Saturday, July 30, 2011

Why People Haven't Adopted Dollar Coins

I've heard that dollar coins haven't been widely adopted because people hate them. That's a load of crap. Dollar coins are wonderful--it's nice not having to fumble with your wallet to use a vending machine or make another small purchase. If I could get dollar coins, I'd be happy to use them.

The problem with dollar coins is ATMs. Most people, when they receive currency to spend, it is through an ATM. ATMs dispense $20 bills and sometimes, if you're lucky, dispense $10 bills. I'd prefer to have 10 dollar coins, but instead, I have a 10 dollar bill that someone has to break.

That someone is generally a large retailer. In effect, large retailers are where most people get smaller bills. If they chose to deal in dollar coins, we'd have them circulating by now.

Sure, at first, people will hate it, but I'm sure they'll approve once you warm them up to the idea. Eventually, they'll wonder why they ever thought dollar bills were a good idea at all.