Do you think it's time to take the penny out of circulation? Why or why not?!
Question:
Do you think it's time to take the penny out of circulation? Why or why not?
Answers:
Let's say you take the penny out of circulation.....Instead of being able to sell something at 96, 97, 98, 99 cents you have to sell it at either 95 cents or a buck. If you were to sell a MILLION Cokes for 95 cents rather than 98 cents......Do the math....THATS A LOT OF MONEY!!
1 mil at .95 = 950,000
1 mil at .98 = 980,000
Imagine how those pennies add up when it comes to gasoline sales? Have you EVER seen a flat rate for gas? Nope It's always 2.02 PLUS 9/10 a cent. Might not mean much to you but when you do 10 million transactions.....Yeah that matters a lot!