Date: 2025-11-14 12:46 pm (UTC)
simont: A picture of me in 2016 (Default)
From: [personal profile] simont
#4: it sounds from that article (and I feel as if I probably 'ought' to have known already) that the US doesn't have a 2¢ coin, so the (eventual) effect of phasing out 1¢ will be that everything you can do with cash is a multiple of 5¢?

That's less weird than it would be if the UK phased out the penny. At least in the future US there will still be a coin with value equal to the highest common factor of all coins. If you had to prat about exchanging 5ps and 2ps to settle a 1p or 3p imbalance like one of those water-jug puzzles, it would be much sillier!

Date: 2025-11-14 02:39 pm (UTC)
armiphlage: Ukraine (Default)
From: [personal profile] armiphlage
That's what Canada has right now - the rounding rules are codified, all cash payments have to be multiples of 5 cents. Electronic transactions can still use cents.

Well!

Date: 2025-11-14 02:35 pm (UTC)
lsanderson: (Default)
From: [personal profile] lsanderson
There goes our favorite sale price, $5.99! $5.95 just ain't got no pizzazz.

Re: Well!

Date: 2025-11-15 09:04 am (UTC)
darkoshi: (Default)
From: [personal profile] darkoshi
That was one of my first thoughts. But since varying sales taxes get applied in various locales, the initial prices of things don't determine whether the total will be a multiple of 5 cents or not. So there's no real reason to change the prices to be multiples of 5 cents, except perhaps in places without sales tax.

It could provide impetus to change how sales tax is handled - if businesses were to switch to including the tax in the displayed prices, as part of that they could adjust the total item price to be a multiple of 5 cents.

In the end I think consumers will end up paying the price (pun intended), with higher prices.

Date: 2025-11-14 02:40 pm (UTC)
armiphlage: Ukraine (Default)
From: [personal profile] armiphlage
#5: What goes on in my factory is from 8:07 onwards, but with more fixtures and robots.

Date: 2025-11-14 03:50 pm (UTC)
bens_dad: (Default)
From: [personal profile] bens_dad
4. Simpler than the last time the UK removed the lowest value coin.

When we removed the halfpenny from circulation (in 1984 ?) the sixpence continued to be legal tender. We had a coin which was not a multiple of the smallest legal quantity of money; so sixpences could still be used in pairs.

Wikipedia says that 6p (not 6d) coins have been minted since 2016. These are silver and legal tender, but are not put into circulation !

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