Earlier quoted context omitted.
Also for the memes…
$0.67 coin is on the way
$0.666. Half the population would think it's the mark of the beast, the other half rounds up to 6-7.
The last-ever penny will be minted today in Philadelphia
191–200 of 981 posts
Re: The last-ever penny will be minted today in Philadelphia
#192I'd say screw it, get rid of nickles and dimes as well. Quarters can stay, for now. It's a complete waste of money and time continuing to mint such low-value currency. It can't be used for just about anything. Unfortunately, I do see the problem with part of this. For a handful of items where it does matter, it will force people to use cards more if they want to avoid rounding. And the card providers already have a c…
The last time a coin was dropped was the half penny in the late 1850s, when I think it was worth about 25 cents today, so there is a precedent for what you are suggesting.
CCP Grey has a nice video and discusses the precedent: https://www.youtube.com/watch?v=y5UT04p5f7U
Re: The last-ever penny will be minted today in Philadelphia
#193Earlier quoted context omitted.
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Quite the opposite. As a fully abled person I find it incredibly annoying to have to flip through US notes instead of just immediately picking out the right one by size and/or color.
Use a wallet with a divider, and sort your bills. Won't have to flip through until you carry several each of five or more denominations. If you regularly do, then use two dividers.
Re: The last-ever penny will be minted today in Philadelphia
#194Earlier quoted context omitted.
just make the price a multiple of five cents
State and local taxes make this infeasible
It's just American custom to exclude some taxes from the posted price. Many countries include all taxes in the price, something I've always wished we would do in America. After that, I'd love to see the elimination of the custom of always ending fuel cost per gallon in 9/10 of a cent.
Re: The last-ever penny will be minted today in Philadelphia
#195I watched a video on the demise of the penny and its predicament was so succinctly explained: everyone gets pennies as change but few carry them around let alone spend them, so we are stuck producing ever more. One news outlet even did an "experiment" where they threw hundreds of pennies on the ground in a city on a busy morning and not one person stopped to pick any up.
> everyone gets pennies as change but few carry them around let alone spend them It's not just pennies, it's all coins. In a former life I worked in retail and almost nobody would fish around in their pockets for exact (or even near) change. They'd always hand me bills for their purchase even if they had just completed a transaction and had the coins in their pocket . That was in the 90's, and I still see it happenin…
That's incredibly bizarre. If I have coins my first instinct is to spend them ASAP so I don't have to carry them around.
Re: The last-ever penny will be minted today in Philadelphia
#196Earlier quoted context omitted.
It's a bit odd that the mint doesn't emboss the denomination in braille on each note. I'd think that there would be a way to do that and have it hold up pretty well in circulation?
Braille does not help everyone. Most people with vision issues are not legally lind and do not know braille.
It's wild to see you downvoted. Only about 10% of blind people know braille. There are many more people who have visual impairments but are not blind. Braille is not a universal solution (though I would rather have it than not have it).
Re: The last-ever penny will be minted today in Philadelphia
#197I'd say screw it, get rid of nickles and dimes as well. Quarters can stay, for now. It's a complete waste of money and time continuing to mint such low-value currency. It can't be used for just about anything. Unfortunately, I do see the problem with part of this. For a handful of items where it does matter, it will force people to use cards more if they want to avoid rounding. And the card providers already have a c…
But add a $3.50 coin so that we can strongly incentivize coffee to stay below a certain price.
My local just went from $3.50 to $4 this week :(
Re: The last-ever penny will be minted today in Philadelphia
#198Earlier quoted context omitted.
State and local taxes make this infeasible
Retailers don't, like, have to add sales tax on top of listed prices. They just have to pay it.
No, it's illegal in many, looks like most states:
https://www.avalara.com/blog/en/north-america/2019/07/retail...
Re: The last-ever penny will be minted today in Philadelphia
#199Some interesting complications with rounding I had not heard about before were mentioned here, worth noting I think, especially given the prominence of SNAP in the news lately: >Four states - Delaware, Connecticut, Michigan and Oregon - as well as numerous cities, including New York, Philadelphia, Miami and Washington, DC, require merchants to provide exact change, according to the National Association of Convenience…
They can round down the card transactions too if it’s really a problem to charge differing amounts.
For those that seriously think this would be a major problem there was a comedy skit circulating in Australia when this happened. A guy would push his car to the petrol pump, fill with 2c of petrol, rounded down to 0. The guy at the counter just laughed at it. You could in theory do this 1000 more times (would take hours) for $20 of free petrol. At least until the worker got sick of it and enforced the whole right to refuse service.
Re: The last-ever penny will be minted today in Philadelphia
#200Earlier quoted context omitted.
sales tax should be charged per item, not for the total transaction, so that it's possible to list prices that include the sales tax.
Sales tax varies by state/county/city. It is generally not cost-effective to have each individual store label all their products with local sales taxes applied.
I see this excuse all the time, but why not? This calculation does not need to happen more often than the product prices are adjusted. There's no difference in effort between labeling something "$5.52+tax" and labeling it "$6".