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Korea does exactly this, they got rid of 1 and 5 won coins. every transaction is just rounded to the nearest 10. if we got rid of the penny, you round to the n
by Beached 5y ago
Korea does exactly this, they got rid of 1 and 5 won coins. every transaction is just rounded to the nearest 10.
if we got rid of the penny, you round to the nearest 5. if the business hates losing that 2 cents, they will increase the price of their product by. 1or 2 cents so they get an extra 2 cents. if the customer hates that their product costs 3 or 4 cents more, they don't buy
- dawnerd 5y agoCanada does it that way too. But credit card / bank card transactions still use pennies cause why not. Hasn’t seem to have been a problem there and I didn’t even notice the last time I was there.
- nereye 5y agoFor what it’s worth, 10 Korean wons are worth less than a US cent (1 USD is over 1000 KRW).