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Author Topic: US Currency and Price is Right  (Read 2701 times)

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Offline SuperMatch93

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US Currency and Price is Right
« on: August 06, 2012, 12:55:01 PM »
If the US Mint was to stop producing the penny, how would this affect pricing games with grocery products? Since all products would end in 5 or 0, would some games, like Grocery Game, be outright retired for being too easy, or would we see some rule changes?
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Offline Hag

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Re: US Currency and Price is Right
« Reply #1 on: August 06, 2012, 01:05:06 PM »
I'd like to think they'd make rule changes rather than retire a veteran game like Grocery.
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Offline vadernader

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Re: US Currency and Price is Right
« Reply #2 on: August 06, 2012, 01:16:34 PM »
Not that this would happen - but if the U.S. got rid of the $1 bill - Lucky $even would be forced to retire :)

As for GP's, they are easier to work with / make tiny rule changes.
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Offline lucyrickyalex

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Re: US Currency and Price is Right
« Reply #3 on: August 06, 2012, 01:49:22 PM »
Quote from: vadernader on August 06, 2012, 01:16:34 PM
but if the U.S. got rid of the $1 bill - Lucky $even would be forced to retire :)

They couldn't use dollar coins?
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Offline Cyclone

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Re: US Currency and Price is Right
« Reply #4 on: August 06, 2012, 02:23:15 PM »
Canada already retired the penny this year.  For once, America might copy us instead.  I guess they cost 1.5 cents to produce, so they decided it wasn't financially useful.  Even though the very aspect of the penny is that it can be used over and over, making its estimated value worth more than the penny it is worth to one person, unlike the $100 bill that changes hands so much less often.

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Offline Wayoshi

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Re: US Currency and Price is Right
« Reply #5 on: August 06, 2012, 02:24:35 PM »
Wait, the US is seriously considering removing the penny?

What then happens to all the .99 stuff? .95?
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Offline Cyclone

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Re: US Currency and Price is Right
« Reply #6 on: August 06, 2012, 02:29:03 PM »
Quote from: Wayoshi on August 06, 2012, 02:24:35 PM
Wait, the US is seriously considering removing the penny?

What then happens to all the .99 stuff? .95?
0.95 is safe.  0.99 would be rounded to $1.  Expect a lot more perfect bids for such IUFBs and less usage of them because of it.

If the nickel eventually goes, then I truly wonder what will happen.

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Offline Guint

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Re: US Currency and Price is Right
« Reply #7 on: August 06, 2012, 03:06:09 PM »
If the penny goes, yeah, the values would go to the nearest nickel rather than the nearest penny.

But I seriously doubt it will happen anytime soon.
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Offline PriceFanArmadillo

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Re: US Currency and Price is Right
« Reply #8 on: August 06, 2012, 04:24:49 PM »
Quote from: SuperMatch93 on August 06, 2012, 12:55:01 PM
If the US Mint was to stop producing the penny, how would this affect pricing games with grocery products? Since all products would end in 5 or 0, would some games, like Grocery Game, be outright retired for being too easy, or would we see some rule changes?

What difference would it make in Grocery Game whether an item is $2.99 or $3.00?  (Obviously, there's a difference between $3.99 and $4.00, but I don't think one or two exact prices hitting inflection points is going to break the game.)
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Offline PriceFan07

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Re: US Currency and Price is Right
« Reply #9 on: August 06, 2012, 04:46:30 PM »
Canada is getting rid of the penny on February 4th, 2013 (was originally supposed to be in October, but pressure from major retailers forced the gov't to push it back til after the holidays). While we will no longer have the physical one-cent coin, we will still have prices ending in 6, 7, 8 & 9 because the one-cent denomination isn't going away - debit and credit transactions will still be to the cent. Cash transactions will be rounded to the nearest nickel based on the sub-total, not per item.
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Offline vadernader

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Re: US Currency and Price is Right
« Reply #10 on: August 06, 2012, 05:18:35 PM »
Quote from: Cyclone on August 06, 2012, 02:29:03 PM
0.95 is safe.  0.99 would be rounded to $1.  Expect a lot more perfect bids for such IUFBs and less usage of them because of it.

Huh? How does that make any sense? Both $0.95 and $0.99 round up to the nearest dollar, so it would make no difference in IUFB's being perfected.
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"Our dilemma is that we hate change and love it at the same time; what we really want is for things to remain the same but get better." - Sydney J. Harris

“For the premiere of season 30, CBS wanted to do a special primetime show. However, they asked that we also add a gimmick or a twist to make it truly special. I came up with the suggestion of taking the show on the road for the first time in its history." - Roger Dobkowitz

Offline Cyclone

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Re: US Currency and Price is Right
« Reply #11 on: August 06, 2012, 05:34:34 PM »
Quote from: vadernader on August 06, 2012, 05:18:35 PM
Huh? How does that make any sense? Both $0.95 and $0.99 round up to the nearest dollar, so it would make no difference in IUFB's being perfected.

Yes, I didn't clarify.  For items purchased for, say, $699.99, it would round to $700.  However, I do not know if they already do this or just drop the 99 cents.

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Offline JohnHolder

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Re: US Currency and Price is Right
« Reply #12 on: August 06, 2012, 08:03:26 PM »
Quote from: Wayoshi on August 06, 2012, 02:24:35 PM
Wait, the US is seriously considering removing the penny?

What then happens to all the .99 stuff? .95?

They've been discussing it for years. A penny costs more than one cent to produce, so the gov't. actually loses money on each one. The members of Congress from the states where copper and the other metals are mined are the only people keeping the penny alive.
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Offline Guint

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Re: US Currency and Price is Right
« Reply #13 on: August 06, 2012, 08:21:33 PM »
They already changed the penny in 1982 to make it zinc with a copper shell to reduce the cost, only to have it rise again.
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Offline Cyclone

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Re: US Currency and Price is Right
« Reply #14 on: August 06, 2012, 08:26:20 PM »
Quote from: Guint on August 06, 2012, 08:21:33 PM
They already changed the penny in 1982 to make it zinc with a copper shell to reduce the cost, only to have it rise again.

This is logical.  As soon as your metal or mineral becomes the basis for currency, naturally you want more money for its production.

Cyclone
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