The 5 cent coin is under fire, with many people arguing that it's time for it to go. On the social media site Reddit, the original poster (OP) writes: "I'm old enough to remember when they canned the 1 and 2 cent coins and it was fantastic. No more bronze shrapnel filling up your pockets.

Now I reckon it is well past time that we got rid of the 5 cent coin as well. Especially with the rising cost of living and inflation. What can you even buy these days for 5 cents? Literally nothing. They're just a pain the ***, get rid of them."

The OP's comments have sparked a heated debate, with some people agreeing that the 5 cent coin is no longer relevant, and others arguing that getting rid of it would be a bad idea.

One commenter writes: "The relative purchasing power of 5c is less now than 2c was at the phase out." This is a controversial point. While it is indeed true that when the 1 and 2 cent coins were phased out in 1992, the relative value of 5 cents was much higher than it is now, the RBA’s inflation calculator indicates that 2c in 1992 is actually the equivalent of about 4c in today’s dollars.

​

Another commenter, who claims to be a former cab driver, also supports retiring the 5c coin. "I drove cabs for a while back in the late 90's and early 2000's - back then it was common for people to tip their cabbie by emptying out all the shrapnel they had in their pockets from a night of drinking.

Almost 20 years later and I still haven't managed to get rid of all my 5 cent pieces - I keep chipping away at them but exclusively use them now to buy rolling papers from the servo.

I took a bunch into the bank but there's a limit on how much time both me and the bank were willing to spend putting them through that machine of theirs."

A third user quipped, "As an expat kiwi I agree 100% . NZ got rid of their 5c pieces and shrunk all of the other coins. While we are at it though can we swap the $1 & $2 dollar coin sizes around too."

But the idea of getting rid of the 5c coin is not without its detractors. One commenter writes: "Don't want your 5 cent pieces , send them to me I'll take them."

​

Credits: Shutterstock​

Another user, responding to numerous comments from people saying that they thought all cash was obsolete hit back:

"Anyone saying “who still uses cash” doesn’t go to Op Shops, food trucks, Facebook marketplace sales, garage sales, swap meets. Sure, they can have card readers.

But if they don’t, you’re in trouble. And it’s far easier to overspend with the magical plastic card than a physical representation of your money."

A final commenter highlighted the nostalgia value of the humble coin. "Got no issues with the 5c coin... absolutely no beef. It does not make or break my life. If anything it’s a positive that it’s still around. Even if you can buy not much with it.

Remember when you were a kid and found some shrapnel on the street? You’d happily have pocketed it, collected/saved it and then spent it at your local deli."

So what do you think? Should the 5 cent coin be retired? Or is it an important part of our nation's history? Share your thoughts in the comments below.

 

[Esma Rose]

I am STILL a believer in the 5 cent coin. Although it has a moderate value, 4 DOES give you the value of 20 cents to teach children the value of money & it's REAL for kids to have values. I rather like the workmanship in such a coin too. The thought of dealing in all notes in a few years time won't be my problem as I will be long gone. Glad they phased out the threepence coin because it was fiddly in a woman's purse & difficult to handle. haha. I handled "a penny "also & thought of the two coins being handled together again. ha ha. Just not on. We sure made the proper moves @ the right time.

 

[Pommyoz]

I don't mind them, comes in handy for op shopping, quick snack from mac as, my money box likes them, doesn't take long to get a dollar.

 

[Luckyus]

Should we say goodbye to the Australian 5 cent coin? Here's what the internet thinks​

The 5 cent coin is under fire, with many people arguing that it's time for it to go. On the social media site Reddit, the original poster (OP) writes: "I'm old enough to remember when they canned the 1 and 2 cent coins and it was fantastic. No more bronze shrapnel filling up your pockets.

Now I reckon it is well past time that we got rid of the 5 cent coin as well. Especially with the rising cost of living and inflation. What can you even buy these days for 5 cents? Literally nothing. They're just a pain the ***, get rid of them."

The OP's comments have sparked a heated debate, with some people agreeing that the 5 cent coin is no longer relevant, and others arguing that getting rid of it would be a bad idea.

One commenter writes: "The relative purchasing power of 5c is less now than 2c was at the phase out." This is a controversial point. While it is indeed true that when the 1 and 2 cent coins were phased out in 1992, the relative value of 5 cents was much higher than it is now, the RBA’s inflation calculator indicates that 2c in 1992 is actually the equivalent of about 4c in today’s dollars.

​

​

Another commenter, who claims to be a former cab driver, also supports retiring the 5c coin. "I drove cabs for a while back in the late 90's and early 2000's - back then it was common for people to tip their cabbie by emptying out all the shrapnel they had in their pockets from a night of drinking.

Almost 20 years later and I still haven't managed to get rid of all my 5 cent pieces - I keep chipping away at them but exclusively use them now to buy rolling papers from the servo.

I took a bunch into the bank but there's a limit on how much time both me and the bank were willing to spend putting them through that machine of theirs."

A third user quipped, "As an expat kiwi I agree 100% . NZ got rid of their 5c pieces and shrunk all of the other coins. While we are at it though can we swap the $1 & $2 dollar coin sizes around too."

But the idea of getting rid of the 5c coin is not without its detractors. One commenter writes: "Don't want your 5 cent pieces , send them to me I'll take them."

​

View attachment 3898
Credits: Shutterstock​

Another user, responding to numerous comments from people saying that they thought all cash was obsolete hit back:

"Anyone saying “who still uses cash” doesn’t go to Op Shops, food trucks, Facebook marketplace sales, garage sales, swap meets. Sure, they can have card readers.

But if they don’t, you’re in trouble. And it’s far easier to overspend with the magical plastic card than a physical representation of your money."

A final commenter highlighted the nostalgia value of the humble coin. "Got no issues with the 5c coin... absolutely no beef. It does not make or break my life. If anything it’s a positive that it’s still around. Even if you can buy not much with it.

Remember when you were a kid and found some shrapnel on the street? You’d happily have pocketed it, collected/saved it and then spent it at your local deli."

So what do you think? Should the 5 cent coin be retired? Or is it an important part of our nation's history? Share your thoughts in the comments below.

​

In tomorrows climes you'll wish you still had the five cent piece, If they do go ahead and get rid of it you can guarantee that the price of everything will go up, there won't be any rounding down as it is now?.

 

[Warwick Howlett]

Put them into an empty 600ml coke bottle. An easy way to save $40.

Do the same with $2 and collect $1000. !!

 

[Yani]

Give them to charity collection boxes. They will go to a good use and help those less fortunate.

 

[MIZMAC]

Should we say goodbye to the Australian 5 cent coin? Here's what the internet thinks​

The 5 cent coin is under fire, with many people arguing that it's time for it to go. On the social media site Reddit, the original poster (OP) writes: "I'm old enough to remember when they canned the 1 and 2 cent coins and it was fantastic. No more bronze shrapnel filling up your pockets.

Now I reckon it is well past time that we got rid of the 5 cent coin as well. Especially with the rising cost of living and inflation. What can you even buy these days for 5 cents? Literally nothing. They're just a pain the ***, get rid of them."

The OP's comments have sparked a heated debate, with some people agreeing that the 5 cent coin is no longer relevant, and others arguing that getting rid of it would be a bad idea.

One commenter writes: "The relative purchasing power of 5c is less now than 2c was at the phase out." This is a controversial point. While it is indeed true that when the 1 and 2 cent coins were phased out in 1992, the relative value of 5 cents was much higher than it is now, the RBA’s inflation calculator indicates that 2c in 1992 is actually the equivalent of about 4c in today’s dollars.

​

​

Another commenter, who claims to be a former cab driver, also supports retiring the 5c coin. "I drove cabs for a while back in the late 90's and early 2000's - back then it was common for people to tip their cabbie by emptying out all the shrapnel they had in their pockets from a night of drinking.

Almost 20 years later and I still haven't managed to get rid of all my 5 cent pieces - I keep chipping away at them but exclusively use them now to buy rolling papers from the servo.

I took a bunch into the bank but there's a limit on how much time both me and the bank were willing to spend putting them through that machine of theirs."

A third user quipped, "As an expat kiwi I agree 100% . NZ got rid of their 5c pieces and shrunk all of the other coins. While we are at it though can we swap the $1 & $2 dollar coin sizes around too."

But the idea of getting rid of the 5c coin is not without its detractors. One commenter writes: "Don't want your 5 cent pieces , send them to me I'll take them."

​

View attachment 3898
Credits: Shutterstock​

Another user, responding to numerous comments from people saying that they thought all cash was obsolete hit back:

"Anyone saying “who still uses cash” doesn’t go to Op Shops, food trucks, Facebook marketplace sales, garage sales, swap meets. Sure, they can have card readers.

But if they don’t, you’re in trouble. And it’s far easier to overspend with the magical plastic card than a physical representation of your money."

A final commenter highlighted the nostalgia value of the humble coin. "Got no issues with the 5c coin... absolutely no beef. It does not make or break my life. If anything it’s a positive that it’s still around. Even if you can buy not much with it.

Remember when you were a kid and found some shrapnel on the street? You’d happily have pocketed it, collected/saved it and then spent it at your local deli."

So what do you think? Should the 5 cent coin be retired? Or is it an important part of our nation's history? Share your thoughts in the comments below.

​

5c coins are great for fundraising for worthy causes. Is amazing how much can be raised with the 5c coin.

 

[dabemu5570]

Should we say goodbye to the Australian 5 cent coin? Here's what the internet thinks​

The 5 cent coin is under fire, with many people arguing that it's time for it to go. On the social media site Reddit, the original poster (OP) writes: "I'm old enough to remember when they canned the 1 and 2 cent coins and it was fantastic. No more bronze shrapnel filling up your pockets.

Now I reckon it is well past time that we got rid of the 5 cent coin as well. Especially with the rising cost of living and inflation. What can you even buy these days for 5 cents? Literally nothing. They're just a pain the ***, get rid of them."

The OP's comments have sparked a heated debate, with some people agreeing that the 5 cent coin is no longer relevant, and others arguing that getting rid of it would be a bad idea.

One commenter writes: "The relative purchasing power of 5c is less now than 2c was at the phase out." This is a controversial point. While it is indeed true that when the 1 and 2 cent coins were phased out in 1992, the relative value of 5 cents was much higher than it is now, the RBA’s inflation calculator indicates that 2c in 1992 is actually the equivalent of about 4c in today’s dollars.

​

​

Another commenter, who claims to be a former cab driver, also supports retiring the 5c coin. "I drove cabs for a while back in the late 90's and early 2000's - back then it was common for people to tip their cabbie by emptying out all the shrapnel they had in their pockets from a night of drinking.

Almost 20 years later and I still haven't managed to get rid of all my 5 cent pieces - I keep chipping away at them but exclusively use them now to buy rolling papers from the servo.

I took a bunch into the bank but there's a limit on how much time both me and the bank were willing to spend putting them through that machine of theirs."

A third user quipped, "As an expat kiwi I agree 100% . NZ got rid of their 5c pieces and shrunk all of the other coins. While we are at it though can we swap the $1 & $2 dollar coin sizes around too."

But the idea of getting rid of the 5c coin is not without its detractors. One commenter writes: "Don't want your 5 cent pieces , send them to me I'll take them."

​

View attachment 3898
Credits: Shutterstock​

Another user, responding to numerous comments from people saying that they thought all cash was obsolete hit back:

"Anyone saying “who still uses cash” doesn’t go to Op Shops, food trucks, Facebook marketplace sales, garage sales, swap meets. Sure, they can have card readers.

But if they don’t, you’re in trouble. And it’s far easier to overspend with the magical plastic card than a physical representation of your money."

A final commenter highlighted the nostalgia value of the humble coin. "Got no issues with the 5c coin... absolutely no beef. It does not make or break my life. If anything it’s a positive that it’s still around. Even if you can buy not much with it.

Remember when you were a kid and found some shrapnel on the street? You’d happily have pocketed it, collected/saved it and then spent it at your local deli."

So what do you think? Should the 5 cent coin be retired? Or is it an important part of our nation's history? Share your thoughts in the comments below.

​

we must keep the 5 cent. so what if fuel goes up 2cents(do we now call it 10cents?...we. need the5 cent for a costing device, an item costing 3 cent s will then be 10 cents, very inflationary think about it...dabemu5570