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Keith Brady Real Estate

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The 5c Coin Debate – Do We Still Need Them?

2 Jun 2011 Brian Brady 0 Comment

Predictions are currently being made about the future of Australia’s 5c coin! Metal prices are going up and the nickel and copper used to make the 5c coin is coming close to its face value – it’s estimated to cost 3.6c for every 5c.
 
So could this mean that the 5c piece is no longer needed? Will it be scrapped?
 
There seems to be a lot of mixed views in Everton Park over whether or not the 5c coin should stay in use.
 
A lot of people still use their 5c coins regularly. For instance they’re great for buying snacks or newspapers from the local convenience store, or for filling up parking metres and ticket machines.
 
But some argue that that the 5c coin is almost obsolete, and you’d be hard-pressed finding anything worth just 5c these days! Many retailers believe that they would do just fine without the 5c coin and would probably just round items to the nearest 10c value.
 
Despite the arguments though, it looks like the 5c coin is here to stay, at least for now. The Royal Australian Mint has said that there are currently no plans to scrap the 5c coin.  
 
Do you still use your 5c coins?

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