Australia: Is this the end of the five cent piece?

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Speculation is rife that the Turnbull Government’s first Budget could sound the death knell for Australia’s five cent piece. The Royal Australian Mint revealed during a Senate Estimates hearing in 2014 that it actually cost six cents to produce the five cent piece. “It is actually in decline, which is why it is probably an appropriate time for us to be doing a review,” Mint chief executive Ross MacDiarmid said at the time. The possible discontinuation of the silver coin was again raised on the five cent piece’s 50th anniversary in February. Read Article