Rising metal prices spell end for small tender
Tuesday 28 June 2011 - by Regulation Mutters
Australia may have to scrap its five cent coin due to rising metal prices, the country's Treasury has admitted.
Given the rampant rise of commodity prices, the Mutterer wonders whether other countries could soon follow suit?
Could we soon see the end of the one penny piece in the UK or the lucky dime in America? (The euro of course has other more pressing existential worries).
Postscript: Curiously, the Mutterer notes that under the Currency Act 1965, if you present more than five dollars worth of five cent coins to a shopkeeper in Australia, he or she has the right to refuse your custom.
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