Would you ever consider sending your kid to school with last year's school supplies?

The boys brought home their book bags this week, and they were full of pens, pencils, crayons, colored pencils, etc, and of course all of these things are on their supply list for next year. I am incredibly tempted to send them on the first day with this year’s pencil bag full of hardly used stuff, rather than spending the money for new supplies. Would you do it? Do you see the ritual of shopping for school supplies as too important to miss? Might sending used supplies be dooming your child to a year of teasing because they don’t have brand new stuff?