Date: Sat, 23 Sep 2006 22:36:40 -0400
From: Ted White <twhite8 at cox.net>
To: WSFA members <WSFAlist at KeithLynch.net>
Subject: [WSFA] Re: Funny Coins
Reply-To: WSFA members <WSFAlist at KeithLynch.net>

Stan wrote:

>  On Saturday 23 September 2006 1:55 pm, Michael Walsh wrote:
> >> ecfield at comcast.net 9/23/2006 1:59:49 PM >>>
> >>
> >> I'm one of the folks that love the idea of colored bills... but
> >> then again, I also want the mint to stop wasting money on
> >> pennies. Just round ALL deals to the nearest nickle and be done
> >> with it.
 >>
> > I don't think the state would like the idea of rounding down their
> > sales tax take.  5% sales tax on 99 cent item comes to $1.04... or
> > do you want the merchant to donate the difference?
>
>  That's the idea of 'rounding'... If the bill is $1.03 or $1.04, they
>  get a nickle. If it's $1.02 or $1.01, you keep the nickle. It all
>  comes out even in the long run. And the merchant doesn't do it, you
>  do.

It wouldn't work like that.  There would be no "rounding down."  Only
"rounding up."  If it costs $1.01, you'll pay $1.05.

--Ted White