Good, we should have done this 20 years ago.
this post was submitted on 22 May 2025
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Death to nickels!
The problem is you can't get rid of nickles without getting rid of either quarters or dimes too. Without nickles you would have a denomination (25c) that has no way to be made by lower coins (10c dimes can't equal 25c). So you either need to get rid of every coin, every coin except the quarter, or nuke the quarter and nickle concurrently and only use dimes, forcing prices to be multiples of 10.
Why do you need to be able to make every denomination from every other one?
Its just awkward if something costs 1.15 and you just have a dollar and two dimes. No way to make change for that despite it can be summed from coins (3 quarters 4 dimes) so it will for sure occur in a real world situation where nickels are gone.
Imo a funnier (unrealistic) solution would be to just change the value of the dime to 12.5 cents.
That isn't the specific problem. The problem is that you need a way to make up the difference between them. Example: If someone pays $1.00 for something that costs $0.35, how do you make change without a .05 denomination?
It's the same issue with the penny, you round up or round down.
If you have no penny, when taxes on your item make the total equal to $5.03, you pay $5.05. if the total is $5.02 you pay $5.00.
Businesses will round up in both cases
When I was implementing penny-rounding for Canada in Point-of-Sale software, I was told we were legally required to round in a specific way.
I would imagine the U.S. probably will do something similar. Tho, we might follow the model of some of the other countries that have eliminated their pennies. Executive orders are a poor way to cover all the knock-on issues that some with eliminating the penny.
Turn the dime into 12.5 cents.
Bring back the bit!
The more I think about it, the more I like it:
- Eliminate the Penny, Nickel, and Dime
- Bring back Old West nomenclature
- IT'S AMERICAN AS FUCK!
- Will drive the metric nerds absolutely batshit. "Of course we have an eighth* of a dollar, why would we use decimal?!"
* I think just the spelling of eighth will spin eurotrash into a tizzy
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Agreed, why just the penny, eliminate the whole decimal place.
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Canada got rid of the penny 12 years ago. Hardly raised an eyebrow.
Probably cause Canadians aren’t weird about their currency.
All Canadian bills keep getting redesigned.
one time they made the 10$ bill vertical and no one gave a shit
And they put a black woman on it. Ooooooo scary!
I love the vertical $10 bill.
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frankly they might aswell cut the 5 cent piece too while theyre at it.
Make a 20¢ piece instead of the quarter and everything can go to the nearest 10¢. Then eventually we can get rid of the dime too and everything can go to the nearest 20¢.
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So is this one of those things where Americans do the common sense thing and agree?
Or is this the another classic case of a few very loud and emotional Americans screaming with passion and zero logic?
Or is it one of those situations where everything seems to go smoothly. And then you figure out that they didn't add the correct rounding regulations, so you'll be paying a little extra on every single transaction the store puts at .96?
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The one good executive order to come out of that bag of puss
If only he did it properly. The better way to do it would have been via Congress.
Canada has a law that allows cashiers to round up or down. Without this, the US is only making a penny shortage, and you better believe customers will be screaming at cashiers for “stealing their money” if they don’t get their cent back, or shrieking “it’s legal tender!” if cashiers don’t accept their Pennies.
IIRC, Canada had at least some period of time where while change provided was rounded to the nearest nickel, the penny was still legal tender. (Prices / totals were not rounded; non-cash payments were still denominated / accurate to the penny.)
And, yes, it would be better to get congress and the executive together and have an actual plan for discontinuing the penny and the nickel (and maybe the dime or quarter?). I think on this issue, the executive acting alone is better than doing nothing / maintaining the status quo.
Cool. Do the dollar bill next. Go buck and doublebuck coin like Canadia did.
If I can't buy a gallon of milk or gasoline with it, it should be a coin.
US slowly working its way to a Japan style monetary system where the fractional unit ceases to be used as the buying power of the main unit dwindles.
Did you know Japan had a coin called 'sen' which was 1/100 of a yen? They aren't made anymore. They'd be near useless if they were because a cup of ramen is ~¥200, or 20000 sen. Although, it would be pretty funny in a show to see some ancient Japanese guy paying for his lunch with his sen collection while some uptight salaryman loses his mind in line behind him.
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Better late than never. While the momentum is here, get rid of the nickel too.
So what happens when someone pays cash at the supermarket? Who rounds up?
I saw an interview with an economist years ago where he said that if we just followed the accepted rules of rounding (1-4 rounds to 0, 5-10 rounds to 10) then it would work out about the same. In reality I’m sure companies would just pocket the extra money
They already do with sales tax. ( If the tax works out to a fraction of a cent, almost every register or POS system will round up...it's a tiny amount per transaction, but it does happen and adds up over daily, weekly and monthly transactions)
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