$1 Billion in Coins Nobody Wants

Jul 14, 2011 2:33pm

ABC News' Jonathan Karl (@jonkarl) went to the U.S. Mint in Philadelphia – it is a big, noisy, busy operation, capable of minting nearly 2 million presidential dollar coins daily. But most of those coins go into storage, never seeing the light of day. Costing 32 cents apiece to produce, these manganese brass dollars have proven unpopular with a public that prefers paper.

ABC News went to one such storage facility, the Federal Reserve in Baltimore, where the coins are in plastics bags and cardboard boxes, stacked one on top of another, creating several aisles of presidential coinage worth millions of dollars.

Watch "World News with Diane Sawyer" for more on this story tonight on ABC.

Read more about the coins.

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