Bye Bye 5 cent pieces

Discussion in 'Currencies' started by JulieW, Feb 14, 2016.

  1. JulieW

    JulieW Well-Known Member Silver Stacker

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  2. Beyond

    Beyond Well-Known Member

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    i hate to use 5c
     
  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    Take care of the pennies.........
     
  4. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    I was at a city convenience store a few weeks ago and the electronic payment system had just gone down. The two people in front of me had to leave without buying their small item (a drink or something). They did not even have $5 in cash in their pocket. Nothing. People are increasingly using contactless payment cards for everything.
     
  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    That could have been me. :D
    I rarely carry cash, not even 5 bucks. :cool:
     
  6. DanielM

    DanielM Active Member Silver Stacker

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    I think I hold the record. 50c cone from McDonald's on credit card
     
  7. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    I still use them. Does that mean that those such as me who try to post with cash now have to round to the nearest 10 cents? So I lose another 4 cents.

    :)
     
  8. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Good, because the past year I been collecting and buying rare 1972 5 cent coins just for this reason.
     
  9. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    That's the idea....

    Left, Right & Center keep losing them all
     
  10. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    :lol:
     
  11. systematic

    systematic Well-Known Member

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    This may have more to do with the maker wanting to avoid its contractual obligation to provide a currency with a production cost threatening its face value ... they deserves no sympathy ...
     
  12. SilverDJ

    SilverDJ Well-Known Member

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    I hope they learned valuable lesson.
     
  13. SilverDJ

    SilverDJ Well-Known Member

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    Likely the opposite. $9.95 items will get rounded down to $9.90.
    Only a fool would increase the price to $10, that psychological ploy still works, so the extra sales would offset the new loss, no problem.
     
  14. bunyip

    bunyip New Member

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    The reason 5c coins are out of fashion is because the parking meters accept nothing less than a 10c piece.
    the most abundant place to dispose of the small change does not accept them.
     
  15. raven

    raven Well-Known Member Silver Stacker

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    I'm gonna stack 'em !
    :)
     
  16. tozak

    tozak Well-Known Member Silver Stacker

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    Only fair if you remove the 5c piece due to inflation then you introduce a $500 note at the same time
     
  17. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Just waiting for Australia to be completely sold off to foreign interests, then they can issue the new notes.

    [​IMG]
     
  18. Proper Gander

    Proper Gander New Member

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    I've got a huge bucket of them for the reason mentioned above parking meters and vending machine don't accept them any more.

    Out of interest, are the old 1 and 2c pieces worth more than 1 and 2c these days?
     
  19. Killface

    Killface Well-Known Member Silver Stacker

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    Well good riddance, everyone knows these small denomination coins support international terrorism, arms and drug dealing and money laundering!
     
  20. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    They are still legal tender in Canada, just stopped issuing them.

    Any turned over to a Canadian financial institution are sent back to Bank of Canada (Reserve Bank) for destruction; the usual excuses (oh-ah-organized crime, money laundering blablabla) were cited.
     

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