The Reserve Bank wants everyone's five cents worth about whether to keep the 5c coin.
The bank has decided to make deciding the fate of the 5c coin part of a review it is doing on silver coins.
Spokesman Paul Jackman said that when the bank proposed reducing the sizeof 50c, 20c and 10c coins, and changing the metal in them, it put aside the fate of the 5c coin as a separate issue.
But after consultation and considering the production implications of a revised range of silver coins, it had become increasingly clear a decision should be made on whether to take the 5c coin out of circulation, he said.
One and two cent coins were phased out in 1989.
Mr Jackman said the bank would seek public opinion on silver coins. Any change would not be made until at least mid-2006.
The United States has 1c, 5c, 10c and 25c coins in common use. It also has 50c and one-dollar coins.
Its Department of Treasury says on its website (www.ustreas.gov/) the coins in circulation satisfied the public, and the US Mint had no plans to change the denominations.
"We occasionally hear from people who believe that the United States Mint should stop producing one-cent coins and remove them from circulation.
"You may be interested to know that the cent is the most widely used denomination currently in circulation."
A study in 1976 which included considering eliminating the 1c coin received strong objections from most of the state revenue collection departments, retail firms and banks.
"Other objections voiced in later studies concerned the inflationary impact of such a proposal on prices and possible difficulties in collecting sales taxes."
Britain's currency includes 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2 coins.
