What happens to all our $0.01...??? and Coinstar
#1
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Joined: Jun 2007
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What happens to all our $0.01...??? and Coinstar
OK so everything in the UK is priced at 99p, £1.99, £9.99 etc, etc…but when I buy something for £9.99 I expected to be charged £9.99 and get 1p change. (tight git I am).
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
#2
Re: What happens to all our $0.01...??? and Coinstar
OK so everything in the UK is priced at 99p, £1.99, £9.99 etc, etc…but when I buy something for £9.99 I expected to be charged £9.99 and get 1p change. (tight git I am).
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
maybe Ozzies like their change
#3
Joined: May 2007
Posts: 5,133
Re: What happens to all our $0.01...??? and Coinstar
OK so everything in the UK is priced at 99p, £1.99, £9.99 etc, etc…but when I buy something for £9.99 I expected to be charged £9.99 and get 1p change. (tight git I am).
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
Last year's winner is working in Coles, Woodridge by the way.
#4
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Joined: Dec 2002
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Re: What happens to all our $0.01...??? and Coinstar
I reckon it just about evens out over time, rounding up vs rounding down. One solution is to pay on plastic - I'm told that then they have to charge the actual price, as the only reason for "rounding" is that 1& 2 cent pieces are no longer in use.
#5
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Joined: Jan 2006
Location: Perth, WA
Posts: 1,376
Re: What happens to all our $0.01...??? and Coinstar
OK so everything in the UK is priced at 99p, £1.99, £9.99 etc, etc…but when I buy something for £9.99 I expected to be charged £9.99 and get 1p change. (tight git I am).
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
#6
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Joined: Nov 2007
Location: Brisbane
Posts: 453
Re: What happens to all our $0.01...??? and Coinstar
I can understand in the Supermarkets items being priced 1.97 etc and rounded up or down when the bill is totalled but I dont know why in shops where you buy single items they dont just put on a $10 price tag if they're not gonna give you the 1c change.
#8
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Joined: Jun 2005
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Re: What happens to all our $0.01...??? and Coinstar
Because $9.99 still looks cheaper than $10. It's called Psychological Pricing.
#9
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Re: What happens to all our $0.01...??? and Coinstar
It's worth noting that rounding only occurs with cash transactions and not with electronic transactions.
The government basicaly got rid of the 1c and 2c coins because they were becoming too expensive to produce and provide very little value.
The government basicaly got rid of the 1c and 2c coins because they were becoming too expensive to produce and provide very little value.
#10
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#11
Re: What happens to all our $0.01...??? and Coinstar
it is simple maths - if you buy 5 things for .99cents then you will pay $4.95 so no-one is stealing your cents!! If you buy one thing in a shop, well then .01c isn't much of a penalty for someone serving you for one thing is it?
#13
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Joined: Oct 2007
Location: WA
Posts: 228
Re: What happens to all our $0.01...??? and Coinstar
OK so everything in the UK is priced at 99p, £1.99, £9.99 etc, etc…but when I buy something for £9.99 I expected to be charged £9.99 and get 1p change. (tight git I am).
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
How come shops here can price things at $9.99 then charge me $10 at the till?
Oh and also while I’m on the subject of small change….I think I’ve spotted a great franchise opportunity for somebody….’Coinstar’ machines in supermarkets. Not found one anywhere and I’ve got bags of coins I would happily pay 7% commission on to get it changed simply by pouring it into a machine. Anyone fancy going in to partnership?
Some of the banks have coin counting machines you just pour your money into, it counts it then gives you a receipt you take to the teller and she issues you with notes.
#14
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Posts: 9,316
Re: What happens to all our $0.01...??? and Coinstar
If you were really tight you could pay by EFTPOS when the total rounds up and pay by cash when the total rounds down.
And if you pay cash for petrol you can always get 2c of free petrol (i.e. putting in $20.02 instead of $20). Although you have to be really good with maths if you want to use the 4c off vouchers.
#15
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