I have been using my Marc Jacobs Zip Clutch Wallet ($295 at Bergdorf Goodman) for about 5 years now. The leather is soft and it's still in great condition. My favorite part of the wallet is just all the nice compartments, including the handy outer flap where I can quickly place parking garage tickets or doctor's appointment cards. I find the two outer coin pockets to be really convenient because having more coins doesn't prevent you from closing your wallet.
To be honest, I'm in a dilemma because I am itching for a new wallet (just for the heck of it) but I can't seem to find one that matches this one for all it's wonderful compartments inside and out. For quick trips to the corner store, I can even put my house key and iPhone in here and have it all in one place. It's sleek and clean-looking on the outside so I always get compliments from sales clerks on the beauty of my wallet.