Being from Canada, I actually prefer the 1 and 2 dollar coins, for the following reasons:
- vending machine transactions are far less temperamental (bill readers suck). Also far fewer trips to the bank for quarters for washers/driers.
- I hate having my wallet full of worthless currency. needlessly bloats my wallet. When I open my wallet of non-1 currency, if I see a few bills, I know I probably have enough for dinner or a couple drinks.
- It actually makes change-saving worthwhile. Everyday, you take the coins out of your pocket (as much as $4), and stash it in a jar. great money saving technique.
Your Point 3 is invalid because if there was a switch, everyone would accept it, and Point 4 is agnostic of bill or coin.
Point 3 is valid because the article is arguing for some of us to start using it now, before everyone switches.
Point 4 isn't agnostic of bill or coin. Carrying one $1 is pointless. Carrying five $1 coins is much more cumbersome than just having a $5 bill.
There already isn't much a use-case for carrying cash in the first place, at least in the US (how often is anyone really using vending machines anymore, and can you live without them?)
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So I should use a dollar coin because, if everyone used them 100% of the time, it would decrease the federal budget by 0.125%?
That's an absolutely terrible reason to use a coin, and I already do my part by never carrying cash in the first place.
I'd also point out that the dollar coin sucks to use for the following reasons:
1) far heavier than a bill
2) doesn't fit in a wallet
3) not accepted everywhere
4) an almost useless quantity of money (how often do you spend just $1)?
Being from Canada, I actually prefer the 1 and 2 dollar coins, for the following reasons:
- vending machine transactions are far less temperamental (bill readers suck). Also far fewer trips to the bank for quarters for washers/driers.
- I hate having my wallet full of worthless currency. needlessly bloats my wallet. When I open my wallet of non-1 currency, if I see a few bills, I know I probably have enough for dinner or a couple drinks.
- It actually makes change-saving worthwhile. Everyday, you take the coins out of your pocket (as much as $4), and stash it in a jar. great money saving technique.
Your Point 3 is invalid because if there was a switch, everyone would accept it, and Point 4 is agnostic of bill or coin.
Point 3 is valid because the article is arguing for some of us to start using it now, before everyone switches.
Point 4 isn't agnostic of bill or coin. Carrying one $1 is pointless. Carrying five $1 coins is much more cumbersome than just having a $5 bill.
There already isn't much a use-case for carrying cash in the first place, at least in the US (how often is anyone really using vending machines anymore, and can you live without them?)
Heavy cash has even less of a purpose.