CURRENCY

U.S. to Cut $1 Coins

After low demand.

The United States is set to curtail production of dead-president $1 coins due to low demand. "Nobody wants them," Vice President Joe Biden said Tuesday. According to The Wall Street Journal, there are enough $1 coins in the Federal Reserve to meet demand for a decade. More than 40 percent of newly minted coins are returned to the government as unwanted; the rest mostly sit in vending machines or in collections. In 2007, the government began minting $1 coins, planning to make one for each president until 2016. It will continue to mint the coins—next up is Chester B. Arthur—but only at a quantity to meet collector demand, not for widespread circulation.