Lolly shops bid sad farewell to 5c coin

One grape, a solitary pineapple lump or one bead - that's what 5c will buy you. Back in 1967, when decimal currency was introduced, the coins were more useful: For 5c you could buy a sheep's tongue, or have change left over from a pint of milk (4c) or a postage stamp (3c).

The Reserve Bank last week announced plans to phase out the 5c, arguing that inflation had eroded its value to the point where it was just a nuisance.

But a stroll down Ponsonby Rd shows that our tiniest coin still has its uses.

At Zaid Musa's family Pricecutter store, children often come in with 5c and buy one lolly.

The Ponsonby Rd retailer, who sells many lollies for 5c each, is not convinced the coins should vanish. "We have a lot of people buying just one lolly," he said. "And we have a lot of people just pick up a 5c lolly instead of getting the change."

At Superior Meats down the road, where 5c won't buy you anything, butcher Brian Hall said he "wouldn't miss them at all".

"I get that many 5c pieces. Look how many I've got here," he said, opening the till to show a brimming compartment.

"I've got another bag of 5c pieces out the back. I keep thinking I must take them to the bank and I haven't got round to it."

Harry Bhana, of Bhana Bros fruit and vegetable shop, reckons you could buy a grape for 5c at his shop, "but that's about all".

He said the bigger problem would be figuring out what to round up and what to round down.

"It would probably be a nightmare to start off with for the small retailers.

"But let's face it, there's not much you can get for 5c."

The owners of D. Jairam and Sons dairy, Suresh and Kusum Jeram, said they didn't know yet what they would do about the price of lollies. They said basic items such as milk ($1.95 a litre) and postage stamps (45c) would have to be repriced.

The Bead Shop manager, Tracey Newman, said people occasionally bought a single bead for 5c.

"It's very odd, and they're few and far between, but the kids do buy 5c beads."

The changes to NZ's coins- others are to be resized - will be phased in from July next year.