Posted by Arturo Sangalli (Sherbrooke) on 16 December 2010
Why not simply stop manufacturing the one-cent coin?
Those coins in circulation will remain so, but no new coins will be added.
No rounding-off will need to be suggested or imposed. Let amounts to be paid, such as the price of a purchase plus taxes, remain as they are, i.e. with units of cents. For cash-less payments (cheques, credit cards, etc.) nothing will change. For cash payments, let the parties involved (usually merchant and customer) sort it out on a case-by-case basis.
Few, if any, merchants will argue with a customer if the latter cannot pay exactly $17.32--the merchant will happily accept $17.30. And few customers will insist in receiving one penny back on their $19.99 purchase.