Let's say I go to the supermarket. I buy some milk priced at 2.34 €; at the cash I'm expected to either give 2.34 € (not 2.30 €) or give 2.35 € and wait for the 1 cent change. If I say I don't want ...
Wikipedia defines Seigniorage for paper notes and metal coins. Why is seigniorage for paper money not just face value - production cost? I can understand using just the interest rate in the age of the ...
The US, like Canada tried to introduce a $1 coin awhile back to reduce minting costs of the $1 paper bill. This was successful in Canada but not so much in the States. Why was it not widely adopted? ...
Another question about the potential for giving up on pennies made me wonder. What is the smallest (in terms of value) unit of currency that has a minted coin or printed bill that is in active use ...
If so, will it affect how retailers price items? Will they round up?