United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-07-13 monographic deposited born digital GA 1.13:T-GGD-95-203 https://www.govinfo.gov/app/details/GAOREPORTS-T-GGD-95-203 P0b002ee1803a1fdc f:tgg95203 DGPO 2010-08-12 2011-03-24 GAOREPORTS-T-GGD-95-203 machine generated eng fdlp REPORT GAOREPORTS-T-GGD-95-203 T-GGD-95-203 Currency and coinage Foreign currency Public relations Printing costs Monetary policies Cost effectiveness analysis Future budget projections Precious metals Canada United Kingdom Testimony GGD The major Western economies all now use a coin for monetary transactions for the same level that Americans use the paper dollar. Although the United States introduced the Susan B. Anthony one-dollar coin in 1979, it was not widely accepted by the public, mainly because the dollar bill was not simultaneously eliminated. GAO reported in 1993 that the government could save $395 million per year on average over 30 years by substituting a one-dollar note. GAO reviewed a recent Federal Reserve study that updated this estimate to $456 million per year, which GAO believes is reasonable. On the basis of the foreign experiences its studies, GAO notes five essential element to ensure a successful conversion: (1) elimination of the one-dollar note; (2) a reasonable transition period; (3) a coin that is well-designed and readily distinguishable from other coins; (4) an adequate public awareness campaign; and (5) sustained administrative and congressional support to withstand negative public reaction. https://www.govinfo.gov/content/pkg/GAOREPORTS-T-GGD-95-203/html/GAOREPORTS-T-GGD-95-203.htm GAO/T-GGD-95-203 https://www.govinfo.gov/app/details/GAOREPORTS-T-GGD-95-203 Testimony GAO/T-GGD-95-203; A Dollar Coin Could Save Millions; Currency and coinage Foreign currency Public relations Printing costs Monetary policies Cost effectiveness analysis Future budget projections Precious metals Canada United Kingdom