By J.P. Koning, includes “In a recent report on U.S. coinage, the General Accountability Office (GAO) made three recommendations: 1) It argued against replacing the $1 bill with a $1 coin. 2) It suggested altering the metal content of the nickel. 3) It cast doubt on the benefits of suspending production of the penny. … By leaving its analysis incomplete, the GAO missed an opportunity to free Americans from the shackles of the penny. The burden will only increase over time as inflation pushes the mint’s labor and materials costs higher but the penny’s face value stays fixed.”
Read the full article on: American Institute for Economic Research