Time for a change? Cost of producing some Australian coins to outstrip face value

Prices of copper and nickel, used to make silver coins, have soared due to the Russian invasion of Ukraine

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Soaring metal prices mean it will cost more than the face value of the coins to make five cent, 10 cent and 20 cent pieces, according to new research.

Prices of the two key metals in Australia's silver coins, nickel and copper, have skyrocketed this year due to Russia's invasion of Ukraine, with the price of nickel spiking 250% on the London Metals Exchange last month to more than US$100,000 a tonne.

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