Originally Posted by
shinjukuflyer
Went to Ecuador a long time ago, they use the dollar as currency there. I think that's where all the dollar coins went, they're everywhere.
The banking lobby has successfully foiled widespread circulation of one-dollar coins in the US by making sure that Congress requires continued issuance of dollar bills. Popular resistance to change takes care of the rest.
You may wonder why banks care whether Americans use coins or folding money for their small transactions. It's simple: for obscure historical reasons, the Federal Reserve pays the shipping cost for currency, while banks have to pay it for coins.