Pennies Good Or Bad?

Rouding goes up or down.

In most cases, it will probably go down because the money lost is still less that what the retailer y would have paid for a credit card swipe.

With the loss of the cent in Canada, Home Depot (and probably others) has already set a precedent for rounding all cash transactions down.

Pennies are useless (Except to place in my year folders). They cost the US mint 2.41 cents* (as of 2011) to produce and very few people actively circulate them. Nickels are terribly expensive to mint at 11.18 cents* per coin (as of 2011), but phasing them out might be a harder pill to swallow for the public at large.

*http://www.usmint.gov/faqs/circulat...ulating_coin

In theory yes, but we dont know what stores will actually do unless you pass a law saying that. Even in that case all they would have to do is adjust their prices a few cents so everything comes out to a total that rounds up.




I just dont see how it would be possible. If you buy something for 20 cents and give a quarter a store isn't going to give you a dime instead.

I agree it is possible to use two dimes for that purchases but we all know if someone only has a quarter they will use that. Plus they wouldnt even be able to go anywhere to get change for the quarter they would either have to spend it on a more expensive purchase or deposit it in the bank. I just dont see anyway people would be happy with that

I bring this up a lot, but there are more than a few places around here that already round cash payments down. One place in particular rounds down to the dollar (they really do not like working with change).

Why is everyone so cynical? It is sickening that so many think that "Every business is out to get us!"

Every business owner should knows that if they do not take care of their customers, someone else will.

So, for those who think they need to round everything up, do it. I will let your customers know that I round down. We will see who is in business this time next year.


I am guessing you have never run a retail business or worked in one. The time spent for such little profit is better spent attending your customers needs. Again, serve them well, or lose them to the competition.


Seriously, when is the last time you bought something for Twenty Cents that did not come out of a Gumball Machine?

Deal with real life purchases and losing five cents to the customer is not a big deal, especially when their paying cash just saved you a swipe fee.


Getting rid of the cent is a no-brainer. Getting rid of the nickel would be awkward, but not impossible. I would not do both at the same time though.

Its not that theyre out to get us but that they have no interest in losing money. I do believe the rounding already happens in parts of the country, theres also part of the country like near DC where I live where no one does it. Like roll searching location will be everything for if this happens or not.




With computer pricing it wouldnt take very long to make the change. 5 cents may not be much on an individual transaction but if you sell 50k things a year thats 2500 bucks which would be more than worth the extra few hours to make the changes for an owner. Even half of that would be more than worth it.




You cant even get a gumball for that but I was just using that as an example. The same thing applies to 5.20 or 10.20 or any other that ends in 20




I definitely agree with that though I think the nickel is here to stay for a LONG time

Well...one penny can be used to buy a horse ride at Meijer!! yay! now those rides are half used by little kids and half by teenagers having fun

I can assure you, it does not work that way. Sales tax by itself really puts a kink in your plan. Sure, if people bought one item at a time. But, it never works that way. There is no possible way to guarantee that the ticket total is always going to come out to round up.

Right, with $5.20, you give me $5.25, I give you a dime; net sale is $5.15. I am okay with that. Your customers are going to love me.