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Jonathan


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** Hang on to your 5 Cent coins ..
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hiyas all ..

I just got a whisper from a friend of mine who is usually a pretty straight talker ..

She says that as the value of the 5 Cent coin is now dramatically higher than the face value, within 12 months it will be difficult to find one ..

There's a glut of 'em at the moment, but remember the rounded 50 Cent coin and how quickly it disappeared ?

.. in our current world economy, I'd venture to say she may be right ..

grab a few .. save 'em for the Grand-kids ..

 



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Santa


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Sounded like a Furphy to me Jonathan so Googled it.

The bullion value of the coin is only a little 50% of its value.

Wonder how these things get started.

http://en.wikipedia.org/wiki/Australian_five-cent_coin



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Santa.

Moonta, Copper Coast, South Aust.
Pejay


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I heard it too Jonathan, apparently it costs more to make them than the actual value of the 5c coin.

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Jonathan


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I think it will be interesting too ..

I had already read the "Wiki" details on this .. and they are great at presenting facts.

Facts are only relevant to the current and past circumstances .. it doesn't predict the future ..

Yep .. I'll be watching it out of interest ..



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Santa


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To this day the mint is striking 80 million 5 cent pieces per year, hardly bodes well for rarity.smile



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Santa.

Moonta, Copper Coast, South Aust.
rockylizard


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Gday...

It is a proposal .... let's hope it doesn't happen .... guess it will be "rounding" to the next 10c cry

No more prices ending in $.05c cry

http://www.smh.com.au/national/royal-mint-wants-5-coins-scrapped-20110625-1gl5b.html

And as an aside, it will a very long time before a 'collected' 5c coin will have any additional value to collectors. There are just too many in circulation already.

cheers - John



-- Edited by rockylizard on Friday 6th of June 2014 11:19:43 AM

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DeBe


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I think we need to realise a coin or paper money are realy only tokens, & as such can be devalued at any time. just a thaught.



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barina


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I have a bank coin bag full of 1 and 2 cent coins that my son collected!!!

They just sit in the bottom of the cupboad too heavy to do anything a bout....biggrin



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Judy

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neilnruth


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rockylizard did you realise that link was 2011? Have they been trying to scrap it since then? Yesterday's news said it cost 6c to make - but they're still going to make more and said over a million go missing every year. Overseas tourists got some of the blame.

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rockylizard


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Gday...

Well I'll be confuse .... I had heard the news about the 5c coin on the radio yesterday ... I didn't even look at this article date.

Interestingly, it says that "If Mr Shorten accepts the plan, the decision would need cabinet approval and legislation would need to be passed by Parliament."

Given Little Short Billy wasn't leader of the opposition in 2011, I assumed it was current. Ya can't trust no-one no more cry

Cheers - John



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Vic41


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Apparently they are looking at updating the size etc of the present coins and are going to ask for public input.   I hope they make the $2 coin bigger they are too easy to lose at the size they are and too close to the current 5 cents.

 

 



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grahos


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That won't be a problem if the 5cents goes.wonder if the fuel will round off in 10 cent ranges,crazy
how there can be .99 of a cent these modern days.

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rockylizard


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barina wrote:

I have a bank coin bag full of 1 and 2 cent coins that my son collected!!!

They just sit in the bottom of the cupboad too heavy to do anything a bout....biggrin

 Gday...

Check em out ... you could be sitting on a fortune

http://www.aussiecoins.com/decimals.html

Cheers - John

 



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OMD


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Hi all, was on the box other night on the news if I remember right, it cost 6 cents to make the 5 cent coin and they are looking at down sizing all the other coins as well. But they are only looking at removing the 5 cent, but u can't carry on making something that costs more than it is worth "true"
Pete

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Vic41


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rockylizard wrote:
barina wrote:

I have a bank coin bag full of 1 and 2 cent coins that my son collected!!!

They just sit in the bottom of the cupboad too heavy to do anything a bout....biggrin

 Gday...

Check em out ... you could be sitting on a fortune

http://www.aussiecoins.com/decimals.html

Cheers - John

 

Thanks for the link John, great info there smile 



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barina


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Thanks I will check out the link.   Would be nice if it is a goldmine, could hurry up my plans...biggrinbiggrinbiggrinbiggrin

Glad my son cannot see this.....smile



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Judy

"There is no moment of delight in any journey like the beginning of it"
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