Dropping the penny...
Dec 15th 2010, 2:35 am
#1
Thread Starter
Joined: Aug 2005
Posts: 14,227
Dropping the penny...
...is being considered apparently.
http://www.vancouversun.com/business...941/story.html
Polls suggest that most people think it's a good idea. It is if you are a retailer and you get to add the few cents per transaction onto your bottom line. Cheeky gits.
http://www.vancouversun.com/business...941/story.html
Polls suggest that most people think it's a good idea. It is if you are a retailer and you get to add the few cents per transaction onto your bottom line. Cheeky gits.
Dec 15th 2010, 4:41 am
#2
BE Enthusiast
Joined: Nov 2007
Location: Kamloops
Posts: 365
Re: Dropping the penny...
its not good for retailers as they will have to advertise stuff at 19.95 instead of 19.99 etc..
as they know $19.99 is more likely to sell than the same item listed as $20.00. Our poor little brains only really pick up on the 19, so we often convince ourselves its a dollar cheaper than it is.
as they know $19.99 is more likely to sell than the same item listed as $20.00. Our poor little brains only really pick up on the 19, so we often convince ourselves its a dollar cheaper than it is.
Dec 15th 2010, 5:04 am
#3
Thread Starter
Joined: Aug 2005
Posts: 14,227
Re: Dropping the penny...
its not good for retailers as they will have to advertise stuff at 19.95 instead of 19.99 etc..
as they know $19.99 is more likely to sell than the same item listed as $20.00. Our poor little brains only really pick up on the 19, so we often convince ourselves its a dollar cheaper than it is.
as they know $19.99 is more likely to sell than the same item listed as $20.00. Our poor little brains only really pick up on the 19, so we often convince ourselves its a dollar cheaper than it is.
Dec 15th 2010, 11:21 am
#4
Forum Regular
Joined: Aug 2010
Posts: 114
Re: Dropping the penny...
great idea. the CAD penney is practically worthless anyway. many of the euro countries didnt mint a 1 cent piece , its not needed anymore.
Dec 15th 2010, 12:05 pm
#5
.
Joined: Sep 2008
Posts: 20,185
Re: Dropping the penny...
...is being considered apparently.
http://www.vancouversun.com/business...941/story.html
Polls suggest that most people think it's a good idea. It is if you are a retailer and you get to add the few cents per transaction onto your bottom line. Cheeky gits.
http://www.vancouversun.com/business...941/story.html
Polls suggest that most people think it's a good idea. It is if you are a retailer and you get to add the few cents per transaction onto your bottom line. Cheeky gits.
Dec 15th 2010, 12:36 pm
#6
Scottish Canuck
Joined: Aug 2006
Location: Auld Scotia > Nova Scotia > Calgary
Posts: 3,703
Re: Dropping the penny...
How am I supposed to play Rummoli with no pennies 
Dec 15th 2010, 1:26 pm
#7
BE Forum Addict
Joined: May 2006
Location: GTeh?
Posts: 1,379
Re: Dropping the penny...
I hope I'm safe 
Dec 15th 2010, 3:26 pm
#8
Thread Starter
Joined: Aug 2005
Posts: 14,227
Re: Dropping the penny...
There was a report that said it's lost 95% of it's value since it was first minted. By that logic, the 5c and 10c coins should be gone too.
Dec 15th 2010, 5:04 pm
#9
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: Dropping the penny...
Apparently the penny costs 1.6 cents to make. Something seems fundamentally wrong there.
Dec 15th 2010, 5:06 pm
#10
Thread Starter
Joined: Aug 2005
Posts: 14,227
Re: Dropping the penny...
Well, they should have thought of that before allowing inflation to destroy the value of the currency. Idiots, deliberately devalue over time and then act all surprised when the metal costs more than face value to make.
Dec 15th 2010, 5:16 pm
#11
BE Forum Addict
Joined: Apr 2008
Location: Calgary
Posts: 3,340
Re: Dropping the penny...
On the news last night they said the average canadian household has $6 in pennies lying around the house. I find that difficult to believe - 600 coins down the back of the sofa etc.
On the subject of pointless currency why has the use of the dollar coin never taken off in the US. I've never seen one and apparently they are made but people won't used them and prefer the dollar notes.
On the subject of pointless currency why has the use of the dollar coin never taken off in the US. I've never seen one and apparently they are made but people won't used them and prefer the dollar notes.
Dec 15th 2010, 5:23 pm
#12
GO FLAMES GO!!!!
Joined: Feb 2005
Location: Calgary eh?!
Posts: 571
Re: Dropping the penny...
On the news last night they said the average canadian household has $6 in pennies lying around the house. I find that difficult to believe - 600 coins down the back of the sofa etc.
On the subject of pointless currency why has the use of the dollar coin never taken off in the US. I've never seen one and apparently they are made but people won't used them and prefer the dollar notes.
On the subject of pointless currency why has the use of the dollar coin never taken off in the US. I've never seen one and apparently they are made but people won't used them and prefer the dollar notes.
