Tuesday, January 27, 2015 11:12pm
North Adams, MA now: 9 °   
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
Williams Students Aim to Break Record Lego Build Time
Williamstown — Finally — Decides on Town Flag
Berkshire Youth Wrestling Club Set to Host Sectional
Pittsfield Residents Wary of Taconic High School Cost
Lanesborough Voters Will Be Asked to Decide School Affiliations
Williamstown Selectmen to Hire Consultant for Town Manager Search
Williams College Senior Awarded Churchill Scholarship
'Blizzard of 2015' Causing School Closings, Cancellations
Battalion Boosts Playoff Hopes With Big Weekend
Pittsfield Traffic Panel Asked to Restore Crosswalk Near Allendale

 


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)
Tags:
Pittsfield Currency Unemployment Expansion Adams Qualprint Berkshire Chamber Berkshire Creative North Adams Statistics Wmeco Store Opening Berkshire Chamber Of Commerce Great Barrington Baldwin Bj's Walmart Auction Excelsior State Flood Berkshire Living Talkberkshires Unemployment Sabic Breakfast Statistics Williamstown Merger Small Business Berkshire Enterprises Gas Prices Jobs Pine Cone Hill Crane & Co.
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
New Dog Training Center Open in North Adams
White Hart Inn For Sale for $5M
Adams Co-Op, South Adams Bank Merger Approved
Williamstown Chamber Seeks Input on Future Role
Storey Publishing to Host Next Creative Challenge
Simmons Expanding Into Customized Lines
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
Berkshire County UCP Telethon
United Cerebral Palsy of Berkshire County held its 52nd and...
Girls BB: Athol vs Hoosac...
McKenzie Robinson dished out nine assists to help the...
Swimming: Wahconah vs St....
Liz Bernardy won the 100-yard freestyle and 200 individual...
Boys BB: Drury vs Hoosac...
Friday night basketball, Drury boys win over Hoosac Valley...
Girls BB: Lee vs Mount...
Barrett scored a game-high 27 points in Thursday's 57-44...
Boys BB: Smith Academy vs...
The Pittsfield boys' basketball team defeated Smitch...
North Adams Chamber @...
The North Adams Chamber of Commerce held its first...
Hockey: St Mary's vs Wahconah
The Wahconah hockey team defeated St. Mary's Wednesday...
Berkshire Chamber @GFCU
Berkshire Chamber of Commerce held its January networking...
Boys BB: Wahconah vs Drury
The Wahconah boys basketball team was able to pull away and...
Boys BB: Hoosac Valley vs...
Jerry McDonough scored 14 points and went 4-for-6 at the...
Girls BB: Wahconah vs Lenox
The Wahconah girls basketball team got back on track with a...
Girls BB: Hoosac Valley vs Mt...
Hoosac used 25 points and 11 rebounds from Emily Rosse to...
Co-ed XC Skiing
The Mount Greylock cross country ski team had the home...
Girls BB: Millbrook vs Miss...
Grace Guachione scored 19 of her 22 points in the first...
Girls BB: Pittsfield vs...
The Pittsfield girls basketball team defeated Wahconah...
Berkshire County UCP Telethon
United Cerebral Palsy of Berkshire County held its 52nd and...
Girls BB: Athol vs Hoosac...
McKenzie Robinson dished out nine assists to help the...
Swimming: Wahconah vs St....
Liz Bernardy won the 100-yard freestyle and 200 individual...
Boys BB: Drury vs Hoosac...
Friday night basketball, Drury boys win over Hoosac Valley...
Girls BB: Lee vs Mount...
Barrett scored a game-high 27 points in Thursday's 57-44...
| 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