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I wonder if it means anything anymore, taking a penny off the price.
Here, we abolished the one-cent coin in the 1990s, before the introduction of the Euro. The one-cent coin was re-introduced with the Euro and abolished again soon after, together with the new 2 cents. Prices, however, never were rounded to multiples of five cents. After abolishing the Dutch cent, many prices ended in '9' as it appeared cheaper than rounding up. There are enough people who consider € 99.99 a considerably better deal than € 100.
This psychological pricing is common. A catalogue publisher here may price his catalogue at $ 349, rather than $ 350.
I hardly use cash at home. Using my 'Maestro' card I can use in the whole Euro zone and some other countries, I get charged the exact amount. If I pay cash, then the sum amount is rounded down (1, 2, 6, 7) or up (3, 4, 8, 9) to the nearest multiple of 5.
Last weekend, I was in Croatia that introduced the Euro at the start of the year. There, I could still use one and two cent coins.
Dutch one and two cent coins, still, are being minted. They, only, are included in collector sets.
Posted 04/16/2023 11:21 pm
do we still have pennies in your currency?
