesn’t miss a day of school, one to every teacher who teaches those kids, one to the lunch ladies and the bus drivers, and still have some left to get more gym teachers and art teachers and music teachers, and then if there are any left, you can buy Tom’s shoes as gym shoes so kids in other countries will get a pair of shoes so they can go to school, too.
7-year-old Maya, CuteGeek
From our own Credit Advisor:
I’m going to have to vote up/digg/Like/+1/and high-five Maya’s suggestion.
Id also allocate the money towards higher education, to stop the 35% hike in tuition fees that public universities are seeing every semester. So one day, when kids like Maya get to college, education can be a necessity for everyone rather than the privilege of the rich or debt-ridden.
Justine Rivero, Credit Advisor for Credit Karma
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