I think it cost more to make paper money.

A dollar bill cost 5.7 cents to make, and average life in circulation is destroyed is 18 months.

A dollar coin cost 21 cents, and average life of a coin is 30 years.

A penny in 2004 cost .93 cents, so right at the cost.

But the cost of keeping one penny in circulation for 30 years, is .93 cents. The cost of keeping a paper dollar in circulation for 30 years, is $1.14.

So over time, the paper dollar cost more to make then a penny, and cost 5X what a dollar coin cost.

So, I was sorting my spare change, and I came across this:

I've never seen it before, but it's real, because I have one in my  hand right now.

In case you aren't familiar with U.S. currency, this is what pennies haved looked like from 1958 until present day:

But with this new penny, they have changed the "reverse" or "tails" side.

Before 1958, the pennies looked like this:

They are called "wheat pennies." The government stopped making them in mid-1958.

Now, I see a new penny. They never change the pennies, but quarters and nickels are changed a lot . Does this mean that we won't be seeing any more new pennies that have the Lincoln Memorial? Will we use these new pennies with the crest for the next 50 years, only to have it changed again?

Well, there's your history lesson to get you ready to go back to school. Or, if you are already back in school, then go tell it to one of your teachers or whatever. Or, if you aren't in school, then go tell your best friend.

Is paper currency in America still actual paper?

It's a special paper that's only manufactured for the mint, but yes. I was in New Zealand a few months back, and they have a much better currency solution. The smallest paper bill is a $5, and they have eliminated the penny.

It was odd the first time I paid $1 for something with a five dollar bill, and got back three coins (they also have a $2 coin).

Oh, there paper money feels more like a plastic/paper combo of some sort. Also very colorful.

I think it cost more to make paper money.

A dollar bill cost 5.7 cents to make, and average life in circulation is destroyed is 18 months.

A dollar coin cost 21 cents, and average life of a coin is 30 years.

A penny in 2004 cost .93 cents, so right at the cost.

But the cost of keeping one penny in circulation for 30 years, is .93 cents. The cost of keeping a paper dollar in circulation for 30 years, is $1.14.

So over time, the paper dollar cost more to make then a penny, and cost 5X what a dollar coin cost.

Sounds like here in Australia.. We have coins, 5c, 10c, 20c, 50c, $1 and $2 and then $5, $10, $20, $50, $100 notes. The notes are plastic too and yes, also very colourful, a different colour for each type of note so you know which is which at a glance.

It is the same as Australia and both utilize plastic vs paper.

While I am not a citizen of either, I worked a great deal with both nationalities and even took a 1 month trip to oz for work. Still have a $10AUD bill in my safe. Was worth about $7.50 USD then and now is worth more, but I'll keep it as I want to keep money from every country I eventually visit.

However, I prefer the $1 US option than $1 and/or $2 coins as its simply easier to carry around. However, it should be made  a little more durable. Personally, I prefer to use only debit transactions and would like it if cash in itself was just eliminated.

But, debit transactions would need to become free for the consumer as well as the retailer.