Friday, March 23, 2012

Do you support moving to a $1 coin?

Legislators are looking at making the move to a $1 coin, eschewing paper dollar bills altogether, as a way to save money long-term because coins will last longer than paper money (which is actually more like a fabric made with cotton).  What are your thoughts on this?

My take on this topic is that moving to a dollar coin wouldn't affect me much.  I typically use a debit card and keep a few bills on hand for school lunches.  I would be in favor of the switch provided that it doesn't turn into the conundrum with the penny, which actually costs more than a penny to make.  Now that is a no-brainer... why make a product that costs more to make than it is worth?  Lots of countries use dollar coins (I have some from a trip to Canada --- they even have $2 coins).  It may cost to have machines upgraded (such as vending machines), but that's just a cost of doing business.
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