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Presidential Dollar Suspension Will Save Tax Payers $50 Million a Year

On December 13, 2011, Timothy F. Geithner, the U.S. Secretary of the Treasury, suspended production of Presidential Dollar coins. The suspension came from The Obama Administration campaign to cut government waste. Eliminating the production of the Presidential Dollar coins will save tax payers at least $50 million a year.

According to Treasury officials, the Mint will resort to using coins already stored in the Federal Reserve Bank vaults to meet the public's demand for $1 coins.

U.S. Mint News Presidential Dollars