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Well, you should have a mirror of some sort in your gear.  One comes in handy in various ways, most particularly when used as a signal mirror, but also to direct sunlight into dark spaces, and various other uses.  A compass is a good place to keep one and it comes in handy also in navigation in various situations.

I believe you can buy a dedicated signal mirror for less than $20, if the cost is important.  Actually, if I had to choose, I would carry a signal mirror and leave the compass behind and hope for good weather.  But I always carry both.

Actually, the most important aspect of a compass is reliability - a feature worth paying for, because if you need to use your compass, most likely you will need to trust it completely and that can get 'interesting" very quickly.