5c Coin to be Scrapped???

[Road_Warrior]

Is Britain still using the 1 and 2p coins?

[Thornie]

Originally Posted by Whiskeyonesix

I've got a huge jar full of 5c pieces at home. One day I'll bag 'em up and take them to the bank but it's good to count out a pile every so often and take them to the local deli in exchange for a chico roll or something.
It keeps the money in circulation which can only be a good thing

Although in a few years I think physical cash will be none existant anyway. I haven't paid cash for anything in about 2 weeks*


*mainly cos im a tight-fisted pom

A mate of mine collects 5c peices for some dumb reason, he has about 5 of those green enviro bags full you can barely lift the things, he has been collecting them for about 10 years or more now lol.

[uranium_death]

Hope to see it go ASAP!

[roberts]

Originally Posted by pottery beige

doesn't look like a conspiracy to me

http://www.youtube.com/watch?v=eob532iEpqk

http://www.youtube.com/watch?v=UDhDr...eature=related

[TheInterceptor]

Originally Posted by xtremerus

snip


Name one thing that you can buy for 5 cents.

A kick in the nuts.

[xtremerus]

Originally Posted by TheInterceptor

A kick in the nuts.

I thought that was free

[xtremerus]

Something it keep in mind.
Quote from the RBA site.

" According to the Reserve Bank Act 1959, Australian banknotes are legal tender. According to the Currency Act 1965, coins are legal tender for payment of amounts which are limited as follows:

* not exceeding 20c if 1c and/or 2c coins are offered (however, it should be noted that these coins have been withdrawn from circulation but are still legal tender);
* not exceeding $5 if any of 5c, 10c, 20c and 50c coins are offered;
* not exceeding 10 times the face value if coins in the range 50c to $10 inclusive are offered; and
* to any value if coins of value greater than $10 are offered."

[Uncle_Ken]

So nothing will cost a Zac anymore, how sad
UK

[malazn mafia]

If they're worth more than 5c, probably get better money as scrap metal

[StrokedXT]

Pretty much use a card for everything dont care much for cash so dont need to worry about rounding.

[blueoval]

Originally Posted by roberts

its very clear that we are moving to a cashless society, where you are payed in credits rather than cash (which isnt backed by anything anyway) people are happy to except credits for goods and services which just helps to blur the lines between the credits you worked for and the credits the bank will lend you in the form of a credit card/s. It is sad really that we work currently for legal tender not money, soon just credits. But i will tell you where we are headed from here, you know that cool chip that just appeared on you new bank card well that's a RFID chip, and now for your convenience (because your so busy working hard for your credits to pay with cash and hold up the line) your can just pay-wave for items under a $100 dollars, we have seen the adds. Thats what the RFID chip is for, but why stop there wouldnt it be cool if you didnt need the card at all just the RFID chip. You wouldnt need a wallet you have no cash you have no cards, your to busy for all that anyway. So where to put the chip its a bit small(RFID chips can be made tiny theres one in you dog for rego) we can just implant that in oh lets say your right hand with your next flu shot.

My mother in law has been blowing that horn for years. It's starting to bug me that she could be right. That, or she is listening to too much Alex Jones and Info Wars. lol.

But yeah I forsee a move towards a cashless society and a bigger control of who gets what and who doesn't. In the end we are giving the government more power in letting them implant RFID chips on our person so that they can or cannot allow us to get everyday items. It's a ploy for more control. Think about it.

*puts flame suit on*

[Lotte]

Originally Posted by xtremerus

Something it keep in mind.
Quote from the RBA site.

" According to the Reserve Bank Act 1959, Australian banknotes are legal tender. According to the Currency Act 1965, coins are legal tender for payment of amounts which are limited as follows:

* not exceeding 20c if 1c and/or 2c coins are offered (however, it should be noted that these coins have been withdrawn from circulation but are still legal tender);
* not exceeding $5 if any of 5c, 10c, 20c and 50c coins are offered;
* not exceeding 10 times the face value if coins in the range 50c to $10 inclusive are offered; and
* to any value if coins of value greater than $10 are offered."

yup, do you know how many people this law allows me to turn away at the register at coles? Yep, I'm THAT chick that looks at you when you try to pay for something worth 50 bucks all in 20c coins and tells you to get the hell away from.

[Riksta]

I remember a drunken night where a mate & I paid $40 for pizza delivery in various denomination coins. We videotaped it too, the pizza guy was not happy but there wasn't much he could do about it.

These days my coin routine is pretty much empty the wallet of silver every night into a container, keep the gold, and every six months or so bag the money up and take it to the bank, exchange for notes and buy myself something I've wanted for a while, usually a DVD or something. Most I ever cashed in one run was about $150 - it was NOT fun carrying that much coin to the bank!

[XESP351]

I was at the bank the other day and a bloke walked up to the coin counter with a trolley that had large bags full of coins on it. He proceeded to put the coins in the machine and kept going and going, approximately $8000 later the machine broke and he was waiting for someone to help him with it.....he was probably halfway through the bags....where does someone get so many freaking coins!!!

[vztrt]

Originally Posted by XESP351

I was at the bank the other day and a bloke walked up to the coin counter with a trolley that had large bags full of coins on it. He proceeded to put the coins in the machine and kept going and going, approximately $8000 later the machine broke and he was waiting for someone to help him with it.....he was probably halfway through the bags....where does someone get so many freaking coins!!!

Vending machines??

[malazn mafia]

Originally Posted by XESP351

I was at the bank the other day and a bloke walked up to the coin counter with a trolley that had large bags full of coins on it. He proceeded to put the coins in the machine and kept going and going, approximately $8000 later the machine broke and he was waiting for someone to help him with it.....he was probably halfway through the bags....where does someone get so many freaking coins!!!

Parking Meters . There was news a few years ago some bloke managed to rig some $280,000 from parking meters in Melbourne.

[LTDHO]

I read the reason for scrapping them was the cost to make them, not whether they were used in circulation. Personally I’d like to see them remain. Sure I have a draw of 5 cent pieces here at work, but they add up. If my purchases were rounded up, then that is less money to the consumer.

[flappist]

Originally Posted by LTDHO

I read the reason for scrapping them was the cost to make them, not whether they were used in circulation. Personally I’d like to see them remain. Sure I have a draw of 5 cent pieces here at work, but they add up. If my purchases were rounded up, then that is less money to the consumer.

Only half are rounded up, the other half are rounded down.

$1.04 => $1.00 a saving of about 3.85%

[aussie muscle]

if they cost too much, start making them out of plastic

Originally Posted by csv8

When it is waved in front of a contactless payment reader, users can make purchases of up to $100 without a PIN or a signature..

i'm getting a card reader next time i have to walk around sydney. might pick up a few credit card numbers

[LTDHO]

Originally Posted by flappist

Only half are rounded up, the other half are rounded down.

$1.04 => $1.00 a saving of about 3.85%

When would you ever see anything advertised for 1.04?
97 to 98 or 1.06 to 1.09 yeah.