New Dollar Coins to Fail
The US Mint is rolling out a new set of dollar coins this month and for the next few years. This follows on the heels of a number of aborted attempts to replace the dollar bill as a standard of US currency. Unfortunately, as so many times before, this effort is doomed for a number of reasons:
- Vending machines not accepting the coins. Ease of use is one of the keys to getting the public to be comfortable with the coin enough to want to use it regularly. We've only ever seen one vending machine that accepted the Sacajawea dollar and never one that took the Susan B. Anthony.
- The regular paper dollar is still out there. The only reason Canadians accepted and used the one dollar "loonie" coins was that the government pulled the paper dollars out of circulation as they were taken in by retailers and banks. We still have some Canadian paper dollars lying around here somewhere from a few fishing trips and when we bring them up north, the citizens are amazed to see their old paper dollars outside of a museum.
- Strippers can't put dollar coins in their thongs. Seriously. How are guys (and gals) going to tip for lap dances and the like with dollar coins? A roll of these things is going to be awfully inconvenient when out for a weekend worth of fun. Especially cheap coppers - they aren't going to be tossing five dollar bills around and who ever sees a two dollar bill anymore?
Just a few thoughts.
Labels: dumb ideas