> Four states - Delaware, Connecticut, Michigan and Oregon - as well as numerous cities, including New York, Philadelphia, Miami and Washington, DC, require merchants to provide exact change.
"Congratulations customer, we have a special coupon today for $0.03 off your purchase. Here's your change :)"
There will surely be some customer pissed about the extra 2 cents they were charged who will raise hell over the exact change law.
But what customer is going to be upset over a small discount?
I guess you could calculate all of your prices such that, once sales tax is added, they round to a 5 cent value.
All the items in my dad's farm shop were priced so they came out to a round dollar amount after tax, and that was 40 years ago.
0: full
9: sale
8: reduced
7: clearance (item will not restock)
I forget the exact system Sears used but we could tell at a glance if a deal was really “good”.
I’m curious if Sears and WalMart used different systems and if WalMart exploited knowledge of the Sears system to signal better prices to shoppers. Like a full WalMart price being .97 and clearance being .94.
Oregon residents didn’t pay sales tax when making purchases in Idaho. Washington charges sales tax on out of state purchases if that state’s sales tax is less than Washington’s, including if it is zero.
> in some states, merchants could face legal trouble for rounding up or down
It seems obvious to me they are already rounding to the $1/100. Why is rounding to $1/20 a problem?
As far as I can tell the relevant statute is 31 USC §5112, and it does not require the minting of all authorized coins:
“(a) The Secretary of the Treasury *may mint* and issue only the following coins: ... (6) ... a one-cent coin that is 0.75 inch in diameter and weighs 3.11 grams.”
(Emphasis mine)
There may be another clause somewhere that requires the Treasury to issue all coins, but that seems unlikely to me. The _number_ of coins to issue of each type is left to the discretion of the Treasury; why wouldn't that include the option to issue none?
I think we should get rid of the penny, but it's Congress's responsibility to do that, and they haven't. I'm opposed to Congress abdicating its power and responsibility like that.
Can you show me the statute requiring the treasury department to coin pennies?
https://spectrumlocalnews.com/mo/st-louis/politics/2025/04/3... https://www.law.cornell.edu/uscode/text/31/5111 https://www.law.cornell.edu/uscode/text/31/5112
The fact that all of that gives leeway for "'none' is all that's necessary" is why I said the legal basis was "shaky" and not "baseless". I think getting rid of pennies is good, but this is something that Congress needs to do, rather than continually abdicating its responsibilities.