Pennies, go away please

Discussion in 'Off-topic' started by NTA, Apr 5, 2019.

  1. NTA

    NTA Well-Known Member

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    I've had two change making experiences as a customer last week that may signify a trend.

    First one owed me 2 cents on an transaction and the second one owed me 4 cents back.
    Both cashiers asked if I wanted my pennies.

    Wonder if they will bring back that proposal from many years ago that any final cash tally that totals one or two cents past a (modulo 5) nickel amount then forget paying the penny or two. But if the total is one or two cents short of a nickle amount, then round it up to the nickle.
    Checks and credit card transactions stay to the exact penny amount of course.
    Pennies would go away as far as being needed, but probably still legal to use (rounded up when needed to stay on the plan of course) until they dry up.

    If I remember right, this proposal failed because folks were too dumb to understand it and were convinced they would be cheated by this scheme. I suppose to make it work in this computer world, the final printed total would need to reflect the rounding on the cash register sales receipt. Keeps the monthly cash register accounting accurate to the penny (nickle really).

    Brinks trucks probably get paid a lot to tote tons of pennies around every day.
     
  2. Suburbbus

    Suburbbus Well-Known Member

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    Canada has done away with the penny. It was a lot less trouble paying for stuff the last time I was there.
     

  3. Malum Prohibitum

    Malum Prohibitum Moderator Staff Member

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    We need $500 and $1000 bills.

    They won't do it because they do not want you doing things they cannot track.
     
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  4. mrhutch

    mrhutch Well-Known Member

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    If they get rid of the penny, it's a safe bet that sales tax will get rounded up to 10%. Pass. If they didn't do that, cash customers would get short changed or businesses would have to take the loss on every cash transaction. Believe it or not there are still a lot of those.
     
  5. NTA

    NTA Well-Known Member

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    I'm 71 years old and remember when my dad brought home six $1,000 bills. Around 1963. Why ? Don't know, he was always doing nutty things.
     
  6. NTA

    NTA Well-Known Member

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    Yes they would take a loss on every OTHER transaction.
     
  7. rmodel65

    rmodel65 Yukon Cornelius

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    I'll pass and keep the pennies. I want exactness in the money transaction
     
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  8. 45_Fan

    45_Fan Well-Known Member

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    I’m not clear on how I push physical currency through the tubes.