Penny for your thoughts

[Darren Dirt]

http://www.globaltvbc.com/google+marks+the+end+of+canadas+penny/6442801661/story.html

http://www.theglobeandmail.com/commentary/the-penny-is-dropped-and-its-the-end-of-life-as-we-know-it/article8148642/

http://metronews.ca/voices/urban-compass-2/535687/r-i-p-canadian-penny-my-two-cents/

http://www.huffingtonpost.ca/mobileweb/2013/02/03/canadian-penny-preservation-canada_n_2612083.html

(weird how the lyrics of a certain Beatles song make multiple mentions of bankers... plus "in his pocket is a portrait of the Queen" [even weirder: a HHGG-themed parody version ])

[Mr. Analog]

I guess it makes cents...

[Thorin]

You know, the nickel is now rather nervous, looking over its shoulder for the hitmen that will be coming for it next.

Also, every company will now drop their prices to x.98, because they'll make two extra pennies that they don't have to report as sales every time they round up.

[Mr. Analog]

Given most people use Interac I doubt it will make anyone rich...

[Darren Dirt]

You know, the nickel is now rather nervous, looking over its shoulder for the hitmen that will be coming for it next.

Also, every company will now drop their prices to x.98, because they'll make two extra pennies that they don't have to report as sales every time they round up.

my gut instinct (based on math, without actually doing the math) says "it depends on what the 'x' is -- because of GST.)

1.98*1.05 = $2.079, rounded to $2.08 = rounded up to $2.10
2.98*1.05 = $3.129, rounded to $3.13 = rounded up to $3.15
3.98*1.05 = $4.179, rounded to $4.18 = rounded up to $4.20
4.98*1.05 = $5.229, rounded to $5.23 = rounded up to $5.23
5.98*1.05 = $6.279, rounded to $6.28 = rounded up to $6.28
... 

http://www.google.com/search?q=what+witchcraft+is+this&tbm=isch

[Thorin]

There are still large numbers of people who use cash.  It is much easier to keep yourself from spending too much if you take out a set amount of cash every week and use that.  When the cash in your pocket is gone, you can't spend any more (and don't get any more out of the bank until next week).

I agree that this won't make anyone significantly rich, it'll be more than a rounding error but probably less than a half percent increase in till cash.

[Darren Dirt]

No matter what the feds do, they can't stop Whyte Ave weekend drunks from haphazardly "spending pennies"!

[Mr. Analog]

Instant flashbacks of "Are You Being Served?" on PBS haha

[Lazybones]

News segment I watched had several retailers already stating they would always round down, and some restaurants with tax included pricing changing their menu to end in 5 or 0 cents.