Paying with pennies
Thread Starter
Registered User
Joined: Nov 2010
Posts: 587
From: $acto
Car Info: 90 325is
Paying with pennies
I dont feel like the punishment fits the "crime"
http://news.yahoo.com/s/yblog_upshot...fee-in-pennies
http://news.yahoo.com/s/yblog_upshot...fee-in-pennies
Churro Aficionado
iTrader: (38)
Joined: Feb 2008
Posts: 54,661
From: IG - @thomas.teammoist
Car Info: IG - @TEAMMOISTOFFICIAL
Thats BS. Its legal tendar.
I dont think he needed to dump them all over the counter.. but other than that, stupid
EDIT: Theres another thread (with a vid in it) of some kid trying to get his car out of an impound lot and paid with like 6000 pennies or something like that. Cops were called and they cops made the place take them as payment.
I dont think he needed to dump them all over the counter.. but other than that, stupid
EDIT: Theres another thread (with a vid in it) of some kid trying to get his car out of an impound lot and paid with like 6000 pennies or something like that. Cops were called and they cops made the place take them as payment.
Churro Aficionado
iTrader: (38)
Joined: Feb 2008
Posts: 54,661
From: IG - @thomas.teammoist
Car Info: IG - @TEAMMOISTOFFICIAL
One of the bike shops I used to work at recently banned pennies and is now rounding all transactions down to the nickel. Here is their post and justification.
http://mikesbikes.com/about/pennies-...m?Affiliate=83
http://mikesbikes.com/about/pennies-...m?Affiliate=83
The world we live in is the world we ride in. To help take good care of it, we have decided to eliminate pennies from our stores.
For all cash transactions where pennies would have been used, we will be rounding down in favor of the customer to the nearest nickel. You might wonder why we might want to do this? The answer is simple, it's good for the environment and good for business:
Making pennies wastes natural resources & is toxic to people and the environment - Pennies are 3% copper, and 97% zinc and are primarily made from virgin ore. Making pennies from zinc means and copper means mining for those materials. Red Dog Mine, which is the largest zinc mine in the US is by far the #1 polluter on the EPA's list, because of large quantities of heavy-metal and lead rich mining tailings. The process of refining both metals can release sulfur dioxide (SO2), lead and zinc into the environment.
Making pennies wastes taxpayer money - As of 2010, it cost 1.79 cents to make each 1 cent coin, meaning that taxpayers lost 0.79 of a cent for each of the 4 billion pennies the Mint produced that year; which represents a $32 million loss in 2010.
Rounding down won't raise prices - At Mike's Bikes, all transactions will be rounded in favor of the customer, so they will essentially function like a 1-4 cent discount on all cash transactions. Economists also have proved that eliminating the penny won't affect prices; we believe that the savings to the environment and the economy will more than compensate for the risk of any possible jump in prices.
Pennies waste time and money - The average American wastes 12 hours a year handling pennies. The National Association of Convenience Stores and Wallgreens estimate that handling pennies adds 2 to 2.5 seconds per cash transaction. By eliminating pennies, Mike's Bikes will save over $5K a year; rounding up to the customer's benefit allows us to share this saving with our customers.
Pennies are worth less than CA minimum wage - pennies are so worthless now that it doesn't even pay the California Minimum Wage of $8/hour to pick them up off the street.
For all cash transactions where pennies would have been used, we will be rounding down in favor of the customer to the nearest nickel. You might wonder why we might want to do this? The answer is simple, it's good for the environment and good for business:
Making pennies wastes natural resources & is toxic to people and the environment - Pennies are 3% copper, and 97% zinc and are primarily made from virgin ore. Making pennies from zinc means and copper means mining for those materials. Red Dog Mine, which is the largest zinc mine in the US is by far the #1 polluter on the EPA's list, because of large quantities of heavy-metal and lead rich mining tailings. The process of refining both metals can release sulfur dioxide (SO2), lead and zinc into the environment.
Making pennies wastes taxpayer money - As of 2010, it cost 1.79 cents to make each 1 cent coin, meaning that taxpayers lost 0.79 of a cent for each of the 4 billion pennies the Mint produced that year; which represents a $32 million loss in 2010.
Rounding down won't raise prices - At Mike's Bikes, all transactions will be rounded in favor of the customer, so they will essentially function like a 1-4 cent discount on all cash transactions. Economists also have proved that eliminating the penny won't affect prices; we believe that the savings to the environment and the economy will more than compensate for the risk of any possible jump in prices.
Pennies waste time and money - The average American wastes 12 hours a year handling pennies. The National Association of Convenience Stores and Wallgreens estimate that handling pennies adds 2 to 2.5 seconds per cash transaction. By eliminating pennies, Mike's Bikes will save over $5K a year; rounding up to the customer's benefit allows us to share this saving with our customers.
Pennies are worth less than CA minimum wage - pennies are so worthless now that it doesn't even pay the California Minimum Wage of $8/hour to pick them up off the street.
Registered User
iTrader: (2)
Joined: Jul 2010
Posts: 839
From: Sacramento, CA
Car Info: San Remo Red '05 WRX
We don't accept 50s or 100s because we literally cannot make change for it. There isn't enough money in the store to do it.
Yes, it's money... however you also have to HAVE money to GIVE money...
Registered User
iTrader: (15)
Joined: May 2005
Posts: 1,391
From: www.fatlace.com www.gripunit.com
Car Info: www.hellaflush.com
Punishment might be a bit too harsh, but I don't see anything wrong with that. He got bent because he didn't believed he owe them $25, so he decides to give them a hard time by presenting pennies as legal payment. If you're going to give someone a hard time, you better get ready to receive that ish back in return.
I did it last week lol. I went to a bakery shop, paid me $3 and some change worth of bakery goods and the lady on the counter said are you serious? and then sigh and started counting. Then as I walked away from the cash register, the lady behind me was also doing the exact same thing. I lol-ed and said sorry
