The 99p Craze

By Ryan

Shops and all goods stores (even dedicated 99p shops) offer products priced at the .99 mark as if you're saving money (well technically, yes). But it's more of a hassle for stores to give you that penny change and I'm sure there's a few people here that have money 'jars' full of pennies. The penny is worthless and if you want to get it changed in to real cash, it cost roughly 9p per GBP in change machines. Abolish the penny!

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10 Comments

10 Responses

  1. Ikzo says:

    Great idea! Saving a penny is usually more of a hassle than anything.

  2. george farquharson says:

    The 99p craze. What a great point made here.
    But even better than abolish the penny? Why not simply ask any store about to give you your penny charge back to put your penny charge into a penny bank in the store which i’am sure any store would be happy to take part and show customers that they do there bit for charity.The penny bank idea would be a large bottle or anything that the pennys can be saved in? and kept in the store and when full the money is donated to any uk charity or i.e for cancer research uk now that’s got to be good idea??

    george.

  3. Alastair says:

    I agree. Singapore don’t have a 1cent coin and it causes no issues. Although 99p stores would go out of business/have no USP :D

  4. Richard says:

    But if you get shot of 1p & 2p coins, the minimum rate of inflation would be 5%
    Just use them as you get them, don’t let them accumulate.
    Or dump them in one of the self-service tills.

    Keep the Penny!

  5. Olly Newport says:

    Round up to the nearest 5 pence, in some instances it would save you money in others you would miss out on some. In the United Kingdom we don’t pay more than a penny to make a penny, but in Canada it made sense to abolish the penny as it cost them more.

  6. Mikha'el says:

    Richard, that doesn’t make sense. Getting shot of the one and two penny coins would not limit the inflation rate to 5%.

  7. David says:

    You are right but some people have no bread to put on there table so that penny would make a diffrence

  8. Jack Watkins says:

    a lot of shops already have charity boxes for their spare pennies.

    another, less obvious reason for making the transaction 99p is that it forces the shopworker to open the till and produce a receipt – it makes it harder for them to just pocket the £1.

  9. roland says:

    i do belive that the reason we have 99p prices is so that it gets rung into the till so a penny change can be given and not just pocketed

  10. Ryan says:

    I understand in some instances that the penny could make a difference where ‘watching those pennies’ is crucial but when you think about it, it doesn’t really make a difference if the penny is abolished.

    I don’t see how inflation would be a minimum of 5%.

    I’ll take what David said literally and suggest that you would have to buy 99 99p (with a pound coin) loafs to get one out of those pennies (for instance if the loaf went up to £1 if the penny was gone), that’s about every 3 months you would get a loaf from penny change which to me makes no sense. To be fair the penny is useless today and it only gets more and more useless as prices rise.

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