A dollar is a dollar is a dollar.
But the traditional $1 bill could soon go the way of the eight-track, incandescent light bulbs and handwritten letters.
A proposal to wean Americans from the $1 bill – and instead rely on $1 coins – is circulating through congressional corridors as a way to save up to $4.4 billion over the next three decades.
“We may be moving to a completely paperless society for monetary transactions, so small coins may be all that is left for the few of us who still shy away from the electronic world,” said Allan Saxe, an associate political science professor at the University of Texas at Arlington.
In the face of the “fiscal cliff,” federal officials recently talked about saving billions of dollars by switching from $1 bills to $1 coins – even though Americans haven’t seemed to embrace the coins.