Vitter Introduces Bill To End Presidential $1 Coin
US Senator David Vitter introduces a bill to stop the minting of the one dollar presidential coin. Vitter's bill would repeal the 2005 Presidential Coin Act. He says the coin has never been popular and
average people don't want them. As a result of the coins lack of popularity they are sitting, uncirculated, in Federal Reserve vaults. Already more then 1.2-billion dollars in coins are in the vaults. Vitter says it's becoming a burden on the taxpayers.
Vitter says the current law requires the mint to make millions more coins than even devoted collectors can use. He says its a waste of money at a time of increasingly tight budgets. Vitter says even the banks are sending the coins back to the reserve.