Showing 5 ideas for tag "penny"

Department of the Treasury

Reduce need for Pennies by Price Rounding

Allow stores to round the price of cash purchases to the nearest nickle or dime. Transactions ending in .x1 and .x2 are rounded down to .x0, transactions ending in .x3 and .x4 are rounded to .x5, transactions ending in .x6 and .x7 are rounded to .x5, and transactions ending in .x8 and .x9 are rounded to .x0. This would be used only for CASH purchases, and is applied at the cash registered on the total price of the purchase,... more »

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Department of Homeland Security

Stop Minting Penny and Nickel

Call it the Small Change Act, the most a person would ever have to contribute on a single transaction would be 9 cents.

I once read that the cost of making the penny and nickel, both outweigh the actual value of the coin.

My proposal is similar to what some banks are starting to offer, in a keep the change program.

On all *CASH* purchases, the total price, after sales tax, would be rounded up to the nearest amount,... more »

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