New UK Coins

yeah obviously all prices would have to change so they ended in either a zero or 5.

and 2p coins are almost as big as 50p coins yet worth only 1/25th the value.

as Neil said, it can work.

and along with the psychological reason for having something at "xx.99", i always thought it was so cashiers had to ring it into the till to get the 1p change, so they couldn't just steal the cash. if something cost £5 and you gave the person a £5 note, if you didn't need a receipt and just walked off, they could just put the note into their pocket. because they have to give you the 1p change, they have to ring it into the till then get the penny out for you.

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RIP Jules, never to be forgotten. #KeepFightingMichael

That sounds about right and more probable knowing people these days !

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"Trulli was slowing down like he wanted to have a picnic" LOL

Muks_C schreef:
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> yeah obviously all prices would have to change so
> they ended in either a zero or 5.


No, they would not. We have had xx.99 prices since I can remeber it and we didn't have 1 and 2 cents with the good ol' guilder and don't have them (anymore) now. Your prices get rounded up at xx.x8 and higher and rounded down at xx.x7 and lower. It really won't be a big difference in total.

really? that seems odd. why not just change the price to a zero or 5, to keep everything accurate?

why price something as 4.97 when you know the customer is only going to give you 4.95?

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RIP Jules, never to be forgotten. #KeepFightingMichael

In Holland we don't buy one item at a time :P So for instance 3x1,99=5,97 -> 5,95.

yes but still you should have paid 5.97, but only paid 5.95. whether you buy only 1 item or many, you are generally going to pay a few cents/pence less than you should.

unless when totals are rounded up they make enough extra cents there to make up for the instances when they have to round down, so all in all it equals itself out over the course of a day.

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RIP Jules, never to be forgotten. #KeepFightingMichael

Muks_C schreef:
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> unless when totals are rounded up they make enough
> extra cents there to make up for the instances
> when they have to round down, so all in all it
> equals itself out over the course of a day.


Yes, that's what I've been trying to explain to you all the time :P

The rounding up and rounding down totals will be more or less equal in the end for both customers and shops.



Edited 1 time(s). Last edit at 04/05/2008 09:50PM by Nickv.

ah right, i never knew this happened!

still, would be easier to just change the prices.

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RIP Jules, never to be forgotten. #KeepFightingMichael

Easier? Maybe. Better? No. People might buy less things, purely for the reasons mentioned. 5.00 sounds more than 4.99. And that's something companies don't want to risk.

We have some stupidly priced products too :P



And the lowest denomination coin we use is 5 cents. We do have 1 cent as well, but is isn't used. Even those 5 cents are usually rounded up or down to 10.

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I'm against sigpics

Nickv Wrote:
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> Easier? Maybe. Better? No. People might buy less
> things, purely for the reasons mentioned. 5.00
> sounds more than 4.99. And that's something
> companies don't want to risk.


they should just make a 4.99 product 4.95. that's sounds like even more of a bargain than 4.99!

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RIP Jules, never to be forgotten. #KeepFightingMichael

Muks_C schreef:
-------------------------------------------------------
> Nickv Wrote:
> --------------------------------------------------
> -----
> > Easier? Maybe. Better? No. People might buy
> less
> > things, purely for the reasons mentioned. 5.00
> > sounds more than 4.99. And that's something
> > companies don't want to risk.
>
>
> they should just make a 4.99 product 4.95. that's
> sounds like even more of a bargain than 4.99!


yes, but 4.99 will be 5, and 4.95 stays 4.95, so they get more profit from 4.99

and don't forget if you pay electronically, eg via Visa or bank card you pay whatever exact price is displayed on the til whether it is $4.97 or $4.95.

Look pretty good I reckon.

I am SO going to get a set of these new coins and make a framed set for the wall.