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When will the penny be retired?
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<p>[QUOTE="19Lyds, post: 2851959, member: 15929"]IMO, once the "Rounding" begins, folks that have cents they want to use will NOT be able to use them since...........the cash register will come up with the total due.</p><p><br /></p><p>What this means is if the final tally comes out to be $12.33 cents, the register will round up to $12.35 and that's what the customer will have to pay. If not, then the accounting department will have fits because the accounting totals will be 2 cents short. Multiply that by thousands of customers (such as grocery stores and 7/11's) and you've got quite a shortage "<i>from an accounting standpoint</i>".</p><p><br /></p><p>Then again, if the final tally comes out to be $12.32, the register will round down to $12.30 and exactly WHO is going to voluntarily pay more than what they need to?</p><p><br /></p><p>Once the rounding begins, the penny may not be accepted primarily due to accounting situations. However, this is not to say that on rare occasions where the tally comes out to exactly $12.35 that a customer could not pay with a $10, two $1's, a quarter, a nickel and 5 1 cent coins. </p><p><br /></p><p>On the plus side, it's a fairly simply procedure.</p><p>On the negative side.........there are idiots out there that will get violently upset over the loss of 2 cents even though that very same person will not bother to pick up a cent from the sidewalk.</p><p><br /></p><p>Go Figure.........[/QUOTE]</p><p><br /></p>
[QUOTE="19Lyds, post: 2851959, member: 15929"]IMO, once the "Rounding" begins, folks that have cents they want to use will NOT be able to use them since...........the cash register will come up with the total due. What this means is if the final tally comes out to be $12.33 cents, the register will round up to $12.35 and that's what the customer will have to pay. If not, then the accounting department will have fits because the accounting totals will be 2 cents short. Multiply that by thousands of customers (such as grocery stores and 7/11's) and you've got quite a shortage "[I]from an accounting standpoint[/I]". Then again, if the final tally comes out to be $12.32, the register will round down to $12.30 and exactly WHO is going to voluntarily pay more than what they need to? Once the rounding begins, the penny may not be accepted primarily due to accounting situations. However, this is not to say that on rare occasions where the tally comes out to exactly $12.35 that a customer could not pay with a $10, two $1's, a quarter, a nickel and 5 1 cent coins. On the plus side, it's a fairly simply procedure. On the negative side.........there are idiots out there that will get violently upset over the loss of 2 cents even though that very same person will not bother to pick up a cent from the sidewalk. Go Figure.........[/QUOTE]
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