Once people are used to the idea, I think far fewer deposit cans end up in the trash and tearing it up isn't fruitful. It's at least better than single sort recycling.

I collected cans with a friend when we were kids. It sounds like this is creating a bunch of extra mess though, as people rip open garbage bags looking for cans. 

Undisciplined

econ

Monetizing Cans — A Dutch Experiment

bitcoingraffiti

Bottle deposits (and the refunds you collect returning them) are awesome. I knew many people for whom this was a full time gig. They weren't making much, but for whatever reason it made sense for them. 

I have a pretty vivid memory of making a train of ten or twelve shopping carts and roaring through the midnight streets of Vancouver collecting a major haul with one particularly industrious fellow. He made pretty good money. 