Featured Opinion/Editorial - United States Coinage Needs Overhaul Now!!!

If you sell one item only and you rounding down and it was a loss you have a loser that why rounding up is were it will be
if a customer loses a few cents on one transaction, they may very well make a few extra cents on the next one but this is not for sure

 

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You learned it as a Analysis

 

Actually it is for sure, and becomes more probable with increased transactions for the customer...also, see how insurance companies work.

 

Show me a store that sells only one item, and then stops selling. You're being either obstinate or nonsensical.

Actually, it IS for sure that over time and many transactions, the gains and losses will even out.

 

I have a part interest in a trucking company we do only one thing move goods from point A-B
This is just one business that I have and a few sell one item or service

 

Not all and people cant hope this way is for sure

 

But do you perform that service only one time? Obviously not, or you'd be out of business.

You perform that one service over and over and over again.

The same way a supermarket sells groceries to customers over and over and over again.

And over those many multiple transactions, the round-ups and the round-downs even out.

Does the term "averaging" have any meaning for you?

It's a rhetorical question, because I already know what your answer is going to be.

So, once again...

 

Moen and Mikenoodle both make interesting cases to support their opinions. As for a cash less society, how will it work for person to person transactions where cash is the only acceptable option? You know, Craigslist, forums, etc.

 

At a fixed price and any change can only go up not down, A friend has a few Supermarket work on a 15% and any change in price only up not down
"averaging" Don't work for every one

 

Well, just melt those instead of storage. Let the value of the survivors fall where it will.

 

Not for sure.Probable is just that likely to happen or to be true but not certain

 

Folks, this thread is on my top five list as the most interesting ..OK,
it is the most interesting thread I have ever read...Thank you so much to everyone who contributed their thoughts and opinions. Truly invaluable information and I hope you view it as something that benefits us all. Really people, everyone has a valid opinion. Thank you so much for your thoughts, without which progress is stymied. Bless all of you.

 

I have no clue what either of these statements mean.

I'm outta here. Mark Twain was right.

 

I know it went over your head that why i will not argue with you Mark Twain was right

 

John is right in one case. All your prices end in round-up digits and you limit each transaction to a single item. Then yes, John's non-evening out theory is true.

 

Paypal.

And they have to be prices that always end in a round up figure after sales tax is applied.

 

If I am selling an item with a value of $1.01 to $1.09 without the one and five cent coins, it would be rounded up to a $1.10 Than you would have to add sales tax. That would be rounded to the nearest cent upward. So it would have the same scenario. Everything from 1-9 will go to 10.

If you feel that you want to pay more for an item then the elimination of the 1 and 5 cent will be great for you. My personal belief is that it will hurt the consumer. Now you're buying the same items at a higher cost.

As for the sales tax certain states and municipalities charge differently. The ones that I deal with, do it upward.

 

Absolutely WRONG, John. $1.01 through $1.05 become $1.00. Period. No option. $1.06 through $1.09 become $1.10. Period. No option. But even so, NOTHING other than the final total gets rounded. There is no rounding for each item. And the rounding does NOT HAPPEN before the tax is calculated.

Where did I get this idea? Switzerland, John. You had to have heard of it. It was in all the newspapers. They have been using this rounding scheme for more than 45 years. Nobody has suffered.

 

You're absolutely wrong. Where did you get that one from? If I am selling an item for $1.01 and my cost is $1.00 how can I round it down? It's the same with all of these numbers. The selling price and the cost is completely different. If there's no 1 or 5 cent I would have to round it up before I put my product to be sold. Then after the product is sold, sales tax is added. Not before. Do you even check your receipts when you buy stuff? If you look at your receipt it clearly says subtotal and then total. And some of them say state/municipal tax.