Australia Should Replace $5 Note With A Coin and Withdraw 5c and 10c Coins

 

Ever since Queen Elizabeth II has died, there was an issue of replacing her image on $5 note with something else. A progressive crowd want aboriginal motive while those not so found of Aboriginals resist this idea.

What both sides overlook however is the fact that inflation made value of $5 note much lower than it once was. Nowadays you can buy a lot less with $5 note compared to what you could buy with $2 note when it was withdrawn and replaced with $2 coin. 

Australian mint already makes commemorative $5 coins. They are pretty, bimetallic or coloured with various fancy features. Instead of reinventing the $5 bill it will be much easier and practical to make one of the commemorative designs a permanent coin. It will save country a lot of money in the long run as coins are much more durable than notes, even plastic notes.

Also, while at it we should also withdraw 5c and 10c coins. By now their value have deprecated so much, they hardly even make change for anything. Minting them is waste of money. They are nothing more than deadweight that often just casually gets dropped on the floor and ignored by people. Yet these worthless coins cost money and effort to actually mint.

At the same time the other coins can be reimagined as well. 50c coin can be made smaller and thinner. Meanwhile a 20c coin should be re-imagined as 25c and lowest denomination available. It should also be made smaller and thinner. Prices even in grocery stores are in increments of 25c, so it will be practical and reflect reality.