The E-Sylum:  Volume 11, Number 13, March 30, 2008, Article 35

SWEDISH ROUNDING AND THE ELIMINATION OF LOW-DENOMINATION COINS

Kerry Rodgers forwarded an article about the elimination
of the lowest denomination coin in Malaysia beginning April 1.
He notes "However, the report perpetuates misinformation in
its reports of the rounding system practised in a number of
countries that have ditched their lower denomination coins.
I have noted this same misinformation appearing in North
America the debate over whether the US and/or Canada should
dispense with their one cent coins.

"Australia and New Zealand use 'Swedish rounding'. This is
not the rounding up to the nearest 5 cents stated in the
article. If a cash sale is involved, places such as supermarkets,
gas stations and even corner shops have a sign saying something
along the following lines:

 all sales ending in 1c, 2c, 6c, 7c are rounded down
 to the nearest 5 cents;

 all sales ending in 3c, 4c, 8c, 9c are rounded up
 to the nearest 5 cents"

"Of course sales ending in 0c or 5c remain unchanged.
Essentially what we gain on the swings we lose on the
roundabouts. No one is aggrieved.  It works very well.
And if you want to pay the exact $19.99, then use plastic.

"Someone else may have stated all this but I continue
to see a confused version of the situation, whether the
on is deliberate or not I can't tell but have become highly
suspicious! "

Kerry adds: "I was in a supermarket last evening and now
that we have dumped the 5 cent coins the notice simply said:

 all sales ending in 1c, 2c, 3c, 4c and 5c are rounded
 down  to 0 cents;

 all sales ending in 6c, 7c, 8c, 9c are rounded
 up to 10 cents"

  Wayne Homren, Editor

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