Let’s redesign the money

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Let’s throw out all the U.S. currency and start over. There’s a lot we’re doing wrong:

There’s too much paper. Notes only last for a couple of years, but coins regularly stay in circulation for as long as 40 years. Printing all those notes adds up – ditching even just the $1 bill could save us more than $5 billion over the next 30 years.1

Our coins are worthless. The median wage is about $17 per hour, meaning most Americans earn a penny roughly every two to three seconds while they’re on the job. Even if doing away with them meant that every merchant rounded their prices up, the seconds we spend fussing with pennies are literally not worth our time.

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