Canada Kills Penny!

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#56
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.
 
#58
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.
 
#60
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?
 
#62
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!"
 
#65
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.
 
K

kittens

Unconfirmed Member
#66
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?
 
#68
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.
 
#69
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.
 
#70
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.
 
#77
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.
 
#81
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.
 
#84
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?
 
#88
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).
 
#90
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.
 

whitehawk

leeches are the best bait when attempting to land bass
#93
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.
 
#95
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.
 
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