Death to the Penny? - Page 2

AlphaFrog · #16 07-19-2006, 11:05 AM

Quote:

Originally Posted by KLPDaisy

Is there a Commerce Bank near you? I think they do it for free.

Nope. Wachovia, SunTrust, BofA, First Trust, Citizens, BB&T (or as we call it, Billy Bob Bank & Trust), and a bunch of small locals.

Tom Earp · #17 07-19-2006, 04:25 PM

The Penny, The Cent, wow, the mint produces these things in K-Zillions.

It is not the cost, it is the Morons who throw them in Big damn Jars and a save them for What? Cause they are Morons!

From a Marketing technique, having a price of a say $3.99 looks better than $4.00. Why? People are stupid and look at the first number, not the total.

$3.99 is a lot less than $4.00!

Example. An Item is $3.69, depending on the tax base, the total comes in at $3.99, not $4.00. Ergo, it is cheaper than $4.00! People are happy!

It is called a mind set!

Drolefille · #18 07-19-2006, 04:29 PM

I've heard the penny debate a lot over the past 10 or so years. I'd be for dropping it just like they have in England and such (or am I thinking Europe?)

What about changing from bills to coins for small denominations such as 1 and 2 dollars?

SydneyK · #19 07-19-2006, 05:16 PM

Quote:

Originally Posted by Drolefille

What about changing from bills to coins for small denominations such as 1 and 2 dollars?

I can see the point behind exchanging small bills for coins - they last longer. Lots of other countries do this. But, given the attitude Americans seem to have adopted regarding coins, I doubt it would fly. I'm all for it though.. I throw all my change in jars (yes, I have one for each coin, I'm an organizational freak) everyday. In December, I roll all the coins (I'm too cheap for CoinStar, and none of the banks here will do it free of charge) and use the money for Christmas gifts. It's amazing how much you can save over the year by doing this.

tunatartare · #20 07-19-2006, 05:20 PM

Personally I hate the dollar coins. Metrocard vending machines always give them back in change and they just annoy me cuz they take up too much space in my wallet. If I'm going to go buy something that costs $20, I really don't want to have to pay for it with 20 coins.

Tom Earp · #21 07-19-2006, 05:40 PM

Fantastic, We got from The Penny to the Dollar Coins!

Makes a lot of Cents?

Okay, they suck, so get over it! $1.00 coins, carry about $10.00 int YOur pocket!

Have a semestress!

Drolefille · #22 07-19-2006, 05:44 PM

See I LOVE them. When I travel I can't get enough. The downside is the way they're used in the US, you either get them back from machines, like KLPDaisy, in LARGE amounts, or you have to beg for them at the bank.

Ideally you're never carrying more than a few of the dollar or 2 dollar coins at once.

AGDee · #23 07-20-2006, 10:02 AM

Who gets the extra money when something comes to $10.36? round up? Round down? What about sales tax? How do you fill your tank with gas without pennies? I'm just not seeing how it would be feasible.

SydneyK · #24 07-20-2006, 10:27 AM

Quote:

Originally Posted by AGDee

Who gets the extra money when something comes to $10.36? round up? Round down?

The way I understand it is that everything would be rounded to the nearest nickel. So, $10.36 would be rounded down to $10.35. On the other hand, $10.38 would be rounded up to $10.40. The real problem lies in things that cost $x.x7. What to do?!?!? Chaos will ensue!!

SOPi_Jawbreaker · #25 07-20-2006, 10:47 AM

Quote:

Originally Posted by SydneyK

The way I understand it is that everything would be rounded to the nearest nickel. So, $10.36 would be rounded down to $10.35. On the other hand, $10.38 would be rounded up to $10.40. The real problem lies in things that cost $x.x7. What to do?!?!? Chaos will ensue!!

I am Professor Chaos! Bringer of destruction and maker of doom! Those who do not know me yet shall know me very soon, for the hour of Chaos ih-is at hand!

tunatartare · #26 07-20-2006, 10:51 AM

Did anyone do Common Cents in elementary school? My school did it as a charity project for my grade when we were in 5th grade. We collected pennies (people could give us other money too, but the reason that we did pennies is because most people don't care about getting rid of those) frpm people in our buildings then we spent a day sorting them and wrapping them. Our teachers took them to the bank to get cash for them and the money was donated to City Harvest. In the end, we raised several thousand dollars, which is incredible considering that there were only 16 kids in my entire grade.

Drolefille · #27 07-20-2006, 10:59 AM

Quote:

Originally Posted by KLPDaisy

Did anyone do Common Cents in elementary school? My school did it as a charity project for my grade when we were in 5th grade. We collected pennies (people could give us other money too, but the reason that we did pennies is because most people don't care about getting rid of those) frpm people in our buildings then we spent a day sorting them and wrapping them. Our teachers took them to the bank to get cash for them and the money was donated to City Harvest. In the end, we raised several thousand dollars, which is incredible considering that there were only 16 kids in my entire grade.

No but in college we did "Penny Wars" where you tried to get the most pennies in your bucket, but all other change/dollars counted against you... so you put those in the other people's buckets.

Usually a lot of fun, and the money went to charity. (Either a fraternity's philanthropy or another club's project.

kstar · #28 07-20-2006, 04:14 PM

Quote:

Originally Posted by AGDee

Who gets the extra money when something comes to $10.36? round up? Round down? What about sales tax? How do you fill your tank with gas without pennies? I'm just not seeing how it would be feasible.

In Austrailia, it is rounded up, unless you pay with a card, then it is to the exact cent. However, as I already said, they don't seem to allow debit/credit transactions of less than 5 cents.

Drolefille · #29 07-20-2006, 04:16 PM

Quote:

Originally Posted by kstar

In Austrailia, it is rounded up, unless you pay with a card, then it is to the exact cent. However, as I already said, they don't seem to allow debit/credit transactions of less than 5 cents.

Have them put a charge on for 13 cents, then a rebate for 15!

She could ask at least...

honeychile · #30 07-20-2006, 10:38 PM

Has anyone else had to help someone who's blind try to keep their money straight? I can tell the difference between the coins, but the paper money? I've even asked bank tellers, and they're not sure. Help?