Quote:
Originally Posted by NCC1701
Nickels, that's what the US Mint calls them, are 75% copper and cost around 10˘ each to mint.
The Great "Penny" Debate
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From a standpoint of credit cards and checks, the penny poses no real problem; it's just another digit. However, with cash, it poses a problem; most of us don't care to deal with pennies and it costs a lot more than a penny to make it.
Rounding could solve the penny issue:
0 1 2 | 3 4
5 6 7 | 8 9
10
As you can see from above, the point to round up or down is very clear. Both 1 & 2 are close to 0 and 3 & 4 are close to 5. In the same way, 6 & 7 are close to 5 and 8 & 9 are close to 10.
Following the rounding rule could solve the penny problem, BUT the catch is that all our cash registers and software to count money is designed around the penny. Making the change to the nearest 5 cents would require massive upgrade costs.
No easy answer here....
Bob Diaz