jungalist
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Bye bye Pennies!
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Yay, we are ditching the penny starting this fall!
http://www.cbc.ca/news/business/story/2012/03/29/federalbudget-flaherty-penny-cent.html
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Shazami
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lol
America be following eventually...
When tho? lol ...
Seriously, pennies = worthless, lol
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Ptilk
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Wish the US would do that. But every time someone tries you get some congresscritter on the floor of the House crying about it and making dire predictions that the world will end and moaning about how people just need to save them and get rich but are too lazy these days....
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Brandun
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just remember, EVERYTHING will be rounded up
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Ptilk
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Bye bye Pennies!
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If every purchase I make costs me an extra 4 cents, over the course of a year I might spend an extra 17 bucks.
Big whoop.
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Ibbeh
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Bye bye Pennies!
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a penny saved
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ikkoikki
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Bye bye Pennies!
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Pennies are worthless, I've always just tossed them into the garbage.
What am I gonna do, save 100 of them so I can buy one-half of a candy bar? ridiculous.
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-Foxy-
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Bye bye Pennies!
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ive never liked the 99 cent rule
its 12.99!!
129.99!!
no, just make it 13 bucks or 130 bucks.
sheesh makes the numbers messy
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Lothland
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http://www.youtube.com/watch?v=y5UT04p5f7U&list=PL87DB3F7E8107A4AE&index=1&feature=plcp
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Ptilk
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Bye bye Pennies!
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They should get rid of nickles and dimes as well.
Oh, and require the prices displayed and/or advertised for everything to include sales tax.
Oh, and shelf tags in grocery stores should have to be per item, not this crazy 7/$4.87 crap they are all using these days.
Oh...and get off my lawn!
/old man rant off.
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jungalist
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Bye bye Pennies!
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Guy who didn't read the article posted:
just remember, EVERYTHING will be rounded up
Article posted:
But the nickel and diming can work both ways. A sandwich combo at a deli in Oakville, Ont., that today costs $4.86 after HST would round down to $4.85 under the plan.
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Kordirn
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I understand Brandon's pessimism when it comes to companies always rounding up, but it actually works both ways.
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ikkoikki
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Bye bye Pennies!
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Ptilk posted:
They should get rid of nickles and dimes as well.
Oh, and require the prices displayed and/or advertised for everything to include sales tax.
Oh, and shelf tags in grocery stores should have to be per item, not this crazy 7/$4.87 crap they are all using these days.
Oh...and get off my lawn!
/old man rant off.
I vote Ptilk for president
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deadcactus
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Wonder how long until we move to an all plastic system...
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Dark_EternalFF
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Bye bye Pennies!
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Pennies just sit idly in my drawer at work. I'm sure I have...like a whole dollar's worth  Can't put 'em in a vending machine, not hauling that much change to 7-11...by the time I saved up enough pennies to make a trip to the bank and deposit them with gas prices what they are, my car would probably be fkin full of pennies.
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the_great_intex
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Bye bye Pennies!
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Cant wait till we knock out dollars also!
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Brandun
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Bye bye Pennies!
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the_great_intex posted:
Cant wait till we knock out dollars also!
5's are worthless!!
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Gaevren
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Bye bye Pennies!
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Ptilk posted:
require the prices displayed and/or advertised for everything to include sales tax.
I've always thought we should do this. Would make things MUCH easier for shoppers.
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Banelord_FF
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Bye bye Pennies!
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The only reason they won't get rid of pennies is gas prices. Otherwise people wouldn't be able to waste $5 worth of gas so they can drive to another gas station and save $0.02 a gallon and fill up their 15.5 gallon tank.
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Jyiiga
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It takes me years to even get a handful of change and for a simple reason. I don't use cash. I use my debit or credit card for practically every single purchase I make and why wouldn't I? I get perks galore and I pay off my cards with every two weeks. -shrug-
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winga
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Bye bye Pennies!
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I have way too much change... should probably take that to the bank soon.
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HeartView
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Bye bye Pennies!
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Brandun posted:
just remember, EVERYTHING will be rounded up
Not true. You'll see a lot of $4.95 instead of $4.99, for instance.
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Sith_Mauler
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Bye bye Pennies!
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HeartView posted:
Brandun posted:
just remember, EVERYTHING will be rounded up
Not true. You'll see a lot of $4.95 instead of $4.99, for instance.
bullcrap do none you realize the scale of economy?
when you are moving xxx,xxx amount of product like any major retailer every penny adds up.
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jungalist
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Bye bye Pennies!
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Sith_Mauler posted:
HeartView posted:
Brandun posted:
just remember, EVERYTHING will be rounded up
Not true. You'll see a lot of $4.95 instead of $4.99, for instance.
bullcrap do none you realize the scale of economy?
when you are moving xxx,xxx amount of product like any major retailer every penny adds up.
You don't understand how this works. It isn't about the individual price of an item, it is about the after tax total. So you ring up a bunch of crap at the stereo store and after the tax goes in your total is $104.97. This gets rounded down to 104.95 - by law. Even if it were up to the discretion of the shopkeeper you would lose at max 4 cents on a transaction, not 4 cents per item.
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HeartView
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Sith_Mauler posted:
bullcrap do none you realize the scale of economy?
when you are moving xxx,xxx amount of product like any major retailer every penny adds up.
Umm...
ANY retailer attempting to suddenly gouge people PER ITEM will quickly find themselves without customers. Duh.
The rounding will happen at the transaction level, not by individual item.
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Sith_Mauler
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HeartView posted:
Sith_Mauler posted:
bullcrap do none you realize the scale of economy?
when you are moving xxx,xxx amount of product like any major retailer every penny adds up.
Umm...
ANY retailer attempting to suddenly gouge people PER ITEM will quickly find themselves without customers. Duh.
The rounding will happen at the transaction level, not by individual item.
how are you going to know really?
the price of stuff changes weekly.
like where I work at all items got at min a $1.80 increase in prices, due to the cost of food coming from our distributors.
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myxomatosis8
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-Foxy- posted:
ive never liked the 99 cent rule
its 12.99!!
129.99!!
no, just make it 13 bucks or 130 bucks.
sheesh makes the numbers messy
This, I can't wait for those stupid prices to go away. But they'll probably make them 1.95 or 290 from now on.
Oh and lots of places like Argentina have been more or less working with almost no small coins for a LONG time now. They give you change in candy or single blister-pack aspirins.
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AliHajiSheik
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It's the penny some want to get rid of, not the $.01 electronic transaction. If that were the case, a whole lot of systems would need to be reprogrammed.
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HeartView
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Sith_Mauler posted:
how are you going to know really?
the price of stuff changes weekly.
like where I work at all items got at min a $1.80 increase in prices, due to the cost of food coming from our distributors.
Personally? I wouldn't likely notice because I'm never that low on cash to care. But I know a whole lot of folks that would notice and complain... loudly.
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JD_HOGG
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It's stealth inflation.
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JD_HOGG
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Bye bye Pennies!
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HeartView posted:
Brandun posted:
just remember, EVERYTHING will be rounded up
Not true. You'll see a lot of $4.95 instead of $4.99, for instance.
Or they'll just go ahead and make it $5.00.
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Sith_Mauler
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JD_HOGG posted:
HeartView posted:
Brandun posted:
just remember, EVERYTHING will be rounded up
Not true. You'll see a lot of $4.95 instead of $4.99, for instance.
Or they'll just go ahead and make it $5.00.
and that 1 cent adds up when you are moving volume at any chain store rate.
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Sith_Mauler
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HeartView posted:
Sith_Mauler posted:
how are you going to know really?
the price of stuff changes weekly.
like where I work at all items got at min a $1.80 increase in prices, due to the cost of food coming from our distributors.
Personally? I wouldn't likely notice because I'm never that low on cash to care. But I know a whole lot of folks that would notice and complain... loudly.
then these people need to open their eyes and come out from under their rock, inflation has been ticking up for the past few years now.
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Ptilk
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1 million pennies is only 10K.
100 million pennies is "only" a million.
They don't add up to enough for anyone to give a damn about.
Sure, I'd take an extra million if someone offered...but if they offered it in pennies I'd be making coinstar rich as hell...and not giving a damn.
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Darwynnia
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Brandun posted:
just remember, EVERYTHING will be rounded up
If you pay cash, it'll get rounded up/down.
If you pay by debit card (the way we do in DK), it doesn't.
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Gibbon_raver
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*shrug* Eliminating the penny has been discussed since the 70s.
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HeartView
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Darwynnia posted:
Brandun posted:
just remember, EVERYTHING will be rounded up
If you pay cash, it'll get rounded up/down.
If you pay by debit card (the way we do in DK), it doesn't.
A VERY good point as well. This will ONLY affect cash payments. If you pay by credit card, debit card, check, money order, mobile payment, etc. then you'll be paying the same price.
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DunesVladHarkonnen
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rofl at the doomsayers and alarmists...just LOLz.
The government estimates it loses $11 million a year producing and distributing the penny, and that doesn't include the costs and frustrations for businesses and consumers that use them in transactions.
This is why it's being done.
The +/- pennies will all work out in the end. And if your business can't handle an increase of 2cents per inventory purchase, then you deserve to go out of business.
It's been said before...but maybe I'll reiterate. TOTAL = we can't round to the penny so we round to the 5cent. Unless you do only 3-4cent transactions everyday a million times, this is not even an issue.
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4f42e863aa37233fca
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get rid of pennies frees up the materials used to produce them.
which means they can use those materials for nickels and dimes instead and save money on those materials.
the value of coinage is now worthless from a metals perspective and everything devolves to fiat currency and digital debt record.
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Mangler_SC
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Brother_Tempus posted:
Ron Paul posted:
I predicted this.
Buy GOLD!
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HeartView
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I'm going to buy all the Canadian pennies on Saturday morning.
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Sarena_WE
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Gaevren posted:
Ptilk posted:
require the prices displayed and/or advertised for everything to include sales tax.
I've always thought we should do this. Would make things MUCH easier for shoppers.
I think most of Europe already does this. At least Germany did when I lived there. I remember coming to visit family in the US when I was little and I went down to the General store to buy a comic and some candy. I handed the teller the exact total with my items and they looked at me and said "your total is X, you need more money". That was when I found out the US was bassackwards that way.
I was used to walking into to a store, seeing an item for DM10 and handing them a DM10 bill. Oh and most of them didn't do that stupid .99 or .97 crap either, it was round numbers.
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