Should we scrap the 5c coin?

[YELNATS]

Last September Australia Post increased the cost of a stamp for a letter to 55c. Getting rid of the 5c would mean you couldn't just buy one stamp any more.

Alternatively, Aust Post would see it as an invitation to soon increase the price to 60c.

Very inflationary on all fronts.

 

[glads262]

No way to scrapping it! What about when you fill up your car and it comes to xx.x5...which way will you roll the dice? Propose the 'Working Families Gov't' decides that from .5 up is to round up...then do a quick calc...

Fill up car once a week .05 x 52 = $2.60

Add in some groceries once a week .05 x 52 = $2.60

That's a maximum $5.20 a year (and i'm probably missing out on other things!) that working families could quite possibly not go without! There would be a public backlash for sure! So no...keep that big '5 centa' in.

(In all seriousness I actually don't mind the 5 cent coin...comes in handy)

Using these calculations, and adjusting for the number of times 99.9% of people use eft/c/card, it works out to $0 per year...
C'mon all you whingers. We (99.9%) only use cash at the pub, and for fast food/lunch. Most items there end in 10c.
Inflationary impact - VERY minimal as 99.9% of people would see no difference.
How about all the time it takes for all the cashiers everywhere to count their 5c pieces at the end of the day to balance up. Stuffing around getting change from the bank. the RBA/major banks costs of bagging it all up and distributing. This would have productivity gains for the economy. Plus, the govt would probably get $200 mill for the nickel etc in the coins. Less they have to borrow?? Less time printing coins in the Perth mint? Less carbon used making and transporting coins? Need I go on???

 

[Awesomandy]

I still remembered that time when I bought a book from a store for the grand sum of $0.01. It was probably a pricing error, but I just took it to the cashier, and insisted that I "pay" cash for it.

 

[Calliope]

No. Drill a hole in them and they make good washers, and cheaper than Bunnings.

It a funny thing about decimal coins... we never gave them names, and so they will not be missed. We had names for all the imperial currency coins, and they will never be forgotten.

 

[JTLP]

Using these calculations, and adjusting for the number of times 99.9% of people use eft/c/card, it works out to $0 per year...
C'mon all you whingers. We (99.9%) only use cash at the pub, and for fast food/lunch. Most items there end in 10c.
Inflationary impact - VERY minimal as 99.9% of people would see no difference.
How about all the time it takes for all the cashiers everywhere to count their 5c pieces at the end of the day to balance up. Stuffing around getting change from the bank. the RBA/major banks costs of bagging it all up and distributing. This would have productivity gains for the economy. Plus, the govt would probably get $200 mill for the nickel etc in the coins. Less they have to borrow?? Less time printing coins in the Perth mint? Less carbon used making and transporting coins? Need I go on???

My man...I don't know how many times I have to say this...but...

I'm JOE KING

 

[glads262]

My man...I don't know how many times I have to say this...but...

I'm JOE KING

Sorry Dude, I'm waiting on my LNC announcement and I'm a bit jittery. Just get a bit peed off with people bitching about cents when they should be worrying about the dollars... I mean for god sakes. Imagine if we still did have 1c pieces. And remember the bitching that went on when they were removed?? The world was gonna end cos a kilo of apples was still gonna be $1.99 a kilo, but you would have to pay $2 for a kilo, you would only get 998gms of apple for your $1.99. Geez, why not just take the stalks off all of the apples you buy before you put them in the bag to be weighed??

I'm gonna go get a coffee now to calm my nerves...