Quote:
Originally Posted by sloride
I often ask why is this, say $3.96 after tax. Why don't retailers just raise the price so the final cost is a rounder number. I realize psychologically it sounds better if something is priced at $3.99 rather than $4.03 but I doubt that will cost many sales, but longer checkout likes could do that also.
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Canada some time ago cancelled the penny in circulation. Prices are now rounded off. The nickel will go next I suspect. The one and two dollar bills where replaced with equivalent coins many years ago as well.
What was interesting at least to me. When they cancelled the penny. It was totally out of circulation so fast it was amazing. As far as I am concerned elimination of the nickel and dime would not mean much with todays prices here as well. To round things up either higher or lower.
Also impacting things is the extensive uses of cards for money. The wife and myself really seldom use actual money anymore. We will not live to see it at our ages but physical money at some point will probably not exist. It leaves no trail in many types of transactions.
I could buy into implementing that if it reduced the illegal drug business. Unfortunatly I have come to believe there is no serious interest in doing that. With drugs comes crime and far too many lives destroyed.