When paper dollars are squared up against $1 coins, who comes out the winner and why? Clearly, as the "fun facts" money table shows, the one dollar bill wins out as the currency of choice by a wide, wide margin.
$1 Bill versus $1 Coin: Which is the Winner Today?
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Although the table lists individual advantages bills have over $1 coins, when taken in totality it’s much harder to picture a winning scenario for dollar coins outside of the collector market while paper dollars exist.
In recent news, it was announced that the United States Mint has enlisted the help of GolinHarris to create a campaign promoting the use of $1 coins. Wendy Love, Golin EVP, was quoted as saying,
"We really need a compelling reason for people to change their behavior towards the dollar coin in general.
This campaign is designed to focus on the fact that these coins are 100% recyclable and that they last for a long time, which saves natural resources and money.
The thing we are testing with this campaign is the idea that there is a different sort of benefit with using this coin."
Will a public relations push emphasizing the environmental and economic benefits of coins over paper money work?
Will consumers stop using $1 bills because marketing ads tell them coins make the world a better place to live?
If paper dollar bills are a terribly bad idea today, why doesn’t the government stop making them?
