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Australian 5 Cent Coin will it Go?

> 10 years ago
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Captain_Morg
Captain_Morg
TAS
739 posts
Captain_Morg Captain_Morg
TAS, 739 posts
21 Aug 2012 9:54am
There has been a lot of talk about the Australian 5 cent coin
will it go or not. I find 5 cent coins all the time on the ground
But I don,t really pick them up because there not worth much.
I personally think there on the way out.
What do you guys think
theDoctor
theDoctor
NSW
5786 posts
theDoctor theDoctor
NSW, 5786 posts
21 Aug 2012 10:01am

What do you mean they're not worth much...?

They're worth five cents
Mark _australia
Mark _australia
WA
23682 posts
Mark _australia Mark _australia
WA, 23682 posts
21 Aug 2012 8:05am
Being our lowest denomination, they are not worth much.

If he said they are worthless though.....

Captain_Morg
Captain_Morg
TAS
739 posts
Captain_Morg Captain_Morg
TAS, 739 posts
21 Aug 2012 10:26am
Mark _australia said...

Being our lowest denomination, they are not worth much.






That is What I mean
gibberjoe
gibberjoe
SA
956 posts
gibberjoe gibberjoe
SA, 956 posts
21 Aug 2012 9:57am

Ive saved a motsa.......I wil sell them for a $1ea on egay
Wollemi
Wollemi
NSW
350 posts
Wollemi Wollemi
NSW, 350 posts
21 Aug 2012 10:39am
Captain_Morg said...

There has been a lot of talk about the Australian 5 cent coin
will it go or not. I find 5 cent coins all the time on the ground
What do you guys think


I think it most fascinating that you find Australian five-cent pieces in the western portion of the North Atlantic. Don't you?

getfunky
getfunky
WA
4485 posts
getfunky getfunky
WA, 4485 posts
21 Aug 2012 9:15am
I would offer my opinion on the (almost) useless 5 cent piece but unfortunatly I can't offer my 2c - they were phased out ages ago.
theDoctor
theDoctor
NSW
5786 posts
theDoctor theDoctor
NSW, 5786 posts
21 Aug 2012 11:23am

Mind your pennies and pence, and your pounds will take care of themselves....

It doesn't take long to collect a bucket of change

A bucket of change adds up to a few hundred bucks..
doggie
doggie
WA
15849 posts
doggie doggie
WA, 15849 posts
21 Aug 2012 9:32am
theDoctor said...


Mind your pennies and pence, and your pounds will take care of themselves....

It doesn't take long to collect a bucket of change

A bucket of change adds up to a few hundred bucks..



I had a full 2lt tin full of change that came to $950

I had saved the 5c coin and kept them seperate and that came to just over $50

It all adds up quicker than you think!!
Mobydisc
Mobydisc
NSW
9029 posts
Mobydisc Mobydisc
NSW, 9029 posts
21 Aug 2012 11:49am
Mints usually phase out coins because it costs more to make them than what they are worth. It would not surprise me if the 5 cent piece is made of more than 5 cents of metal.

The American nickel, which I think is mostly copper (stupid Americans) is worth a lot more than 5 cents US.

FormulaNova
FormulaNova
WA
15101 posts
FormulaNova FormulaNova
WA, 15101 posts
21 Aug 2012 11:57am
Mobydisc said...

Mints usually phase out coins because it costs more to make them than what they are worth. It would not surprise me if the 5 cent piece is made of more than 5 cents of metal.

The American nickel, which I think is mostly copper (stupid Americans) is worth a lot more than 5 cents US.



I doubt they are stupid. I figure they just started making it when copper was cheaper. Didn't they change the metal composition since then for this very reason? (edit:) It seems, according to Wikipedia, that they haven't changed the base metal mix yet.

Maybe they need a fall in metal costs to let them avoid changing their design?

We had 2 cent pieces that were copper, so were they also a stupid thing to use?
grumplestiltskin
grumplestiltskin
WA
2331 posts
grumplestiltskin grumplestiltskin
WA, 2331 posts
21 Aug 2012 12:14pm
My company was all set to run a competition where you saved up your 5c coins and donated them.

We had a major bank as a sponsor, UNTIL they realised what we were going to do.
Once the heard it involved, potentially, a large amount of 5c coins they were no longer interested.
Apparently its too much hassle to deal with the coins.

Dont know if that means anything, but it appears that the banks arent interested in 5c coins, so inevitably they will be phased out.
Mobydisc
Mobydisc
NSW
9029 posts
Mobydisc Mobydisc
NSW, 9029 posts
21 Aug 2012 2:37pm
FormulaNova said...
I doubt they are stupid. I figure they just started making it when copper was cheaper. Didn't they change the metal composition since then for this very reason? (edit:) It seems, according to Wikipedia, that they haven't changed the base metal mix yet.

Maybe they need a fall in metal costs to let them avoid changing their design?

We had 2 cent pieces that were copper, so were they also a stupid thing to use?



I mean its stupid to nickname a coin after one metal when its actually made out of another metal.

The mint probably stopped minting copper coins when the metal became more valuable than the face value.

SP
SP
10982 posts
SP SP
10982 posts
21 Aug 2012 12:44pm
Get rid off them all, I hate coins.
Simondo
Simondo
VIC
8025 posts
Simondo Simondo
VIC, 8025 posts
21 Aug 2012 3:04pm
In Tokyo they use a Scan Card system which heaps of places accept. You use it for public transport, at the bakery, and the supermarket, at vending machines, at some restaurants, etc. Heaps easier than coins! You can even load your spare coins onto the card.

Japan still fluffs around with the 1 Yen coin. Basically a 1 cent coin. Technically 1.25 cents equivalent. They also have a $5 coin.
Captain_Morg
Captain_Morg
TAS
739 posts
Captain_Morg Captain_Morg
TAS, 739 posts
21 Aug 2012 3:19pm
SP said...

Get rid off them all, I hate coins.

I agree notes are way better

CMC
CMC
QLD
3954 posts
CMC CMC
QLD, 3954 posts
21 Aug 2012 3:26pm
I'm all for the barcode on my arm. Not fussy if it's visible.

Then we won't need any coins, or licences, or medicare. It will be cool.
evlPanda
evlPanda
NSW
9207 posts
evlPanda evlPanda
NSW, 9207 posts
21 Aug 2012 4:32pm
doggie said...

theDoctor said...


Mind your pennies and pence, and your pounds will take care of themselves....

It doesn't take long to collect a bucket of change

A bucket of change adds up to a few hundred bucks..



I had a full 2lt tin full of change that came to $950

I had saved the 5c coin and kept them seperate and that came to just over $50

It all adds up quicker than you think!!


Go to strip club with 2lt tin full of change > Make it rain!
doggie
doggie
WA
15849 posts
doggie doggie
WA, 15849 posts
21 Aug 2012 2:50pm
evlPanda said...

doggie said...

theDoctor said...


Mind your pennies and pence, and your pounds will take care of themselves....

It doesn't take long to collect a bucket of change

A bucket of change adds up to a few hundred bucks..



I had a full 2lt tin full of change that came to $950

I had saved the 5c coin and kept them seperate and that came to just over $50

It all adds up quicker than you think!!


Go to strip club with 2lt tin full of change > Make it rain!



Golden
CJW
CJW
NSW
1731 posts
CJW CJW
NSW, 1731 posts
21 Aug 2012 6:40pm
Just be thankful we no longer have the 1c and 2c coin! Having just returned from the US where having a handful of 1c coins handed to you in change is par for the course it can only be described as annoying. Might be a sneaking business decision though, I just preceded to dump the entirety of any coins I received into their tip jars effectively rounding anything purchased up to the nearest dollar

Bring on the digital wallet I say.
geared4knots
geared4knots
TAS
2649 posts
geared4knots geared4knots
TAS, 2649 posts
21 Aug 2012 6:49pm
Ok. so when are we going to bring in the $200.oo note., or should it be $500.
Now that would piss you off if you lost one of those out of ya pocket while paying for a burger at some seady joint late Saturday night
Mark _australia
Mark _australia
WA
23682 posts
Mark _australia Mark _australia
WA, 23682 posts
21 Aug 2012 5:34pm
^^^^ well we already have the $200 coin and it is legal tender. Just that there is not a lot around. And you'd be dumb to use it for a $200 transaction when it is worth about $500+ hahaha


maybe they should mint a few more..?
geared4knots
geared4knots
TAS
2649 posts
geared4knots geared4knots
TAS, 2649 posts
21 Aug 2012 8:02pm
Is that why when i mistakenly sold my $200.00 coin at my garage sail for $10.00 the guy had a big smile on his face
pierrec45
pierrec45
NSW
2005 posts
pierrec45 pierrec45
NSW, 2005 posts
21 Aug 2012 8:06pm
Didn't we have this same conversation right here around 1987 for the 1c piece?
geared4knots
geared4knots
TAS
2649 posts
geared4knots geared4knots
TAS, 2649 posts
21 Aug 2012 8:16pm
pierrec45 said...

Didn't we have this same conversation right here around 1987 for the 1c piece?

sorry, my bbc computer was not connected to the non existant net then.

but yes i think from memory was that about when the $2.00 coin came in ?.
i remembrer sitting in the matric library and all us nerds celebrating!!
ha ha

Spocktek
Spocktek
WA
281 posts
Spocktek Spocktek
WA, 281 posts
21 Aug 2012 7:57pm
Simondo said...

In Tokyo they use a Scan Card system which heaps of places accept. You use it for public transport, at the bakery, and the supermarket, at vending machines, at some restaurants, etc. Heaps easier than coins! You can even load your spare coins onto the card.

Japan still fluffs around with the 1 Yen coin. Basically a 1 cent coin. Technically 1.25 cents equivalent. They also have a $5 coin.



Did you go to Japland for the snow? I was thinking of heading over Jan '03 for a sesh but wanna find out as much as possible, like price of beer?

(sorry for changing topic)

fingerbone
fingerbone
NSW
921 posts
fingerbone fingerbone
NSW, 921 posts
21 Aug 2012 10:28pm
I pick them up and give them to my Kids....I am not to proud to pick up money.
kk
kk
WA
953 posts
kk kk
WA, 953 posts
21 Aug 2012 9:02pm
My missus raids all mine and donates them to the 5cents for 5 senses charity, I'm not sure what it's all about, cause I don't really listen. But I think it's about kids that lack one of the 5 senses.... Like hearing.... sight etc Must be a great cause, that's why I support it
Scotty88
Scotty88
4214 posts
Scotty88 Scotty88
4214 posts
21 Aug 2012 10:16pm
I hate 5 cents and they can fark off all silver coins and be done with it.
Round everything down to nearest dollar I say.
GypsyDrifter
GypsyDrifter
WA
2371 posts
GypsyDrifter GypsyDrifter
WA, 2371 posts
22 Aug 2012 4:09pm
Not pick them up! what the!
I Will nearly always pick them up, don't care what people think of me...
kiteboy dave
kiteboy dave
QLD
6525 posts
kiteboy dave kiteboy dave
QLD, 6525 posts
22 Aug 2012 7:48pm
Eventually it's gonna go.

I was just thinking the other day, $5 is the new $2.

Specifically, I wanted a milkshake at the local (to work) fish and chippie. Five bucks, thickshake $6.50, extra scoop ice cream $2. That floored me, $8.50 for a thickshake with the works.

When I was a lad, we had 1/2 cent lollies, that's right kids, 2 for a cent!
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