Now that the new $1 coins are in circulation (and being sold for a premium on eBay), I thought I would ask the readers to weigh in on the usefulness of the new coins.
Personally, I think they have a certain “cool” factor to them, but in reality I would never use them. I hate carrying change in my pockets. But in Europe, for example, they’re used to carrying $1, $2, or even $5 coins with them – and even the guys carry a “change purse” for all of that change. Americans, however, are moving in the opposite direction. We don’t even carry cash anymore because everything can be bought with plastic.
Another thing to consider is the confusion that the new coins might cause. Reader Richard recently commented:
Merchants hated the $2 bills because they were odd; the registers were not setup for a stack of them; and checkout clerks too often accidentally accepted them as fives and made change accordingly.
Similarly, the customer learned to hate the $1 coin because it had the same instant look and feel as a quarter, and was often accidentally handed to checkout clerks as a quarter. Clerks readily accepted them as quarters. Customers had to be on their toes. The â€œmistakesâ€ were good for clerks, but bad for customers. The same will be true with this new quarter-sized , quarter-shaped $1 coin.
So what do you think? Are the $1 coins a good idea, or just another waste of taxpayers’ money?