What’s is the POINT in 1p coins uk??????

[WolfLoverPro]

Useless 

worth nothing 

what’s the point!!!

[IkeaGnome]

If you buy something worth 96 pence, how will you get change? Or 97, 98 or 99?

[Andreas Lilja]

Canada eliminated the cent a while ago.

 

Everything is rounded except card payments.

[TetraSky]

1 hour ago, Voluspa said:

If you buy something worth 96 pence, how will you get change? Or 97, 98 or 99?

Round up or down. You either pay 2 cent extra on your entire shopping list or the merchant loses 2 cent. It's chump change. It also doesn't affect card payments (Which is what most people should be using/preferring these days anyway).

[dalekphalm]

1 hour ago, Andreas Lilja said:

Canada eliminated the cent a while ago.

 

Everything is rounded except card payments.

To be clear, Canada stopped issuing the Penny, and slowly started pulling them from circulation. You occasionally still come across them but very rarely.

 

The cent - a value of $0.01 CAD - still exists in Canada of course. There is just no longer a coin denomination of that value.

 

2 hours ago, WolfLoverPro said:

Useless 

worth nothing 

what’s the point!!!

It's not worth nothing. It's worth $0.01 GBP. Is that a lot? No. Not anymore.

 

And most likely it actually costs the UK more to manufacture a One Pence coin than it's actually worth. That happened to Canada and the US some time ago, and Canada recently phased out the Penny coin.

 

It can cause a bit of a shock at first, but it's actually incredibly easy to phase it out. You simply round to the nearest 5 pence when dealing with cash.

 

Also, question for UK folks, do you guys seriously still have Two Pence and Twenty Pence coins? According to wikipedia, they're still legal tender still in active circulation.

 

If I were the UK, I'd drop the 1p, 2p, and 20p coins from circulation. The 2p and 20p are already redundant, and the 1p could be phased out with rounding. Phasing out the 50p coin would also likely be very easy to do.

[Shreyas1]

2 hours ago, Voluspa said:

If you buy something worth 96 pence, how will you get change? Or 97, 98 or 99?

I mean nothing would cost 96 pence in that case, it would either be 95 or 100

[YellowJersey]

In Canada, we got rid of the penny years ago. For cash transactions, you simply round to the nearest five cents.

[Monkey Dust]

Getting rid of them was proposed, alone with the 2p, but some people had a meltdown. Fun fact the 1p piece is worth less now than the 1/2p piece was when that was pulled.

 

I guess it won't belong before the generation who are so firmly attached to it are gone. I'm not sure cash in general has long to go, at least in the UK. 

[Gix7Fifty]

The U.S. spends 1.5 cents to make a penny! Doh!

[straight_stewie]

It's point is oh one seems like.

[TheRandomness]

- I was going to lock the thread but, as there has already been a decent discussion, I'll leave it open. But for future reference: Stuff like this is Status Update material, so please keep it to that.

[Dedayog]

On 7/20/2020 at 7:38 PM, WolfLoverPro said:

Useless 

worth nothing 

what’s the point!!!

How is this even an issue, most pay with credit, debit, transfer (bank, paypal clones, etc)?

 

It's not worth nothing, it has a very specific and quantitative worth.

 

The point is that it was very useful in previous generations and has no real benefit to taking out. it's a political decision, a talking point for politicians, nothing more.

 

Like images on stamps or on the coins themselves.  Now those are worthless, except for collectors.

 

Tho I really appreciate your well thought out topic and post Strong work.

[NineEyeRon]

We can all ditch rounding to the nearest if we just move on from physical cash but that is a long way away yet.

 

So in the meantime rounding up to the nearest £0.05 would be best buy for some people that could cost them £££ every year! I say the extra cash should be added to a grant fund for charities, we could end homelessness, support food banks and so much more with it. 
 

Rounding to the nearest £0.02 is more reasonable but doesn’t have as big effect, which is both good and bad.

[Lord Vile]

2 hours ago, NineEyeRon said:

We can all ditch rounding to the nearest if we just move on from physical cash but that is a long way away yet.

 

So in the meantime rounding up to the nearest £0.05 would be best buy for some people that could cost them £££ every year! I say the extra cash should be added to a grant fund for charities, we could end homelessness, support food banks and so much more with it. 
 

Rounding to the nearest £0.02 is more reasonable but doesn’t have as big effect, which is both good and bad.

And what about people who are just making it to the end of the month? I do not want to pay 4p more for something especially when you already have to pay extra for a bag and the sugar tax has been introduced. Maybe the government should cut MPs wages and be more stringent with expenses. Knock them down to 40K a year and you save 26,000,000 a year. 

[RejZoR]

The 39.99 or 39.90 prices bullshit needs to die already. We are at a point where even consumers are rounding it up themselves. If TV is 899€, 899,90€ or 899,99€ they'll round it to 900€ themselves. A lot of people do it even for 890€. Hell, even I do the rounding myself for a while. So, what's the point of stores still pushing this garbage? It's so freaking annoying and inconvenient and doesn't serve any purpose except fooling those 3 idiots that 899€ is 800€ and not 900€ because the first digit is smaller. Somehow. Coz it ain't smaller at the checkout, so what's the purpose? It's not like veryone just says oh well it's only 99€ more, that's nothing and I'll take it anyway for no good reason. Ridiculous.

[TehDwonz]

18 minutes ago, RejZoR said:

The 39.99 or 39.90 prices bullshit needs to die already. We are at a point where even consumers are rounding it up themselves. If TV is 899€, 899,90€ or 899,99€ they'll round it to 900€ themselves. A lot of people do it even for 890€. Hell, even I do the rounding myself for a while. So, what's the point of stores still pushing this garbage? It's so freaking annoying and inconvenient and doesn't serve any purpose except fooling those 3 idiots that 899€ is 800€ and not 900€ because the first digit is smaller. Somehow. Coz it ain't smaller at the checkout, so what's the purpose? It's not like veryone just says oh well it's only 99€ more, that's nothing and I'll take it anyway for no good reason. Ridiculous.

You misunderstand the point of the "39.99" pricing in the modern era. If you filter products on a website to "under 40", it's going to show up. 40 likely gets filtered.
You're saying that 39.99 becomes 40.00 at the checkout? Or are you volunteering that extra? Seems like a foolish thing to do, as that's quite the profit for the vendor you're paying overall after a 100K customers do the same thing. Businesses are a charity now?

[Teddy07]

On 7/21/2020 at 3:15 AM, Andreas Lilja said:

Canada eliminated the cent a while ago.

 

Everything is rounded except card payments.

Good way for companies to scam customers by abusing the rounding. A few additional cents per item is huge

[NineEyeRon]

44 minutes ago, Lord Vile said:

And what about people who are just making it to the end of the month? I do not want to pay 4p more for something especially when you already have to pay extra for a bag and the sugar tax has been introduced. Maybe the government should cut MPs wages and be more stringent with expenses. Knock them down to 40K a year and you save 26,000,000 a year. 

I addressed that in my post, it could cost over a hundred pounds per household every year! Say you make 200 purchase a week that could be near £500 a year!

 

It is a tricky issue and what is good for one group will be harsh on another.

[RejZoR]

10 minutes ago, TehDwonz said:

You misunderstand the point of the "39.99" pricing in the modern era. If you filter products on a website to "under 40", it's going to show up. 40 likely gets filtered.
You're saying that 39.99 becomes 40.00 at the checkout? Or are you volunteering that extra? Seems like a foolish thing to do, as that's quite the profit for the vendor you're paying overall after a 100K customers do the same thing. Businesses are a charity now?

 

Because "Under 40" somehow shouldn't also include 40 too. And "Under 50" shouldn't also include 50. And Under 60" shouldn't include 60. Big brains!

 

Oh wow, I'm making such life changing savings because store is so good to me it's giving me 1 cent discount on everything! Just till they markup the price from 39.99€ to 49.99€ on that same item, but I'm saving a cent yo! Much savings! The more you buy, the more you save! 1 cent on every purchase.

 

Just when we changed currency from Slovenian Tolars to Euro everyone jacked up all prices 200%. But good to know I'm saving a cent on every purchase nowadays. They can round it up at my expense for all I care, they'll do it anyway in 10€ increment and keep the dumb 99 thing ending up being 49.99€ instead of 39.99€. And what have you done then? Saved 1 cent but paying 10€ more. It's irrelevant.

 

Shows how disconnected marketing people are with this nonsense still thinking people perceive it as lower price because of that one cent or that one euro so it's not a round number. It's ridiculous and nothing else.

[The Torrent]

On 7/21/2020 at 12:38 AM, WolfLoverPro said:

Useless 

worth nothing 

what’s the point!!!

We can throw them at people.

 

it allows when’s stuff costs 99p u ask them for the penny and they go I don’t have it then u say ok gimme 2 pennies then they u watch them go get the pennies lul.

 

cool noise when u throw them on the floor.

 

get loads and get them to jingle in ur pockets.

 

act like ur putting loads of money into donation boxes when it’s pennies.

 

the possibilities are endless.

 

 

but seriously, if there was no penny coins how would you pay for 99p stuff? And that’s a marketing technique which I shouldn’t need to explain before you say ‘just make everything a quid’.

[TehDwonz]

1 minute ago, RejZoR said:

Because "Under 40" somehow shouldn't also include 40 too. And "Under 50" shouldn't also include 50. And Under 60" shouldn't include 60. Big brains!

 

Oh wow, I'm making such life changing savings because store is so good to me it's giving me 1 cent discount on everything! Just till they markup the price from 39.99€ to 49.99€ on that same item, but I'm saving a cent yo! Much savings! The more you buy, the more you save! 1 cent on every purchase.

You seem to ignore the point about it showing up at certain price points? It's got nothing to do with saving you 0.01, or conning you. Some places don't include "50" in "under 50".

[The Torrent]

49 minutes ago, RejZoR said:

The 39.99 or 39.90 prices bullshit needs to die already. We are at a point where even consumers are rounding it up themselves. If TV is 899€, 899,90€ or 899,99€ they'll round it to 900€ themselves. A lot of people do it even for 890€. Hell, even I do the rounding myself for a while. So, what's the point of stores still pushing this garbage? It's so freaking annoying and inconvenient and doesn't serve any purpose except fooling those 3 idiots that 899€ is 800€ and not 900€ because the first digit is smaller. Somehow. Coz it ain't smaller at the checkout, so what's the purpose? It's not like veryone just says oh well it's only 99€ more, that's nothing and I'll take it anyway for no good reason. Ridiculous.

If u wanna give me a penny for every 99p purchase I do or a quid for every £99 I’m not gonna stop you

 

my discord is in my profile hit me up I’ll send you my PayPal.

[RejZoR]

4 minutes ago, The Torrent said:

If u wanna give me a penny for every 99p purchase I do or a quid for every £99 I’m not gonna stop you

 

my discord is in my profile hit me up I’ll send you my PayPal.

Now I know why they are doing these price because I was underestimating the intelligence of consumers as evident from your post. If you in all honesty believe everyone gives you 1c or 1€ discount because they really give a s**t about you, then this perfectly explains why we still have these moronic 99 thing prices and no nice round ones. Because you seem to think you're saving. Oh boy...

 

@TehDwonz

And they created this solely because of these stupid 99 something prices. They'd be forced to change it and also include the upper limit value inside the "Up to" bracket. So that "Up to 50" would also include 50. And not only 49.99.

In the end it's their loss. If I'm willing to pay up to 50€ for something, not showing me a 50€ item means they are losing 1€ or 1c on every item. If I'm basing the logic on the guy above...

[The Torrent]

1 minute ago, RejZoR said:

Now I know why they are doing these price because I was underestimating the intelligence of consumers as evident from your post. If you in all honesty believe everyone gives you 1c or 1€ discount because they really give a s**t about you, then this perfectly explains why we still have these moronic 99 thing prices and no nice round ones. Because you seem to think you're saving. Oh boy...

 

@TehDwonz

And they created this solely because of these stupid 99 something prices. They'd be forced to change it and also include the upper limit value inside the "Up to" bracket. So that "Up to 50" would also include 50. And not only 49.99.

In the end it's their loss. If I'm willing to pay up to 50€ for something, not showing me a 50€ item means they are losing 1€ or 1c on every item. If I'm basing the logic on the guy above...

not at all.

 

its the old technique of it seems a smaller number 799 compared to 800. possibly slight but existent subconcious number.

 

Nope i dont think the £1 discount is because they care about me looool, what my point was simply a joke on what someone said earlier about how they should *increase* the prices.

[TehDwonz]

1 minute ago, The Torrent said:

not at all.

 

its the old technique of it seems a smaller number 799 compared to 800. possibly slight but existent subconcious number.

 

Nope i dont think the £1 discount is because they care about me looool, what my point was simply a joke on what someone said earlier about how they should *increase* the prices.

...and in a thread about ditching the 1p coin because we pay digitally... why does it even matter? Is seeing ".99" that triggering to some people?