wouldn't it be better if all prices ended in 0 or 5? No more copper coins!?

Question

if two shops are selling the same product, one for £10 and one for £9.99, i'd go for the ten quid one every time

Answer 1

The disadvantage is a rise in prices if they disappeared. There are fears that retailers would round up any items currently priced with an odd pennies at the end as they did with the introduction of decimalisation in Ireland. If this happens in all cases, it will have a significant effect on the retail price index.

Another argument in your favour is the cost of producing them with rising copper prices making coins cost more to produce them than their nominal value. Also they must cause quite a bit of wear and tear on fabrics.
The halfpenny coin was the last denomination to be withdrawn, although coins have been redesigned and new denominations, like the two-pound coin, introduced. There were 2.5bn halfpennies, worth £12.5m, still in circulation when the announcement was made, mostly languishing in collecting jars or behind sofas.
Charities were quick to realise they could cash in on the windfall, and launched national campaigns to encourage people to hand over their unwanted halfpennies. I guess this would be a good way of selling the abolition ofthe odd pennies and tuppences.
For the less charitable perhaps we should follow suit to what America has introduced and Lloyds TSB yesterday where your debit card rounds up purchases to the nearest pound and transfers to a savings account. A great way to get people saving!

Answer 2

The put the £X.99 tag on prices to avoid fraud, apparently. If it's £9.99 the shop assistant has to open the till and give the customer a penny change, rather than just put the tenner in their pocket.

Answer 3

Copper coins were dropped in South Africa, prices there only in with 0 or 5 now. Very convenient. No more wallets full of worthless coins.

Answer 4

I know when the euro came into effect a few years ago, Holland (I think) had done away with the 1c, 2c and 5c coins within 2 weeks, as they were so small. I know when I lived in Dublin they were a major nuisance and you would end up with piles of copper coins.

Answer 5

here all copper coins have been gone for a long time(Australia) but prices still end at 01/02/03/04/06/07/08/09/and the end price is rounded up/down to the nearest 00/05/100 so saves a lot of weight in your pocket(in Miltie purchase it all adds up then is rounded up/down)

Answer 6

In aus they got rid of the coins but still kept the prices so they round your billup to the nearest five at the checkout. That way you don't get copper coins but still get your 23c value tin of beans etc.

Answer 7

I think it's wonderful idea cos copper coins STINK. And they're covered in muck, compare a stinky old one to a shiny orangey one, disgusting.

And you save them up for ages, until finally you can change them at the bank for.... £1..!!!!!!

I have to admit, when I'm tidying up I usually chuck them in the bin, to stop them stinking the place out.

I'd rather use a 99p note

Answer 8

I wouldn't really mind which one i put the 1p in a charity box anyway. It is a bit cheeky though because if your not paying attention you think it's 9 quid not near to a tenner

Answer 9

It would be better, however, what would all the blind little old ladies do that normally hold up all the supermarket queues while they trawl through their bag for the right change?
Its bad enough here in Spain with the old folk still trying to buy things with pesatas!

Answer 10

Roxy, you donut of course they still have to open the till - what a num-nut

Yes it would be great, the only problem is that they would round everything up not down, so most things would be a little bit more expensive.