Save your pennies

[eveled]

So . . . will OTC prices still be posted including right down to cents and the "rounding" take place at checkout? Will cash registers be reprogrammed to perform this calculation?

If rounding occurs both "up" and "down" what would the statistics be on whether we win or lose at checkout over time?

Or will the cent-cancelling gummint just pass a law that things cannot be priced requiring individual cents, with nickels being the lowest denomination required/used?

And how will sales tax be calculated? Same "rounding " procedure . . . or always "up"?

I believe it would be the same way your total at the pump is calculated. The per gallon price is posted to the tenth of a cent. Your total is rounded to the nearest whole cent. The most you can lose on the total sales price is .5 of a penny.

I have a friend who is convinced we lose a penny per gallon. He is also very much against getting rid of the penny. Because we will lose 10 cents on every item. We won't. The most you can lose is 5 cents on the total.

Infact you could do the math ahead of time and make sure your total ends in 4 cents or less and you would gain every transaction.

Much like my friend who peels the paper skin off of his onions at the supermarket because he pays by the pound. It isn't worth the effort.

 

[codebreaker]

They won't round at all unless it is a CASH TRANSACTION.
Unless it is a CASH TRANSACTION, they won't round at all.

 

[xitnet]

The most equitable way to solve the rounding process would be if the transaction ended in .01 or .02, it would round down. If the transaction ended in .03 or .04, it would round up.

 

[MaxMan]

I think the cost vs value was the big point. It's been talked about for years. Wife and I were watching Max headroom last night, the police were arresting "blanks" people that were not plugging into the central computer system. The government said they could not be watched or monitored and there for must be taken out of society. Somewhat prophetic I thought.

 

[jav]

I usually roll up the pennies and turn them in I think I will not be turning them in and just keep them for now