Inside the Fed’s Vault: $1 Billion Worth of Unused Coins (Probably lit with Compact Florescent Bulbs)

This is the wasted junk the Fed comes up with. And they are STILL MAKING these stupid Sacagawea dollars that look like quarters then shoving them into a warehousing vault.

This stupidity and Compact Florescent Bulbs, and the depart of education and green jobs are all absolute nonsense that we pay and pay and pay again for. They should be called the Sack-o-what dollars. ♘

Inside the Fed’s Vault: $1 Billion Worth of Unused Coins | Moneyland | TIME.com

....Each coin costs the government 30 cents to make, so the piles in those vaults have cost the government $300 million so far, according to NPR.

The whole thing started in 2005, when the Presidential $1 Coin Act was written into law. While the legislation seemed to have good intentions, when the U.S. Mint started producing the coins a couple years later, the demand just wasn’t there. I mean, had you even heard of the presidential $1 coins, let alone seen one?

At the same time, the legislation mandated that a certain number of Sacagawea coins be made in conjunction with the presidential coins, which has now amounted to one Sacagawea for every president. And I think we know how well those coins went over. ...

http://moneyland.time.com/2011/06/29/inside-the-fed%e2%80%99s-vault-1-billion-worth-of-unused-coins/#ixzz1Qfoc8Cvl

It looks like NPR is looking for money. I say stop minting these dollars, feed them to NPR each year and when they run out, de-fund NPR (and PBS). ♘