According to the Reserve Bank of
NZ, over 66% of New Zealanders feel that the 5 cent piece is superfluous and pointless.
In response to that, they are removing the 5 cent piece from circulation, much as was done to the 1 and 2 cent pieces back in 1990.
Retailers are not happy. The general concensus is that prices will be rounded up at the checkout if need be.
NZ Post has not yet announced what it will do with the 45 cent stamp. Again, general concensus seems to be that our least expensive postage stamp will rise to be a 50 cent stamp.
In addition to dumping the 5, the Reserve Bank is changing the size of the 50c, the 20c, and making the 10c into a coppery-coloured one. This is apparently going to save the taxpayer 2 million dollars a year.
The people who run vending machines are livid. The cost to replace the coin parts is going to run into the hundreds of dollars per machine...which will be passed on to the customer.
What say you, savages?
