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The new £1 coin

Arthur

By Arthur
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LiamH

LiamH

Posted
Posted

I don't like the $1 notes over here. But it doesn't help that American $'s are horrible low quality notes to begin with.

 

Take up lots of wallet space, get crumpled easily and, get missed and washed frequently. Always catches me out that i think i have plenty on money in my wallet when in reality its $5.

elsiegee40

elsiegee40

Posted
Posted
I think the problem with the US notes is that, at first glance, they all look the same. There is little variaton in color and size which makes quick identification hard
Garacesh

Garacesh

Posted
Posted (edited)
99p coin??? :p :p :p

 

But then everything would just cost 98p :p

 

(Quick history lesson: £x.99 was thrust into population because more often than not it forced the teller to provide change. Tills would not open unless a transaction was made. Therefore, the teller was forced to log each transaction on the till in order to provide the necessary change to the buyer, meaning they couldn't just pocket the buyer's money without processing the purchase and keep it for themselves.)

Edited by Garacesh
  • Thanks 2
Chris_Jones

Chris_Jones

Posted
Posted

(Quick history lesson: £x.99 was thrust into population because more often than not it forced the teller to provide change. Tills would not open unless a transaction was made. Therefore, the teller was forced to log each transaction on the till in order to provide the necessary change to the buyer, meaning they couldn't just pocket the buyer's money without processing the purchase and keep it for themselves.)

 

If that is the case, why are cars priced at £6995 or indeed houses at £89900 ? are they worried the estate agent will pocket the Fee and not process the house sale? ;)

Garacesh

Garacesh

Posted
Posted
If that is the case, why are cars priced at £6995 or indeed houses at £89900 ? are they worried the estate agent will pocket the Fee and not process the house sale? ;)

Not a clue, but you enter into a contract to buy those, and the contract will state the amount that you're paying, so there's a proper paper trail. Buying a Snickers at Tesco doesn't carry such legal importance, smartass :D

 

Then again.. I've never seen an estate agent using a till xP

tech_guy

tech_guy

Posted
Posted
Not a clue, but you enter into a contract to buy those, and the contract will state the amount that you're paying, so there's a proper paper trail. Buying a Snickers at Tesco doesn't carry such legal importance, smartass :D

 

Then again.. I've never seen an estate agent using a till xP

 

Quite, imagine the size of the trolly you'd need to fit a house in it - and anyway it would break the conveyor belt when you put it on. Unless you went down the self service aisle that is.

sted

sted

Posted
Posted
If that is the case, why are cars priced at £6995 or indeed houses at £89900 ? are they worried the estate agent will pocket the Fee and not process the house sale? ;)

 

because £6995 sound a lot cheaper than £7000 apparently

Garacesh

Garacesh

Posted
Posted
I thought it was more to do with marketing i.e. psychological pricing?

I think that's more the case with large 'just shy of' prices (aforementioned £6995) but as far as I knew it, it basically works like this:

 

  • Unscrupulous staff skim off the top of tills.
  • As a security measure, tills are modified to not open unless a transaction is logged.
  • Unscrupulous staff now do not log transactions where customers pay exact amounts, electing to pocket the cash instead.
  • Prices are dropped in order to force change to be required. Till cannot open to give change without logging the transaction.
  • Thief foiled.

Arthur

Arthur

Posted
  • Author
Posted
Till cannot open to give change without logging the transaction.

Surely the transaction would be logged as soon as the checkout operator scans the first barcode?

 

What's stopping unscrupulous staff from not scanning the occasional item and then pocketing the money whenever the till is next opened?

sted

sted

Posted
Posted
Surely the transaction would be logged as soon as the checkout operator scans the first barcode?

 

What's stopping unscrupulous staff from not scanning the occasional item and then pocketing the money whenever the till is next opened?

 

or just refunding/voiding the sale?

Garacesh

Garacesh

Posted
Posted
Surely the transaction would be logged as soon as the checkout operator scans the first barcode?

 

What's stopping unscrupulous staff from not scanning the occasional item and then pocketing the money whenever the till is next opened?

My guess would be they would take the money, and once the cash was handed over cancel the sale (which can legitimately happen for a variety of reasons.. I've forgotten my wallet enough times). £x.99 means they had to open the till to get change, so they had to log it as sold. Skimming off the till next time it was opened means that the sale has been conducted, and thus the numbers wouldn't add up at the end of the day.

 

or just refunding/voiding the sale?

Till doesn't open if you void the sale.

 

I guess we have better stock control these days, so if someone did pay in exact change and the teller voided the sale to pocket the cash, the stock would still be wrong, but that could be shoplifters.. I never said it was a foolproof plan :p just a legacy thing that's still in use.

JRowley

JRowley

Posted
Posted
Till doesn't open if you void the sale.

 

I guess we have better stock control these days, so if someone did pay in exact change and the teller voided the sale to pocket the cash, the stock would still be wrong, but that could be shoplifters.. I never said it was a foolproof plan :p just a legacy thing that's still in use.

 

That really depends on the till, some open for you to add a record for the voided sale, others record the voided sale automatically to a database.

Andrew_C

Andrew_C

Posted
Posted
Surely the transaction would be logged as soon as the checkout operator scans the first barcode?

You're showing your age. For decades, if not a full century or so, tills were manual, then electric, with keypad entry of the price of an item. They then went to enter an item type, and finally (last ten years?) to barcode.

unixman_again

unixman_again

Posted
Posted
Well, unless IKEA did one as a flat-pack..

Contents: 1 house. Assembly required.

Flatpack homes aren't a new idea. In the 1980s, an Australian company Logan Homes, advertised houses that you could fit together with just a spanner. There were also the prefabs erected in the UK after WW2, but I don't think these were DIY.

 

You're showing your age. For decades, if not a full century or so, tills were manual, then electric, with keypad entry of the price of an item. They then went to enter an item type, and finally (last ten years?) to barcode.

Manual tills were good. The checkout operator had to work the change out by brain, and they would count it back to you going from the price of the item, up to the amount that you had tendered. This ensured that there were no mistakes. Nowadays, they just dump a pile of change into your hand.

  • 1 year later...
6Foot2

6Foot2

Posted
Posted

Link: The Chancellor announces that production of the new and highly secure £1 coin has now started

 

The new £1 coins started rolling off the production line at a rate of over 4000 a minute, as the Chancellor, George Osborne, announced that they would enter circulation in March 2017.

 

The current £1 coin is being replaced for the first time in over 30 years because of its vulnerability to sophisticated counterfeiters. The new 12-sided coin resembles the old ‘threepenny bit’ and will be the world’s most secure coin in circulation...

DJ-1701

DJ-1701

Posted
Posted
And a whole lot of expense changing all the parking ticket stations and shopping trolleys

 

What about those that paid £1 to get a £1 shaped token they can use in the trolleys? :eek:

  • Thanks 1
FN-GM

FN-GM

Posted
Posted
And a whole lot of expense changing all the parking ticket stations and shopping trolleys

 

We are having all the cashless catering stuff updated shortly for the new £1, £5 & £10.

RichCowell

RichCowell

Posted
Posted
What about those that paid £1 to get a £1 shaped token they can use in the trolleys? :eek:

 

That's a very good point!! I was going to look into trolley tokens as freebies for the ANME, but will hold off now!!

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