Australia pennies (1 cent coins)???

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i love my garden

Australian pennies were changed to Australian dollars 14 Feb 1966 12 pennies made a shilling and one shilling was converted to 10 cents. 6 pennies was converted to 5 cents.

Because of inflation it was found the 1 cent and 2 cent coins weren't used that much so the gov't dropped them and now the lowest coin is 5 cents. It happened years ago and until recently you could still bank these odd coins but now they're not legal tender.

$9.99 is advertised as such but everyone knows it's really $10.00 cash but if you charge the amount it is charged as $9.99.

Advertisers like putting .99cents as the price because it looks cheaper than putting $10.00. It's an advertising ploy.

when buying items of odd amounts when the bill is collated the amounts are rounded up or down . 1,2 down ,3 4 cents rounded up to 5c. 6,7cents rounded down and 8,9 cents rounded up. It sort of balances out in the end.

tentofield

Credit and debit cards get charged to the exact cent and interest on bank acoounts is to the exact cent. It is only when using cash that rounding up or down occurs. Rounding only occurs at the end of the transaction so if you shop in a supermarket, many items will be charged with prices ending in any number of cents. When the total is added, the final price is rounded if you pay in cash or charged exactly if you use a card.

No-one misses the old one and two cent coins. By the way, the coins were never called pennies in Australia. We had real pennies in the pre-decimal system and the name didn't transfer from the old to the new system.

â€¢ Koala â€¢ uÊop É¹Çpun

Yes prices are still $9.99 or 97c etc.. it is rounded down or up to the nearest 5 cents.

NZ and Australia gave up their 1 and 2 cents coins 10+ years ago.

The last one cent coins were dated 1990 and the last two cent coins were dated 1989. They were progressively removed from circulation starting in 1992.

fanta

lol yes we have things priced at $10.99 witch rounded will cost you $11.00 out 1 and 2 cents were taken out years ago.
if some thing cos $1.46 you get charged $1.45 is ronded up or down to the nearest

redgypsywine

gee and I havent got any cents (sense) left.......

iansand9876

The final price is rounded. If you buy 5 items each priced at $9.99 the price you will be charged is $49.95 and there will be no rounding.

ardnassac

The one cent coin was taken out of circulation in 1992 along with the two cent coin. Unfortunately places still price things like $9.99 but it is all rounded to the nearest 5c.

~jve~

And in New Zealand, we've just ditched the 5c coin too. Electronic transactions continue to be for the exact amount, though standard postage is about to increase from 45c to 50c, as NZ Post was getting too many complaints from people charged 50c cash for a 45c stamp! Most people just pay with whatever method they were going to before they knew the purchase total - I don't think many can be bothered choosing between EFTPOS and cash right there at the till.

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