My dad went to Australia and he told me nothing is priced in cents (only multiples of 5 cents.) What happened to the 1 cent coin??? tell me the whole story.
is $9.99 still there in australia?
2007-05-21 16:54:40 · 9 answers · asked by Anonymous in Travel ➔ Australia ➔ Other - Australia
does credit card still get charged in cents? 9.99, 10.71?
when they got rid of 1 cent pieces did most australians agree???
2007-05-21 17:29:13 · update #1
so if the total transaction is 1,2,6 do SOME people use cash on purpose to save money (rounding down) and if the total is 3,4,8,9 use credit card to prevent rounding up? do some people do this?
DOES ROUNDING UP AND DOWN COME OUT 50/50?
2007-05-21 19:28:42 · update #2
Australian pennies were changed to Australian dollars 14 Feb 1966 12 pennies made a shilling and one shilling was converted to 10 cents. 6 pennies was converted to 5 cents.
Because of inflation it was found the 1 cent and 2 cent coins weren't used that much so the gov't dropped them and now the lowest coin is 5 cents. It happened years ago and until recently you could still bank these odd coins but now they're not legal tender.
$9.99 is advertised as such but everyone knows it's really $10.00 cash but if you charge the amount it is charged as $9.99.
Advertisers like putting .99cents as the price because it looks cheaper than putting $10.00. It's an advertising ploy.
when buying items of odd amounts when the bill is collated the amounts are rounded up or down . 1,2 down ,3 4 cents rounded up to 5c. 6,7cents rounded down and 8,9 cents rounded up. It sort of balances out in the end.
2007-05-24 12:22:11 · answer #1 · answered by i love my garden 5 · 0⤊ 0⤋
How could you properly pay for things without a 5 cent coin? If you still have 25 cent coins then there will still be payments owed occasionally ending in a 5. To be able to pay for them in exact change, or give change back you would need the five cent coins. You are better off considering removing an entire decimal place from currency. Noone uses half cents any more, maybe it's time to get rid of single cents altogether and just deal in tenths of a dollar. You could get rid of quarters and nickels and keep dimes and 50 cent pieces. With as much as things cost, it would be a very economical thing to do.
2016-04-01 01:46:18 · answer #2 · answered by Beverly 4 · 0⤊ 0⤋
Credit and debit cards get charged to the exact cent and interest on bank acoounts is to the exact cent. It is only when using cash that rounding up or down occurs. Rounding only occurs at the end of the transaction so if you shop in a supermarket, many items will be charged with prices ending in any number of cents. When the total is added, the final price is rounded if you pay in cash or charged exactly if you use a card.
No-one misses the old one and two cent coins. By the way, the coins were never called pennies in Australia. We had real pennies in the pre-decimal system and the name didn't transfer from the old to the new system.
2007-05-21 18:58:14 · answer #3 · answered by tentofield 7 · 4⤊ 1⤋
The one cent coin was taken out of circulation in 1992 along with the two cent coin. Unfortunately places still price things like $9.99 but it is all rounded to the nearest 5c.
2007-05-21 17:11:54 · answer #4 · answered by ardnassac 3 · 1⤊ 1⤋
Yes prices are still $9.99 or 97c etc.. it is rounded down or up to the nearest 5 cents.
NZ and Australia gave up their 1 and 2 cents coins 10+ years ago.
The last one cent coins were dated 1990 and the last two cent coins were dated 1989. They were progressively removed from circulation starting in 1992.
2007-05-21 17:08:48 · answer #5 · answered by • Koala • uʍop ɹǝpun 7 · 3⤊ 1⤋
And in New Zealand, we've just ditched the 5c coin too. Electronic transactions continue to be for the exact amount, though standard postage is about to increase from 45c to 50c, as NZ Post was getting too many complaints from people charged 50c cash for a 45c stamp! Most people just pay with whatever method they were going to before they knew the purchase total - I don't think many can be bothered choosing between EFTPOS and cash right there at the till.
2007-05-22 12:41:26 · answer #6 · answered by ~jve~ 3 · 0⤊ 1⤋
lol yes we have things priced at $10.99 witch rounded will cost you $11.00 out 1 and 2 cents were taken out years ago.
if some thing cos $1.46 you get charged $1.45 is ronded up or down to the nearest
2007-05-21 17:05:18 · answer #7 · answered by fanta 5 · 1⤊ 0⤋
The final price is rounded. If you buy 5 items each priced at $9.99 the price you will be charged is $49.95 and there will be no rounding.
2007-05-21 17:49:27 · answer #8 · answered by iansand 7 · 1⤊ 1⤋
gee and I havent got any cents (sense) left.......
2007-05-21 17:44:28 · answer #9 · answered by redgypsywine 3 · 2⤊ 1⤋