Seeing compulsive $xx.99 marketers adapt to pennylessness could be amusing.
> Even if the Mint has to make only 850,000 additional nickels in 2025 to meet demand, that would wipe out any savings from eliminating the penny. If the Mint goes back up to making 1.4 million nickels a year, that would cost $78 million more than any savings from the pennies it stopped producing.
How much does this save the government as a percentage of total spending?
How much will this cost the government vs. how much it saves?
How much will this cost businesses in the US in total compared to the amount saved by the government?
How much will this increase costs to consumers, given that businesses will (barring legislation) inevitably round up to the nearest $0.05?
It's not even worth your time to pick up a penny off the ground.
What’s your calculation?
The costs aren’t zero. Businesses will need to re-tool. Consumers will spend more because purchases will be rounded up to the nearest nickel.
What’s going to offset those costs?
duxup•8mo ago