[trogg]

This is just bullshit.
Sure I end up with a few 5c pieces and other annoying change like 10c & 20c pieces from time to time but I make sure I spend them at the dairy or somewhere before I end up with a bucket load of them which means I have to make a special trip to the bank to get rid of them.

Can someone, perhaps an account, please explain to this silly old bugger how saving the taxpayer a measlerly 2 million dollars a year is going to offset all the resulting price rises (aka INFLATION) from silly things like 5c lollies and 45c stamps.
What about the cost to convert all the vending machines? Lets say that it costs $200 in parts and labour for each machine to be converted. That means that over 10,000 parking meters, cigarette machines, coin phones etc etc could be coverted before there is a net gain. Basically all the non EFTPOS machines out there.

So we save ourselves $2M in taxes but there would be inflation on cash sales, there are costs making the new dyes / moulds for the coins and a lot of the vending machines would need to be changed/re-programmed/re-labelled.

A really smart move. Thanks Reserve Bank.