Australia solved this problem back in 1990 by removing 1c and 2c coins. When paying in cash, transactions are rounded to the nearest 5c. No rounding occurs for digital transactions.
Have just spent a month in the USA for the first time, I found that the only reason coins < 25c were used were when change was given. And this was only the case because adding tax to the price made most prices having unrounded final amounts. In Australia, all prices are quoted including tax, which means that prices can be rounded, and so the need for coins in minimised.
I love the mathematical slant of this paper, but it'd make much more sense to try and get rid of the need for coins.
Perhaps, the USA could remove all coins except for quarters?
I've sworn for years if I ever own a store, all prices will either include tax, or will be to a round dollar or quarter.
The US got rid of the half cent when it couldn't be used to buy anything of worth. Inflation adjusted, it had the value of 14 cents. I've started to leave pennies, nickels, and dimes in the "leave a penny, take a penny" holders.
Yeah, although if you did that, everybody would subconsciously think that your prices were higher. Perhaps just show the inc. tax and ex. tax prices. AirBNB and Uber do this nicely already.
Half cents! ha ha... I find it funny how US petrol stations quote gas to the tenth of a cent. Such as $3.39 9/10 a gallon.
I also found it really difficult having all the paper notes the same colour. I'd look in my wallet and I couldn't tell whether I had hundreds of dollars, or just ten one dollar bills. The poor shop keepers who had to wait for me to look at each bill and coin individually before handing them over :-p
Have just spent a month in the USA for the first time, I found that the only reason coins < 25c were used were when change was given. And this was only the case because adding tax to the price made most prices having unrounded final amounts. In Australia, all prices are quoted including tax, which means that prices can be rounded, and so the need for coins in minimised.
I love the mathematical slant of this paper, but it'd make much more sense to try and get rid of the need for coins.
Perhaps, the USA could remove all coins except for quarters?