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The last-ever penny will be minted today in Philadelphia

(www.cnn.com)
334 points andrewl | 1 comments | 12 Nov 25 16:10 UTC | HN request time: 0.243s | source
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MrHeather ◴[12 Nov 25 16:24 UTC] No.45902076[source]▶
>But with 20 million customers a year, and 17% of them paying with cash, the policy will eventually cost Kwik Trip a couple of million dollars a year, McHugh said.

If we figure two-fifths of cash transactions need to be rounded up and the store is losing an average of 1.5 cents each time, their expected losses would be around $2,000, yeah?

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1. pavel_lishin ◴[12 Nov 25 16:38 UTC] No.45902254[source]▶
If we make the maximally pessimistic assumption that every cash transaction would require rounding down four cents, that's 68,000 customers per year times four cents, which is $136,000 per year.

A more reasonable assumption that half of transactions require rounding down cuts that in half, I suppose.