Future unsure for humble 5c coin
THE days of offering a penny for your thoughts have long gone the way of the dodo and soon, so may the days of having your five cents' worth.
Seen these days as a jar-filler, the once-popular five cent piece that could purchase mixed lollies and other treats for kids in its heyday, might be shutting up shop for good, following the lead of the one and two cent pieces, which were made redundant in 1991.
With debate raging around the fate of our possum encrusted friend leading into last week's Federal Budget release, a decision is yet to be made, but the future remains unknown.
While retailers like Fingal trading Post Owner Dai Roberts can no longer offer the five cent sweet that was readily available in a bygone era, the coin still finds its way into the till, and can be a handy addition when parents send the kids for a lolly or newspaper run.
"Kids leave five cents on our tables regularly, but they do use them when parents empty the pockets, so there's still plenty around," Mr Roberts said.
"You even get people using five cents to buy the paper and they may as well give them to us as you can't use them for too much these days."
Mr Roberts said the minimum price for a lolly was now 10 cents and while the five cent piece could still be used, there generally wouldn't be any impact if it was to go out of circulation.
The Mint made 58.2 million five cent coins in 2014 and it's understood they are still being produced, with 20 million made in the latest batch.
Five facts you may not have known about the five cent piece:
- It was first introduced with decimal currency on February 14, 1966.
- The first issue of five cent coins were produced at the Royal Mint in London.
- The original echidna design has not been altered since the coins' introduction.
- No five cent coins were produced from 1985-86.
- The composition of the coin is 75% copper and 25% nickel.