Smart people stop using cent coins

From: me

The latter is exactly what is done in Finland and is now discussed in the
Netherlands. No idea where this interpretation of "rounding up" comes from
....

Re-read the news article. It's being proposed that all merchants round up,
*not* to 'the nearest' nickel.

8-/


Coin Saver

No. I re read the article (for the third time).

The people who want to cause panic are trying to make it sound like everything will be
rounded up. The sane people are pointing out that an equal amount of transactions will be
rounded up as down.

http://www.expatica.com/index.asp?pa...&item_id=35383

--
""Remove "zorch" from address (2 places) to reply.


"Coin Saver" wrote in message
...
From: me

The latter is exactly what is done in Finland and is now discussed in the
Netherlands. No idea where this interpretation of "rounding up" comes from
...

Re-read the news article. It's being proposed that all merchants round up,
*not* to 'the nearest' nickel.

8-/


Coin Saver

Oh! really! As a test, I visited my local Rite Aid to see what their prices
are. Almost every price ended in a 9 with few exceptions. Of course, if
there wasn't a cent coin, all these prices would be rounded up. In fact, in
most stores, you rarely see prices like $2.26 or $2.27. But you often see
prices like $2.28 or $2.29.

Even the article you cite said there was an 0.4% increase in prices just
from going to the Euro.

I know you'll get more rounding up than down. There is very little
incentive for a merchant to round down.




"Fred Shecter" wrote in message
...
No. I re read the article (for the third time).

The people who want to cause panic are trying to make it sound like
everything will be
rounded up. The sane people are pointing out that an equal amount of
transactions will be
rounded up as down.

http://www.expatica.com/index.asp?pa...&item_id=35383

--
""Remove "zorch" from address (2 places) to reply.


"Coin Saver" wrote in message
...
From: me

The latter is exactly what is done in Finland and is now discussed in
the
Netherlands. No idea where this interpretation of "rounding up" comes
from
...

Re-read the news article. It's being proposed that all merchants round
up,
*not* to 'the nearest' nickel.

8-/


Coin Saver

"Dr. Richard L. Hall" wrote:

Oh! really! As a test, I visited my local Rite Aid to see what their prices
are. Almost every price ended in a 9 with few exceptions. Of course, if
there wasn't a cent coin, all these prices would be rounded up.

You are correct if that item was the only item purchased and was not taxable.

I know you'll get more rounding up than down. There is very little
incentive for a merchant to round down.

Oh really, how do you "know" this?

Here in the US the "incentive" is contained in the proposed legislation. The
merchants would be required to both round up and down.



++++++++++
Phil DeMayo - always here for my fellow Stooge
When bidding online always sit on your helmet
Just say NO to counterfeits

"Phil DeMayo" wrote in message
...
"Dr. Richard L. Hall" wrote:

Oh! really! As a test, I visited my local Rite Aid to see what their
prices
are. Almost every price ended in a 9 with few exceptions. Of course, if
there wasn't a cent coin, all these prices would be rounded up.

You are correct if that item was the only item purchased and was not
taxable.

I know you'll get more rounding up than down. There is very little
incentive for a merchant to round down.

Oh really, how do you "know" this?

Here in the US the "incentive" is contained in the proposed legislation.
The
merchants would be required to both round up and down.



++++++++++
Phil DeMayo - always here for my fellow Stooge
When bidding online always sit on your helmet
Just say NO to counterfeits

"Phil DeMayo" wrote in message
...
"Dr. Richard L. Hall" wrote:

Oh! really! As a test, I visited my local Rite Aid to see what their
prices
are. Almost every price ended in a 9 with few exceptions. Of course, if
there wasn't a cent coin, all these prices would be rounded up.

You are correct if that item was the only item purchased and was not
taxable.

More stupid arguments. You don't really believe that if the cent is
eliminated that a merchant is going to leave his prices at say $.99. He's
going to round it up to a dollar. Pay 4 1/2 % sales tax on two items as we
do here in northern Virginia, that makes it $2.09. Round it to $2.10. So
you've paid an extra 1 1/2%.


I know you'll get more rounding up than down. There is very little
incentive for a merchant to round down.

Oh really, how do you "know" this?

Here in the US the "incentive" is contained in the proposed legislation.
The
merchants would be required to both round up and down.

"Almost every price ended in a 9 with few exceptions." Now which part of
this didn't you understand? Almost every price will be rounded up. If you
don't have any prices at $0.96 or $0.97, you don't have to round them down.
You're only talking about the final tax. I'm talking about the items
themselves.

I was in a local restaurant. All prices ended in $ x.x9. For kicks, I
stopped in the local McDonalds. All prices ended in $.x9. Now the local
supermarket was somewhat different since some things are purchased by the
pound so you could get some prices at .x6 or .x7 when you don't get a full
pound and other things are 2 for or 3 for. But that's about the only place
where you're going to find rounding down. And a significant number of
prices also ended in $.x9. To be sure, some ended in $.x0 or $.x5. But I
didn't see any that ended in $.x6 or $.x2 that would cause rounding down.
Of course, you also have the costs incurred by the merchant in changing all
the prices to reflect that he is no longer using the unit. Do you really
think the merchant is going to swallow that cost? More likely, he would pass
that off to the customer. I think you're dreaming if you think any savings
is going to accrue to the customer.

Dr. Richard L. Hall wrote:
"Phil DeMayo" wrote in message
...

"Dr. Richard L. Hall" wrote:


Oh! really! As a test, I visited my local Rite Aid to see what their

prices

are. Almost every price ended in a 9 with few exceptions. Of course, if
there wasn't a cent coin, all these prices would be rounded up.

You are correct if that item was the only item purchased and was not

taxable.

More stupid arguments. You don't really believe that if the cent is
eliminated that a merchant is going to leave his prices at say $.99. He's
going to round it up to a dollar. Pay 4 1/2 % sales tax on two items as we
do here in northern Virginia, that makes it $2.09. Round it to $2.10. So
you've paid an extra 1 1/2%.


I know you'll get more rounding up than down. There is very little
incentive for a merchant to round down.

Oh really, how do you "know" this?

Here in the US the "incentive" is contained in the proposed legislation.

The

merchants would be required to both round up and down.


"Almost every price ended in a 9 with few exceptions." Now which part of
this didn't you understand? Almost every price will be rounded up. If you
don't have any prices at $0.96 or $0.97, you don't have to round them down.
You're only talking about the final tax. I'm talking about the items
themselves.

I was in a local restaurant. All prices ended in $ x.x9. For kicks, I
stopped in the local McDonalds. All prices ended in $.x9. Now the local
supermarket was somewhat different since some things are purchased by the
pound so you could get some prices at .x6 or .x7 when you don't get a full
pound and other things are 2 for or 3 for. But that's about the only place
where you're going to find rounding down. And a significant number of
prices also ended in $.x9. To be sure, some ended in $.x0 or $.x5. But I
didn't see any that ended in $.x6 or $.x2 that would cause rounding down.
Of course, you also have the costs incurred by the merchant in changing all
the prices to reflect that he is no longer using the unit. Do you really
think the merchant is going to swallow that cost? More likely, he would pass
that off to the customer. I think you're dreaming if you think any savings
is going to accrue to the customer.



The .x9 has nothing with cost or sales price it has to do with marketing. Even on a major
purchase like a car $26,799 sounds and looks like substantially less money than $26,800 on
small purchases $.99 sounds like less than $1.00. That will not change EVER.

It is accumulation of items and the added tax that will determine the final rounding. If
you buy 3 items ending in .x9 you have a price ending with a .x7 that would end up
rounding down.



--
George D
Phoenix, AZ
AAA, AARP, ANA, NRA, RCC ?+1, PIA, PIAAZ, GATF 85006-3032-18-4

"A Native American grandfather was talking to his grandson about how he
felt. He said, I feel as if I have two wolves fighting in my heart. One
wolf is the vengeful, angry, violent one. The other wolf is the loving,
compassionate one. The grandson asked him, Which wolf will win the
fight in your heart? The grandfather answered, The one I feed."


Please use this address to mail me. Or remove the arizona in the link.
Remember there is no Arizona.


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George D errs with....

If you buy 3 items ending in .x9 you have a price ending with a .x7 that would
end up
rounding down.

Unless I missed 'more' modern math, that should be rounding UP, no?

Always here for my fellow syngraphist or oenophile.
--=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=--

Jim wrote:

George D errs with....

If you buy 3 items ending in .x9 you have a price ending with a .x7 that would
end up
rounding down.

Unless I missed 'more' modern math, that should be rounding UP, no?

Always here for my fellow syngraphist or oenophile.
--=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=--

Unless I am reading this wrong. What he is saying is at a price of
$0.09 you will be rounding UP to the dime, 0.10 and at 0.07 you
will be rounding DOWN to the nickel. IE: 0.05 Well he did say, .x9
(with X=0) x 3 items will be .17 so you round down to 0.15
But I might be wrong, sure wont be the first time and will not be
the last.

=================================================
Roscoe Ebay- 1Wheeler,
ICQ- 876749, Yahoo Messenger- Wheeler72512

"We don't like their sound, and guitar music is on the way out."
Decca Recording Co. rejecting the Beatles, 1962.

Jim wrote:

George D errs with....

If you buy 3 items ending in .x9 you have a price ending with a .x7 that would
end up
rounding down.

Unless I missed 'more' modern math, that should be rounding UP, no?


I am counting every post that explains or argues the principle of
rounding and/or the correct rounding in a specific situation as an
example of why the American Public will never accept this proposal. ;-)

Alan
'but if it costs (x) do I pay (x) + or - 2¢?'