I have a Nikon Coolpix camera to which I frequently and unfortunately lose the cord that connects it to the computer to upload my pictures. Is an SD memory card reader what would be best to have around in case I lose the cord? If so, how does the card reader work?
A card reader is very convenient. You simply plug it into a USB port on your computer and then you can plug the memory card into it to connect your card directly to the computer. I would definitely recommend a card reader. They are highly convenient!
I have about 4 of them. 1 in my camera bag, 1 built in laptop and 1 attached to my desk top and a spare just for the heck of it. You put the card in the reader then open the reader in computer like a drive, find your pictures folder and copy/paste to your computers pictures folder (it's always best to back up all pictures to an external source like an external hard drive or back up to DVD).
The card reader is better to have INSTEAD of your camera cord. Buy a reader and throw the cord away.
A card reader—as you've undoubtedly seen from other answers—is highly recommended. You can still replace your lost cord with any USB cord with a mini plug (not the full-sized plugs meant for printers, or the micro-sized ones meant for cell phones). The cord would only help in those rare cases where you need to directly access the camera for firmware or theme updates, or if you happen to use direct camera-to-printer printing.