Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
When will the penny be retired?
>
Reply to Thread
Message:
<p>[QUOTE="Conder101, post: 2852396, member: 66"]They can still use then but they will still have to pay what the cash register says. If it says $12.35 they can pay with 35 one cent pieces if the want to. The cashier may give them dirty looks but they can do it. But since they cashier will never have to pay OUT one cent pieces (due to the rounding), any that do come in will be sent back to the bank and eventually the Fed</p><p><br /></p><p><br /></p><p>Since the registers are already programmed to round to the NEAREST 5 cents, the only way the merchant is going to be able to always round up is to either forgo the use of a cash register, or not turn on the rounding program and then look the customer right in the eye and ask for more money than the cash register says they owe. I don't think either of those is a viable option.</p><p><br /></p><p><br /></p><p>But once the cent is discontinued and out of circulation there is no reason to keep the law forbidding its melting. (Once silver coins were out of circulation the laws against melting them down were repealed) The only reason those laws are in place now is because if people began melting down the cents and five cents there would be a shortage that the government would have to scramble to replace at a loss for every coin made. Once they are already out of circulation melting them down doesn't cause a shortage.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 2852396, member: 66"]They can still use then but they will still have to pay what the cash register says. If it says $12.35 they can pay with 35 one cent pieces if the want to. The cashier may give them dirty looks but they can do it. But since they cashier will never have to pay OUT one cent pieces (due to the rounding), any that do come in will be sent back to the bank and eventually the Fed Since the registers are already programmed to round to the NEAREST 5 cents, the only way the merchant is going to be able to always round up is to either forgo the use of a cash register, or not turn on the rounding program and then look the customer right in the eye and ask for more money than the cash register says they owe. I don't think either of those is a viable option. But once the cent is discontinued and out of circulation there is no reason to keep the law forbidding its melting. (Once silver coins were out of circulation the laws against melting them down were repealed) The only reason those laws are in place now is because if people began melting down the cents and five cents there would be a shortage that the government would have to scramble to replace at a loss for every coin made. Once they are already out of circulation melting them down doesn't cause a shortage.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
When will the penny be retired?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...