Shopping with Coins: Half Dollar, Quarter, Dime, Nickel, Penny

  • Context: High School 
  • Thread starter Thread starter tribdog
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SUMMARY

The forum discussion centers on determining the maximum price of a widget that can be purchased using U.S. coins: half dollars, quarters, dimes, nickels, and pennies. Participants debate various combinations of coins, concluding that the highest possible price is $1.19, achieved with 3 quarters, 4 dimes, and 4 pennies. The conversation also touches on the rarity of half-dollar coins and the public's reluctance to adopt higher denomination coins like the dollar coin. Ultimately, the discussion highlights the complexities of using coins for transactions and the nuances of U.S. currency.

PREREQUISITES
  • Understanding of U.S. coin denominations: half dollar, quarter, dime, nickel, penny
  • Basic arithmetic skills for calculating coin combinations
  • Familiarity with currency value and change-making
  • Knowledge of common currency practices in the U.S.
NEXT STEPS
  • Research U.S. coin history and the introduction of dollar coins
  • Explore the psychological impact of using coins versus bills in transactions
  • Learn about the economic implications of removing low-value coins from circulation
  • Investigate international currency systems and their approaches to coin denominations
USEFUL FOR

This discussion is beneficial for economists, educators, and anyone interested in the practicalities of currency usage, particularly in the context of U.S. coinage and consumer behavior.

tribdog
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It's not on sale.

Shopper #1: I sure want that widgit. and look at the price. I have exactly enough to pay for it. All I have are coins though and I hate paying with coins. I'll comeback when I have bills.
Shopper #2: I have a bill, do you have change for a dollar?
Shopper #1: No
What's the most the widgit could cost?

american coins: (100 cents =1 dollar): half dollar(50 cents), quarter(25 cents), dime (10 cents), nickel (5 cents), penny (1 cent)
 
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.99 cents? what if shopper #1 just lied because she likes to save her coins, and she really did have change for a dollar!
 
sometimes in the brain teasers section you should use your brain. Wrong answer number one
 
I'm not an expert on US currency, but what are the highest value coins? If, say, there was a two-dollar coin, shopper #1 may have all the money in two-dollar coins and so no change for a dollar. Or even one-dollar coins, since a $1 coin would not be 'change' for a $1 bill. However, I see no upper limit to the cost of the widget in this case so I guess that's not it? Unless by shopper #2's offer of a dollar bill we can infer that shopper #2 knew the cost of the widget, in which case it's $1.
 
tribdog said:
sometimes in the brain teasers section you should use your brain. Wrong answer number one

but i did use my brain :) It was just the wrong answer... Well the widget could cost ... could it possibly be 1.69? 7 dimes... 70 cents... 3 quarters... 75 cents... 4 nickles... 20 cents... 4 pennies... and still no change for a dollar... unless there is a different mix of coins for a larger price.
 
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I wasn't being rude, but did you read your answer? go back and read it and tell me you really tried to come up with an answer
 
yeah sorry, was just using some sarcasm... i should note that before i post, hard to tell over the net.
 
we don't do sarcasm here. lol. I'm just screwing with you
 
so is it 1.69? :)
 
  • #10
not even close
 
  • #11
I can't figure out a way to get above $1.19 (such as 50+25+4*10+4*1). The only "split" that would take me above a dollar is the 25 which keeps it from happening since there's no 25 in 4*10 and there isn't enough pennies to make another 5. I may be wrong, but that'd be my guess.
 
  • #12
tribdog said:
I hate paying with coins. I'll comeback when I have bills.
If the answer is $1.19 (3 quarters, 4 dimes, and 4 cents), then the problem is poorly worded. The buyer is going to pay with coins whether they like it or not.
 
  • #13
Do you have half-dollar coins in the US? I've just come back from America and I don't remember seeing any - just loads of quarters!
 
  • #14
There are indeed half-dollar coins, though quater, dime, nickle and penny (25, 10, 5 and 1, respectively) are *way* the most common. The half-dollar is used pretty rarely, though they are definitely around. There have also been rounds of dollar coins for ages (gold/silver dollars, etc) though they've never caught on. I think they're planning another round of it. Most other systems I've seen seem to use coins up to $1-$2 in value and often remove the penny and possibly nickle value coins and round up/down at those ammounts. The public doesn't seem very willing to do either of these (I don't think they've even tried removing pennies, but dollar coins seem to be met with suspicion as well).
 
  • #15
Thanks for that LarrrSDonald, a similar thing occurs with our £2 coin. I've no idea how many are in circulation but there are many, many more £1 coins.


Another way to make $1.19 cents is 1 quarter, 9 dimes and 4 cents is it not?
 
  • #16
how do you guys keep getting 1.19, i already posted a way to get to 1.69 without having an even dollar for change... but i think it's 1.74 uppon further examination. 9 dimes... 90 cents... 1 nickle... 5 cents.. 3 quarters.. 75 cents... 4 pennies... 4 cents... and in any of these variations, you cannot come to an even dollar. So i stand strong with my final answer of 1.74
 
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  • #17
dgoodpasture2005 said:
9 dimes... 90 cents... 1 nickle... 5 cents.. 3 quarters.. 75 cents... 4 pennies... 4 cents
With those coins, you could easily make change for a dollar. For instance, 3 quarters, 1 nickel, and 2 dimes.
 
  • #18
Same with the previous "70 cents... 3 quarters... 75 cents... 4 nickles... 20 cents... 4 pennies...", the three quaters, two dimes and a nickle would work as would numerious other combinations.
 
  • #19
the reason we still have pennies is because it costs less than 1 cent to make one. pennies are free money for the treasury
 
  • #20
Yeah I have been thinking and all I can get is just $1.19. Oh well I guess I will have to try a little harder.
 
  • #21
JCCol said:
Yeah I have been thinking and all I can get is just $1.19. Oh well I guess I will have to try a little harder.
why, it's the right answer
 
  • #22
i submit to the allmighty tribdog... my brain is yours to tease.
 

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