The White House has approved the redesign of U.S. currency featuring President Barack Obama who will be on the new dollar coin.
"We would rather have placed Franklin on the $1 coin because Franklin had never been President of the United States. We could have placed Obama on the $100. bill and Franklin on the coin.
However, President Obama is a modest man and decided that people are too used to Franklin on the one hundred dollar bill.
How about George Washington and the $1.00 bill?
"He stays", said Treasury Spokesman. "We will make a limited supply of those but people are going to be using the Obama $1 coin a lot more because they will be 95% of $1 minted.
The Treasury says they may take this further in the future because of the money it saves. "Minting a coin is a lot easier but also, hard to counterfeit. With today's printing ability bills can be copied, many of the everyday bills soon will be replaced with coins."
The new Obama $1 coin should be out in the summer of 2014 and will have a copper look as the outside is covered with copper.
The Spokesman, Flannery, says "We men may need a coin purse in the pocket by the middle of next year."
"On the back? "Noble Peace Prize Winner & President of the United States!"