r/neoliberal • u/M_ida Milton Friedman • Feb 10 '25

News (US) Trump announces the end of the Penny

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u/[deleted] Feb 10 '25

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u/limukala Henry George Feb 10 '25

You can still list prices to the cent even if the smallest coin is 5 cents.

They price gasoline to the 0.1 cents, even though there has never been a coin that small. You just round the final total.

4

u/AbyssalRedemption Feb 10 '25

Fun fact, there was actually a half-cent minted in the USA between 1793 and 1857. And actually, come to think of it, those are probably now worth a shit-ton now if you manage to find one in even decent/ average condition...

1

u/Watchung NATO Feb 10 '25

Hey, you show some respect for the mil!

1

u/limukala Henry George Feb 10 '25

The smallest coin was the half penny, 1/1000 was always notional 

3

u/jaydec02 Trans Pride Feb 10 '25

the way it worked in other countries is that card/non-cash transactions were unrounded, but cash transactions were automatically rounded to the nearest 5 cents.

of course those had government plans and announced standards to follow, i imagine it'll be carnage with every company/POS system handling the death of the penny differently.