Why isn't 99p rounded up to £1?! #QI #iPlayer

So... whats the point if the lowest coin value we have in new zealand is 10cents...?

Count the pennies simple profit

So basically you get money from your customer stupidity and laziness?

before finishing to get the answer, that one penny leftover was for newspapers when it first started being a thing and then it stuck around for the “it looks less” reason

that’s really interesting

I thought it was the taxes.

The old reason is that pennies were actually used to track how many items you have sold and figure out if something had been stolen. Except newsppers because they costed a penny, in fact an Italian newspaper is called "Il Resto del Carlino", the change of a carlin (an old type of money), because it costed the penny you would get as change so might as well just get the newspaper as change itself

Good luck finding something that cheap theese days

Why don't we have a 99p coin instead of a pound.

apple Pay : yeah mr patel😅😅

Thia is the original reason but not the reason now.

It’s all to do with VAT.

I just Googled it and they gave two more reasons but not their main reason. Interesting.

How old is this clip... Nothing is priced 99p with today's inflation

"Cos it looks less..."

It is less. Classic Geordie education right there 🤣

A mr patel owned a corner shop ? Don’t sound right

Please explain online prices then 😂😂😂

Not the reason in places with sales tax!

To make them ring it on the till for change

The moment he opened his mouth I was bored.

Isn’t that so very sad? Humans are untrustworthy.

This is absolute nonsense. It makes absolutely zero sense. It doesn't prevent anything.

Shout out Mr. Patel

I thought it was about tax purposes.

It is the main reason now that most people use credit cards. Our monkey brains think that something listed at 1.99 costs a lot less than something costing 2.00.

Whaaaa

So he wouldnt forget to put the money in the till?

That WAS a reason. It's not the main reason anymore.

Can someone explain the reason…I still don’t understand…

Istg for some reason my brain doesn’t want to understand what he explained. Can someone explain it like I’m 5 and American? (I’m German)

Теперь, когда мы используем карточки пластиковые при оплате, размен не нужен! Зачем тогда 99 , а не 100?
99 кажется намного меньше психологически!!! 2 цифры vs 3 цифры

Of course now we are in a cashless and online society this is largely redundant.

The laugh half way through sounds like N64 mario dying in lava…

Love this show, but sometimes they easily fall into “folk history”. The truth is that no one knows. We often like to jump on the most interesting explanations, but it’s often not the case.

There are loads of origin stories out there, most of them around it being a marketing tool, which it most probably is. Because when you think about it, not so long ago (i mean till the 1950’s at least) a penny was not an inconsiderable amount, in 1920 you could buy a loaf of bread with a penny, so pocketing any amount of change would’ve been worth it for most cashiers, and stealing a dollar worth of sales would have shown pretty quickly (I imagine it came from America, since the British system wasn’t based on decimal values).

Also, it does seem that the phenomenon started with values such as 0.99 cent (newspapers and such), which were purely for marketing purposes, as 1c was still the lowest denomination.

I wonder if prices will be more rounded as everyone pays with cards now.

Used to work with Jason Manford. He's a prick to be honest.

I love these people.

Wouldn’t work in oz as anything over 98c is rounded to a dollar by the machine. We don’t have 1c or 2c anymore

The digits tell you if it's full price, discount, end of line or negotiable, In the electricity board at least.

Fifteen or so years ago, a friend was in a bank in Thurles, Co. Tipperary changing his £s for Euros and after commision and charges etc the amount he received came to €399.99.

The girl behind the counter counted it out loooked at it and him, gave him an extra cent and said ' There, have this on me. Enjoy your stay...'

Gobsmacked!

I love the Irish!

It's psychological pricing

Audience: "HAHAHAHAHAHAHAHAHAHAHAHHA"

Wtf is "the till"??

So you're saying when I say "keep the penny", I'm actually given them the chance to steal😂

We all worked for a Mr Patel I think

Used to love the 99p store and all the things I could buy for £1.50

Fraud!

Still don’t get it. Why exactly? Because you have to go to the till? You have to go to the till if it’s £1 surely?

It's to look smaller cause tax gets added after here

What about the £1 shop?