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Planet Money Podcast
#285: Wasting Money Making Money

#285: Wasting Money Making Money

Planet Money vor 15 Jahren

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On today's Planet Money, we visit an underground vault that's full of money nobody wants.
The money — bags and bags of dollar coins — is the result of a 2005 law that requires the U.S. Mint to print a series of coins bearing the likeness of each U.S. president.
The problem is, people don't really like dollar coins. So more than 1 billion dollar coins are now sitting, unwanted, in Federal Reserve vaults around the country. By the time the program wraps up in 2016, the Fed will be sitting on 2 billion unwanted coins, according to the Fed's own estimates.