Showing 2 ideas for tag "penny and dollar coins"

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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National Archives and Records Administration

Saving money on US coinage

The cost to make a penny coin today exceeds one cent, so the US govt is losing money on every penny it makes. Coordinate a coinage change to elminate the penny and the paper dollar bill. This will lead to universal use of the dollar coin which lasts longer than a paper dollar bill. This will result in savings on printing dollar bills. All cash registers would still have the right number of compartments for current coins... more »

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