Steel Coin Bill Gets Hearing In House. - Page 4

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Author	Replies: 54 / Views: 5,519	Page: of 4

Rewster Valued Member United States 208 Posts	Posted 04/25/2012 2:48 pm I vote we go to nothing but Ikes and Kennedys for coins. That would solve the $.05 debate. Jbuck, I see your point, and would agree that the locally owned shops do/would round down. But I can't see the chain stores like Wal-mart doing that. I may be wrong. The best comparison I can think of is cell phone companies. If you talk on your cell phone for 1.01 minutes, how many minutes does that count for? Report this Post to the Staff
jbuck Moderator United States 189340 Posts	Posted 04/25/2012 2:54 pm Quote: I vote we go to nothing but Ikes and Kennedys for coins. That would solve the $.05 debate. I can live with that. Quote: But I can't see the chain stores like Wal-mart doing that. Not really an issue for them. Most big box stores already have a proper POS system that can handle the change. Quote: If you talk on your cell phone for 1.01 minutes, how many minutes does that count for? The cellular and long distance phone companies used to round everything up and they got a thorough beat-down for it. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
JSH Valued Member United States 410 Posts	Posted 04/25/2012 10:06 pm I can't see stores like Wal-mart always rounding down either. They will simply scan the items, apply sales tax, and the cash register will round correctly. Exactly what happens right now at the gas station when you buy gas priced in tenths of a penny. Report this Post to the Staff
jbuck Moderator United States 189340 Posts	Posted 04/26/2012 10:26 am Quote: I can't see stores like Wal-mart always rounding down either. They will simply scan the items, apply sales tax, and the cash register will round correctly. Correct. That was my point, they can do proper rounding with technology. There are two reasons to round down: to impress their customer ("We are not cheating you!") and to make it easier on the cashier. The latter does not apply to most big boxes with current POS systems. Some could argue that the former does not apply either. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 04/26/2012 11:10 am Quote: Didn't they also have fairly significant profits on numismatic items? $51 million So yes if you put that in they would have still shown a profit of $17 million, but wouldn't it make more sense to drop the cent and nickel and make $106 million plus the $51 million for a total of $157 million instead of $17 million? Or get rid of the dollar bill, keep the dollar coin and show a profit of $382.8 Million plus the $157 million for a total of $539.8 million instead of $17 million? Report this Post to the Staff
jbuck Moderator United States 189340 Posts	Posted 04/26/2012 11:57 am Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Merc Man Pillar of the Community United States 561 Posts	Posted 04/26/2012 12:01 pm Quote: but wouldn't it make more sense Need I remind you of whom we are speaking? Though I do love the fact that it would appear obvious thanks to your explanation. Report this Post to the Staff
ninamason Pillar of the Community United States 1227 Posts	Posted 04/27/2012 1:48 pm What we need is availability and education about our money, because then all but the most stubborn sons-of-guns will make the change naturally on their own. And, since one argument I've heard essentially boils down to "But Lincoln, though! Lincoln!!" apparently we need to arrange a new coin with Lincoln on it, since the $5 bill isn't enough. . . . . I vote for this new .15 cent coin we're going to be needing, since we're one of the few countries that has a .25 instead of a .20 Report this Post to the Staff
jbuck Moderator United States 189340 Posts	Posted 04/28/2012 12:18 am If we had never removed Liberty from our coinage, would we even be having this conversation now? Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
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