[url=http://www.truthdig.com/eartotheground/item/20070316_money_for_nothing/]Money for Nothing
The news that the Treasury will once again sheepishly release a small batch of dollar coins begs the question: Why are Americans so hung up on paper money when countries like Britain and Canada have enjoyed the benefits of coinage for years? Don’t scoff—the Government Accountability Office estimates potential savings at $500 to $747.5 million annually
There’s no reason the United States shouldn’t be using dollar coins right now. Canadian and Australian dollars are made of metal. So are the British pound sterling and the euro. That’s because coins are vastly more durable than paper money. Though a coin costs about three times as much to produce as a bill, it will circulate for an average of 30 years, whereas a dollar bill lasts 22 months, and for the last few of those, has all the charm of a grimy, germy handkerchief.