Europe has already begun to phase out their lower denomination currency into coin form. It cost an average of thirty cents for the US treasury to produce the one dollar coin, which they in turn sell to the American consumer for a dollar. This would help the treasury by cutting production costs without losing the value of the dollar.
This new form of the dollar bill will most likely not effect those of us that rarely carry cash. Most currency is made and spent electronically. The coin version of the dollar bill will have an effect on the vending machine industry, that would mean refitting every vending machine in the country to accept the coin version of the dollar.
This new version also saves money because it can last in circulation up to 30 years, compared to just four for its paper counterpart. Consumers can expect to see the new coin version begin circulation very soon, the US treasury currently has over a million dollars worth of the coins stockpiled and ready for circulation. So if you’re feeling a bit nostalgic, hang on to your paper money, it may soon be a thing of the past.