Watch Small Change

Press, Volume CVII, Issue 31412, 4 July 1967, Page 18

Watch Small Change

Biggest change in the switch’ to dollars and cents is in the values of our small value coins—from the penny to the cent.

The cent is worth a fifth more than a penny, so a penny cannot be used for a cent purchase. Misapprehension can be caused by price conversion tables. Tables are used In accounting, to convert prices, values, balances, etc. They have nothing whatsoever to do with coin values.

The difference between price conversion and coin values can be explained by the following examples: If a shopkeeper still has a cash register operating in £.s.d. his goods will be priced in £.s.d. If an article is priced at Is Id, the correct coins to offer are one shilling and one penny. If you haven’t the exact amount, you could offer Is 6d or 2s, getting the correct change, which would be 5d or lid respectively. When tile shopkeeper has his cash register converted to $ c, he converts his prices to $ c and the particular article would then be

priced at 11c. The correct coins to offer are one shilling (it is 10 cents) and one cent—not a penny. 0 . You will pay a little more for this article but a little less for others. It is all part of converting all his prices, so that some go up fractionally but others go down fractionally, with the final total the same as they were in £.s.d. If you haven’t the exact coins to offer, you could offer Is 6d (it is 15c) or 2s (it is 20c) and get the correct change, which will be either 4c or 9c respectively.