i just bought this as well... my dept store had it on special for under $40. it *was* going to be my first ever MK piece... but the zipper was defective on the back coin pocket and i exchanged it. same thing with the second one i tried. i have heard terrible things about mk items and sadly, it came true for me. the layout of this item is wonderful though and i really liked the look. i just didn't see being able to have this hold up for long with the bad zipper, it catches on itself and tilts to the side so you can't run it straight. this is my experience only with this item... i bought it in navy.
Yes the first one I tried in the store had that problem. The one I bought is fine. No problems so far. I just love this little wallet.