SUBSCRIBE | NEWSLETTERS | MAPS | VIDEOS | BLOGS | MARKETPLACE | CONTESTS
TRY BACKPACKER FREE!
SUBSCRIBE NOW and get
2 Free Issues and 3 Free Gifts!
Full Name:
Address 1:
Address 2:
City:
State:
Zip Code:
Email: (required)
If I like it and decide to continue, I'll pay just $12.00, and receive a full one-year subscription (9 issues in all), a 73% savings off the newsstand price! If for any reason I decide not to continue, I'll write "cancel" on the invoice and owe nothing.
Your subscription includes 3 FREE downloadable booklets.
Or click here to pay now and get 2 extra issues
Offer valid in US only.


» Welcome Guest
[ Log In :: Register ]

Page 1 of 212>>

[ Track This Topic :: Email This Topic :: Print this topic ]

reply to topic new topic new poll
Topic: We Need to Do This Too< Next Oldest | Next Newest >
 Post Number: 1
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 3:13 pm  Skip to the next post in this topic. Ignore posts   QUOTE

Canada is phasing out its pennies.  Methinks that's a great idea!  I'd also like to see all stores show pricing inclusive of taxes -- rounded to the nearest dollar or half dollar -- so what you see on the tag is exactly what you pay??

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 2
TigerFan Search for posts by this member.

Avatar



Group: Members
Posts: 2677
Joined: May 2010
PostIcon Posted on: Feb. 04 2013, 3:27 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

So... if the price for an item is $1.00 and the state charges 6% sales tax, the consumer than has to pay $1.50?  Who gets the extra 44 cents?

--------------
Duct tape is like the Force.  It has a light side, a dark side, and it holds the universe together.
Offline
Top of Page Profile Contact Info 
 Post Number: 3
treelinebackpacker Search for posts by this member.

Avatar



Group: Members
Posts: 726
Joined: Aug. 2011
PostIcon Posted on: Feb. 04 2013, 3:30 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Or you could pay 1.05, or 1.10.
They're talking pennies, not all change.
Or you could join the rest of the world and pay with a card.
Offline
Top of Page Profile Contact Info 
 Post Number: 4
TigerFan Search for posts by this member.

Avatar



Group: Members
Posts: 2677
Joined: May 2010
PostIcon Posted on: Feb. 04 2013, 3:35 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(treelinebackpacker @ Feb. 04 2013, 3:30 pm)
QUOTE
Or you could pay 1.05, or 1.10.
They're talking pennies, not all change.
Or you could join the rest of the world and pay with a card.

rounded to the nearest dollar or half dollar

--------------
Duct tape is like the Force.  It has a light side, a dark side, and it holds the universe together.
Offline
Top of Page Profile Contact Info 
 Post Number: 5
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 3:35 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(TigerFan @ Feb. 04 2013, 12:27 pm)
QUOTE
So... if the price for an item is $1.00 and the state charges 6% sales tax, the consumer than has to pay $1.50?  Who gets the extra 44 cents?

Depending on competition... maybe the store eats the rounding.  But really, just getting rid of the pennies will be a great start.  We can worry about nickels later... and dimes later still.

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 6
llamapacker Search for posts by this member.

Avatar



Group: Members
Posts: 1023
Joined: Feb. 2010
PostIcon Posted on: Feb. 04 2013, 3:37 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

It has been quite a few years since I was in Australia and I don't remember if they officially stopped using pennies or were just ignoring them.  Franco would know.  I do recall that prices were rounded up or down to the nearest 5 cents.  It struck me as very civilized.  

I've read that even our nickles are not cost effective to produce.  Basically we are subsidizing the mining industry.
Offline
Top of Page Profile Contact Info 
 Post Number: 7
Lamebeaver Search for posts by this member.
trail? I don't need no stinkin trail!
Avatar



Group: Members
Posts: 19329
Joined: Aug. 2004
PostIcon Posted on: Feb. 04 2013, 3:59 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Ben2World @ Feb. 04 2013, 1:35 pm)
QUOTE
Depending on competition... maybe the store eats the rounding.

Uhhh, yeah, I'm sure that's how it works.......
Offline
Top of Page Profile Contact Info 
 Post Number: 8
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 4:31 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Lamebeaver @ Feb. 04 2013, 12:59 pm)
QUOTE

(Ben2World @ Feb. 04 2013, 1:35 pm)
QUOTE
Depending on competition... maybe the store eats the rounding.

Uhhh, yeah, I'm sure that's how it works.......

It's called capitalism -- ye old, cynical goat!  :p

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 9
Franco Search for posts by this member.

Avatar



Group: Members
Posts: 3098
Joined: Feb. 2005
PostIcon Posted on: Feb. 04 2013, 5:14 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

The Australian  one and two cents coins were taken out of circulations in 1992.
That saved me time when counting money in the tills at the end of the day...
We still have prices listed as 99c (or $1.47 ...) that gets rounded up or down by the cash register.
All our prices include tax, so if your cup of coffee is advertised at $2.50 , that is what you pay...
(not $2.50 plus service charge ,plus tax)
Offline
Top of Page Profile Contact Info 
 Post Number: 10
Marmotstew Search for posts by this member.

Avatar



Group: Members
Posts: 9359
Joined: May 2006
PostIcon Posted on: Feb. 04 2013, 5:22 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

See, this is why the metric system is so complicated.
Offline
Top of Page Profile Contact Info 
 Post Number: 11
JRinGeorgia Search for posts by this member.

Avatar



Group: Members
Posts: 597
Joined: Jul. 2012
PostIcon Posted on: Feb. 04 2013, 5:26 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

I believe the proposal in the USA to get rid of the penny would result in rounding only on cash transactions -- credit cards would still be exact amount.

--------------
- JRinGeorgia
Offline
Top of Page Profile Contact Info 
 Post Number: 12
ol-zeke Search for posts by this member.
Clear Creek
Avatar



Group: Members
Posts: 12886
Joined: Sep. 2002
PostIcon Posted on: Feb. 04 2013, 5:27 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

[Eliminating the $1 bill makes much more sense.  We should go to $1 coins for the savings to our Treasury.  Would save us more than most of the cuts they are not talking about on Capital Hill.  

--------------
Everything I know, I learned by doing it wrong at least twice.

"I would rather wake up in the middle of nowhere than in any city on earth."  Steve McQueen
Offline
Top of Page Profile Contact Info 
 Post Number: 13
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 5:53 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(JRinGeorgia @ Feb. 04 2013, 2:26 pm)
QUOTE
I believe the proposal in the USA to get rid of the penny would result in rounding only on cash transactions -- credit cards would still be exact amount.

Not necessarily, if only because cash and credit prices tend to be the same for most purchases.  Rounding out one (tax inclusive) means rounding out the other.

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 14
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 5:55 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(ol-zeke @ Feb. 04 2013, 2:27 pm)
QUOTE
[Eliminating the $1 bill makes much more sense.  We should go to $1 coins for the savings to our Treasury.  Would save us more than most of the cuts they are not talking about on Capital Hill.  

Subjective, I know, but I much prefer bills than %$#@ coins jingling in my trouser pockets.

Many countries prolong the useful lives of their lower-denomination currencies with a thin 'plastic' coating.


--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 15
Raznation Search for posts by this member.
Why surf when you can make waves!
Avatar



Group: Members
Posts: 24405
Joined: Sep. 2004
PostIcon Posted on: Feb. 04 2013, 8:45 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

They should make a 99­¢ coin.

Sure would make shopping at the Dollar Store a lot easier! LuTz


--------------
Offline
Top of Page Profile Contact Info WEB 
 Post Number: 16
JRinGeorgia Search for posts by this member.

Avatar



Group: Members
Posts: 597
Joined: Jul. 2012
PostIcon Posted on: Feb. 04 2013, 9:02 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Ben2World @ Feb. 04 2013, 5:53 pm)
QUOTE

(JRinGeorgia @ Feb. 04 2013, 2:26 pm)
QUOTE
I believe the proposal in the USA to get rid of the penny would result in rounding only on cash transactions -- credit cards would still be exact amount.

Not necessarily, if only because cash and credit prices tend to be the same for most purchases.  Rounding out one (tax inclusive) means rounding out the other.

My source: Time Magazine Feb 4, p40, "The federal government would begin advising businesses and consumers on how to conduct cash transactions without pennies, which would likely include rounding up or down to the nearest nickel on the final bill of sale. Businesses would still use the penny as a price point for credit- and debit-card purchases." (emphasis mine)


--------------
- JRinGeorgia
Offline
Top of Page Profile Contact Info 
 Post Number: 17
ol-zeke Search for posts by this member.
Clear Creek
Avatar



Group: Members
Posts: 12886
Joined: Sep. 2002
PostIcon Posted on: Feb. 04 2013, 9:02 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Getting rid of the penny, which I am in favor of, would make room for the dollar coin in the cash drawer.  

--------------
Everything I know, I learned by doing it wrong at least twice.

"I would rather wake up in the middle of nowhere than in any city on earth."  Steve McQueen
Offline
Top of Page Profile Contact Info 
 Post Number: 18
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 9:03 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(JRinGeorgia @ Feb. 04 2013, 6:02 pm)
QUOTE

(Ben2World @ Feb. 04 2013, 5:53 pm)
QUOTE

(JRinGeorgia @ Feb. 04 2013, 2:26 pm)
QUOTE
I believe the proposal in the USA to get rid of the penny would result in rounding only on cash transactions -- credit cards would still be exact amount.

Not necessarily, if only because cash and credit prices tend to be the same for most purchases.  Rounding out one (tax inclusive) means rounding out the other.

My source: Time Magazine Feb 4, p40, "The federal government would begin advising businesses and consumers on how to conduct cash transactions without pennies, which would likely include rounding up or down to the nearest nickel on the final bill of sale. Businesses would still use the penny as a price point for credit- and debit-card purchases." (emphasis mine)

I see.   But I also see it as optional.  In any case, as hide-bound as we can be sometimes, any change will probably still take a while yet...

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 19
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 9:04 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(ol-zeke @ Feb. 04 2013, 6:02 pm)
QUOTE
Getting rid of the penny, which I am in favor of, would make room for the dollar coin in the cash drawer.  

True.  I still favor plasticizing our paper bills -- but getting rid of the penny will be a step forward regardless.

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 20
Montanalonewolf Search for posts by this member.

Avatar



Group: Members
Posts: 7123
Joined: Mar. 2010
PostIcon Posted on: Feb. 04 2013, 9:26 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Ben2World @ Feb. 04 2013, 3:55 pm)
QUOTE

(ol-zeke @ Feb. 04 2013, 2:27 pm)
QUOTE
[Eliminating the $1 bill makes much more sense.  We should go to $1 coins for the savings to our Treasury.  Would save us more than most of the cuts they are not talking about on Capital Hill.  

Subjective, I know, but I much prefer bills than %$#@ coins jingling in my trouser pockets.

Many countries prolong the useful lives of their lower-denomination currencies with a thin 'plastic' coating.

My brother is "into" money (as in collecting samples of odd currency) and explained why we still have $1 bills and $1 coins... 2 different branches of the Treasury. The coins come from the mint, paper bills are produced by the Bureau of Engraving and Printing.

Dump the penny.

The one thing I'd really like done away with is that $@#&!*^ 9/10¢ at the gas pump. It may have made sense when a gallon was 0.05.9¢ but hasn't for more than 50 years. I don't care who gets it or where it goes. Just get rid of it.


--------------
If you are free to be a Liberal- Thank a person with a gun.

Those who don't read have no advantage over those who can't.
Offline
Top of Page Profile Contact Info 
 Post Number: 21
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 04 2013, 9:34 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Montanalonewolf @ Feb. 04 2013, 6:26 pm)
QUOTE
The one thing I'd really like done away with is that $@#&!*^ 9/10¢ at the gas pump. It may have made sense when a gallon was 0.05.9¢ but hasn't for more than 50 years. I don't care who gets it or where it goes. Just get rid of it.

That persists because pump station owners insist that consumers view $4.04 as significantly more than $4.039  -- same as how store retailers believe consumers much prefer $4.49 over $4.50.  Enough to make different purchasing decisions!

Are we consumers really as stupid as retailers keep saying we are?


--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 22
Lamebeaver Search for posts by this member.
trail? I don't need no stinkin trail!
Avatar



Group: Members
Posts: 19329
Joined: Aug. 2004
PostIcon Posted on: Feb. 04 2013, 10:32 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

First it's 30 round magazines, next pennies.  Just like the NRA told us.
Offline
Top of Page Profile Contact Info 
 Post Number: 23
High_Sierra_Fan Search for posts by this member.

Avatar



Group: Members
Posts: 43749
Joined: Aug. 2005
PostIcon Posted on: Feb. 04 2013, 10:47 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(ol-zeke @ Feb. 04 2013, 2:27 pm)
QUOTE
[Eliminating the $1 bill makes much more sense.  We should go to $1 coins for the savings to our Treasury.  Would save us more than most of the cuts they are not talking about on Capital Hill.  

I like dollar coins.
Offline
Top of Page Profile Contact Info 
 Post Number: 24
ol-zeke Search for posts by this member.
Clear Creek
Avatar



Group: Members
Posts: 12886
Joined: Sep. 2002
PostIcon Posted on: Feb. 04 2013, 10:57 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

I now read where it costs the US 2c to produce and distribute each penny to banks.  That cost us $5.8 billion last year alone.  As for the $ bill, switching to a $1 coin would save us $4.4 billion over the next 30 yrs. Not as significant, but still worth the savings. 

--------------
Everything I know, I learned by doing it wrong at least twice.

"I would rather wake up in the middle of nowhere than in any city on earth."  Steve McQueen
Offline
Top of Page Profile Contact Info 
 Post Number: 25
big_load Search for posts by this member.

Avatar



Group: Members
Posts: 23856
Joined: Jun. 2004
PostIcon Posted on: Feb. 04 2013, 11:09 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

I'd be happy with any reasonable approach to killing the penny.  It really bugs me that they're so hard to get rid of.  I can't even deposit them at the bank without paying a ridiculous change-counting fee.
Offline
Top of Page Profile Contact Info 
 Post Number: 26
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 05 2013, 12:02 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(big_load @ Feb. 04 2013, 8:09 pm)
QUOTE
I'd be happy with any reasonable approach to killing the penny.  It really bugs me that they're so hard to get rid of.  I can't even deposit them at the bank without paying a ridiculous change-counting fee.

I toss my coins into a jar -- roll them all up once a year and exchange them for bills.  No bank charges -- but still an inconvenience that really doesn't do anyone any good -- esp. the pennies.


--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 27
cgaphiker Search for posts by this member.
Hen Wallow Falls
Avatar



Group: Members
Posts: 11365
Joined: Apr. 2006
PostIcon Posted on: Feb. 05 2013, 12:14 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Ben2World @ Feb. 05 2013, 12:02 am)
QUOTE

(big_load @ Feb. 04 2013, 8:09 pm)
QUOTE
I'd be happy with any reasonable approach to killing the penny.  It really bugs me that they're so hard to get rid of.  I can't even deposit them at the bank without paying a ridiculous change-counting fee.

I toss my coins into a jar -- roll them all up once a year and exchange them for bills.  No bank charges -- but still an inconvenience that really doesn't do anyone any good -- esp. the pennies.

I throw my change in a mug and when it's full I dump it in a big glass jar then roll it up and trade it for bills for vacations. I kinda like running my fingers through it like it's pirate booty.  :D
My credit union doesn't charge any fees and even give me the coin rolls.
Offline
Top of Page Profile Contact Info 
 Post Number: 28
Ben2World Search for posts by this member.

Avatar



Group: Members
Posts: 25883
Joined: Jun. 2005
PostIcon Posted on: Feb. 05 2013, 12:16 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(cgaphiker @ Feb. 04 2013, 9:14 pm)
QUOTE
it's pirate booty.  :D

:D

--------------
The world is a book and those who do not travel read only a page.  -- St. Augustine
Offline
Top of Page Profile Contact Info 
 Post Number: 29
cgaphiker Search for posts by this member.
Hen Wallow Falls
Avatar



Group: Members
Posts: 11365
Joined: Apr. 2006
PostIcon Posted on: Feb. 05 2013, 12:32 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

uh oh   :;):
Offline
Top of Page Profile Contact Info 
 Post Number: 30
GoBlueHiker Search for posts by this member.
Obsessive Island Hopper...
Avatar



Group: Members
Posts: 16363
Joined: Jul. 2006
PostIcon Posted on: Feb. 05 2013, 2:39 am Skip to the previous post in this topic.  Ignore posts   QUOTE

I'm all for it. The penny has been completely obsolete for decades.

How will businesses round?  The exact same way they used to when the penny was worth 10x what it is today.  It worked then.


--------------
Wealth needs more.  Happiness needs less.  Simplify.

www.RainForestTreks.com
Offline
Top of Page Profile Contact Info WEB 
34 replies since Feb. 04 2013, 3:13 pm < Next Oldest | Next Newest >

[ Track This Topic :: Email This Topic :: Print this topic ]


Page 1 of 212>>
reply to topic new topic new poll

» Quick Reply We Need to Do This Too
iB Code Buttons
You are posting as:

Do you wish to enable your signature for this post?
Do you wish to enable emoticons for this post?
Track this topic
View All Emoticons
View iB Code



Get 2 FREE Trial Issues and 3 FREE GIFTS
Survival Skills 101 • Eat Better
The Best Trails in America
YES! Please send me my FREE trial issues of Backpacker
and my 3 FREE downloadable booklets.
Full Name:
City:
Address 1:
Zip Code:
State:
Address 2:
Email (required):
Free trial offer valid for US subscribers only. Canadian subscriptions | International subscriptions