• 2005 Congress passed a bill to establish coin currency as a bigger force in America’s day-to-day transactions. Their plan was to produce $1 coins featuring, progressively over time, the full run of American Presidents. Republican Rep. Mike Castle sponsored the legislation.
• 2011 The bill’s language has meant that the coins are still in production despite broad unpopularity — so much so that the Federal Reserve is sitting on an ever-expanding billion dollars worth of unwanted currency. Wanna talk wasteful spending? Here’s exhibit A. source

Posted by Chris Tognotti • Permalink