It is a dilemma almost everyone has faced. Every bank, store and company wants to give customers a shiny card to keep in their wallet, filling up wallets more and more until it looks like a family, post-Thanksgiving dinner. It is this problem that Coin wants to fix, cleaning up all of those cards in customers’ wallets.

Coin is an idea brought to us by CEO and Founder of Coin, Kanishk Parashar. The idea is that an existing credit, debit, membership, or any other type of card can be swiped with the included dongle and presto, all of those cards become virtualized into Coin. The Coin itself can hold eight cards at one time, but the companion smartphone app can hold an unlimited amount of cards.

The Coin works by utilizing an e-ink display and integrated button to select the card to be used. This e-ink display is the same technology that is used in Kindles and many other e-readers, meaning the screen on the Coin uses almost no power and is easy to read in even direct sunlight.

The biggest concern newcomers raised is that stealing Coin is effectively stealing the entire wallet (sans-cash). However, the folks at Coin have already thought of that and equipped coin with an auto-lock and auto-disable feature.

Auto-lock would disable card selection after the Coin is away from your phone for so long, meaning that a waiter would not be able to change what card is charged. Auto-disable means that the Coin will become inoperable after not communicating with your phone for another length of time. Both times are configurable by the user via smartphone app.

This is not to say Coin is entirely without flaw. A non-replaceable battery, which is rated to last for approximately two years, powers the coin. Since it is not replaceable, once the battery dies a new coin must be purchased. Although Coin has said discounts will be given on Coins needing to be replaced because of this, it is still a minor inconvenience.

Another flaw is that if the phone linked to a Coin dies, a backup form of payment will be required. Although Coin has stated that they are working on a way to alleviate this issue, it remains a problem for now.

Lastly, the Coin is only compatible with magnetic strip-based cards, meaning that it will not work in much of Europe.

Despite these flaws, the Coin looks to further integrate the physical world into the digital world, and should bring a whole new level of convenience and organization to a person’s wallet. Coin will be available in the summer of 2014 for $100, or it can be pre-ordered now for $50 from onlycoin.com.