Leslie Massey
The Australian five-cent coin is the lowest-denomination coin in general circulation since the withdrawal of the one-cent and two-cent coins in 1992. It was first introduced with decimal currency on 14 February 1966 and has been produced by the Royal Australian Mint in Canberra since then, except in 1981. The five-cent piece is made of cupro-nickel and features an echidna (also known as a spiny anteater) on its front side and Queen Elizabeth II on the back.
| Characteristics | Values |
|---|---|
| Year of introduction | 14 February 1966 |
| Denomination | 0.05 Australian Dollar |
| Composition | Copper-nickel |
| Diameter | 19.4 mm |
| Obverse design | Diademed bust of Queen Elizabeth II facing right; around, ELIZABETH II AUSTRALIA (year of minting) |
| Reverse design | Echidna (also known as a spiny anteater) |
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What You'll Learn
The 5 cent coin is made of cupro-nickel
The Australian five-cent coin is made of cupro-nickel, also known as copper-nickel. The five-cent coin was introduced into circulation on 14 February 1966, replacing the pre-decimal sixpence. It has been the lowest-denomination coin in general circulation since the withdrawal of the one-cent and two-cent coins in 1992. The five-cent coin was first introduced with decimal currency and has since been produced by the Royal Australian Mint in Canberra, the Royal Mint in Llantrisant, Wales, and the Royal Canadian Mint.
The cupro-nickel five-cent coin features a design of an echidna (also known as a spiny anteater) on its front side and the backside features HM Queen Elizabeth II, the ruler of Australia. The original reverse design of the echidna has remained unchanged since the coin's introduction, while the obverse design was altered in 2016 to mark the 50th anniversary of decimal currency. The only commemorative coin in this denomination was issued in 2016.
The Royal Australian Mint started issuing these 0.05 Australian Dollar coins in 1966, and they are currently still in circulation. The purchasing power of the five-cent coin has decreased due to inflation, and as of 2018, it represents 0.27% of the country's minimum hourly wage for workers aged 21 or over. Despite the cost of producing the five-cent coin exceeding its value, there are no current plans to withdraw it from circulation.
The cost of producing a five-cent piece varies with fluctuating metal costs, but it is estimated to be around 7 cents. This discrepancy between the face value and production cost has led to discussions about the continued use of the coin. However, as of now, the five-cent coin remains legal tender in Australia, with certain restrictions on its usage outlined in the Currency Act.
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It was introduced in 1966
The Australian five-cent coin was introduced on 14 February 1966, replacing the pre-decimal sixpence. It has been the lowest-denomination coin in general circulation since the withdrawal of the one-cent and two-cent coins in 1992. The five-cent coin was first introduced alongside decimal currency. In its first year of minting, 30 million were struck at the British Royal Mint in London, with an additional 45.4 million produced at the Royal Australian Mint in Canberra. The Australian five-cent coin is made of cupro-nickel, a combination of copper and nickel. It has an echidna (also known as a spiny anteater) on its front side and the head of state, Queen Elizabeth II, on the reverse. The echidna design was created by Geelong-born Dr Stuart Devlin, who also designed the reverses of Australia's first decimal coins in 1963 (released in 1966) and the Sydney 2000 Olympics coin series.
The five-cent coin has been in circulation for over 50 years and is still legal tender in Australia. However, its purchasing power has decreased due to inflation. As of 2018, it represents only 0.27% of the country's minimum hourly wage for workers aged 21 and over. Despite the coin's low value, there are no current plans to withdraw it from circulation. While there are restrictions on how many coins merchants are required to accept, self-serve supermarket cash registers tend to be more lenient, with no software restrictions on the number of five-cent pieces accepted.
The cost of producing the five-cent coin now outweighs the value of the coin itself. Ross MacDiarmid, head of the Commonwealth's Canberra coin factory, stated that it costs approximately seven cents to produce one five-cent coin. Additionally, the price of metal fluctuates, affecting production costs. Despite this, the five-cent coin continues to be produced and circulated in Australia.
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The echidna design has remained since its introduction
The Australian five-cent coin was introduced on 14 February 1966, replacing the pre-decimal sixpence. It is the lowest-denomination coin in general circulation since the withdrawal of the one-cent and two-cent coins in 1992. The five-cent coin was first introduced with decimal currency and has remained in circulation since. The original reverse design of the echidna on standard circulating coins has not been changed since its introduction. The obverse design was, however, altered in 2016 to commemorate the 50th anniversary of decimal currency, but the echidna design on the reverse has remained constant.
The echidna, also known as a spiny anteater, is depicted on the reverse side of the five-cent coin, while the obverse side features the head of state, Queen Elizabeth II. The design was created by Geelong-born Dr Stuart Devlin, an accomplished coin designer. Devlin also designed the reverses of Australia's first decimal coins in 1963 (released in 1966) and the Sydney 2000 Olympics coin series.
The five-cent coin is made of copper-nickel and has a diameter of 19.4 mm. In its first year of minting, 30 million coins were struck at the British Royal Mint in London, with an additional 45.4 million minted at the Royal Australian Mint in Canberra. Since then, with the exception of 1981, the coin has been produced exclusively in Canberra. In 1981, the coin was also produced at the Royal Mint's new headquarters in Llantrisant, Wales, and at the Royal Canadian Mint in Winnipeg.
Despite the declining purchasing power of the five-cent coin due to inflation, it remains legal tender in Australia. There are no current plans to withdraw it from circulation. The cost of producing the five-cent coin now outweighs its value, but it continues to be minted and circulated, with a unique design that has endured for over five decades. The echidna design has become an enduring symbol of Australian currency and culture, and its presence on the five-cent coin is a testament to its iconic status.
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The coin is produced in Canberra
The Australian five-cent coin was introduced into circulation on 14 February 1966. It is the lowest-denomination coin in general circulation since the withdrawal of the one-cent and two-cent coins in 1992. The five-cent coin is made of copper-nickel and features an echidna (also known as a spiny anteater) on its front side and Queen Elizabeth II on its back. The Royal Australian Mint in Canberra has been producing the five-cent coin since its introduction, with the exception of 1981. In that year, additional coins were produced at the Royal Mint's headquarters in Llantrisant, Wales, and the Royal Canadian Mint in Winnipeg.
The Canberra mint struck 30 million five-cent pieces in the coin's first year of minting, with an additional 45.4 million produced at the British Royal Mint in London. Since then, the five-cent coin has been exclusively produced in Canberra, with the Royal Australian Mint as the sole issuer of the coin. The mint is located in Deakin, Canberra, in the Australian Capital Territory.
The Royal Australian Mint was commissioned to produce Australia's decimal coinage, which was introduced into circulation on 14 February 1966. The Mint began making its own coins on 22 February 1965. The five-cent coin has been in circulation since then, and it remains legal tender. However, there are restrictions on its use. According to Section 16 of the Currency Act, merchants are only required to accept up to $5 worth of any combination of silver coins before it is no longer considered legal tender.
Despite the declining purchasing power of the five-cent coin due to inflation, there are no current plans to withdraw it from circulation. The cost of producing the coin varies with fluctuating metal costs, but it generally costs more to produce than its face value. For example, it costs approximately 7 cents to produce the 5-cent coin. Nevertheless, the five-cent coin continues to be produced and circulated in Canberra, playing a role in Australia's monetary system.
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It is the lowest-denomination coin in Australia
The Australian five-cent coin is the lowest-denomination coin in Australia. It was introduced into circulation on 14 February 1966, replacing the pre-decimal sixpence. The coin has been in use for over five decades and is currently the lowest-value coin in general circulation in the country.
The five-cent coin was first introduced alongside decimal currency in 1966. It has been minted and circulated by various mints over the years, including the Royal Mint in London, the Royal Australian Mint in Canberra, the Royal Mint in Llantrisant, Wales, and the Royal Canadian Mint. The coin's design has remained relatively consistent since its introduction, with the original reverse design of the echidna (also known as a spiny anteater) remaining unchanged. The obverse side of the coin features the head of state, Queen Elizabeth II.
The purchasing power of the five-cent coin has decreased over time due to inflation. As of 2018, the value of the coin represented only 0.27% of the country's minimum hourly wage for workers aged 21 and over. Despite this, the five-cent coin continues to be legal tender and is widely accepted in transactions, although there are some restrictions on its use. For example, merchants are only required to accept up to $5 worth of silver coins, after which it is no longer considered legal tender.
The cost of producing the five-cent coin has also increased over time, with the head of the Commonwealth's Canberra coin factory stating that it costs approximately 7 cents to produce each 5-cent coin. This has led to discussions about potentially withdrawing the coin from circulation, similar to the withdrawal of the one-cent and two-cent coins in 1992 due to production costs exceeding their value. However, as of 2015, there were no plans to remove the five-cent coin from circulation.
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Frequently asked questions
The Australian 5 cent piece is made of copper-nickel.
The Australian 5 cent piece features an echidna (a type of spiny anteater) on its front side and Queen Elizabeth II on the backside.
The Australian 5 cent piece was introduced on 14 February 1966, replacing the pre-decimal sixpence.
The reverse side of the Australian 5 cent piece was designed by Dr Stuart Devlin, a Geelong-born coin designer and jeweller.
Yes, the Australian 5 cent piece is still in circulation and remains legal tender, although there are restrictions on how many coins merchants are required to accept.
