Fight To Save The Paper Dollar - Page 2

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Author	Replies: 20 / Views: 3,030	Page: of 2

unholyroller Pillar of the Community United States 1903 Posts	Posted 03/27/2012 7:30 pm OK so notes have no seinoriage technically.....is just that the Fed is good at launduring it through Treasury Securities first....lol...either way there is a "money tax" Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 03/27/2012 8:12 pm Quote: ..95% of printed notes are made to replace destroyed notes that don't get turned in Actually most of the retired notes ARE turned in and those are the ones being replaced. So over those 20 years it isn't a $1.50 profit, it's a cost of $1.50 to keep that $1 in circulation. Report this Post to the Staff
War Nickel Valued Member United States 172 Posts	Posted 03/27/2012 9:39 pm George is also on the Quarter. Dollar bills are a waste. Report this Post to the Staff
nod2003 Pillar of the Community United States 3294 Posts	Posted 03/27/2012 10:27 pm Quote: Harkin says in the video that getting rid of paper dollars would mean that fewer trees would be cut down in the service of the dollar, and that coins would be recyclable when their lifecycle of 30 years finally ends. The paper in dollar bills is a combination of cotton and linen, so I would guess that switching would not save a single tree. Actually, it would probably cost more trees seeing as how a lot of the coins would get rolled into paper tubes. Report this Post to the Staff
Foxwoods Man Pillar of the Community United States 4901 Posts	Posted 03/28/2012 07:36 am Quote: Actually, it would probably cost more trees seeing as how a lot of the coins would get rolled into paper tubes. ...and the notes are sent to the banks in paper wrappers. In reality the Gov't is more interested in saving money than trees. Quote: The Government Accountability Office, which issued a report on the cost-savings of a currency switch earlier this year, said that because coins outlast paper currency (which survive about 42 months), the switch would save about $5.6 billion over 30 years. Full article from 6 months ago with video: http://abcnews.go.com/blogs/busines...5-6-billion/ Report this Post to the Staff
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