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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
byBert64 ( 520050 ) writes:
Many countries have already done away with their lowest denomination coins.
Hopefully this does away with all the ridiculous x.99 pricing but it will probably just end up as x.95.
byDerekloffin ( 741455 ) writes:
As a Canadian, where Canada gave it up years ago, unfortunately I can confirm that's a big unfortunate no. .99 prices remain very much active. Keep in mind getting rid of the penny does not change any of the digital payment method's degrees of accuracy so unless something much bigger is put in place to enforce no pricing in below five cents and a concrete rule to resolve taxes in those 5 cent ranges, you'll continue to see .99s all over the place.
byMacMann ( 7518492 ) writes:
In the USA the smallest denomination for payment is not the penny but 1/10th of a penny, or "mill".
https://en.wikipedia.org/wiki/... [wikipedia.org]
Those paying attention to prices for fuel will notice the price advertised to the 1/10th penny most everywhere. When it comes time to pay though it's rounded to the penny. If the penny is taken out of circulation then just expect prices to round to the nickel.
byPowercntrl ( 458442 ) writes:
If the penny is taken out of circulation then just expect prices to round to the nickel.
Since the majority of payments are electronic these days, I doubt there'd be any pricing changes to accommodate the discontinuance of the penny.
Realistically, the biggest headache to come out of this is that every POS system would need its software updated to support rounding the total when a customer pays in cash. It's not quite the Y2K bug all over again, but it's close.
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byvux984 ( 928602 ) writes:
Not really a problem at all.
If the total comes to 10.02, the total comes to 10.02. The customer hands you 10.00 in cash, you open the till, put the 10.00 in and close it.
The next bill comes out to 9.96. The customer hands you 10.00 in cash, you open the till, put the 10 in and hand them a nickle.
At then end of the shift you reconcile the till, and you're out 4 cents (assuming you didn't make any actual mistakes). You write it down in the till variance (+/-) and it writes it off as a loss, and you move on. T
●nt threshold.
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