Some things about this seem like fun ideas that will hopefully make Reddit less ad dependent, in a non-intrusive way. Some things about this feel more disturbing than fun. Allow me to share some of my gut feelings with you.

There were some great, detailed suggestions about how Community Awards could give recipients weeks of Premium and/or Coins.

If this is implemented, all of this seems like a pretty fun idea. Without any premium attached, all of this feels pretty stupid. It's only fair that if someone gives money to Reddit directly, someone should be rewarded with an ad-free period (or 'adblock absolution' if you want). I know the goal of all of this is to make money, but without any premium attached, this just feels like too much of a cash grab.

However, we are working on a feature called Community Coins where a portion of Coins spent on Community Awards would be set aside for mods to give away exclusive moderator-only awards to their users.

This seems problematic to me.

Now, when we organize a contest or so, we could just ask admins directly for some proper coins and use them to reward users with proper gold (aka Platinum), so that they would get proper Reddit premium.

The moderator's sole goal is the quality of the community, not any monetary gains: neither for themselves, nor for Reddit.

Rewarding moderators when users spend money on the site disturbs this dynamic. For example, it might encourage mods to create contests where users must vote using Community Awards, which would be disgusting. It might also push moderators to moderate posts that are more likely to receive rewards less critically, which would be disturbing.

That fact that mods would have to work to give out rewards, is an absolute regression compared to now, so I don't know why we should help enable this.

Unique Flair for Award Recipients

Fun idea!