Tables Are Fair Way
The main point to remember about conversion tables for the change to dollars and cents is their right place in the scheme of things. They have nothing whatsoever to do with coin values.
Conversion tables are simply a convenient and fair way of converting prices ending in whole pence to prices ending in whole cents. They do not mean that one penny is worth one cent, two pence worth two cents, threepence also worth two cents, etc. Because each new cent is worth one fifth more than
each old penny, many legal conversions of prices from pence to cents end up in fraction of cents.
Pricing of goods is currently tailored to fit existing whole coin values. This pricing needs to be converted to fit the new range of whole coin values. This is all that conversion tables do. They convert whole
pence values and prices to the nearest whole cents values and prices. Minor fractional differences actually and conveniently cancel each other out. This is the table recommended for most conversions. There are no fractional coins to cover this situation —and in any event shops do not trade this way.
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Bibliographic details
Press, Volume CVII, Issue 31412, 4 July 1967, Page 19
Word Count
195Tables Are Fair Way Press, Volume CVII, Issue 31412, 4 July 1967, Page 19
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Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
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