[ClosingADoor]

Companies are guaranteed to price things so the amount always rounds up for single item purchases.

Not when you buy a couple of things. Doing groceries, you have just as much chance getting 19.96 as 19.99. And it is only rounded if you pay cash.

[onemic]

Good. Pennies are worthless.

[ghostmind]

Late to the bad joke.


Looking forward to when Americans go shopping in Canada, only to be denied their pennies in change.

[Neki]

Companies are guaranteed to price things so the amount always rounds up for single item purchases.

Won't someone please think of the pennies!

[Bulbo Urethral Baggins]

Nice. I hate pennies, I always toss 'em in the trash. Especially Canadian pennies, I live in Northwestern Michigan so they somehow find their way into my pocket. US needs to do the same.

Can you still use canadian change in Michigan? I always hated getting Canadian coins. Never felt right.

[TDLink]

Yeah, everything priced at X.99 or X.96 cents will almost certainly just become X.95 cents. The whole purpose of making it near whole dollar but not quite is to make it seem cheaper and it definitely works psychologically. So in general we probably -will- be saving some cents on these types of purchases.

[samus i am]

America should too but it will never happen. Also, no more paper dollars.

[Markster]

Because of the "$9.99 looks like a dollar cheaper than $10.00" mental model, I think it's more likely that companies will charge .95 instead of rounding up to a flat dollar...

Nothing will stop retailers from continuing to sell goods at the .99 price point. Tax will still apply on a per-cent basis, and the final number will be rounded to the nearest 5.

Also:

Now to start the "Kill the nickel" and "Kill the dime" campaigns.

[Firestorm]

But how will I leave a penny and take a penny?
Oh right, I won't have to.

This is a good move. I support this move.

[Acerac]

I have fought against pennies for years and finally we are one step closer to eradicating the horrible pests!

Words can not describe how pumped I am.

All businesses will readjust their prices so that it always gets rounded up, maybe.

Aww... they totally will, won't they?

[les papillons sexuels]

Companies are guaranteed to price things so the amount always rounds up for single item purchases.

GST already does that.

[EYEL1NER]

They could move to a system used by some small middle-eastern or eastern european markets and just give sticks of gum in place of small change.
"3.97 please. Oh, you're paying with a fiver? Well here's your change. That's 1 dollar and 3 sticks of Juicy Fruit. Have a nice day!"

[linko9]

Whitta will be happy.

[Max Armstrong]

Great great news! I hate change, so one less coin in my pocket is for the best.

[Crazymoogle]

Nothing will stop retailers from continuing to sell goods at the .99 price point. Tax will still apply on a per-cent basis, and the final number will be rounded to the nearest 5.

That's a fair point, but the question becomes: does the business or the CRA take the extra if you round the final number? I presume the CRA but that should be interesting to see pan out.

Now to start the "Kill the nickel" and "Kill the dime" campaigns.

Still on board.

[kittens]

Why are people so excited about this? Sounds like some weirdo futurist masturbating to me. Getting rid of coins doesn't suddenly make the world better.

Also, what happens when you buy produce and are supposed to get 4 cents back in change? Just... Oh well?

[Kurdel]

Billions and billions of worthlesss coins.

I hope there will be some sort of recycling program for the coins...

[Mr. Tone]

I'm too young to remember actually using the 1c and 2c coins here in Australia. The concept just seems so wasteful and unnecessary to me. Sounds like a good move for Canada.

[Acerac]

Why are people so excited about this? Sounds like some weirdo futurist masturbating to me. Getting rid of coins doesn't suddenly make the world better. Also, what happens when you buy produce and are supposed to get 4 cents back in change? Just... Oh well?

You pay 1 cent less in that case. Read the OP.

[Neki]

Why are people so excited about this? Sounds like some weirdo futurist masturbating to me. Getting rid of coins doesn't suddenly make the world better. Also, what happens when you buy produce and are supposed to get 4 cents back in change? Just... Oh well?

So everything we do has to make the world a better place?

gotcha.

[Escape Goat]

This idea doesn't make any cents to me.

[Crazymoogle]

I hope there will be some sort of recycling program for the coins...

The Mint is taking back coins through the banks, after which it sounds like they have smelting plans in mind.

[Tesseract]

but how will i pay for my calzones?

[TemplaerDude]

Why are people so excited about this? Sounds like some weirdo futurist masturbating to me. Getting rid of coins doesn't suddenly make the world better. Also, what happens when you buy produce and are supposed to get 4 cents back in change? Just... Oh well?

Read. The. OP.

[Clydefrog]

This will never happen in the US, Obama is all about change.

ba-dum-tshh

[Zoe]

Or just have sales tax included in the price so everything ends off even.....

Does Canada not have to deal with differences in regional sales tax?

[Crazymoogle]

Does Canada not have to deal with differences in regional sales tax?

All sales taxes are fed+provincial, sometimes combined into a unified rate. It's consistent within the province (no "city sales tax" type stuff AFAIK) but each province is its own kingdom in terms of total tax rate.

[Grinchy]

This will never happen in the US, Obama is all about change.

hahahahaha i laughed way too hard at this

[ReturnOfTheRAT]

I love Penny.

[mavs]

It will remain in circulation in the US. Nobody gives a shit whether a penny is Canadian or American.

[gabbo]

Why are people so excited about this? Sounds like some weirdo futurist masturbating to me. Getting rid of coins doesn't suddenly make the world better. Also, what happens when you buy produce and are supposed to get 4 cents back in change? Just... Oh well?

Hopefully the scheme to round off prices to the nearest five cents after tax will stop this from being a major problem.

Though governments have been saying they'll do this for years, so I'll wait and see if they actually move forward without outside of a budget speech.

[ronniehehehaha]

Companies are guaranteed to price things so the amount always rounds up for single item purchases.

So are they only rounding for cash, or credit/debit too?

[bigboss370]

any chance of pennies becoming collector's items that i can sell for riches years later? o_O

Didn't they do away with their version of the dollar bill too? And use a dollar coin instead?

how do you tip strippers in Canada?

So are they only rounding for cash, or credit/debit too?

only cash.

[Jasoneyu]

Whoosh can't wait for this change and our new plastic bills. Question though, why does it seem like the American Bills never seem to change where as other countries seem to refresh ever so often?

[2San]

So are they only rounding for cash, or credit/debit too?

Honestly your answer is right there in the OP.

[polyh3dron]

RIP

[Paradoxal_Utopia]

This is pretty much the most fucking amazing thing ever. About time. Fucking pennies.

[Kurashima]

Companies are guaranteed to price things so the amount always rounds up for single item purchases.

I doubt this will be a problem. From a business' POV, I would think that it should only affect things that aren't taxed, like basic food. Rounding would happen mostly after taxes, so I assume either businesses would keep track of rounding differences and take that into account when it comes time to remit their taxes, or simply ignore it and remit based on the non-rounded amount. Base prices should probably stay the same (that is, mostly ending with $.99 so that the amount the company themselves keeps is as high as possible while still retaining that psychological low price factor).

[ronniehehehaha]

Honestly your answer is right there in the OP.

Cool, so the point being is it does not matter if companies try to adjust prices to round up. Round up, pay debit/credit. Round down, pay cash.

[MrCunningham]

Didn't they do away with their version of the dollar bill too? And use a dollar coin instead?

We also have 2 dollar coins as well, and last year we started replacing paper money with plastic. The Canadian 100 dollar bill is now plastic, and 50 dollar plastic bills are scheduled for this month... or maybe they're already in circulation? I dunno, I haven't seen any yet.

As for pennies... I still have tin containers full of these fuckers. I won't miss them at all.

[firehawk12]

NOOOOOOOOOOO. I like pennies.

Now the fuckers will rip off customers by rounding up every time. :(

[Wiseblade]

Super dumb. If companies round up then I'm losing money, if they round down then the cycle starts all over again.

[whitehawk]

Yess! No more pennies for me! I don't care if I lose 1-4 cents on a transaction.

As far as I am aware, it costs more than 1cent to manufacture a penny, which doesn't make sense. And since people are constantly losing them (since they are just a penny) they have to keep making more and more.

Next step is including the tax in prices displayed. New Zealand already has this AND no penny. We could learn from them.

[Leshita]

Sweet, less change to carry. :)

[Bay Maximus]

Would be great if the U.S. would do this. America is generally scared to get with the times though so I doubt it will be anytime soon.

Edit: Also with the way plastic is being used these days, critics would have even less firepower than they did prior.

[Desibabu]

First plastic money, now we're becoming penniless. This country's turning into Australia.

[Ignatz Mouse]

Super dumb. If companies round up then I'm losing money, if they round down then the cycle starts all over again.

When the US Half-cent was phased out of circulation, it was worth about a dime.

This is a non-issue.

[alr1ght]

I hate pennies. I need to plan a trip to the coinstar machine.

[MrCunningham]

First plastic money, now we're becoming penniless. This country's turning into Australia.

Now, if only banks can issue Visa-debit.... :P

[Stumpokapow]

What kind of a Canadian still uses non-electronic currency? Tim's started allowing debit a while ago.