3 ms·

I've said before, I'll say again: We should have the $0.1 and $0.5 coins and everything should be rounded to that. There's no reason to have $0.01 or even $0.

by cduzz 2y ago

I've said before, I'll say again: We should have the $0.1 and $0.5 coins and everything should be rounded to that. There's no reason to have $0.01 or even $0.05 precision. The value of the dollar, these days, has inflated to the point where there's simply no practical difference between $0.01 and $0.03 or $0.08 in everyday life, when dealing with cash transactions. You could certainly track $0.01 in digital account tracking, but the coin is silly. And -- with payment processing fees, places dealing with cash or card processing would still see less cost in "rounding down" than paying for card processing.

chgs 2y ago
Prices in America are wired. Bought a beer yesterday waiting for the train. Claimed it was $7, actual price $7.62 (which Amex coincidently converted to exactly £6.00) If I’d paid in cash I’d have to pay with at least a 2 cent coin (and likely need a 1 or 3 in change), despite the nice round number Until America changes to advertise things at the actual price rather than a partial price, I don’t see how getting rid of 1 cent coins works.
- cduzz 2y ago
  It'd cost $7.6 if you pay in cash and $7.62173451123 if you pay via a card? (and, if I were to pass the "small change" bill, I'd, by fiat, make it so that it'd still be "$7.6" even if it was $7.68 -- and the vendors would still come out ahead because the $0.08 lost from rounding down is much less than the $0.23 in card processing fees that comes with a 3% surcharge from your payment processors.)
- zahlman 2y ago
  Does the UK include VAT in all listed prices? I don't recall it working that way in continental Europe, and it certainly doesn't work that way in Canada with our equivalent (nor in the US, as you discovered). That said, advertised prices are commonly not "round" in the first place. In Canada, we simply round the figure on the bill when paying cash.
  - abanana 2y ago
    Yes, prices advertised to consumers must include VAT. UK advertising laws mandate that the price must include all non-optional taxes, fees, etc. Prices advertised exclusively to businesses can exclude VAT.
  - Symbiote 2y ago
    UK and EU law requires advertised prices to include all taxes. The most common exception is things aimed at business buyers, who won't pay tax -- so the Dell consumer website shows laptops prices including tax, and the business site shows them without, but labelled as such. It means if I buy for business from a consumer site, and I'm logged in with my business account, I see 'ugly' prices like 5119.20, as the marketing-friendly number of 6,399.00 is chosen including tax.

by cduzz 2y ago

chgs 2y ago

Prices in America are wired. Bought a beer yesterday waiting for the train. Claimed it was $7, actual price $7.62 (which Amex coincidently converted to exactly £6.00) If I’d paid in cash I’d have to pay with at least a 2 cent coin (and likely need a 1 or 3 in change), despite the nice round number Until America changes to advertise things at the actual price rather than a partial price, I don’t see how getting rid of 1 cent coins works.

cduzz 2y ago
It'd cost $7.6 if you pay in cash and $7.62173451123 if you pay via a card? (and, if I were to pass the "small change" bill, I'd, by fiat, make it so that it'd still be "$7.6" even if it was $7.68 -- and the vendors would still come out ahead because the $0.08 lost from rounding down is much less than the $0.23 in card processing fees that comes with a 3% surcharge from your payment processors.)
zahlman 2y ago
Does the UK include VAT in all listed prices? I don't recall it working that way in continental Europe, and it certainly doesn't work that way in Canada with our equivalent (nor in the US, as you discovered). That said, advertised prices are commonly not "round" in the first place. In Canada, we simply round the figure on the bill when paying cash.
- abanana 2y ago
  Yes, prices advertised to consumers must include VAT. UK advertising laws mandate that the price must include all non-optional taxes, fees, etc. Prices advertised exclusively to businesses can exclude VAT.
- Symbiote 2y ago
  UK and EU law requires advertised prices to include all taxes. The most common exception is things aimed at business buyers, who won't pay tax -- so the Dell consumer website shows laptops prices including tax, and the business site shows them without, but labelled as such. It means if I buy for business from a consumer site, and I'm logged in with my business account, I see 'ugly' prices like 5119.20, as the marketing-friendly number of 6,399.00 is chosen including tax.