The self-proclaimed friends of George Washington are not going to let a first-term member of Arizona’s congressional delegation take his picture out of circulation.
Members of Americans for George have organized to counter legislation by Republican Rep. David Schweikert to scrap the dollar bill in favor of a coin. They not only have put together a website but have financed a poll that they say shows that Americans not only hate the idea but would be more likely to vote against any candidate who supports replacing the bill with a coin.
On paper, the coalition appears diverse, ranging from a Seattle hair salon and the Alabama Automobile Dealers Association to some bingo operations.
But Schweikert said the key is that word: paper. The group also includes Crane and Co., the Massachusetts family-owned firm that has been the exclusive supplier of paper for U.S. currency for more than a century.
The U.S. Treasury produced more than 1.8 billion dollar bills last year. And Schweikert figures that gives the company a strong incentive to want to keep that folding cash around.
Amy Scarlett, a publicist for Americans for George, would not disclose how much the campaign has spent and how much has come from Crane. And calls to a Crane spokesman were not returned.
But she argued that the interests of members of that group were no more suspect than members of the Dollar Coin Alliance which has formed to back Schweikert’s legislation. They include the owners of coin-operated devices, the United Steelworkers Union and the Copper Development Association made up of firms that dig that metal from the ground.
That last factor is significant, as the current crop of dollar coins being minted are 85 percent copper.
The bottom line, said Scarlett, is that the poll shows that Americans are no more in love with the idea of a dollar coin than they were the last two times Congress had some minted up.
That nationwide telephonic poll of 800 likely voters conducted earlier this month by Lincoln Park Strategies found that 77 percent of those responding said they found the bill more convenient than the coin, versus 14 percent who saw things the other way.
Fully three quarters of those questioned described the dollar coin as unnecessary, versus 12 percent who said that about the dollar bill. And 49 percent of those asked described the dollar bill as environmentally friendly, against just 28 percent of those who said the same thing about the coin.
All that is going to require Schweikert to do a bit of public relations of his own.
“My fixation is, it’s $184 million a year,’’ he said, based on a study by the General Accounting Office of the amount that would be saved by making the switch. While coins cost more to produce than bills — about 15 cents versus just 3 cents — the coins last far longer than the 42 months’ average the Treasury Department reports for the dollar bills produced.
“You can’t get around the math,’’ Schweikert said. “I have a job to go tell the story of why that savings is important.’’
The coalition, however, argues the math is not as simple as Schweikert would make it.
Since the first modern-era dollar coins were mandated, the U.S. Mint has produced $4.2 billion worth of them. That includes the Susan B. Anthony and Sacagawea coins, no longer in production, and the currently minted presidential and Native American coins.
But about $1 billion worth of these are sitting in reserve, money the coalition claims “no one wants.’’
Schweikert conceded the coin has not taken off. But he argued all that can be changed if Americans are forced to use it.
His legislation would require federal reserve banks to stop issuing dollar bills four years after it becomes law — and sooner if there are 600 million of the dollar coins in circulation.
Gaining public support is only part of the problem.
Schweikert first needs to convince his colleagues. And the anticipated savings to the federal budget may not be enough to overcome the first rule of politics: get elected.
The coalition survey is designed to remind lawmakers about that.
It finds that only 11 percent of those questions are more likely to support someone who wants to replace the dollar bill with the coin. But 63 percent reported just the opposite, with the balance saying it made no difference or not answering.
Number of coins produced, 1979-2009
| Coin design | Number as of 11/09 | Production years |
| Susan B. Anthony | 932 million | 1979-1982 and 1999-2000 |
| Sacagawea | 1.47 billion | 2000-2008 |
| Presidential series | 1.72 billion | 2007-ongoing |
| Native American series | 92 million | 2009-ongoing |
| Total | 4.2 billion* |
* U.S. Mint reports that about $1 billion is held in reserve and not in circulation.
Source: General Accounting Office
Dale Whiting posted at 8:01 am on Sat, Oct 22, 2011.
Schweikert v. Mitchell
Schweikert won, we lost.
albundy posted at 11:20 am on Sat, Oct 22, 2011.
"But he argued all that can be changed if Americans are forced to use it"
Mr. public employee i don't think you have any business forcing any American to do anything.
shrinkingviolet posted at 2:16 pm on Sat, Oct 22, 2011.
Hope the tea party enjoys reaping what it has sown.
Diogenes Lantern posted at 8:37 pm on Sat, Oct 22, 2011.
The Move.On.orgers are out today with the above 3 smears. The facts:
US Congressman Schweikert is a Member of the Financial Services Committee and the Vice Chair of the Capital Markets and Govt Spnosored Enterprises. An admitted "numbers nerd", Schweikert was the former MC Treasurer as well as serving in the AZ legislature. It is a honor to be selected to Fin Services as a Freshman. The GSE group regulates Fannie Mae and Freddie Mac-major contributor to the Housing Bubble then Crash. Schweikert's skills as a Realtor and Financial professional make him hugely talented for reversing the housing woes and economic regulation of the last 3 years.
Schweikert co-sponsored the "Protecting Am Seniors and Military" bill to require the Treasury to pay first priority -debt service, social security, and active duty military in the event a debt ceiling bill is not passed. Obama threatened to not pay Seniors.
Schweikert co-sponsored a bill dedicated to repealing the oppressive regulations in the Dodd-Frank bill. This 2300 page job killing bill has over 400 mandates and regulations run by one unelected , unaccountable Regulator. The Bill costs $1.25 billion a year to hire more Obama bureaucrats to administer this mess.
Schweikert voted for the "Cut, Cap, and Balance" bill-the only solution to the $14.5 Trillion Debt requiring the US to borrow 42 cents for every dollar spent.
Introduced "Creating Sushine, Participation and Accountability for Our Nation" (CSPAN) requiring formal rule making be open to the media and tv (not hidden behind Pelosi's door)
Introduced a bill to prohibit Fannie Mae and Freddie Mac to engage in any new activities. This will protect the taxpayers from future bailouts to crony capitalists.
Introduced "Small Company Capital Formation Act"-reducing Obama's burdensome regulations on small business by upping the exemption on SEC filings from company size of only $ million to $50 million.
Introduced the "Forgotten Funds Act"-any federally appropriated unused fund be returned to the Treasury (rather than buying $100 hammers)
Co-sponsor "Small Bus Paperwork Mandate" which eliminates the onerous 1099 requirement in Obamacare. (If you paid your mechanic $600 to fix your car, you would have to file a 1099 which the mechanic would have to report)
And many more
For a Freshman, the number and astute bills Schweikert has introduced is almost unprecedented. His predecessor only wrote one bill in 4 years.
Rupert posted at 9:53 pm on Sat, Oct 22, 2011.
David, contrary to your condescending remarks, opponents of your legislation (and your constituents) can "do the math." What he fails to disclose is that his measure will give billions of taxpayer dollars to mining-industry interests.Now let's examine his recent campaign contributions. (Not only can we do math, we can google). Lookee here: $5000 from FREEPORT-MCMORAN COPPER & GOLD INC. CITIZENSHIP COMMITTEE 1/28/11. And who are Freeport-McMoran but one of the world's-largest copper-mining companies. It doesn't surprise me that Dave is trying to pull the wool over our eyes, but Howie, you really should learn to google!
Poorman posted at 7:24 am on Sun, Oct 23, 2011.
No great problem here,all our esteemed leaders have to do, is have the government stop printing paper 1 dollar bills,and pull them out of circulation. They did it with gold coins. Or better still make the paper ones worthless the practically are anyway.
Country Singer posted at 6:49 pm on Sun, Oct 23, 2011.
Canadian have use their "Loonies and Toonies" for years. In a recent tour of the Canadian mint, they say it cost them 12.5 cent to manufacture a coin. Coins will last forever. It is just a matter of getting use to them. The saving would be well worth the change Obama supporters wanted CHANGE, here's one the the conservative could live with.
samkat posted at 7:14 pm on Sun, Oct 23, 2011.
Yep singer and try carrying a pocket full of coins vs a pocket full of one dollar bills. PS: lantern, I am not a fan of moveon.org and I oppose coins to replace dollar bills.
Moderation posted at 3:06 pm on Thu, Oct 27, 2011.
Last time I checked I used a debit card for most things. I think changing the dollar to a coin is fine considering the value of it anymore. They end up in my spare change jar anyway. If it cuts back on spending and something that lasts more than 4 years great!
@Repert
$5000 is chump change in an election anymore. I doubt it would buy of a congressman. Well maybe a state one it could. [smile]