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5 cent is dying , 10c will be next ......tasman1

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#1 by tasman1 » Thu Feb 06, 2020 15:48

They say they will cut 5 cent coin and 10 cent coin will follow ................ no inflation ??????

tasman1 say ... soon 100 buck will have no value here


According to the chief executive of the Royal Australian Mint, Ross MacDiarmid, Australians are simply not finding much use for loose change anymore.

Demand for coins has dropped by roughly 55 per cent in the last five years, and much of that was for silver coins.

We've worked on the basis that somewhere in the next five to 10 years, the 5 cent coin will probably just cease to be used.

And the 10 cent coin will likely go in the same direction, he said.

Retailers more than likely would be the ones that would stimulate a decline in the demand for 5c pieces, because if you rounded up to 10 [cents] there's not really much need for a five.

I think over time, they will die naturally.
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#2 by valerie » Thu Feb 06, 2020 18:03

Well I tell ya, I save my coins and my one dollar bills.

I don't think about it. I don't focus on saving any of it. If I have it, I save it.

After I have a few hundred dollar bills saved, I spend it.

The coins, I save them for a very very long time.

What I have noticed, is exactly what you just posted here.

The least coins I ever have is nickels. You see when I get change, I just toss it in my handbag.
Then after awhile I will empty out the change from the bottom of my handbag. The majority of
the coins are quarters and pennies. Then comes dimes and the very least is nickels.

The nickels are a pretty much worthless coin these days. When I was a child, I could buy a lot
of stuff with a nickel. I could buy a candy bar. Candy bars were .5 cents in the 60's. I could
buy a little bag of potato chips for .5 cents.

"Nickels minted in the United States between 1942 and 1945 are made of 35% silver. These are commonly known as "silver war nickels." Normally all other nickels are composed of 75% copper and 25% nickel."
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#3 by chandramohancc » Fri Feb 07, 2020 03:02

Oh common sense
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#4 by josealvesjr » Fri Feb 07, 2020 03:46

Maybe Australia switches to coins made out of COAL their government must find that an exellent idea, but I guess not. Constantly washing your hands and clothing which requires water which nowadays is mostly a commodity worth more than gold.
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#5 by lucky35 » Fri Feb 07, 2020 09:50

Canada got rid of the penny a number of years ago. I don't even miss it. However we have a lot of coins. We have the lonnie ($1.00) and the Tonnie ($2.00). They have even talked about putting the $5.00 bill into a coin. I don't think that will happen though. So there is a lot of change here. The change gets heavy so I dump it into jars. I have cashed in over $500 in change in the past few weeks. Will help for a trip.
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#6 by valerie » Fri Feb 07, 2020 11:30

lucky35 wrote: Canada got rid of the penny a number of years ago. I don't even miss it. However we have a lot of coins. We have the lonnie ($1.00) and the Tonnie ($2.00). They have even talked about putting the $5.00 bill into a coin. I don't think that will happen though. So there is a lot of change here. The change gets heavy so I dump it into jars. I have cashed in over $500 in change in the past few weeks. Will help for a trip.

That's cute.... lonnie and tonnie. So is the lonnie and the tonnie coins?
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#7 by lucky35 » Fri Feb 07, 2020 12:04

Yes, they are coins, no more paper $1 or paper $2.
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#8 by dutch1898 » Fri Feb 07, 2020 13:53

It is loonie and Toonie coins not to be confused with loney tunes. :lol:
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#9 by tasman1 » Fri Feb 07, 2020 14:46

LOONIE[ loony ] .......Definition

loony - someone deranged and possibly dangerous crazy, looney, nutcase, weirdo colloquialism - a colloquial expression; characteristic of spoken or written communication that seeks to imitate informal speech

Hi Canadians ,,, looks like your money is deranged , ....... is that a reason you do not have it in pocket ??????
Your rich do not care , they got a lot , loonie , in their pocket :mrgreen: :mrgreen:
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#10 by valerie » Fri Feb 07, 2020 15:12

So is nothing .1 cent?

How would you receive change if you spend .63 cents of a lonnie?

Why am I thinking about my cousin Bonnie?
I never had a sister in law name Connie.
Even had a cousin name Donnie.
A guy name Jonnie ask me out once.
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#11 by tasman1 » Fri Feb 07, 2020 15:15

valerie wrote: So is nothing .1 cent?

How would you receive change if you spend .63 cents of a lonnie?

Why am I thinking about my cousin Bonnie?
I never had a sister in law name Connie.
Even had a cousin name Donnie.
A guy name Jonnie ask me out once.




In Australia

63 cent now you pay 65 cent ..... 62 cent , you pay 60 cent
once 5 cent is gone
63 cent you pay 60 cent ......66 cent and above you pay 70 cent ...................think it is same in Canada
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#12 by Darkstar2 » Fri Feb 07, 2020 18:46

Here it is the opposite, many years ago they abolished the $1 and $2 bill and replaced them with $1 and $2 coins.....
Fast forward a few years later to now, and many stores already have stopped accepting CASH, even if paper money is legal tender, apparently stores can refuse it, some even refusing cash and credit, you could only shop with your debit card or mobile wallet .......

Coins will do you no good, you can't do much with 5c and 10c nowadays, coins are used mostly for paying the correct amount to items which use cents, for example $7.05, etc. Those who do not have a mobile or are not fans of linking their bank accounts and CC on their mobile will find it very difficult in years to come.

Paper money is disappearing, and so are cashiers, self service will be common, at least we won't have to deal with rude or incompetent cashiers
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#13 by valerie » Fri Feb 07, 2020 19:46

It's scary!
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#14 by tasman1 » Fri Feb 07, 2020 19:54

Darkstar2 wrote: Here it is the opposite, many years ago they abolished the $1 and $2 bill and replaced them with $1 and $2 coins.....
Fast forward a few years later to now, and many stores already have stopped accepting CASH, even if paper money is legal tender, apparently stores can refuse it, some even refusing cash and credit, you could only shop with your debit card or mobile wallet .......

Coins will do you no good, you can't do much with 5c and 10c nowadays, coins are used mostly for paying the correct amount to items which use cents, for example $7.05, etc. Those who do not have a mobile or are not fans of linking their bank accounts and CC on their mobile will find it very difficult in years to come.

Paper money is disappearing, and so are cashiers, self service will be common, at least we won't have to deal with rude or incompetent cashiers





You right , I will convert my PayPal to rubbish tip for cents and I will accept all cents in the world no matter from where they come , in exchange they like virtual money so they can have all my tasman1coins
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#15 by lucky35 » Fri Feb 07, 2020 20:32

The change is just rounded off. I haven't had any trouble in Manitoba using change and dollar bills. However our dollar bills are plastic now. One guy was at Dollarama here and pulled his five dollar bill out of his pocket and it had melted. You cannot get this plastic money close to heat. They should have stayed with paper. I guess they thought the plastic would last longer and maybe so as long as it doesn't melt.
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#16 by Darkstar2 » Fri Feb 07, 2020 21:24

lucky35 wrote: The change is just rounded off. I haven't had any trouble in Manitoba using change and dollar bills. However our dollar bills are plastic now. One guy was at Dollarama here and pulled his five dollar bill out of his pocket and it had melted. You cannot get this plastic money close to heat. They should have stayed with paper. I guess they thought the plastic would last longer and maybe so as long as it doesn't melt.

They are polymer and they use this to cut on counterfeit bills. As far as melting, Bank of Canada denies this and they claim they have not seen any evidence of heat causing them to melt, of course what do we expect from one of the biggest, corrupted industries, banks, we cannot expect them to be transparent about anything. For most people in Canada, they won't have time to melt, our governments are making sure that we don't have much money left anyways :P and as to the wealthy, they use mostly a different kind of plastic, credit cards :D

I have yet to have a single note melt on me - so I wonder about the circumstances around what causes them to melt, perhaps left in direct sun light for an extended period of time...........
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#17 by valerie » Fri Feb 07, 2020 21:44

lucky35 wrote: The change is just rounded off. I haven't had any trouble in Manitoba using change and dollar bills. However our dollar bills are plastic now. One guy was at Dollarama here and pulled his five dollar bill out of his pocket and it had melted. You cannot get this plastic money close to heat. They should have stayed with paper. I guess they thought the plastic would last longer and maybe so as long as it doesn't melt.

Are you kidding me? That is so wildly insane! :o
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#18 by chandramohancc » Fri Feb 07, 2020 23:10

hi hi hi common sense
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#19 by lucky35 » Sat Feb 08, 2020 00:11

Just before I came to the cashier the incident of the bill melting did happen, Darkstar 2. Just keep your bills away from heat.
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#20 by tasman1 » Sat Feb 08, 2020 00:40

lucky35 wrote: Just before I came to the cashier the incident of the bill melting did happen, Darkstar 2. Just keep your bills away from heat.




Yep , do not start fire with that money
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