This is a non issue tbh. The half penny was worth what a dime is now when it was discontinued. What’s the point of a coin that’s not worth enough to buy literally anything at all? The nickel should probably go too. Even with a “good” level of 2% inflation a year they eventually become pointless.
HLOFRND on
Won’t it be rounded to the nearest .05? Meaning at $10.01 it would round down?
PaleontologistOk1289 on
Just use credit cards. Use your cash to paid it off every month and you get cash back anyways. For some, that can easily be over $1000 in cash back by the end of the year. I don’t use cash ever unless it’s through Zelle or i got loose change on me.
Pimpwerx on
The penny is useless because prices are so high. What can you realistically buy in pennies. As for change, that’s why you go cashless. I was card only stateside, and only have to use cash at 7-Eleven over here in Asia. Otherwise, it’s all scan pay.
As for prices rounding up, that’s just more inflation. But prices have already inflated to the point where the penny has become outmoded. TBH, if pennies were so useful, people wouldn’t toss them en masse into fountains.
For the record, I thought the penny lost its worst like 30 years ago. I started leaving them in tip trays or just chucking them in the trash way back when I was still in college. The nuisance of carrying a jingling tray of coins you will never use wasn’t worth it for me.
Tommy_Wisseau_burner on
Goddamn social media is a mistake. Just use a card or literally every other coin. If you only have a penny on hand you can just wait until you muster up enough pennies. There are still around $65 million pennies lost PER YEAR. That’s more than whatever bullshit reasoning just in 1 year alone. Given they won’t be recirculated you’ll eventually run out of them bitches and her stupid problem is solved
PirateSanta_1 on
Gas is already charged at less than a penny, literally I’ve seen gas stations like 3.99^(9/10) meaning gas is 1/10 a penny away from $4. So this shit has already been happening for a long time its not new.
0xc7fa392d on
She missed that day in grade school where rounding was covered.
dreams_andnightmares on
We have cards for this
zachin2036 on
Also this was in the news back in February…”no one’s” talking about it now because the news cycle already happened, though in the heat of the Christmas season they’ll run some “trying to pay cash? Uh oh spaghetti-o’s” stories.
dosplatos225 on
Look while I don’t necessarily care about the whole penny elimination – there’s a lot to do with inflation and economics around pennies in todays economy – the real issue here is: _economic independence_ and _data privacy_.
If you are using cash, a lot of companies don’t get to vacuum up that _sweet, sweet, yum yum delicious data_ on you._
If you haven’t figured it out by now, we in the US don’t live in a democratic republic anymore. We live in a corporatocracy. Cash transactions hurt corporate interests.
Zenis on
Wait. Isn’t using cards the solution to the problem? No need to round with card
Shaodic on
In the example she gave in the video, she said that $10.01 would be rounded up to $10.05. Based on the signs I’ve seen at stores and even the terminology of “rounding to the nearest nickel”, it means that cent values of 1 and 2 are rounded down to 0, and 3 and 4 are rounded up to 5 (and similarly for 6 and 7 being rounded down to 5 while 8 and 9 are rounded up).
Paying with a card is a lot more common anyways and isn’t subject to rounding. The money these companies “make” rounding up effectively gets canceled out by the rounding down.
Everard5 on
Why are cards scary? I’m more scared about how many Black people are unbanked and still use cash tbh. I’m also not worried about corporations making $40,000 off of 1 million people (it’s really not that crazy), but I am worried that an extra 4 cents can seemingly bring some Black people to financial ruin.
ommi9 on
Nope if it’s$ 5.01 then $5
If it’s$ 11.11 then it’s $11.10 cents.
Formal-Ad3719 on
People have been talking about eliminating pennies for decades. It’s not that serious, inflation makes numbers bigger so eventually the penny is too small to be worth dealing with.
ChaZZZZahC on
Everywhere that tried to do self checkout went right back to cashiers, cause you cant expect people to be the cashier and the customer at the same time without getting a five finger discount.
kittyonkeyboards on
Just because you found out a process exists doesn’t mean it’s problematic.
We should be getting rid the nickel and dime as well. Personally I’d be okay with making the dime worth 25 and quarter 50 cents if that’s an option.
It’d be even easier if we got rid of sales tax (a regressive tax). No rounding. Companies trying to do the 9.99 bs would at least be 9.75, saving consumers money.
Pups_the_Jew on
Is anyone making a secret about wanting to eliminate cash, especially at larger retailers? Handling cash is a big pain in the ass.
1flyj7 on
I work at Walmart. We round your change up to the nearest nickel. Other businesses may do it differently.
Deathchariot on
Cash sucks, it’s inconvenient and it costs the government a whole bunch of money to produce and distribute physical money. Taxpayers are paying for that too, you know.
MrEllis72 on
Most places have said they’d round down to the nickel. Military bases never used pennies when I lived on them and did it this way
NeekTrealington on
Who is paying with cash ??
Office_funny_guy on
We did this in Australia decades ago but we rounded normally. If it came to $40.01 then we rounded down to $40. If it came to $40.03 then it rounds up. If we’re paying by card we pay the exact amount but then get charged a fee for using a card because greed.
Faskwodi on
The New World Order yall see they got the Diabetes monitor in their arm & the C-PAP in their chest.
zooper2312 on
clutches pearls, think of the children /s . got that karen energy
FakeHasselblad on
Making a penny and paying with a CC the exact .01 amount is not the same. You can still pay the exact amount on CC.
27 Comments
Debit card?
This is a non issue tbh. The half penny was worth what a dime is now when it was discontinued. What’s the point of a coin that’s not worth enough to buy literally anything at all? The nickel should probably go too. Even with a “good” level of 2% inflation a year they eventually become pointless.
Won’t it be rounded to the nearest .05? Meaning at $10.01 it would round down?
Just use credit cards. Use your cash to paid it off every month and you get cash back anyways. For some, that can easily be over $1000 in cash back by the end of the year. I don’t use cash ever unless it’s through Zelle or i got loose change on me.
The penny is useless because prices are so high. What can you realistically buy in pennies. As for change, that’s why you go cashless. I was card only stateside, and only have to use cash at 7-Eleven over here in Asia. Otherwise, it’s all scan pay.
As for prices rounding up, that’s just more inflation. But prices have already inflated to the point where the penny has become outmoded. TBH, if pennies were so useful, people wouldn’t toss them en masse into fountains.
For the record, I thought the penny lost its worst like 30 years ago. I started leaving them in tip trays or just chucking them in the trash way back when I was still in college. The nuisance of carrying a jingling tray of coins you will never use wasn’t worth it for me.
Goddamn social media is a mistake. Just use a card or literally every other coin. If you only have a penny on hand you can just wait until you muster up enough pennies. There are still around $65 million pennies lost PER YEAR. That’s more than whatever bullshit reasoning just in 1 year alone. Given they won’t be recirculated you’ll eventually run out of them bitches and her stupid problem is solved
Gas is already charged at less than a penny, literally I’ve seen gas stations like 3.99^(9/10) meaning gas is 1/10 a penny away from $4. So this shit has already been happening for a long time its not new.
She missed that day in grade school where rounding was covered.
We have cards for this
Also this was in the news back in February…”no one’s” talking about it now because the news cycle already happened, though in the heat of the Christmas season they’ll run some “trying to pay cash? Uh oh spaghetti-o’s” stories.
Look while I don’t necessarily care about the whole penny elimination – there’s a lot to do with inflation and economics around pennies in todays economy – the real issue here is: _economic independence_ and _data privacy_.
If you are using cash, a lot of companies don’t get to vacuum up that _sweet, sweet, yum yum delicious data_ on you._
If you haven’t figured it out by now, we in the US don’t live in a democratic republic anymore. We live in a corporatocracy. Cash transactions hurt corporate interests.
Wait. Isn’t using cards the solution to the problem? No need to round with card
In the example she gave in the video, she said that $10.01 would be rounded up to $10.05. Based on the signs I’ve seen at stores and even the terminology of “rounding to the nearest nickel”, it means that cent values of 1 and 2 are rounded down to 0, and 3 and 4 are rounded up to 5 (and similarly for 6 and 7 being rounded down to 5 while 8 and 9 are rounded up).
Paying with a card is a lot more common anyways and isn’t subject to rounding. The money these companies “make” rounding up effectively gets canceled out by the rounding down.
Why are cards scary? I’m more scared about how many Black people are unbanked and still use cash tbh. I’m also not worried about corporations making $40,000 off of 1 million people (it’s really not that crazy), but I am worried that an extra 4 cents can seemingly bring some Black people to financial ruin.
Nope if it’s$ 5.01 then $5
If it’s$ 11.11 then it’s $11.10 cents.
People have been talking about eliminating pennies for decades. It’s not that serious, inflation makes numbers bigger so eventually the penny is too small to be worth dealing with.
Everywhere that tried to do self checkout went right back to cashiers, cause you cant expect people to be the cashier and the customer at the same time without getting a five finger discount.
Just because you found out a process exists doesn’t mean it’s problematic.
We should be getting rid the nickel and dime as well. Personally I’d be okay with making the dime worth 25 and quarter 50 cents if that’s an option.
It’d be even easier if we got rid of sales tax (a regressive tax). No rounding. Companies trying to do the 9.99 bs would at least be 9.75, saving consumers money.
Is anyone making a secret about wanting to eliminate cash, especially at larger retailers? Handling cash is a big pain in the ass.
I work at Walmart. We round your change up to the nearest nickel. Other businesses may do it differently.
Cash sucks, it’s inconvenient and it costs the government a whole bunch of money to produce and distribute physical money. Taxpayers are paying for that too, you know.
Most places have said they’d round down to the nickel. Military bases never used pennies when I lived on them and did it this way
Who is paying with cash ??
We did this in Australia decades ago but we rounded normally. If it came to $40.01 then we rounded down to $40. If it came to $40.03 then it rounds up. If we’re paying by card we pay the exact amount but then get charged a fee for using a card because greed.
The New World Order yall see they got the Diabetes monitor in their arm & the C-PAP in their chest.
clutches pearls, think of the children /s . got that karen energy
Making a penny and paying with a CC the exact .01 amount is not the same. You can still pay the exact amount on CC.