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Smallest denominations of Australian currency set for "graceful death"
The Royal Australian Mint has flagged a "graceful death" for the nation's five and 10 cent coins. Ross MacDiarmid, chief executive of Royal Australian Mint, told Australian Broadcasting Corporation (ABC) Thursday that demand for coins has fallen 55 percent in five years. Phasing out the five and 10 cent pieces would leave the 20 cent coin as the lowest form of Australian currency in circulation. "We've worked on the basis that somewhere in the next five to 10 years the five cent coin will probably just cease to be used," MacDiarmid said. "We think that 10c will have a similar trajectory. "Retailers more than ... (full story)