Originally Posted by
DCBob
Oh, how about using them:
* When buying groceries
* In a soft drink machine (the ones I use now take the new dollar coins)
* To buy lottery tickets
* At a restaurant or bar
* To pay for parking
* For whatever you normally spend money on
That all depends on whether you use cash often. For example, I always use a CC to buy groceries, because I get 3% cashback. I don't buy from vending machines, and the ones at my workplace don't take dollar coins anyway (only new ones do, usually). Lottery tickets... well, let's not address that.
Similarly, I pay for restaurants/bars with a CC that earns 3% for dining out. Indeed, I basically spend cash as rarely as possible... I use a CC as often as possible to maximize rewards. Simply replacing your CC purchases with these coins essentially negates any benefit you get for buying the coins (since you could just have not bought the coins and paid for the products/services with your CC).
Originally Posted by
DCBob
Most people who work for a living have a bank nearby their workplace.
True, but it may not be
your bank. Banks with whom you don't have an account generally don't like changing large amounts of cash... they'll probably do it, but they may scrutinize you more closely, require additional ID, etc. to prevent fraud... and they may charge you a fee if you are not a customer. On the other hand, doing a cash exchange at your own bank is generally much easier since they already have a history on file for you, but your own bank may not be convenient to your home or workplace (mine isn't, for example).