I hadn’t given the whole idea of eliminating pennies from cash transactions much thought until today.
I’m looking at my antique brass spittoon overflowing with pennies in a whole different light.
It’s actually now a Strategic Financial Asset.
They’ll have a rounding up and down schedule for sure to balance the gain and loss for customer and seller.
When the cashier says, “That’ll be $1.98,” with a grin and withholding the nickel, I’m whipping out the three pennies with all the smugness I can muster.
Somewhere in the bowels of the Treasury Bureaucracy™ someone will smile and say, “Finally, somebody gets it.”
So we're doing away with the penny. So many questions here. If something comes to $1.96, does the retailer round up and overcharge the consumer 4 cents or round down a penny? It doesn't sound like much, but having to round up or down every transaction could cost either side a lot of money. 🤑💰