Friday, October 10, 2008
Did you know that 45% of all bills in circulation are $1 bills and their average lifespan is 21 months? (wwww.http://www.moneyfactory.gov/document.cfm/18/2041). I believe these bills are made from a combination of linen, cotton and paper but I couldn't locate this exact information.
Compare that to the Life Cycle of $1 coins that the US Mint are now promoting (http://www.usmint.gov/mint_programs/$1coin/index.cfm). The average life of a coin is closer to 20 years and they are completely recyclable into new coins at the end of their life. This is a good example of closed loop manufacturing system. Not only is this good for the environment, but it is also good for the Treasury which hopes to save millions annually due to the durability and cost advantages of coins.
Like most ecological choices, the best option usually saves money and ecological resources when measured over time. I just picked up my first $25 roll of the coins and plan to begin using them as often as I can.