GAO report: Dollar coins make more cents

The U.S. could save billions of dollars by getting rid of the paper dollar, according to the Government Accountability Office. …

At a hearing before the House Financial Services Committee Thursday, Lorelai St. James, a director at the GAO, plans to tell Congress that switching from paper currency to dollar coins would ultimately be more cost effective, the Wall Street Journal reported Wednesday.

Last February, the GAO reported that making such a switch would save the country $4.4 billion over the next three decades – or about $146 million per year in savings.