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by astr0n0m3r 399 days ago
It's not silly and is logical. Businesses and consumers will not be worse off. In 1978, the CPI was roughly a fifth of what it is now, and no one was complaining there wasn't a smaller denomination coin than the penny. Cash purchases as a percentage continue to decline.

It's not even worth your time to pick up a penny off the ground.
1 comments
WalterGR 398 days ago
> Businesses and consumers will not be worse off.

What’s your calculation?

The costs aren’t zero. Businesses will need to re-tool. Consumers will spend more because purchases will be rounded up to the nearest nickel.

What’s going to offset those costs?

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sgerenser 398 days ago
Register systems like Toast, Square, Shopify, etc. will have to issue a software update that rounds cash transactions to the nearest 5c. It will certainly be a cost, but not an very large one, and no business is likely to see it as a line item on their P&L beyond what they already pay to their POS vendor.
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