If the Congressional Supercommittee votes on November 25 to replace paper dollar bills with a coin version, one green California company is poised to help. The switch from paper dollars is a provision of the COINS Act, sponsored by Arizona Congressman David Schwiekert.
Penny Revolution(TM), headquartered on the central coast of California, is ready to help manage the coins that would result from the change. The firm manufactures patented, reusable coin rolls called Toggle Tubes(R). The tubes have everything going for them: automatic coin counting, easy snap ends, recycled plastic milk jug material, American-made in an array of fresh colors, and shelf life–each tube can be reused hundreds, if not thousands, of times.
Fred Abler is CEO for Penny Revolution(TM) and the product’s originator. The recovering architect had long dreamed of designing a product made from recycled plastic. He honed in on coin wrappers, becoming the first designer/manufacturer to address the problems posed by traditional paper wrappers. Old-style wrappers are cumbersome, resource-wasteful and generate a significant cost to retailers, he said. Superstores use truckload quantities of disposable wrappers and rising shipping costs are impacting cost efficiencies. And Abler says that with the surge in retailers committing to employing green practices, reusable wrappers make perfect sense.
Abler designed the product, obtained patents and with partners Brad Hohle and Hill Swayze, became the only manufacturer of reusable coin wrappers worldwide. Production of Toggle Tubes(R) has increased and a national distributor has been secured as the product continues to attract attention from some of the world’s largest retailers.
Meanwhile, Abler is watching and waiting to see if the U.S. is going to need Toggle Tubes(R) in the one-dollar size. “I can’t make the decision for Congress, but we can be ready if they vote to go with the coin dollar,” Abler said. He notes there are currently 9.5 billion dollar bills in active circulation, which translates to a potential need for 380,000,000 Toggle Tubes(R).
Toggle Tubes(R) are made from a minimum of 30% curbside recycled plastic milk jugs.