Write at least 2-3 paragraphs answering the following questions. What is the cur
ID: 1227061 • Letter: W
Question
Write at least 2-3 paragraphs answering the following questions.What is the current policy on the issuance of the $1 coin? How much does it cost each year to print dollar bills? How long do they last? What are the advantages of using dollar coins? What are the disadvantages? In light of the current federal budget deficit do you agree or disagree with the current policy on the issuance of $1 coins?
Write at least 2-3 paragraphs answering the following questions.
What is the current policy on the issuance of the $1 coin? How much does it cost each year to print dollar bills? How long do they last? What are the advantages of using dollar coins? What are the disadvantages? In light of the current federal budget deficit do you agree or disagree with the current policy on the issuance of $1 coins?
Write at least 2-3 paragraphs answering the following questions.
What is the current policy on the issuance of the $1 coin? How much does it cost each year to print dollar bills? How long do they last? What are the advantages of using dollar coins? What are the disadvantages? In light of the current federal budget deficit do you agree or disagree with the current policy on the issuance of $1 coins?
Explanation / Answer
It is the U.S. mint of Treasury which produces $1 coins and is distributed by the branches of the Federal Reserve Bank. Government want that people should use more of $1 coin instead of $1 bill, so they also issued presedential coins but people preferred using notes so after 2011, the Treasury has stopped producing coins for general public and is producing specifically for collectors.
The cost of producing a $1 note is around 5.5 cents. In 2012 2022400000 $1 bill were produced so the cost will be approximately 111 million dollars. Average life of a dollar bill is 18 months.
The advantages of using dollar coins are
The disadvantage of using dollar coin is its high cost
If public starts using $1 coin instead of bill then government will be saving approximately 150 million dollars per year which is a good amount of saving so I agree with this policy.
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