A new poll, released today, of voters in Texas’ 5th congressional district reveals people’s preference for the dollar bill and disapproval of the dollar coin. While Rep. Jeb Hensarling is co-sponsoring legislation to abandon the dollar bill in favor of the dollar coin (H.R. 2977: COINS Act), the poll shows that voters in the district disagree with his position on the issue and suggest there are better ways for the government to address the federal budget deficit.

The survey, conducted by Lincoln Park Strategies, an independent public opinion research firm, found that:

• 82 percent of voters in Texas’ 5th district oppose removing the dollar bill from circulation and replacing it with a dollar coin (as suggested by the COINS Act); while 62 percent hold strong opposition to the idea
• 82 percent of those polled feel the dollar coin is unnecessary
• 80 percent say the dollar coin is unwanted
• 81 percent feel the dollar bill is more convenient to carry and use than the dollar coin
• 72 percent say the dollar bill is more American than the dollar coin

“Sentiments against the dollar coin are strong across Dallas and the rest of the country,” said Stefan Hankin, president of Lincoln Park Strategies. “Our research shows people’s resistance to the dollar coin spans from everyday usage to the feeling that politicians should be spending their time on more important issues.”

Unlike most issues in the country, support for keeping the dollar bill reaches across partisan and demographic groups. In the 5th district, the poll finds that 77 percent of Democrats, 84 percent of Republicans and 82 percent of Independents oppose the COINS Act proposition. Voters feel strongly enough about this issue that 52 percent say they would be less likely to support a candidate who favored replacing the dollar bill with the dollar coin.

The survey reveals that Texas voters are looking for a balanced approach to addressing the federal budget deficit but feel moving to a dollar coin is not the solution. While the COINS Act suggests potential savings from a switch to the dollar coin, 51 percent of voters say it would have a negative effect on the economy and 34 percent feel there would be no impact at all.

Despite claims from supporters of the COINS Act, previous studies have shown there are no short- or long-term savings associated with dumping the dollar bill for the dollar coin. An independent economic study conducted by John Dunham & Associates in November 2011 found that a transition to dollar coins would increase annual costs to private businesses by $202 million and lead to thousands of job losses. This in addition to other capital expenses - new cash registers, change counting machines, cash drawers, larger safes, etc. - and costs to banks, money transfer companies and other financial firms.

“The federal budget and economy are facing hard times and this is when we need our government representatives to stand up for programs that will make a difference we need,” said Randy DeCleene, spokesperson for Americans for George. “Leave the dollar bill alone and move on to more important issues.”

About Americans for George

The Americans for George Coalition is a group of like-minded individuals, businesses and organizations seeking to ensure that the citizens of the United States maintain the ability to choose their preferred currency. The members of the coalition oppose efforts to eliminate the dollar bill and replace it with a dollar coin. For more information, please visit www.americansforgeorge.org.