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What happens to all our $0.01...??? and Coinstar

What happens to all our $0.01...??? and Coinstar

Old Jan 3rd 2008, 2:38 am
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Default 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?
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Old Jan 3rd 2008, 2:42 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Red_V_Roger View Post
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?
they round things up or down weird isn't it mind you in Italy they gave us sweets

maybe Ozzies like their change
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Old Jan 3rd 2008, 2:43 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Red_V_Roger View Post
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?
The 'spare' cents are collected Australia-wide by all retailers and used to fund the annual one day 'charm school' course for a solitary lucky checkout jockey.

Last year's winner is working in Coles, Woodridge by the way.
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Old Jan 3rd 2008, 2:48 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Vim Fuego View Post
The 'spare' cents are collected Australia-wide by all retailers and used to fund the annual one day 'charm school' course for a solitary lucky checkout jockey.

Last year's winner is working in Coles, Woodridge by the way.
PMSL!!!


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.
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Old Jan 3rd 2008, 2:48 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Red_V_Roger View Post
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?
There is a way to beat a coinstar machine...
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Old Jan 3rd 2008, 2:49 am
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Default 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.
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Old Jan 3rd 2008, 2:59 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by hoofie2002 View Post
There is a way to beat a coinstar machine...
Yeah - but first you need to FIND a Coinstar to beat...are there any in Oz..?
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Old Jan 3rd 2008, 3:29 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Eastend Girl View Post
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.
Because $9.99 still looks cheaper than $10. It's called Psychological Pricing.
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Old Jan 3rd 2008, 3:39 am
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Default 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.
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Old Jan 3rd 2008, 3:47 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by MartinLuther View Post

The government basicaly got rid of the 1c and 2c coins because they were becoming too expensive to produce and provide very little value.

Except if we can find a Coinstar to cash 'em in at..!
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Old Jan 3rd 2008, 4:00 am
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Default 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?
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Old Jan 3rd 2008, 4:19 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Red_V_Roger View Post
Except if we can find a Coinstar to cash 'em in at..!
Allegedly you can change them at a bank as they are still legal tender.
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Old Jan 3rd 2008, 4:20 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Red_V_Roger View Post
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?

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.
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Old Jan 3rd 2008, 4:25 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by Teabag View Post
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?
Even better buy 3 and you get a 2c discount.

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.
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Old Jan 3rd 2008, 4:35 am
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Default Re: What happens to all our $0.01...??? and Coinstar

Originally Posted by smee View Post
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.

OOOHHH - Where...?
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