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<p>[QUOTE=&quot;rickmp, post: 1411739, member: 28047&quot;]I see no reason to fear the elimination of the one cent coin.</p><p><br /></p><p>People fear that <i>all</i> transactions will be rounded with the elimination of the cent, but rounding would only be necessary in cash transactions. Rounding would not occur with the use of checks or EFT&#039;s. </p><p><br /></p><p>Individual items will not round unless you are only buying one item.</p><p><br /></p><p>All items purchased will be added together and the total amount would then be rounded to the nearest cent.</p><p><br /></p><p>Rounding to the nearest nickel makes some transactions go down as well as up. 6 or 7 cents rounds down to 5cents. 5 cents requires no rounding. 8 or 9 cents rounds up to 10 cents. 10 cents requires no rounding. </p><p><br /></p><p>Over the course of time all necessary rounding would become a wash, thus having no actual effect on the wallet or the overall economy.[/QUOTE]</p><p><br /></p>

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