Notice our names for US coins? 0

[RWB]

We have a dollar, half dollar, quarter dollar, and dime ....What happened to "tenth dollar?"

Edited October 28, 2021 by RWB

[DWLange]

I have only nine dollars right now. I'll let you know when I get the tenth one...

[Mohawk]

We're also lacking the hundredth dollar and the twentieth dollar.  Though we should probably retire both of those, honestly, regardless of what they're called.  Here's hoping that statement isn't opening another Pandora's Box.......

[Just Bob]

On 10/28/2021 at 3:00 PM, RWB said:

What happened to "tenth dollar?"

It went to France, where it was renamed "Disme."

[zadok]

On 10/28/2021 at 5:41 PM, Just Bob said:

It went to France, where it was renamed "Disme."

...yea my kids went there to Disme World.....

...tenth, tithe, decimus, disme, dime...so clear its almost opaque.....

[zadok]

...personally i liked the "quint" better, was going to collect those but Dave Lange told me that the whitman holder for "quints" is difficult to find.....

[Hoghead515]

On 10/28/2021 at 5:35 PM, Mohawk said:

We're also lacking the hundredth dollar and the twentieth dollar.  Though we should probably retire both of those, honestly, regardless of what they're called.  Here's hoping that statement isn't opening another Pandora's Box.......

I would be happy if they rounded everything to the nearest quarter dollar. Or at least get rid of those pesky cents. The nearest nickle would be fine with me. 

[RWB]

On 10/28/2021 at 8:28 PM, Hoghead515 said:

I would be happy if they rounded everything to the nearest quarter dollar. Or at least get rid of those pesky cents. The nearest nickle would be fine with me. 

Millions would be saved each year merely by eliminating the one cent and five cent coins. Legislation requiring rounding in cash transactions would mean no one would gain or lose more than 3 cents a year.

[Alex in PA.]

On 10/28/2021 at 8:28 PM, Hoghead515 said:

The nearest nickle would be fine with me. 

You notice how stores place $11.99 on items?  I would be glad if they just said $12.00.

[VKurtB]

On 10/28/2021 at 7:28 PM, Hoghead515 said:

I would be happy if they rounded everything to the nearest quarter dollar. Or at least get rid of those pesky cents. The nearest nickle would be fine with me. 

The only downside is that coin sets look dumb without the cent.  Check out a recent Canadian one. 

[Just Bob]

On 10/29/2021 at 9:27 AM, RWB said:

 Legislation requiring rounding in cash transactions would mean no one would gain or lose more than 3 cents a year.

I don't follow. Can you explain this?

[RWB]

All cash transactions would be rounded up to the nearest 10-cents, or down to the nearest 10-cents. If the total sale was $2.45 (with tax) the customer would pay $2.40; if $2.46 the customer would pay $2.50. Over multiple cash transactions the customer would average a loss of 5-cents over the sum of all. However, some state sales tax systems create a bias toward 0 to 5 ending digits, which skews the customer loss to about 3-cents averaged over all cash transactions nationwide. The merchant ends up with about 8-cents average loss over a year as a result. Te result is that no person will gain or lose for than a few cents - in total - over any longer time period. The argument that this would impact low income people is specious - losing or gaining less than 10-cents over a year is meaningless money.

Further, since this applies only to cash transactions, all other payments are totally unaffected.

With continued reductions in the number of cash transactions, fewer people will be affected over the next decades.

[DWLange]

I hope the U. S. Mint doesn't eliminate the mil. I'd hate to pay $3.28 per gallon of gas instead of $3.279.

[VKurtB]

On 10/30/2021 at 4:37 PM, DWLange said:

I hope the U. S. Mint doesn't eliminate the mil. I'd hate to pay $3.28 per gallon of gas instead of $3.279.

That’s why I keep Palestinian mils on hand. 

[RWB]

On 10/30/2021 at 5:37 PM, DWLange said:

I hope the U. S. Mint doesn't eliminate the mil. I'd hate to pay $3.28 per gallon of gas instead of $3.279.

I usually pay the difference in pocket lint -- although for larger micro-sums, a few places accept clothes dryer lint.