Say Good-Bye To The US Cent?

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If there were "savings", we citizens would certainly never see it materialized in the form of schools, roads, etc. etc. !!......Very true Carl !....

I would like to see the cent go just so I didnt have to deal with everything being priced $x.99

Removing the cent wont stop that, especially since the cent would still be valid for electronic transactions. With sales tax, something that cost $1.00 would be $1.06 where I live, still requiring a cent for exact change, but I am sure most places would gladly take $1.05 and call it good.

I thought I turned that on?

<Jbuck heads for the CCF Profile page again...>

Elimination of the cent coin would not eliminate the use of cents in transactions. All electronic transactions and checks could be written as usual. Only cash transactions would be affected, and even then only once per transaction. When I go the the grocery store, I usually buy multiple items. If these items are $1.99, $2.99, $1.49, and $4.97 then the bill would be $11.44. It might round up to $11.45 if I'm using cash, but that is a single act of rounding. You would not round the price of each individual item before getting the total! But this is all moot for me because I use a credit card as often as possible to get that 3% cash back reward (I would have gotten 34c back on this one!).

I probably was not clear in my idea of pricing. What I was referring to was to make currency and/or coins with a massive variety of values. In your instance above, you would pay for it with a $11.44 bill. If your bill came out to be $14.74, you would pay for it with a $14.74 bill. See how easy that is. No change required, ever.
Of course there is the very slight problem of making and keeping thousands of different denomination type bills. My further solution would be a magnetic or something type strip in all bills that would change into whatever you needed. This denomination would then be deducted from the micro chip emplanted in your nose or ear. If your purchase exceeded the amount allowed by this chip, you would get electricuted by that chip thus eliminating the necessity of over drafts. Also, the following funeral arragements could also be deducted from that chip.
See how easy things could be.

Incorrect. Banks and electronic transactions (and even checks for that matter) would still be to the nearest CENT. It is only for cash purchases where rounding would take effect.

For those of you who think you will lose a lot of money to businesses pricing things at $0.99 and collecting a dollar, here's some examples (assuming you live in Delaware and pay no sales tax):

1 item at $0.99 = you pay $1.00, store gets the extra cent
2 items at $0.99 = $1.98, you pay $2, store gets the extra 2 cents
3 items at $0.99 = $2.97, you pay $2.95, YOU get the extra 2 cents
4 items at $0.99 = $3.96, you pay $3.95, YOU get the extra cent

So you can see, that depending on the number of items you purchase, the rounding goes both directions. When you buy a cartload of groceries, you will always be within 2 cents, one direction or the other, of your total, and only round if you pay cash. For electronic transactions it will be exact, and you will not lose a cent, and the earth will still rotate on its axis.....

For those of you who have difficulty "thinking outside the box", it is the total amount at the end of the transaction (including any taxes that are applicable) that gets rounded, not each individual item. I wish I could find them now, but studies have been done to show that it isn't a ploy to screw the little guy. The problem is, people are resistant to change. Especially Americans. I know, I used to be one of them, until I encountered it firsthand. Now I can't figure out why it hasn't been fixed already.