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There's a cash-heavy business I work with that's already having a hard time sourcing the pennies they need. I guess they're all in a jar under your desk.
by c22 11mo ago
There's a cash-heavy business I work with that's already having a hard time sourcing the pennies they need. I guess they're all in a jar under your desk.
- MangoToupe 11mo agoI have a hard time believing any business relies on access to Pennies when all cash transactions can be rounded to a nickel in some way amenable to both parties. I imagine most customers just don’t give a damn.
- c22 11mo agoI'm pretty sure they're considering doing this, but I don't know what all the pros and cons or complexities are.
- didgetmaster 11mo agoIt seems to me that if there was truly a shortage of pennies, banks could offer to pay 2 cents for every penny someone turned in (still far cheaper than minting a new one) and enough people would pull out their penny jars and cash them in.
- allknowingfrog 11mo agoThat...actually seems economically sound, but it's also a strong argument for the idea that pennies are effectively worthless.
- c22 11mo agoNow we've unlocked a new lucrative business model where we can cut the customer out entirely! Simply buy pennies from the bank on the dollar and sell them back for 100% profit...