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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Jon Koplik who wrote (5144)11/22/2001 1:15:55 AM
From: marcos  Read Replies (1) of 33421
 
In New Zealand when you're buying stuff for total of 14.85 or 15.15 and you hand the cashier a twenty, they hand you back a five and that's that .... none of this petty penny proliferation, they don't use them, you hardly ever see a five-cent piece [they don't call them nickels] or even ten-cent .... i admire that, makes great sense, it all rounds out even when it goes both ways, and it does go both ways, they have as a people risen above whatever it is that makes say a canadian expect to receive those useless coppers

Same in México to great extent, although it depends where you are ... of course in both places this is aided by the GST and IVA being wrapped into the price instead of added on later as they with canadian GST

Much cheaper to make one- and two-dollar coins and phase out the paper, the coins last for years ... at the same time phase out the penny and the nickel, so there are the same number of coin denominations ... far more practical
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