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Ditching five-cent coin a fair point, says Prime Minister Malcolm Turnbull

AAP logoAAP 4/11/2016 Jennifer Rajca

Royal Australian Mint says the declining use, and demand of the five cent coin is leading to a cease in minting some point in the near future. © Nigel Killeen/Moment Open/Getty Images Royal Australian Mint says the declining use, and demand of the five cent coin is leading to a cease in minting some point in the near future. It's a little coin with not much of a future and even Malcolm Turnbull admits it's a "fair point" to ditch five cents.

The prime minister was asked about the relevance of the smallest change during his visit to Tasmania today.

The issue is expected to come up at the Liberal State Council over the weekend.

"It's a good question. I'll be very interested to follow the local debate on that," he told Launceston's LAFM.

"You don't see them a lot anymore, do you actually. It's a fair point."

Mr Turnbull was more open to the five cents debate than his treasurer, who famously refused to answer the question when asked the day after the May budget.

"If you can get as many people as in this room again who are interested in that topic, I'll answer your question," Scott Morrison told News Corp's Malcolm Farr in his traditional National Press Club address.

It now costs the Mint more than five cents to make the coin.

In February, then Assistant Minister to the Treasurer Alex Hawke said Australia was getting close to the point where the coin doesn't have a lot of use, especially given you can't use it in many machines.

© AAP Image/Lukas Coch
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