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Old 09-07-2018, 07:58 AM
 
33,347 posts, read 39,733,081 times
Reputation: 28738

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Quote:
Originally Posted by Themanwithnoname View Post
And yes, I pick up pennies on the parking lot.... Get your grubby paws off my pennies!
I find everytime i visit the USA i end up with pockets full of pennies as most transactions are priced in such a way as to give you back 4 pennies in change and also if paying with larger denominations you also get back 4 one dollar bills, Ill keep the dollar bills but the pennies get tossed to the curb.
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Old 09-07-2018, 08:00 AM
 
5,525 posts, read 8,281,690 times
Reputation: 7452
Quote:
Originally Posted by jambo101 View Post
I find everytime i visit the USA i end up with pockets full of pennies as most transactions are priced in such a way as to give you back 4 pennies in change and also if paying with larger denominations you also get back 4 one dollar bills, Ill keep the dollar bills but the pennies get tossed to the curb.
I live here.

I spend coins.

I don't.
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Old 09-07-2018, 08:03 AM
 
Location: Sarasota, FL
503 posts, read 256,736 times
Reputation: 650
Quote:
Originally Posted by Themanwithnoname View Post
Coinpurse. (I carry a wallet too)

One of those little rubber ones that open when you squeeze it and isn't much bigger than the face of a watch.

I pay cash, exact change most of the time (never gets to be too much because I USE them) and I'm done and away LONG before those SLOW ASSED PEOPLE using their cards and retarded phone apps that take FOREVER!!!!


And yes, I pick up pennies on the parking lot.... Get your grubby paws off my pennies!
Nothing wrong with any of this. But I will not carry a coinpurse. I usually have 1-4 coins inside my wallet, but no more than that. I keep my pockets as empty as possible. My keychain has 2 keys - car and house. My wallet is bi-fold (not TRI-fold) and thin by design, with a few credit cards and misc stuff as possible.

Only guys I've seen with coinpurses tend to be older, I'd say over 60. Again nothing wrong, but appears to be a habit fading away. And all the more reason to let coins themselves fade away.

While I agree credit cards tend to take FOREVER, especially since they moved to the chip reader, the phone app payments are actually very quick. At least Apple Pay, which I do use - really takes less than 5 seconds total.
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Old 09-07-2018, 08:04 AM
 
Location: Willamette Valley, Oregon
2,989 posts, read 771,905 times
Reputation: 4071
What would happen if I took my quart mason jar, filled to the top with pennies, nickles, dimes, and quarters to the bank to exchange for folding money? I'm guessing they would refuse unless I had them sorted and put in those paper coin holders. I haven't tried it so I don't know. I like our coin jar. I'll sometimes sort through it to get the quarters out. I support phasing out pennies and maybe nickles too. Stores seem to like pricing things at X 99. Why not just round to whole dollars?
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Old 09-07-2018, 08:10 AM
 
Location: Sarasota, FL
503 posts, read 256,736 times
Reputation: 650
Quote:
Originally Posted by Willamette City View Post
What would happen if I took my quart mason jar, filled to the top with pennies, nickles, dimes, and quarters to the bank to exchange for folding money? I'm guessing they would refuse unless I had them sorted and put in those paper coin holders. I haven't tried it so I don't know. I like our coin jar. I'll sometimes sort through it to get the quarters out. I support phasing out pennies and maybe nickles too. Stores seem to like pricing things at X 99. Why not just round to whole dollars?
A bank will take your jar of coins. Every bank has a coin-counter in the back they just dump those jars in. Heck, some banks even put the coin-counter machine in the lobby now and you can do it yourself.

If you are a customer, they will exchange the coins for free. If you are not a customer, some banks will charge a fee for the all-coin exchange.


Regarding the .99 price, it's been proven to be psychological. $4.99 sounds cheaper than $5. It's only a penny difference, but it does make a difference in shopping habits. And most of the time, tax will take it to something like $5.31 anyway.
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Old 09-07-2018, 08:17 AM
BMI
 
Location: Ontario
6,679 posts, read 3,966,398 times
Reputation: 4945
I think Canada did the right thing.

Got rid of the penny.

Now prices are either rounded up or rounded down.

For example...

$ 1.32 is rounded down to $ 1.30
$ 1.33 is rounded up to $ 1.35

Makes sense.

Canadians love their loonie and toonie coins, replacing “paper” $1 and $2 dollar bills,
most would not want to go back to paper bills for those low denominations.

This is something where USA should copy Canada...
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Old 09-07-2018, 09:59 AM
 
126 posts, read 41,247 times
Reputation: 243
No way. Pennies are awesome. I've collected almost $50 this year from pennies I've picked up off the ground.
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Old 09-07-2018, 12:32 PM
 
407 posts, read 257,608 times
Reputation: 1617
Quote:
Originally Posted by BMI View Post
I think Canada did the right thing.

Got rid of the penny.

Now prices are either rounded up or rounded down.

For example...

$ 1.32 is rounded down to $ 1.30
$ 1.33 is rounded up to $ 1.35

Makes sense.

Canadians love their loonie and toonie coins, replacing “paper” $1 and $2 dollar bills,
most would not want to go back to paper bills for those low denominations.

This is something where USA should copy Canada...
A smart business guy would NEVER price anything without that .03 or .08 on the end... Great way to fleece the masses.

Good luck, Rg
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Old 09-07-2018, 02:06 PM
 
Location: Sarasota, FL
503 posts, read 256,736 times
Reputation: 650
Quote:
Originally Posted by BMI View Post
Canadians ... most would not want to go back to paper bills for those low denominations.

This is something where USA should copy Canada...
I just don't know where/how people carry those coins. I frequently have anywhere from 1 to 6 single dollar bills in my wallet. I would not want to replace those with a bunch of coins. Coins are bulky, they bunch up in the corner of my wallet, it hurts to sit on them. Alternatively, I don't want to have coins in my front pocket all the time. Just doesn't make sense to me.

Quote:
Originally Posted by raggedjim View Post
A smart business guy would NEVER price anything without that .03 or .08 on the end... Great way to fleece the masses.
You assume they are always priced to round up, and assume people are buying a single item. But once you factor in taxes, or multiple items, the odds of any given price always rounding up is greatly reduced. Sure, companies will figure out best pricing. But it's also unlikely products are going to suddenly go from $1.89 or $1.95 to $1.93 just so a company can round up and make a couple more cents.
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Old 09-07-2018, 02:23 PM
 
Location: Vancouver
11,703 posts, read 8,091,382 times
Reputation: 6686
Quote:
Originally Posted by MattMN View Post
I just don't know where/how people carry those coins. I frequently have anywhere from 1 to 6 single dollar bills in my wallet. I would not want to replace those with a bunch of coins. Coins are bulky, they bunch up in the corner of my wallet, it hurts to sit on them. Alternatively, I don't want to have coins in my front pocket all the time. Just doesn't make sense to me.



You assume they are always priced to round up, and assume people are buying a single item. But once you factor in taxes, or multiple items, the odds of any given price always rounding up is greatly reduced. Sure, companies will figure out best pricing. But it's also unlikely products are going to suddenly go from $1.89 or $1.95 to $1.93 just so a company can round up and make a couple more cents.
Also keep in mind, rounding up and down only happens with cash transactions. Debit and Credit payments aren't rounded.
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