The demise of the penny is most likely going to cause a financial burden on the consumer. The government decided to eliminate minting the penny, as the metal and labor used in the coin exceeded the value of the coin. The solution? Rounding to the nearest nickel. Problem solved!
Well, the problem may be solved for the retailer (who most likely will round up) but not for the consumer. (Remember, a penny saved is a penny earned.)
Here is a suggestion to try to keep things fair. Have the system set to alternate from rounding up to rounding down for every other transaction. This would give the consumer a 50-50 chance and, on average, ought to allow the consumer and the retailer to “break even.”
I would think that in today’s system of computerized “retailing,” this would be fairly easy to implement.
A penny for your thoughts.
George Silowash
Penn Township, Westmoreland County