All very interesting. Seems like a few years back there was a call for all to turn in the pennies kept in piggy banks and change jars because it was costing more to make new ones than their value because they were "out of circulation."
Here is an interesting tidbit - on how one country deals with a similar problem.
In Cambodia - virtually every thing is marked and sold in USD. ATMs and banks dispenseUSD - not local currency. They use their local currency for only giving change on the sale.
They haven't gotten rid of the "small change" just opted for a different measurement for sales. 100 Cambodian Riels to US Dollars is 0.02437 USD . So 100 is about 2 cents! AND- they have paper notes from 1,2 , 5, 10, etc. Nice collectors item - but hardly of any value. They have some coinage - but rarely seen - the 50 - is worth about a penny, 100, etc.
Rambling on -- Wasn't there a scam of taking the last 10ths of a transaction and aggregating that into millions? So who gets the round up difference? The local government? The company?
How would you feel if the round up all went into the state sales tax "pool?" Could it/would it reduce local taxes - or be used for improved services? It could be a useful source of revenue.
Cheers - Jim
Experience is the BEST Teacher. Is that why it usually arrives in a shower of sparks, flash of light, loud bang, a cloud of smoke, AND -- a BILL to pay? You usually get it -- just after you need it.