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    PhilipTheBucketMA to US News · 9 days ago

    US Treasury confirms the end of the penny

    www.bbc.com

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    • cross-posted to:
    • politics@sh.itjust.works
    • usa@midwest.social
    • bbc_us@rss.ponder.cat
    36
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    US Treasury confirms the end of the penny

    www.bbc.com

    PhilipTheBucketMA to US News · 9 days ago
    message-square
    17
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    • cross-posted to:
    • politics@sh.itjust.works
    • usa@midwest.social
    • bbc_us@rss.ponder.cat
    There has been a long debate over the cost and usefulness of one cent coins in the US.
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    • thesohoriots@lemmy.world
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      9 days ago

      The phasing out of the coins will mean businesses will need to round prices up or down

      • FiveMacs@lemmy.ca
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        9 days ago

        Canada did it.

        If you pay in cash, it’s rounded up (obviously)

        If you pay digitally, nothing changed.

        Over a decade, you probably won’t even lose a dollar unless you only pay in cash for everything.

        • Entheon@lemmy.world
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          9 days ago

          I don’t have faith that the US can do such a straightforward system without gouging

        • buffing_lecturer@leminal.space
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          9 days ago

          If you pay cash its rounded to nearest 5¢, up or down. At least this has been the case in my experience.

          • FiveMacs@lemmy.ca
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            9 days ago

            Yes, my bad. To the nearest 5 cent.

      • Rentlar@lemmy.ca
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        9 days ago

        In Denmark they had rounding up or down to the nearest 25, now the 50 øre piece. If you’re half way in many countries the shop can pick. Electronic payments can still be to the lowest significant digit.

        • hitmyspot@aussie.zone
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          9 days ago

          Australia rounds to nearest 5c also. Digital remains the same exact to the cent.

    • Skullgrid@lemmy.world
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      9 days ago

      CGP Grey is already moving the goalposts

      https://www.youtube.com/watch?v=58SrtQNt4YE

      • PhilipTheBucketOPMA
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        9 days ago

        Holy God this is hilarious

    • edgemaster72@lemmy.world
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      9 days ago

      I’m sure this will be enacted with all appropriate considerations and precautions, to ensure the smoothest transition possible

    • formergijoe@lemmy.world
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      9 days ago

      RIP to the squish a penny into a souvenir machine industry

      • hitmyspot@aussie.zone
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        9 days ago

        Squish a nickel?

    • Kalon@lemmy.world
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      9 days ago

      Good. They should get ride of the penny and the dollar bill.

      More dollar coins and two dollar bills.

    • FaceDeer@fedia.io
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      8 days ago

      Every once in a rare while even a clock as broken as Trump can be correct.

    • Lovable Sidekick@lemmy.world
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      8 days ago

      Penny? knock-knock Penny? knock-knock Penny?

    • RizzRustbolt@lemmy.world
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      9 days ago

      Yay, $700,000 a year saved!

      • cryptiod137@lemmy.world
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        9 days ago

        Closer to $179,000,000 saved but I’m guessing you were rounding

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