KOTCT
Worldwide Coins & Bank Notes => Australian Coins => Topic started by: Redlock on May 04, 2016, 06:05:06 AM
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Is it true that the Australian federal government wants to end production of the 5 Cent coin? Or is this just a rumour?
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Just a rumour at this stage. I wouldn't be surprised if it does happen in the next few years though.
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It will happen....the cost of producing the 5 cent coin is more than the 5 cent face value.
I have already collected one of each year in UNC condition to be ready for it.
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It will happen....the cost of producing the 5 cent coin is more than the 5 cent face value.
I have already collected one of each year in UNC condition to be ready for it.
Did you manage to find UNC 1972, or did you buy one?
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It will happen....the cost of producing the 5 cent coin is more than the 5 cent face value.
I have already collected one of each year in UNC condition to be ready for it.
Did you manage to find UNC 1972, or did you buy one?
Purchased in 2005 for $35.00 in UNC condition.
:)
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Have a read of this article:
http://www.news.com.au/finance/money/scomo-declares-death-of-5-coin--prematurely/news-story/b66a8834abf0c8eb71ae944eeeae51a1
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Folks have been doing away with the cent here in the U.S. ever since I can remember. It's still in circulation. 8) 8)
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Our 5c coin is definitely on death row, it's just up to the pollies to decide when to throw the switch. Could take a few more years at the rate things usually happen.
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Our 5c coin is definitely on death row, it's just up to the pollies to decide when to throw the switch. Could take a few more years at the rate things usually happen.
Perhaps they will take the opportunity to overhaul the Australian Cent coins like New Zealand did a couple of years ago. No offense intended, but Australian coins are currently too large and heavy for their face value, the materials used are too valuable for the face value...Wasn't there talk about a re-design of the 50c coin recently?
I don't know how things work in Australia (=how long such things take), but Canada got rid of the 1c coin a few years ago pretty quickly. And they changed the materials of the Loonies and Toonies also pretty quickly a few years ago.
As coin collector and strong proponent of cash I was glad to read in the linked article that 50% of payments in Australia are still being made in cash. We here in Germany have pretty much the same percentage rate.
A collector friend in Sweden is rather sad that they are down to approx. 20% there.
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Ralf, yes there is talk about redesigning the 50c, so I'm guessing the whole coinage will get a makeover soon.
If, they make the coins smaller that would be great, it won't cost me so much to send them to you. :)