They did it again!

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Remember the Susan B Anthony and Sacajawea coins? Well the dumb *&)s did it again. I just got some of the new dollar coins and again they are almost identical in size to a quarter. Close enough that you have to look to be sure. Seems to me the idiots were puzzled when people didn't use the old dollar coins. They didn't listen apparently when told that the major objection was the size, too close to a quarter.
Ah well, never underestimate the stupidity of beuracracy!
Harry K
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Harry K wrote:

Is it a problem for you that a one dollar bill is the same size as a fifty?
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Rick Brandt wrote:

The problem is there is no need for a dollar coin since we already have a dollar bill. The idea was obviously conceived by the US Department of Redundancy Department...
AL
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But the dollar coin will greatly outlast the paper bill saving money.
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wrote in message

Saving *who* money? No matter how much money the gov't supposedly *saves* it never give the *savings* back to whom its been stolen.
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Don wrote:

Think of it as preventing an expenditure that need not be incurred.
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AL wrote: ...

Better yet, let's dump pennies and the dollar bill. Do you know that when we made a good decision to dump the half penny it was worth about 20 in today's money? Let's lighten our pockets and get rid of the nickel and quarter also and re-issue a smaller 50 piece and a $5.00 coin making the $10.00 our smallest bill and the dime the smallest coin. Then those $19.95 deals will become $19.90. (or $19.9) :-)
--
Joseph Meehan

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Don't dump them, make them the new dollar coin
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Per Edwin Pawlowski:

I like it...
--
PeteCresswell

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Not so fast there!
The "Penny Dump" is LONG overdue. Because of the extra effort when making change it $.01 piece is a drag on the economy.
The law should require that transactions be "rounded up" to the nearest $.05 unless the seller decides on a different policy. That way, when you get change you don't get your cents.
If the US gets another round of inflation, the "next step" would be to get rid of the $.05 and $.10.
But bring in the $1.00 "token" (as it doesn't contain silver or gold) coin while we still have the $.01 piece a mistake.

Good thinking.
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John Gilmer wrote:

Wouldn't rounding up OR down to the nearest 5 cents be fairer? .03 and .04 UP, .01 and .02 DOWN.
I haven't heard a valid argument for the US keeping the penny coin for quite a while. From what I have heard, the mint makes more penny coins than the total of all the other denominations of coins because so many pennies go out of circulation for a variety of reasons.
Legislation to eliminate the penny is proposed every few years and doesn't pass. I'd bet it's because of strong lobbying by the mint worker's union and the metal suppliers. And maybe by some charitable organizations too, I've heard they feel many folks will toss all the pennies they have on them into a collection jar, and they feel they will get less overall donations if pennies aren't around.
Jeff
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Jeffry Wisnia
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Jeff Wisnia wrote: ..

Just leave it up to the seller. Competition will take care of it.

I have heard that some charities have complained. It seems a little bit of a stretch these days.
However I often hear people objecting because they think it will increase prices. The think all those 1.97 items will become 2.00. I say fat chance. The only reason they are now 1.97 is to make it seem cheaper.

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Joseph Meehan

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Joseph Meehan wrote:

Doesn't matter by the time you get done with sales tax added on. Anyone still have 3%?

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snipped-for-privacy@unsettled.com wrote:
<snipped>

Well, here in Massachusetts, there's NO sales tax on groceries or on clothing costing below (I think it's) $150 per garment. Most of the rest of the stuff we buy including foods considered a "meal" gets taxed at 5%.
But, there are some other exceptions like periodicals (but not "books") and the one which seems wackiest to me is the sales tax on "bakery items" purchased in quantities greater than a dozen at a time. IOW if you buy from one to eleven Dunkin Donuts you pay 5% tax, but when buying 12 or more they are not taxed.
Course, one state north of here, New Hampshire, less than an hour's drive from metropolitan Boston, there's zero sales tax, and we're constantly peppered with radio, TV and print ads from stores up north which append "In tax free New Hampshire" to their names.
It's illegal to buy stuff in New Hampshire and cart it back to Masachusetts and then not declare the purchase on your next state income tax return and pony up 5% to good old Taxachusetts, but I suspect that's honored more in the breach than the observance. <G>
Jeff
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Jeffry Wisnia
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On Mon, 19 Feb 2007 12:11:45 -0500, "Joseph Meehan"

Where else can you get game tokens, spacers, and fairly uniform weights for only a penny each?
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... or copper plated, zinc shot pin washers?
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Any rounding should be in the favor of the buyer. Sellers control pricing. They are in a position to set prices so a "fair" rounding scheme always produces rounding in their favor. This adds up, and is essentially free money. I don't see how a business could pass it up.

I suggest dropping the penny and $1 bill and using $1 coin and $2 bill. This keeps the number of bins in a cash register the same (one of the anti-change lobbies).
The $1 coin media blitz had me comparing Half, 1, and Quarter coins. To me, the 50 cent coin is about the right size for a $1 coin. It's visibly larger than a quarter, but not absurdly large like previous $1 coins. What the hell were the SBA dollar designers thinking?
m
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snipped-for-privacy@sonic.net says...

In a free market economy, *Buyers* control pricing.

They can't ingore competition. Imagine that a particular style of widget was previously priced at $1.97. If seller A rounds up to $2.00 and Seller B rounds down to $1.95, who do you suppose makes the sale?

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says...

The store you happen to be in at the time;most people will not alter their buying habits for such small sums(that do add up over a year's time).
--
Jim Yanik
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snipped-for-privacy@abuse.gov says...

The seller with the lower price will sell more merchandise. That's simply the way the market works. If Seller A's prices are consistently $.05 higher than Seller B's prices, Seller B will sell more stuff. If that were not the case, then how do you account for the razor thin margins of grocery stores?
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