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U.S. Mint PSA Urges Coin Redemptions
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<p>[QUOTE="-jeffB, post: 4714189, member: 27832"]<b>They do it today</b>. Sales taxes in my locale are 7.5%. A 99-cent purchase produces a total of $1.06425. It rings up at $1.06, and the merchant eats that $0.00425. They could <i>choose</i> to price the item at a dollar, and then they could round the $1.075 total <i>up</i> to $1.08 -- but they don't, because the psychological edge from the 99-cent price point makes more of a difference to their bottom line than the rounding.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 4714189, member: 27832"][B]They do it today[/B]. Sales taxes in my locale are 7.5%. A 99-cent purchase produces a total of $1.06425. It rings up at $1.06, and the merchant eats that $0.00425. They could [I]choose[/I] to price the item at a dollar, and then they could round the $1.075 total [I]up[/I] to $1.08 -- but they don't, because the psychological edge from the 99-cent price point makes more of a difference to their bottom line than the rounding.[/QUOTE]
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