Dollar Coin Is Really A Dollar Con

I first posted about the budget stupidity of the dollar coin more than two years ago.At that time I stipulated that, in theory, a dollar coin makes a great deal of budget sense because it costs more to keep a dollar bill in circulation over a long period of time than it  does to have a coin. Therefore, as the Government Accountability Office has said on many different occasions, the federal government could spend less by switching.But...as I also said two years ago...the key phrase is "in theory." The savings only occur if dollar coins replace rather than supplement the dollar bill, that is, if consumers do something they've absolutely shown no inclination to do by not using bills, and if retail businesses are willing to pay the higher costs to them of using coins.This is not a guess or supposition; I headed the team of consultants who helped introduce the Golden Dollar coin in...