Poor guy. I get the logic (save yourself a trip to get quarters), but it's a tough sell to get someone to pay 1.5 times the face value for money. The whole concept of commerce hinges on moving something from a place where it has less value to a place where it has more value. Moving money, which has exactly the same value at origin and destination, is...dumb.
Another problem is that there is 0 barrier to entry for competitors. If this model had worked, I would be competing with him by supper.