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<p>[QUOTE="-jeffB, post: 2280685, member: 27832"]Much the same thing that gas stations do now when they want to price gas at $1.999 per gallon.</p><p><br /></p><p>Everyone seems to think that there'll be a great ripoff based on rounding -- that, if you go to the store and buy 100 items priced at 18 cents each, the merchant will round each up to 20 cents, and you'll be charged 20 dollars. That's not going to happen.</p><p><br /></p><p>How many cash transactions does the average person make in a day, anyhow? Even if I go out to lunch <i>and</i> dinner, hit two grocery stores, and fill my gas tank, that's still only five transactions. Even if merchants always round up to the nearest nickel, I'm out a maximum of 20 cents per day. Maybe my affluence is showing, but 20 cents a day <b>is not a big deal</b>. And, in reality, merchants would almost certainly round to the nearest nickel (up or down), which means that on average I'd come out even.</p><p><br /></p><p>Frankly, I think we've reached the point where even dimes aren't worth bothering with. I'd be happy making the quarter the lowest denomination. But it doesn't matter what I think. We'll continue spending more money making and handling small coins than they're worth, until electronic money finishes taking over and the government abandons cash entirely.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 2280685, member: 27832"]Much the same thing that gas stations do now when they want to price gas at $1.999 per gallon. Everyone seems to think that there'll be a great ripoff based on rounding -- that, if you go to the store and buy 100 items priced at 18 cents each, the merchant will round each up to 20 cents, and you'll be charged 20 dollars. That's not going to happen. How many cash transactions does the average person make in a day, anyhow? Even if I go out to lunch [I]and[/I] dinner, hit two grocery stores, and fill my gas tank, that's still only five transactions. Even if merchants always round up to the nearest nickel, I'm out a maximum of 20 cents per day. Maybe my affluence is showing, but 20 cents a day [B]is not a big deal[/B]. And, in reality, merchants would almost certainly round to the nearest nickel (up or down), which means that on average I'd come out even. Frankly, I think we've reached the point where even dimes aren't worth bothering with. I'd be happy making the quarter the lowest denomination. But it doesn't matter what I think. We'll continue spending more money making and handling small coins than they're worth, until electronic money finishes taking over and the government abandons cash entirely.[/QUOTE]
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