Quote:
Originally posted by hulkrogan@Jan 20 2005, 03:58 PM
Australia has been penny-less for years, and I think its great. I'd be fine with ditching pennies and nickles actually.
Heres some points discussing it:
http://www.whyfor.com/nocents/nocents.htm
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When I lived there it was sooooo nice not having pockets filled with pennies all the time; It was really, really convenient and is something I wish Canada would adopt. I guess they did all kinds of studies on the pennies and bills, and came to the conclusion that it was cheaper not to produce pennies, and when they rounded up or down depending on the bill amounts, the consumers came out ahead something like 55% of the time.
Their bills were also waterproof (laminated somehow I think) so if they got washed it wouldn't wreck them. They came in all different colours, and the larger denomination bills were longer in length than the smaller ones, which made it pretty easy to organise and count your money.
Way ahead in my mind.