The American Empire in a Changing World


Saturday, December 8, 2012

''Falling $1 Bill Demand May Limit Coin Savings''

From Bloomberg

''Dollar bills may fade from U.S. circulation even if lawmakers ignore a government agency’s opinion that switching to coins would save money.

As the CHART OF THE DAY shows, the number of new bills printed in the latest fiscal year fell 31 percent from a year earlier, according to data compiled by the Treasury Department. The drop to 2.02 billion in the year ended Sept. 30 reflected a trend since fiscal 2000, when the total peaked at 5.19 billion.

“The popularity of ‘everyday’ paper money” has declined as more people use credit cards, debit cards and Internet-based services to pay bills, Nicholas Colas, chief market strategist at ConvergEx Group, wrote two days in a report. He defined everyday money as $1 through $50 bills.''

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