I would rather keep the $1 bill and get rid of all the coins. Put an end to all the $0.99 nonsense pricing and make taxes/tips easier to calculate. I don't even mind if they make it so all sales taxes round up to the nearest dollar. I'm tired of trying to find an efficient way to store and, later, spend coins. They weigh my pants down and cause the pockets to wear out sooner.
I've visited Europe a few times in the past few years, and in each case I find it a royal pain to figure out how to carry/sort the Euro Coins for small purchases. Carrying a coin pouch has been common in the past, but why should we revert to that today when bills are so much lighter? Then again, a cashless society would be even more efficient.
An ideal system in my head would be:
- Coins relegated to collectible souvenirs
- Add a half-dollar bill, and round all transactions to the nearest half-dollar (digital and physical for fairness)
- For the blind, consider giving each bill a slightly different size (Euro-style), or even better, texture.
- Use Tax Incentives/Banking regulation to accelerate the move to a primarily cashless society. Eventually, bills will only be used for small off-the-record transactions, kids allowances, senior citizens, and (maybe) tourists.
- Simplify electronic banking - specifically person-to-person transfers, including guaranteeing access to anonymous prepaid accounts (freedom of money = freedom of speech), and usage of cash will eventually disappear altogether.