In 2005, Congress passed a law requiring the use of $1 coins by federal agencies, the Postal Service, all transit agencies receiving federal funds and all entities operating businesses on government property. It also required the Mint, housed within the Treasury, to advertise the coin to the public. The coin still didn’t catch on, and in December 2010 the country’s Federal Reserve banks were still sitting on roughly 1.1 billion uncirculated $1 coins, according to the GAO.
The fight has been going on for so long that some in the industry have given up.
“It’s all politics,” said John Schultz, the president of the American Amusement Machines Association, who has worked for jukebox and vending manufacturers since the ’80s. “Thirty years we’ve been working on this and thrown a tremendous amount of money to it. Its time has passed.” Schultz said he doubts his organization will be putting any more money into the lobbying campaign.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.