Thursday, July 31, 2014 05:39pm
North Adams, MA now: 68 °   
Send news, tips, press releases and questions to info@iBerkshires.com
The Berkshires online guide to events, news and Berkshire County community information.
SIGN IN | REGISTER NOW   

Home About Archives RSS Feed
Follow iBWatercooler on Twitter
Treasury Halts Wasteful Presidential Coin Program
Staff Reports On: 05:28PM / Tuesday December 13, 2011
Important
1
Interesting
1
Funny
0
Awesome
1
Infuriating
0
Ridiculous
0
Taxpayers — and Crane & Co. — can sigh in relief that the unwanted and unloved dollar coin is kaput.

The U.S. Treasury on Tuesday announced it has suspended the program.

Sen. Scott Brown, who with Sen. John Kerry pushed a bill earlier this year to end the program, said the move will save taxpayers at least $50 million.

"For decades, special interests have pushed the wasteful dollar-coin program on the American people," he said. "They readily admitted that Americans would only use dollar coins if the popular dollar bill was eliminated — a move that would have wiped out hundreds of Massachusetts jobs. I introduced legislation to stop the coin charade and President Obama's actions today will accomplish that goal."

More than a $1.4 billion in coins have been piling up in vaults, costing millions in storage for hard money Americans won't use. Banks have been returning some 40 percent of unused coins to the Federal Reserve. The program was to run through at least 2014 and honor every deceased president (they're only up to James Garfield); a limited number of coins will be produced for collectors.

Neal S. Wolin, deputy secretary of the Treasury, posted this on the Treasury page on Tuesday:

"One area where there's an additional opportunity to cut taxpayer costs is reducing the current surplus inventory of $1 coins. That's why we're announcing today that — effective immediately — the United States Mint is suspending the production of new Presidential $1 Coins for circulation."

That's good news for Crane in Dalton, the only maker of U.S. currency paper.


0 Comments
     
News Headlines
Magic Treehouse Author Invokes Invokes Joy of Learning
Bankruptcy Court OKs BMC Bid for Northern Berkshire Healthcare Assets
North Adams Implements Higher Parking Fines
North Adams Cemetery Commission Advises Rates, Rules
National Grid Meets With Local Officials Over Power Outages
Action Continues at YMCA Long Course Nationals
Murphy, Berkshire Force Win World Series Opener
Mount Greylock Invited to MSBA's Feasibility Stage
Images Cinema Hires New Executive Director
Classical Beat: Concerts Blossom Throughout the Region

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (4)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (2)
manufacturing (9)
media (6)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (12)
radio (2)
real estate (7)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
March 2014 (2)
January 2014 (1)
December 2013 (2)
November 2013 (3)
September 2013 (1)
August 2013 (1)
Tags:
North Adams Social Media Crane & Co. Store Opening Expansion Berkshire Enterprises Statistics Qualprint Bj's State Berkshire Chamber Pittsfield Berkshire Creative Berkshire Living Berkshire Chamber Of Commerce Statistics Wmeco Baldwin Unemployment Walmart Great Barrington Gas Prices Excelsior Breakfast Jobs Currency Auction Talkberkshires Williamstown Flood Unemployment Small Business Sabic Merger Adams
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Adams Co-Op, South Adams Bank Merger Approved
Covanta's Pittsfield Facility Gets High Marks from OSHA
Excelsior Brings Greeting Card Co. To North Adams
New Dog Training Center Open in North Adams
White Hart Inn For Sale for $5M
Simmons Expanding Into Customized Lines
Real Estate Panel to Tour S. County, Pittsfield Sites
Williamstown Chamber Seeks Input on Future Role
Recent Entries:
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move
North Adams Big Y Celebrates Renovations
House Repeals 'Tech Tax'
Sleepy's Closes in North Adams


View All
Williamstown Chamber @MadMacs
Attendees at Wednesday's Williamstown Chamber Nite at Mad...
Pittsfield Ethnic Fair 2014
North Street in Pittsfield had a double-dose of block...
LaFesta Baseball 2014
The LaFesta Baseball Exchange, celebrating 24 years, pits...
Adams Polish Picnic 2014
Adams residents enjoyed traditional Polish food and music...
Mingo's Sports Bar & Grill...
Over 50 cars packed into the Mingo's Sports Bar & Grill...
BYP Networking at Naumkeag
The Berkshire Young Professionals met at the historic...
Pittsfield Shakespeare...
Pittsfield's Shakespeare in the Park free performances at...
Lanesborough Kids Fire Camp...
Lanesborough Fire Department held its annual Kids Fire Camp...
Lanesborough Fire Drill
The Lanesborough Fire Department trains on basement fires...
Pittsfield Polish Picnic
Crowds lined up for golabki and kapusta at the annual...
North Adams Kids Emergency...
The North Adams 21st Century Community Learning Center...
Gather-in Festival 2014
The 42nd annual Gather-In festival was held at Pitt Park in...
BFAIR Mini-Golf Fundraiser
Berkshire Family and Individual Resources held its annual...
Lanesborough Seeds of Harmony...
Bradly Farm in...
Hinsdale Block Party
The Hinsdale Fire Department hosted its annual block party...
Arrowhead Country Craft Fair
Arrowhead, Herman Melville's home in Pittsfield, is hosting...
Williamstown Chamber @MadMacs
Attendees at Wednesday's Williamstown Chamber Nite at Mad...
Pittsfield Ethnic Fair 2014
North Street in Pittsfield had a double-dose of block...
LaFesta Baseball 2014
The LaFesta Baseball Exchange, celebrating 24 years, pits...
Adams Polish Picnic 2014
Adams residents enjoyed traditional Polish food and music...
Mingo's Sports Bar & Grill...
Over 50 cars packed into the Mingo's Sports Bar & Grill...
| Home | A & E | Business | Community News | Dining | Real Estate | Schools | Sports & Outdoors | Berkshires Weather | Weddings
Advertise | Recommend This Page | Help Contact Us | Privacy Policy| User Agreement
iBerkshires.com is owned and operated by: Boxcar Media 102 Main Street, North Adams, MA 01247 -- T. 413-663-3384 F.413-664-4251
© 2000 Boxcar Media LLC - All rights reserved