Thoughts on the new $1 coin

[disneysteve]

So there will be yet another new $1 coin starting in February. I don't know about anyone else, but I am no more likely to use that one than I was to use the current or previous ones. Why? I keep my money in my wallet, not in my pocket. I don't carry around change. When I do spend cash (which is rare - I mainly use my credit card), any change in my pocket gets tossed in the bank on my dresser each day. I don't leave the house with change in the morning. If a store tries to give me change in $1 coins, I will request paper dollars. Personally, I think the government is wasting time, money and natural resources to produce these new coins. The one positive comment, however, is that collectors will love them as they will eventually feature every president, so many ex-presidents who are little known will get their 15 minutes of fame.

[PRICEPLUS]

Disneysteve, I concur with your take. Coins don't fit in the wallet so I prefer paper money!

[sakigt]

As far as its intended purpose (being useful) it probably wont be for me, since when I break a dollar I put my change away for my vacation fund.

I think it will bust my weekly $20 budget and overfund my vacation savings

[poundwise]

I like the $1 coin idea. Releasing these the way that they will may actually get people to start using them. If so, I expect that we may have $5 coins in the not-to-distant future as well.

[ren]

The $1 coin will never catch on until they stop issuing $1 bills. It's that simple.

[Hez]

Originally Posted by ren

The $1 coin will never catch on until they stop issuing $1 bills. It's that simple.

Yeah, it's very odd to have a coin as well as a bill. I'm Canadian & therefore already use a $1 and $2 coin...but there's no bill alternative. I don't mind using coins at all, it's all the same to me.

[ren]

When I was in Canada a few years ago, I was wondering why I was going through my money so fast. Then I realized I had about $30 in change after three days. Man, did I feel stupid. After that, I made a point of remembering to use the coins instead of just breaking bills all the time.

I still have a toonie around, because the coin inside a coin amused me.

[tgavin71]

Australia is the same as Canada. Coins only no notes for $1 and $2. Works fine here.
I, like Disneysteve rarely use cash or coin. I use credit card for every thing i possibily can.

[cicy33]

I hated the $1 coin, too heavy to carry too many. I hate change in my pocket anyway. Like most I use my debit card for most of my purchases. I still have one of the $1 coins but not to use just to have

[Ima saver]

I don't think I will use the $1 coin either.

[lrjohnson]

I think that it's just going to take getting used to it. I don't like the idea of coins personally, but really, so what. My preference is just habit. Dollar bills are not economical. Tons of other countries do it. There are no reports of muscle strain or a wave of holes in pockets in London due to the heavy pound coin. Like a lot of other people I often balk at change. I look forward to the dollar bill going away so that we all get over the bill cold turkey.

[sweeps]

Originally Posted by disneysteve

Personally, I think the government is wasting time, money and natural resources to produce these new coins.

This is the key point as far as I'm concerned. I can think of a thousand more important things the government could be spending money on than creating and advertising coins.

And if the government really wants us to stop using bills and start using coins, then simply take the bill out of circulation. Done deal.

[vishenda]

Originally Posted by PRICEPLUS

Disneysteve, I concur with your take. Coins don't fit in the wallet so I prefer paper money!

same here..I hate bringing coins/coin purse

[dossin1]

I guess I'm neutral on this one. My kids love collecting the state quarters, so I guess they'll enjoy this as well.

[rusty@saving]

i never spend my change until the end of the week when i go to the coinstar and cash it out.
i think i have found a new way to save $...if i want to save $20/week, i will get $20 worth of $1 coins(or whatever i can get) and use my bill $ on everything else(groceries, ect), and then use whatever is left on the bills and then the coins. i know i will not use the coins as much since i am used to bills more and cash out the change at the end of the week.
maybe this will fool me into thinking i have less $ than i do....
its worth a try, you know??