Close

New $1 Coin Doesn't Excite Laundry Owners, Survey Shows

CHICAGO, Ill. — While the U.S. Mint sings the praises of the new $1 coin, coin laundry operators don’t share the same enthusiasm, according to the most recent Wire survey.Forty-five percent of the respondents are not happy, from a coin laundry-business perspective, to see the coin. Thirty-seven percent of the operators are happy to see the coin, and 18 percent are undecided about the $1 coin.Opinion varies when it comes to deciding if the $1 coin will affect business. Forty-five percent of the respondents say the new coin will have no effect on their businesses. Other responses include “it will have a great effect” (6.7 percent); “it will have some effect” (16.7 percent); “it will have little effect” (20 percent); and “not sure” (11.7 percent).Seven out of ten respondents don’t plan on changing any of their business practices (marketing, equipment adjustments, etc.) to accommodate the new coin. Fifteen percent plan on changing some of their business practices, and 15 percent are not sure if they will change anything to accommodate the new coin.Coin laundry operators have various theories as to why the $1 coin has never become popular. The top two reasons given for the coin’s failure are “people don’t like to carry excess coins” and “one can confuse a $1 coin with a quarter.” Other reasons given include “the paper dollar is all we need,” and “the government hasn’t pushed the coin enough.” Almost a quarter of the respondents believe that all of the above “theories” are responsible for the $1 coin’s lack of popularity.

Advertisement

Digital Edition

Latest Classifieds

Industry Chatter