Poll: Americans Want to Keep Dollar Bill

In this undated handout photo provided by the U.S. Mint, a dollar coin is seen. An AP-Ipsos poll found that three-fourths of the people in the United States oppose replacing the dollar bill with a one dollar coin, and people are evenly split as to whether there should be both dollar bills and dollar coins. (AP Photo/U.S. Mint) (AP)

People have strong feelings about their money, even the penny.

A congressional effort to reduce the need for the cent piece failed even though it costs more to produce the copper-colored coin than the coin is worth.

When people were asked whether the penny should be eliminated, 71 percent said no, according to the poll of 1,000 adults conducted Nov, 28-30. Some fear that getting rid of the penny will cause product prices to be rounded up, perhaps increasing inflation.

In other poll findings:

_53 percent said they carry their loose change collected during the day to use for future purchases.

_42 percent put their loose change in a jar or piggy bank each day.

_48 percent said they use cash for purchases under $10.

_28 percent said they usually use cash in such cases, but sometimes use credit or debit cards, according to the poll with a margin of sampling error of plus or minus 3 percentage points.

Rather than a high-profile ad campaign like the one used to introduce the Sacagawea dollar, the Mint is trying a more grass-roots approach. The agency is talking to the Federal Reserve, banks and vending machine operators to stir up interest in the new dollar coin.

Supporters of the new presidential dollar coin point to the success of the 50-state quarter program. Begun in 1999, this program has introduced millions of people to coin collecting for the first time.

For Richard Wander of Albany, N.Y, the dollar coin is a welcome addition because he is "kind of a collector."

"I think it's good to have both," he said. "Instead of taking time to put four quarters in a parking meter, you could put in a dollar.