Coinage (was: SC - re: jameson's heresy)
Par Leijonhufvud
pkl at absaroka.obgyn.ks.se
Thu Nov 13 03:51:02 PST 1997
On Thu, 13 Nov 1997, James and/or Nancy Gilly wrote:
> Hmm - I'm curious. Are you being facetious? Or is this related to the
> practice followed by some commissaries overseas, which round the bill
> up/down to the nearest .05, in order to not have to deal with pennies?
This is the standard way to handle the fact that a once usefull
subdivsion of currency is to small to be of any real life use:
1. Stop making coins of that value.
2. Make regulations as to how the values should be rounded to a
"possible" value.
E.g. in Sweden we no longer have any 1 ore coins, but rather the
smallest is a 50 ore (1 krona = 100 ore). So the regulations state that
up to and including 25 ore shall be rounded downwards, and the
equivalent should be done with 51-75 ore. Actually some stores have
simply stopped posting prices in anything less than 1 krona.
This sytem is, or course, simplified by having the sales tax included
into the sticker price, something that is common outside the USA.
/UlfR
- --
Par Leijonhufvud par.leijonhufvud at labtek.ki.se
PGP fingerprint = 76 3B 11 28 79 39 87 C0 DC 4C 1F 4C C0 1F 1E 89
Tum pultus sicissentem ur ne lus sem ittibus profugnatreius.
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