Paper Money

Kansas City newspaper backs move from the $1 bill: Coin World Buzz

Americans' reluctance to abandon the paper $1 has led to millions in wasted funds. Senators are now revisiting legislation to abolish the $1 note.

Original images courtesy of WikiCommons

1. Kansas City newspaper wants dollar bill banished:

When considering global attitudes, America's infatuation with paper money falls in the minority. 

The Kansas City Star editorial board is apparently among those who want to join the world majority and bring the dollar coin back into circulation, showing support in a recent editorial for legislation introduced by Sens. John McCain (R-Ariz.) and Mike Enzi (R-Wyo.) that would do away with the dollar Federal Reserve note.

"The Government Accountability Office has recommended the move for a long time," the editorial reads. "The reason is simple: Dollar coins, though more expensive to make, last much longer. The average dollar bill lasts only about four years. A dollar coin wouldn’t need to be replaced for 30 years."

Read the full editorial from the Kansas City Star.

2. Copper-lacking cents

Since the early 1980s, cent planchets have been composed of zinc electroplated with copper. 

Unplated Lincoln cents present some issues for collectors and grading services alike. 

"Unfortunately, unplated Lincoln cents are difficult to authenticate in even the best of circumstances, even for grading services. Here, then, is a quick tutorial on how to identify genuine unplated cents. I will refer to three examples — a genuine unplated 1989-D Lincoln cent, a 1991-D cent chemically stripped of its copper plating, and a 1994-D cent that was plated-over with a silvery metal," Mike Diamond writes.

Read Diamond's full Collectors' Clearinghouse column.

3. 2016 German coin to honor national anthem

A new €20 coin from Germany is set to honor the 175th anniversary of the country's national anthem, which was written in 1841 by songwriter August Heinrich Hoffmann. 

"Germany will celebrate the 175th anniversary of the song in 2016 with a commemorative silver €20 coin, according to an announcement from the German Ministry of Finance," Coin World Senior Editor Jeff Starck writes.

4. Connect with Coin World: 

5. Precious metals pricing lists the following prices per ounce Wednesday at 12:21 p.m. ET:

6. Hot topics

Check out the three most-read stories of the last couple of days:

  1. Approved Mark Twain commemorative coin design unveiling Nov. 27
  2. 92.6 percent of week's American Eagle silver coins purchased in two days
  3. 2015 First Spouse Medal sets selling fast: Monday Morning Brief, October 12, 2015

7. Something social

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