The five cent coin may be withdrawn from circulation in Australia in the near future, the
Sydney Morning Herald reported on Saturday. The Australian Mint may confirm the plan today, according to the newspaper.
Following its introduction as part of the switch to decimal currency in 1966 the five cents, like the dollar, now packs less than a tenth of its original purchasing power. The coin rates as a nuisance item for many merchants and consumers.
The Mint still manufactures about 80 million five cent coins a year, according to Wikipedia. At one stage during the 2007 commodities boom the metal value of the coin exceeded its face value.
New Zealand discontinued its five cent coin in 2006.