Monday, October 20, 2014 02:01pm
North Adams, MA now: 54 °   
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
BerkshireWorks Plans Events in Honor of Veterans
Adams Civic Club Seeking Broader Membership
Cariddi Hosting Information Forum on Ballot Questions
Lanesborough Committees to Discuss School Funding
Shakespeare & Company Head 'Excited' for Future
McCann Manufacturing Students Tour Pittsfield's Starbase Technologies
Egremont Hosts Final FireFighters' Steak Roast of the Year
Hundreds Watch Berkshire Battalion Drop Puck On Inaugural Season
State and Town Officials Sign Master Lease For Greylock Glen
Downing Sponsors Holiday Greeting Card Design Contest

 


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 (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (12)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
September 2014 (1)
August 2014 (1)
March 2014 (2)
January 2014 (1)
December 2013 (2)
November 2013 (3)
Tags:
Talkberkshires Berkshire Enterprises Statistics Gas Prices Unemployment Baldwin Great Barrington Crane & Co. Merger Berkshire Chamber State Sabic Berkshire Creative Small Business Flood Berkshire Living Pittsfield North Adams Store Opening Wmeco Excelsior Williamstown Expansion Bj's Auction Adams Qualprint Statistics Jobs Walmart Breakfast Pine Cone Hill Currency Unemployment Berkshire Chamber Of Commerce
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
White Hart Inn For Sale for $5M
New Dog Training Center Open in North Adams
Williamstown Chamber Seeks Input on Future Role
Simmons Expanding Into Customized Lines
Real Estate Panel to Tour S. County, Pittsfield Sites
Recent Entries:
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
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


View All
Football: Franklin Tech vs...
McCann Tech holds on for the win Saturday afternoon. McCann...
Colegrove Park Elementary...
Mayor Richard Alcombright and the City Council were updated...
Boys and Girls Cross Country
Berkshire Chamber Greylock
Boys and Girls Cross Country
The Lenox boys and girls teams both cleaned up on Senior...
Volleyball: St. Joe s vs...
Taconic takes 3 from St. Joseph Tuesday night.
Ramblefest 2014
Adams residents enjoyed entertainment, food, and locally...
Girls Soccer: Hoosac Valley...
The Wahconah girls soccer team on Monday advanced to an...
Berkshire County Classic Golf
Francois Benistand, an exchange student from the south of...
Indashio Fashion Show
Fashion designer Indashio holds his second FAME Festival in...
Football: Pittsfield vs...
Senior quarterback Nick Clayton marched his team 80 yards...
Football: Lee vs Drury
FINAL: Lee Wildcats beat Drury 24 -14.
Football: Taconic vs Hoosac...
FINAL: Hoosac Valley 51-14 over Taconic.
Soccer: Mount Greylock vs...
Eric Hirsch scored twice, and Taylor Carlough played strong...
Girls Soccer: Wahconah vs...
The Mount Greylock girls soccer team is still in search of...
Boys and Girls Cross Country
Hoosac Valley's Travis Ciempa and Mount Greylock's Margo...
Football: Franklin Tech vs...
McCann Tech holds on for the win Saturday afternoon. McCann...
Colegrove Park Elementary...
Mayor Richard Alcombright and the City Council were updated...
Boys and Girls Cross Country
Berkshire Chamber Greylock
Boys and Girls Cross Country
The Lenox boys and girls teams both cleaned up on Senior...
| 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