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Old December 29 2013, 11:03 AM   #46
MacLeod
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Location: Great Britain
Re: RIP the Canadian penny

RoJoHen wrote: View Post
MacLeod wrote: View Post
You do know you can buy machines that count coins. And I work in industry that deals with moneym and how is counting hundreds of coins any different to counting hundreds of notes?
Well, because currently I do it by hand. We don't have a machine for counting money.

I'm picturing the number of $1 bills that I count on a regular basis as a pile of coins, and suddenly I feel like I'm buried in a mountain of silver.

How many dollar coins can you even fit in a standard cash register? There are times when I have $200-300 in singles in my drawer. I feel like my drawer would overflow.
Well it depends on the size of the compartment(s). Yet retailers manage in countries where the 1.00 coin has replaced the 1.00 note.

Someone earlier mentioned mens wallets not being designed for coins, so what you could find happening. Instead of saying getone 5.00 and three 3.00 notes, you get one 10.00 note. Which means you give out two 2.00 coins.
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Old December 29 2013, 11:24 AM   #47
RoJoHen
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Re: RIP the Canadian penny

Timewalker wrote: View Post
Good grief, it's not like it's a mountain of them!
It is. It is absolutely a mountain. It's like the dwarf kingdom from the Hobbit. I don't want to have to fight off a dragon every time I cash out my drawer.

Keep in mind, I am opposed to all coins. They end up in jars around my house or on the floor of my car. I don't actually use them for anything, and more than anything they just make a mess.
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Old December 29 2013, 11:53 AM   #48
Timewalker
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Re: RIP the Canadian penny

I'll admit that I don't use my nickels or dimes much. A dime makes a handy emergency screwdriver, though, which is why I make sure to always have one around.

Loonies and toonies end up getting used in vending machines and parking meters. They often get tossed in charity cans, and they're crucial for apartment washing machines that don't work on tokens or electronic cards.
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Old December 29 2013, 05:37 PM   #49
Marc
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Re: RIP the Canadian penny

RobertVA wrote: View Post

Sales tax tables, even in electronic form, would probably be adjusted by the aplicable level of government to make the register total after taxes an even multiple of $0.05

I suspect many retailers will experience some reluctance to pricing merchandise at even multiples of a dollar. They are too fond of their illusion that customers think $9.99 is significantly cheaper than $10.00. Many of those $x.99 prices will drop to $x.95 until the retailers find it necessary to raise them another $0.50 or even $1.00.

Not really.

The rounding rules are generall well defined. A price of $x.99 would round up to the nearest whole dollar, x3 would round upto x5, x2 would round down to x0.

Timewalker wrote: View Post

Loonies and toonies end up getting used in vending machines and parking meters. They often get tossed in charity cans, and they're crucial for apartment washing machines that don't work on tokens or electronic cards.
don't drive or use vending machines that much but for me washing machines and bus fares are the big coin uses.

Laundry I need loonies and quarters for, bus fare takes any but it's damn tedious and slows things down if you have to drop 25 dimes in the machine (plus you're required to have exact fare)
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Old December 29 2013, 09:37 PM   #50
Davros
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Re: RIP the Canadian penny

RoJoHen wrote: View Post
Timewalker wrote: View Post
Good grief, it's not like it's a mountain of them!
It is. It is absolutely a mountain. It's like the dwarf kingdom from the Hobbit. I don't want to have to fight off a dragon every time I cash out my drawer.

Keep in mind, I am opposed to all coins. They end up in jars around my house or on the floor of my car. I don't actually use them for anything, and more than anything they just make a mess.
You can mail them to me. I don't mind.
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Old December 29 2013, 10:01 PM   #51
The Dominion
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Location: Gamma Quadrant
Re: RIP the Canadian penny

Well, I for one think this is a centsless change.
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Old December 30 2013, 06:57 AM   #52
RobertVA
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Location: Virginia USA
Re: RIP the Canadian penny

Marc wrote: View Post
RobertVA wrote: View Post

Sales tax tables, even in electronic form, would probably be adjusted by the aplicable level of government to make the register total after taxes an even multiple of $0.05

I suspect many retailers will experience some reluctance to pricing merchandise at even multiples of a dollar. They are too fond of their illusion that customers think $9.99 is significantly cheaper than $10.00. Many of those $x.99 prices will drop to $x.95 until the retailers find it necessary to raise them another $0.50 or even $1.00.

Not really.

The rounding rules are generall well defined. A price of $x.99 would round up to the nearest whole dollar, x3 would round upto x5, x2 would round down to x0.

Timewalker wrote: View Post

Loonies and toonies end up getting used in vending machines and parking meters. They often get tossed in charity cans, and they're crucial for apartment washing machines that don't work on tokens or electronic cards.
don't drive or use vending machines that much but for me washing machines and bus fares are the big coin uses.

Laundry I need loonies and quarters for, bus fare takes any but it's damn tedious and slows things down if you have to drop 25 dimes in the machine (plus you're required to have exact fare)
But there isn't any regulation on what retail prices are set at. Retailers can set them at any value they please. If the government makes progress taking pennies out of circulation retailers will simply set prices at even multiples of $0.05, which, before the addition of sales taxes, will always add up to a multiple of $0.05. They've got this theory that a significant percentage of consumers perceive that last penny or nickel, makes a significant difference because it makes the dollar column bigger.

Prices at $x.95 aren't that unusual anyway. Certainly more ordinary than even dollar prices (except a places like Dollar Tree where the only things that aren't $1.00 are two or three for $1.00)

As I indicated above, any rounding will only be necessary on the sales taxes (5% tax would change a full $0.05 when the sub-total reaches $x.50).
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Old December 30 2013, 07:10 AM   #53
Timewalker
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Re: RIP the Canadian penny

Thing is, though, sales taxes are different from province to province. Some have the harmonized tax (provincial + GST), and others don't. My own province of Alberta doesn't have a provincial tax, so all we need to calculate is the 5% GST.

If you pay by debit or credit card, the cent-amount is exact - no rounding (since no physical pennies are involved). Only if you use cash, do you need to fret about rounding up or down.
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