Which is the best practice for saving a price column on PostgreSQL?

Question

I am currently developing an e-commerce system, and for now, I'm using the type numeric to save the price of the products on my database. I want to know if this is the best practice or if I should use double-precision or another type.

Answer 1

Numeric is the best practice for storing prices.

In general, you want to avoid floating point representations for numbers because they can have rounding errors and precision errors -- that might add up over large quantities of numbers.