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And from the opposite, why should I as a customer pay 2 cents more?
Lol....Come on. The only reason there is even a price difference is if there is competition and in some cases the price is set by the manufacturer and you cannot sell it for less than that price.
Don’t kid yourself.... most if not all vendors will quickly and gladly pocket two cents on every transaction.
As has already been discussed, repeatedly, vendors can still price goods at $1.99 or $19.99. Then when all of your purchases are totaled up, the final amount is rounded up or down. You could lose 2 cents on one entire basket of groceries and make 2 extra cents on the next. Ultimately, it all comes out about even.
I haven't used coins for along time. About as long as no wrist watch.
If I were King I'd keep only quarters. Maybe dimes. The smaller coins are essentially time wasters, and we don't hardly use larger coins anyway.
The dollar has lost 90% of its value since the coinage was established. A quarter is actually worth 2.5 cents and a dime is worth 1 cent. I toss change into a fruit jar until it's full, then take it to the credit union to run through the coin sorter. As long as I deposit it in my account, it's free. I keep a few coins in my car for parking meters.
Lol....Come on. The only reason there is even a price difference is if there is competition and in some cases the price is set by the manufacturer and you cannot sell it for less than that price.
Don’t kid yourself.... most if not all vendors will quickly and gladly pocket two cents on every transaction.
That was my point. There won't be any "rounding down".
Not only would I get rid of the penny, I would also get rid of the nickel, which is also worth more in metal than its face value. I would bring back the Kennedy half-dollar and the Eisenhower dollar coins. I would get rid of the dollar bill, and bring back the $500 & $1000 dollar bills. I would strictly limit the faces on American currency to dead presidents.
In 1913 the lowest denomination was the penny. It was worth the equivalent of 27 cents today and people didn't have a problem with a coin valued at 27 cents being the lowest denomination.
Ax the penny or the nickel and make the dime the lowest denomination. We could even get rid of the quarter. That would rejuvenate use of the half dollar.
If we got rid of the dollar bill as competition, the dollar coin would be popular. We could create a 2 dollar coin like the Canadians, maybe even a 5 dollar coin, leaving just the $10, $20, $50 and $100 bills.
For money laundering reasons, we probably won't see $500 & $1000 dollar bills, but other than that, MSHULTZ has the correct idea. It's time for a whole re-ordering of our coinage and currency.
Yes, the devaluation of the American dollar is the fundamental problem. At one time, the silver dollar was one ounce of 90% silver, while the $20 gold piece was one ounce of 90% gold (the composition of gold coins varied over time, but was 90% when discontinued). The price of silver is $25.30 an ounce, while gold is $1,843.60 an ounce. The silver to gold price ratio has gone from 1:20 to 1:73 today.
In 1913 the lowest denomination was the penny. It was worth the equivalent of 27 cents today and people didn't have a problem with a coin valued at 27 cents being the lowest denomination.
Ax the penny or the nickel and make the dime the lowest denomination. We could even get rid of the quarter. That would rejuvenate use of the half dollar.
If we got rid of the dollar bill as competition, the dollar coin would be popular. We could create a 2 dollar coin like the Canadians, maybe even a 5 dollar coin, leaving just the $10, $20, $50 and $100 bills.
For money laundering reasons, we probably won't see $500 & $1000 dollar bills, but other than that, MSHULTZ has the correct idea. It's time for a whole re-ordering of our coinage and currency.
Let's get rid of all of the nuisance coinage.
Half dollar coins are hardly used today, dollars even less. I can't see our society suddenly up and changing to accommodate using larger coins clanking around in their pockets. We are not Canadians!
Half dollar coins are hardly used today, dollars even less. I can't see our society suddenly up and changing to accommodate using larger coins clanking around in their pockets. We are not Canadians!
lol! Speak for yourself. Some of us are Wannabes, at least, if not the Real Deal.
I'd be much more interested in seeing them eliminate the dollar note and pushing dollar and two-dollar coins..
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