According to USA Today, the one dollar banknote could be replaced with coins, and that’s because earlier this month, the board committee submitted a formal proposal to the Treasury in respect to this problem. Although for short term the 1 dollar bill dissapearance entails additional costs, however for a long period the replacement could bring benefits, in the next 30 years being estimated to be saved up to $5.6 billion.
Furthermore the lifetime of a banknote is about 42 months (officially), while a coin can resist on the market a much longer period. However, the transition from paper money to metal coins does not assure that people will use them. Approximately $1,1 billion coins are thought of not being used by the Americans.
Giving up one dollar bill for coins would require four years of transition. Beside that, there are needed a few more years for this change to make a difference.
Contrary to expectations, the debate is not new. In 1986, former senator of Arizona, Jim Kolbe, began a campaign to introduce the one dollar coin. The proposal still lingers in Congress.