So how will you get accurate change? Are they going to be operating on some kind of rounding system? Are you going to take the loss of a few cents everytime you buy something? When people say they need to eliminate the penny they are not thinking it entirely through. If there is a case we can receive credit back in some form from these purchases I don't see it happening.
Time to get rid of the penny?
- Thread starter acri1
- Start date
Jesus Shuttlesworth
I Got Game
Yall got fukkin $2 coins in Canada. That's why you people will never manufacture automobiles.
Yes, because no country has ever phased out pennies before. I mean, it's not like Canada is doing this RIGHT NOW.
Obviously prices for everything would just start being rounded to the nearest five cent. There would be no need to use pennies to buy anything and banks would just keep them so they'd be gradually phased out of circulation.
Why are people freely giving money to Coinstar? If you have a bank account the bank will count your coins free of charge.
The penny does need to go. Watch idiots make the argument that we'll be losing money or its a tax on people. Are you really going to notice the difference if your $4.58 purchase is rounded up to $4.60?
The penny does need to go. Watch idiots make the argument that we'll be losing money or its a tax on people. Are you really going to notice the difference if your $4.58 purchase is rounded up to $4.60?
Allowing corporate enterprises to 'round up' a few pennies from each transaction would net them millions of dollars in a short amount of time.
If you do not think that penny round-ups would be abused....Just think of the lengths that businesses (banks, included) go to in order to subtly raise prices right now.
Prices would be strategically set to make you ante up your 2 cents...all for the sake of rounding or for your convenience.
If I had time, I would do an analysis on how much profit an enterprise could make in a quarter off of this initiative alone.
Pricing strategies would be set to the benefit Business....even if rounding down in the customers favor was an option.
It's only pennies but I am not trying to give it away only to make these people more wealthy...while they laugh at us.
If you do not think that penny round-ups would be abused....Just think of the lengths that businesses (banks, included) go to in order to subtly raise prices right now.
Prices would be strategically set to make you ante up your 2 cents...all for the sake of rounding or for your convenience.
If I had time, I would do an analysis on how much profit an enterprise could make in a quarter off of this initiative alone.
Pricing strategies would be set to the benefit Business....even if rounding down in the customers favor was an option.
It's only pennies but I am not trying to give it away only to make these people more wealthy...while they laugh at us.
Domingo Halliburton
Handmade in USA
isn't the metals in nickels actually worth 6.5 cents?
Is that it?
Jesus Shuttlesworth
I Got Game
Yes, because no country has ever phased out pennies before. I mean, it's not like Canada is doing this RIGHT NOW.
Obviously prices for everything would just start being rounded to the nearest five cent. There would be no need to use pennies to buy anything and banks would just keep them so they'd be gradually phased out of circulation.
How the hell, would I know...that is simply data to me.
And are you talking about if a subtotal comes to 2.63 -> 2.65 and 2.67 -> 2.65? Or is it 2.67 ->2.70?
yeah and you get actually cash in exchange for said coins
You one of them smart dumb muthafukkkas huh, or you are just
me..You taking about saving coins cuz they add up, which is true, and then you pay a machine to count said coins for a fee of like 8-10% for the coinstar.
When you could just count them your self and keep all your damn money.
If you have a bank, then will give you coin wraps for free. So dont even try that shyt.
I roll coins at the end of the year,why pay a machine when i can do it for free.
So actually,
Kings County
Law III | Law XXV | Law XV
cant remember the last time i used a penny to pay for anything... if i get a penny as change i just throw them shyts out no one uses pennies
Depends.
It's like this. If the penny goes away, you have to round down or round up. If something in the store costs $0.96 and tax was $0.05, you would be charged $1.01 right now. If we rounded down, the price would be $1.00. Who eats the $0.01? The business does. What will businesses do to prevent this loss? Raise their price. These small losses add up. So rather than lose money, they will profit, by a small margin. so they will charge $1.00 for something they used to charge $0.96. Not only that one product but everything.
For low-volume, high-profit margin, this isn't a huge deal.
In low-profit margin, high-volume stores like a grocery store, this is a big issue. That can increase your grocery bill by a lot.
You are the reason why pennies should be gone.