Steel Your Resolve

Dave Killion — December 31, 2010

I always love a good New Year’s resolution, although I don’t like them to be too challenging.  Last year I promised to put on a little weight and lose some more hair.  Having successfully cleared those hurdles, I have decided to raise the bar a bit.  This year, I’m taking down the penny.  It costs 1.5¢ to make a penny, which means they’re expensive.  That isn’t bad in and of itself, but since hardly anyone wants to be bothered to pay in exact change, a bunch of money is being lost every year just so merchants can give us change at a level of accuracy most of us couldn’t care less about.  See where I’m going with this?  The penny needs to go, and I need a resolution?  That’s right… I’m boycotting the penny.  Join me, and soon the government will get the message and quit wasting our money.  Hopeless, you say?  We’re already part way there.  So, the next time you buy something and the clerk is grabbing coins out of the till, I hope you will be like me and say, “No pennies, please.”

Comments

CodeSlinger says

Dave:

Every single time they don’t give you exact change, cashiers always round the change DOWN, that is, in their employer’s favour. If they don’t, their till may be short at the end of the day, and they will have to make up the difference out of their own pockets. If their till is over, they don’t get to keep the overage.

Over time, it costs you money. This money goes to the employers as unearned profit. The government neither hears about it nor cares. So your plan amounts to pointless self-sacrifice.

Therefore, I will continue to expect exact change.

— January 8, 2011

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