Dunkin' Donuts Abolishes Penny Use

[cesariojpn]

http://consumerist.com/2010/10/a-lone-d ... nnies.html

[jasmatk]

catch 22....you would get more nickels witch are always good but you would loose out on pennies but out of the last 32 pennies ive got in change only one copper ....it will be a sad day when you have a fist full of some kind of aluminium alloy

[highroller4321]

I am suprised that more companies aren't doing this already. Pennies actually cost most retailers money.

[Devil Soundwave]

Saying "we're gonna do this, but if you don't want us to, just say and we'll not do it" is a bit wishy-washy. They should make teh change, make it policy, and stick to their guns.

They should just round all *prices* to the nearest nickel, and thus there will never be a situation where any change of 1, 2, 3 or 4 cents will be required; thus they will never have a situation where anyone moans about not getting their 2 cents worth of change or whatever.

Likely they are doing that though, right?

[Cerulean]

Businesses have always had the power to stop using cents if they wanted to. I'm quite surprised that it is taking this long to see concerted efforts from commercial outfits to go penny-less.

Assuming that the US dollar is still as alive in ten years as it is now, I think the cent will go the way of the half dollar... still legal tender, still minted in minor quantity, and still available at banks, but rarely seen in daily transactions. This is good for cent collectors... the pickings get better in denominations that don't circulate (just like the half dollar).

[Rodebaugh]

why companies haven't jumped on the "drop the penny band wagon"

It is all about price point and how we feel about paying certain prices subconsciously.

Ie. Kleenex tissues for sale at Wal-Mart for $1.97 a box subconsciously seems like a much better deal than an even $2.00. Sure it’s three cents cheaper….but the box of nose wipes are still practically two bucks.

But the public, in general, only process the whole dollar amount. They see a dollar and change vs. two bucks.

Or example #2: “it’s not even a hundred bucks” $99.99 (we all know or are freinds with the guy that says this)

I could go on for days…..either a person can see it and understands it….or they don’t ….

The forum folks here see it, the corps see it, and the us gov sees it......and I bet Mr Dunkin sees it and that small cup of Joe will ring up to 95 cents (wow thats less than a dollar)

[TheJonasCollegeFund]

Maybe they'll make some fresh doughnuts now that they don't have to waste their time with pennies. The store by me has horrible standards. You could pass them off as hockey pucks. They never pull the old ones off of the shelf until every single old one is gone! I don't go there anymore. They can round whatever they want!

[Devil Soundwave]

Prefer Krispy Kreme anyway...

[zyll]

I think if stores start implementing this, they'll keep the fractional prices (like $19.99), but just do the rounding of your combined total with tax, after determining that you are indeed paying with cash.

[fasteddy]

9/10ths of a cent is still used today for gasoline sales, a hundred years ago it may have made a difference...I think save the cost of the additional signage and drop it...percetion perception... its like location location location....blah blah blah....sheeple get your minds right! although I do like to get the total price verbally spoken before the register tells the clerk the price....keeps my mind right!

[Rodebaugh]

9/10ths of a cent is still used today for gasoline sales, a hundred years ago it may have made a difference...I think save the cost of the additional signage and drop it...percetion perception... its like location location location....blah blah blah....sheeple get your minds right! although I do like to get the total price verbally spoken before the register tells the clerk the price....keeps my mind right!

That is a great point. My 18.5 gallon Jeep tank makes Exxon an additional 16 cents everytime I fill up. I fill up about once a week.....so:

16.5 x 52 weeks/year = $8.58 per year Just on my ticket

Lets say 50 cars (Which is stupid low) pull into that station and "fill ur up" each day for a year at 15 gallon tanks......so:

15gal x .9 cents = 13.5 cents per fill up

13.5cents x 50cars x 365days = drum roll please.........$2463.75 per year.

Wait a second. What about the guys pushing 18 wheels down the road. forgot about them!

The point is: When I buy my gas I do not even register the 9/10ths.....but the corps do....and they are adding to the bottom line with it

[cesariojpn]

Whoops, pennies were brought back by customers complaining.

http://consumerist.com/2010/11/rogue-pe ... shing.html

[AdamsSamoa]

I gave them two rolls of zincs this morning when I got my coffee

[Thogey]

why companies haven't jumped on the "drop the penny band wagon"

It is all about price point and how we feel about paying certain prices subconsciously.

Ie. Kleenex tissues for sale at Wal-Mart for $1.97 a box subconsciously seems like a much better deal than an even $2.00. Sure it’s three cents cheaper….but the box of nose wipes are still practically two bucks.

But the public, in general, only process the whole dollar amount. They see a dollar and change vs. two bucks.

Or example #2: “it’s not even a hundred bucks” $99.99 (we all know or are freinds with the guy that says this)

I could go on for days…..either a person can see it and understands it….or they don’t ….

The forum folks here see it, the corps see it, and the us gov sees it......and I bet Mr Dunkin sees it and that small cup of Joe will ring up to 95 cents (wow thats less than a dollar)

Sales tax is not 10% in my area. They've kept it down to 9.86%. It's a pain in the ass to calculate when I have to collect it, and don't have a calculator with me.

Guess what, the calculation gets real easy if you pay with cash.