What effect will it have on me?

I'm not sure if I can afford to lose the mighty 5 cent piece!

At a first glance, I was all in favour of dumping the five cent coin - it small, annoying and doesn't appear to have much use.

But, when I got thinking, I found a few issues.

The first and less obvious is what effect bannishing the five cent piece will have of petrol prices.

There will be 10 cent jumps in daily fuel prices, and my guess is it will be more about going up.

Without the 5 cent piece prices could be $1.20 today, then $1.30 tommorrow, and $1.40 the next.

That will hurt the hip pocket of everyone.

Food prices will be serverely affected. A tine of baked beans or a can of soup won't go up by one or two cents, a ten cent jump is massive.

I've estimated that by dumping the 5 cent piece will cost me and not doubt you at least another $2.00 to $5.00 every week.

No doubt the smart marketing gurus will put a positive spin on the dumping of the 5 cent piece.

And, just watch the way pricing structures will be developed to try and convince you that the 5 cent piece won't cost you any more.

What do you think?