Local Banker Foresees Prevalence Of Dollar Coins
ST. LOUIS (KMOX) - Gold dollar coins can be a pain; not all vending machines take them and they are easily confused for a quarter but one local banker says they are likely to become more prevalent.
Royal Bank Executive Vice President Mitch Baden says the jingle of the increasingly common coins may become a more familiar sound.
“They’re easier for users to count; they’re going to last substantially longer than a bill,” he said. That makes them popular with the Federal Reserve. “I do see the government attempting to try to move more smaller bills to coins.”
Baden says in cities where people use more public transit, those coins come in handy. He adds that newer vending machines will take the dollar coins, making them more useful.
In addition to public transit ticket machines, the post office uses the gold coins in stamp machines.