Thursday, February 15, 2007

Kill the Dollar Coin

In addition to getting rid of the penny, I think Congress and the Mint should stop fooling around with the idea of a dollar coin. After two attempts at coins featuring people nobody knows, at least the Mint is now putting presidents back on their next dollar coin attempts. They're also introducing inscriptions on the edges of the coins, which may help give the coins a feel in your pocket different than quarters. However, it's unfortunate that the first dollar coin will have a portrait of the same president (Washington) who's also on the quarter — the coin most confused for the dollar coin.

The pocket factor is the primary source of my opposition. Let's try an experiment: open your wallet right now and count how many $1 bills you're carrying. I have 6 in mine.

Now imagine having to carry the same amount in big, heavy coins in your pocket, or digging through the contents of your change purse just to find a dollar. Ask anyone in the UK how they feel about having to carry their large, heavy pound coins and most will say they'd rather carry paper.

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