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Why are five-cent coins in circulation if they?re rarely accepted?
Fri, May 09, 2008
AsiaOne

I REFER to the Stomp contribution 'Retailer refuses small coin denominations' (my paper, May 5).

I had a similar experience at a food shop in Marine Parade. I paid for my bowl of dessert with two 20-cent and two five-cent coins. To my surprise, the waitress told me not to pay with five-cent coins next time.

In another instance, the cashier at a convenience store short-changed me by five cents, saying that she did not have coins of that denomination.

The two episodes made me wonder about the value of five-cent coins, so much so that one cashier thought nothing of giving me less money back, and a waitress told me not to pay with such coins in future.

Are five-cent coins losing their value, since retailers generally refuse them? Do they have the right to reject payment that includes such coins? I hope the Monetary Authority of Singapore will shed light on this.

Ms Ong Ceh

 

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