New $10 Bill

[EricNau]

Originally posted by Stampyhead
Whoever said let's get rid of pennies, I wholeheartedly agree. Those little buggers are worthless and just fill up your pockets. I suppose I shouldn't say that, as I live in Arizona and copper is one of our chief exports, but what the heck. We could start making nickles out of copper. But then we'd have to change their name to "coppers"...

Pennies aren't made out of copper anymore. But anyways, if we got rid of pennies, what would people do, Round Everything up? It doesn't sound like much, but it all ads up. Lets say you buy a Starbucks every morning for $2.99+tax. Total (in Sacramento, CA) would be $3.22. Then everyone gets rid of pennies, the price goes up to $3.25 ($.03 more). .03 multiplied by 365 (days in year) would mean you are spending $10.95 extra every year just for your coffee, doesn't sound like much, but now figure that out for everything you buy. It would add up to be Hundreds (if not thousands) of Dollars per year. I think I want to keep pennies.

 

[Stampyhead]

Pennies aren't made out of copper anymore. But anyways, if we got rid of pennies, what would people do, Round Everything up? It doesn't sound like much, but it all ads up. Lets say you buy a Starbucks every morning for $2.99+tax. Total (in Sacramento, CA) would be $3.22. Then everyone gets rid of pennies, the price goes up to $3.25 ($.03 more). .03 multiplied by 365 (days in year) would mean you are spending $10.95 extra every year just for your coffee, doesn't sound like much, but now figure that out for everything you buy. It would add up to be Hundreds (if not thousands) of Dollars per year. I think I want to keep pennies.

Sure, but say $3.22 got rounded down to $3.20, but $$3.23 got rounded up to $3.25. If we alternated between rounding up and rounding down, it would more or less even itself out in the end.

 

[EricNau]

Originally posted by Stampyhead
Sure, but say $3.22 got rounded down to $3.20, but $$3.23 got rounded up to $3.25. If we alternated between rounding up and rounding down, it would more or less even itself out in the end.

Everyone would round up, that's the way people work. (look at tax, if the tax is 7.75% (Sacto, CA) and you buy something for exactly $1.00 if will cost you $1.08

 

[Chundles]

Pennies aren't made out of copper anymore. But anyways, if we got rid of pennies, what would people do, Round Everything up? It doesn't sound like much, but it all ads up. Lets say you buy a Starbucks every morning for $2.99+tax. Total (in Sacramento, CA) would be $3.22. Then everyone gets rid of pennies, the price goes up to $3.25 ($.03 more). .03 multiplied by 365 (days in year) would mean you are spending $10.95 extra every year just for your coffee, doesn't sound like much, but now figure that out for everything you buy. It would add up to be Hundreds (if not thousands) of Dollars per year. I think I want to keep pennies.

Back when I was a wee tacker in the mid eighties, we got rid of 1 and 2 cent coins. Best thing we ever did. Yes, some prices get rounded up and down but none of us really care. Most prices now are in 5 cent increments anyway so it doesn't really matter. What was good was finally freeing our wallets of those ****ing annoying heavy little coins - which, if you've seen the size and weight of our other coins, was a godsend. Now all we need to do is shrink the 20 and 50 cent coins to something not resembling a dinner plate.

Oh, and when are you americans and canadians going to start putting the various taxes into the printed price tags? Don't you find it annoying to read a price tag in a store and have to figure out the real price of the item? Don't you think it would be easier if the price tag on display actually told you how much the item cost?

 

[EricNau]

Originally Posted by Chundles
Back when I was a wee tacker in the mid eighties, we got rid of 1 and 2 cent coins. Best thing we ever did. Yes, some prices get rounded up and down but none of us really care. Most prices now are in 5 cent increments anyway so it doesn't really matter. What was good was finally freeing our wallets of those f*cking annoying heavy little coins - which, if you've seen the size and weight of our other coins, was a godsend. Now all we need to do is shrink the 20 and 50 cent coins to something not resembling a dinner plate.

Oh, and when are you americans and canadians going to start putting the various taxes into the printed price tags? Don't you find it annoying to read a price tag in a store and have to figure out the real price of the item? Don't you think it would be easier if the price tag on display actually told you how much the item cost?

I have been wishing that they would just include tax on the pricetags forever. But I have a feeling the reason why everyone does this is because stores are all trying to have the lowest prices, and keeping the tax off of the price tag is one way of having the "lowest" price. The only way I think we could accomplish "tax on tags" would be to pass a federal law saying stores had to do it.

 

[sluthy]

Australia got rid of 'pennies' (well, 1c and 2c coins) 16 years ago. I remember the phaseout when I was young. We still have the odd couple floating around the bottom of our drawers. All of our checkout prices are rounded to the 5c.

And we also, like Canada, have $1 and $2 coins. Couldn't imagine vending machines and whatnot without them, how do you guys manage? Oh yes, and the term 'greenback' means nothing to us :

(gold coins are all gold, the dark bit is just for illustrational purposes)

 

[EricNau]

Doesn't it drive you crazy that your money is all different sizes, unlike American that are all the same? I could understand different colors, but sizes? Seems like that would make it too hard to hold, find, or do anything with.
It is pretty though.

 

[Chundles]

Doesn't it drive you crazy that your money is all different sizes, unlike American that are all the same? I could understand different colors, but sizes? Seems like that would make it too hard to hold, find, or do anything with.
It is pretty though.

The size difference is not that big, 7mm per incremental increase. It is there so that vision impaired people can recognise the notes too. I hate, HATE how the US money looks and feels the same - it's tough for a tourist to find anything in a wallet filled with notes that are all the same size shape and colour, not to mention dangerous when we have to take out all the money to try and see the denominations.

And no, it's not difficult to hold or find. Why would it be? they're flat sheets of plastic, you just need to grip them.

 

[sluthy]

We don't have quarters either - 5c, 10c, 20c, 50c.

 

[Chundles]

We don't have quarters either - 5c, 10c, 20c, 50c.

And they're Huuuuge!! Well, the 20 and the 50 are.

I have a Canadian 50c piece - it's quite a stunning little coin.

 

[EricNau]

At one point in time I heard American Money was going to pe texturized so the vision impaired could tell the difference. I guess Unc Sam didn't like this idea.

 

[im_to_hyper]

Oh, and when are you americans and canadians going to start putting the various taxes into the printed price tags? Don't you find it annoying to read a price tag in a store and have to figure out the real price of the item? Don't you think it would be easier if the price tag on display actually told you how much the item cost?

I don't think the reason is necessarily stores competing for the lowest prices -- though that could part of the reason. The major reason is that each state has its own tax rate. Some states have tax on clothing. Some don't. Each county within each state sets various tax rates. Some don't. Wisconsin's tax rate is 5%. My city is in Wood County, but some stores are in Marathon county. Marathon County has a .5% additional tax rate. Therefore, if people buy a shirt at Target in Wood Cty for $9.99 and one at Wal-Mart in Marathon Cty for $9.96, they are actually paying more.

And no, don't even suggest the idea of a set nation-wide tax rate. Population differences and density and income levels of people in certain regions all effect the tax rate.

BIG HEAD $1: Still waiting for a response from my money message board for the link.

Just wondering, where is the cashier supposed to put the $2 bills in the cash register?

As a cashier myself, if I get them (Which I occasionally do) I stick them on top of the $100s and re-hand them out as change.

 

[EricNau]

Originally posted by im_to_hyper
As a cashier myself, if I get them (Which I occasionally do) I stick them on top of the $100s and re-hand them out as change.

Oh, I'm crazy I guess, I like keeping them (Assuming of course I would trade it with my own money.)

 

[pknz]

I thought it looked bad. Bad as in bad, not good.

Heh specimens.

 

[Mechcozmo]

Are they giving them away free? Even for just a limited time only?

 

[Chundles]

I don't think the reason is necessarily stores competing for the lowest prices -- though that could part of the reason. The major reason is that each state has its own tax rate. Some states have tax on clothing. Some don't. Each county within each state sets various tax rates. Some don't. Wisconsin's tax rate is 5%. My city is in Wood County, but some stores are in Marathon county. Marathon County has a .5% additional tax rate. Therefore, if people buy a shirt at Target in Wood Cty for $9.99 and one at Wal-Mart in Marathon Cty for $9.96, they are actually paying more.

And no, don't even suggest the idea of a set nation-wide tax rate. Population differences and density and income levels of people in certain regions all effect the tax rate.

BIG HEAD $1: Still waiting for a response from my money message board for the link.



As a cashier myself, if I get them (Which I occasionally do) I stick them on top of the $100s and re-hand them out as change.

So they have a different tax rate. Who cares, they can still have the correct price represented on the price tag. Sorry if this sounds crazy but I just think that when you go shopping, the price posted on the item should be the price you pay. We have a 10% GST on all goods and services (there are no differing state taxes here, they were abolished by the GST) and it is law that the GST is included in all price tags and quotes. It's just easier on the consumer to know exactly what they are paying.

 

[garybUK]

I quite like the designs of the American bank notes but it is hard to tell them apart from each other.

Our B-of-E notes gradually get bigger in size relative to their monetry value and the colours change..... very very easy to tell the difference:
£5 - Blue
£10 - Brown
£20 - Purple
£50 - Orange

I also like our Quid and two Quid coins.

I love the Euro notes, very clean very stylish and they increase in size too.

The downside with Sizes are it gets harder to fit them in your wallet

 

[Doctor Q]

Are they giving them away free? Even for just a limited time only?

Yes, they are having a special deal where you can get a free $10 with the trade-in of an old $10 bill. Void where prohibited. While supplies last.

 

[steve_hill4]

I quite like the designs of the American bank notes but it is hard to tell them apart from each other.

Our B-of-E notes gradually get bigger in size relative to their monetry value and the colours change..... very very easy to tell the difference:
£5 - Blue
£10 - Brown
£20 - Purple
£50 - Orange

I also like our Quid and two Quid coins.

I love the Euro notes, very clean very stylish and they increase in size too.

The downside with Sizes are it gets harder to fit them in your wallet

I prefer the Euro, but one problem at the moment is that some coins are the same size. The 5 and 20 eurocent and the €1 coins are all pretty much the same size and I think the 2 and 10 eurocent are close to each other too. Harder for the older relatives of mine to get to grips with.

 

[EricNau]

Originally posted by Doctor Q
Is it still true that U.S. paper money retains its currency value when pieces are missing, as long as you have more than 50% of the bill?

2/3 of the bill

 

[im_to_hyper]

Having the correct price on the tag is part of the problem. We tend not to view taxes as part of the price. It is almost always viewed as "Uncle Sam's Share" and is generally not used in price comparisons -- at least that is my take from interacting with thousands of customers.

It may be easier on the consumer, but it would be hard on businesses. If someone can go to Joe's Apple Computer Shop and buy an iMac with 7.8% tax, but can then go 10 miles away, cross the county line and pay only 5.5% tax at the Apple Store, why would anyone go to Joe's? They see the price tag and Joe is selling it for more. Now, if tax is not included in the tag, they see $1299 at both places and realize Joe's is a closer drive and will support him instead.

and to ERICNAU: SPEND THOSE TWOS! Don't save them! You are part of the problem as to why they are not seem more often! Circulation is the key, not collection!

So they have a different tax rate. Who cares, they can still have the correct price represented on the price tag. Sorry if this sounds crazy but I just think that when you go shopping, the price posted on the item should be the price you pay. We have a 10% GST on all goods and services (there are no differing state taxes here, they were abolished by the GST) and it is law that the GST is included in all price tags and quotes. It's just easier on the consumer to know exactly what they are paying.

 

[EricNau]

Originally posted by im_to_hyper
and to ERICNAU: SPEND THOSE TWOS! Don't save them! You are part of the problem as to why they are not seem more often! Circulation is the key, not collection!

I only have 5 of them, not like I have a bank load full of them. Twos never had a real purpose. Besides, the gov wanted to get rid of them (notice that is probably why they don't print them any more). Why do we need to circulate them anyways?
If all of the sudden, you were getting lots of twos a day, you would probably start accidentaly handing out hundreds because there isn't a place to put the twos (and you mentioned earlier that you place them ontop of the hundreds).

 

[im_to_hyper]

I only have 5 of them, not like I have a bank load full of them. Twos never had a real purpose. Besides, the gov wanted to get rid of them (notice that is probably why they don't print them any more). Why do we need to circulate them anyways?
If all of the sudden, you were getting hundreds of twos a day, you would probably start accidentaly handing them out with those hundreds you put them on top of.

Well, as you may or may not have noticed in my sig, twos are still being printed. Last printing: 2004 with a 2003 Series date. I don't think that constitutes as being abandoned.

I have a divider between the $100s and the twos. Its actually a cover for the $100s so no one can see how many I have. Speaking of which, I had a lady pay today for a $45 purchase in all $1 coins. Stuck 'em in the far left slot and used them for change. It was pretty fun, actually. Now, after being at work for 12 hours and finally being home, its time to relax.

New $10 bill: our manager announced to us today that they would not be released till 2006, so if we see any, we cannot accept them and we need to report the person since the bill would be obviously counterfeit.

 

[rendezvouscp]

2/3 of the bill

Unless you're absolutely positive, I'm absolutely positive that's it's more than 50%. And, if you cut the bill the right way, you can use both halves.

I'm a fan of Australian money, because I like the feel and variety compared to American money, not to mention that it's nearly indestructible (except to fire I suppose) and is colorful in an artistic way. The see-through portions are pretty cool too.

I've always been puzzled why the AU$2 is the second smallest coin though. Not having a penny didn't really bother me either.

I wish that'd we'd just stick to normal American money that sets us apart from other countries, instead of all the fancy coloring that probably will be figured out anyway.
-Chase

 

[EricNau]

Originally posted by rendezvouscp
Unless you're absolutely positive, I'm absolutely positive that's it's more than 50%. And, if you cut the bill the right way, you can use both halves.

Just called up a former bank employee (no she didn't get fired), and she said atleast 3/4. But I'm not sure, were you talking American or Australian? I'm talking about American.