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Moderator
 Australia
16844 Posts |
Quote:
Same with the notes, all are widely used. Though the $100 is used less frequently, at least in my neck of the woods. I concur, except for the $100 notes. I rarely if ever see them; I saw one last weekend, for the first time this year. Despite the fact that our new plastic banknotes were designed so that every denomination would be friendly to ATMs (automatic teller machines), the machines are only ever stocked with $50 and $20 notes. If I want hundreds, I have to go into the bank, and ask for them. For which, of course, they'll charge me a $2 over-the-counter-withdrawal fee to obtain. Because of this ATM bias, I'd presume the $20 and $50 notes are the commonest. I understand that the situation in America with their $20 bill is similar. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
 United States
3098 Posts |
Wow! It seems that there are fess associated with every part of banking in Australia!
Also, do you guys see paper notes in circulation? I only have a $50 paper, and it's bigger than the current notes, bat are there any other paper notes with size in common with the polymer ones?
... and on that note, when is the RBA going to change up the designs? Yes polymer is hard to counterfeit but why don't they put more security features on the notes?
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Pillar of the Community
Australia
2830 Posts |
G'day, the paper notes were removed from circulation in the blink of an eye.
The polymers are all the same height, and each denomination is 6mm longer than the one smaller than it.
Apparently, this is an aid to the visually impaired. I have seen a stick, the same length as a $50, with a notch cut at the length of a $10. By putting a note next to it, can judge its relative length and thus its value.
The paper $100 were not popular, as they were too big for most wallets.
Bank fees: a sore point here. As I understand it, and I may be wrong, I am allowed two teller-assisted withdrawals per month, and any more incur a fee. But, I can use the cash-out facility at all major supermarkets without a fee.
Peter in Darwin
Temp: 25.2°C
Wind: SSE at 11.2km/h
Pressure: 1011.7hPa
still dark at 6.41am
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Pillar of the Community
Australia
1040 Posts |
I see quite a few hundreds, but that is because I often get paid for smaller jobs in cash and hundreds are more convenient. I rarely hang onto them, preferring to bank them or change them for fifties. I did recently get two '96 first prefix's and a test note. Unfortunately the test note wasn't worth keeping.
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Moderator
Australia
16844 Posts |
Quote:
... and on that note, when is the RBA going to change up the designs? Yes polymer is hard to counterfeit but why don't they put more security features on the notes? Australian polymer notes are already among the most secure on the planet, full of both traditional and new-wave security features; they don't really need too many more. The oldest designs, the $5, $10 and $20, did get minor adjustments in design: the $5 colours became bolder, the $10 colours became less bold and the $20 had a minor design change. We also had the circulating commemorative $5 note which temporarily replaced the regular $5 notes in 2001. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Australia
3831 Posts |
One odd thing that I find is that while I have no problem getting denomination of all coins, I can never get enough 10 cents coins for trade. Not too sure if anyone faced similar problems like me. I'm also starting to find the 1985-1998 portrait for the smaller denomination (non-commemorative) harder to find. The dollar and 2 dollar coins are still relatively easy to find in decent condition.
I always try to get rid of the 2 dollar coins when I have them - never like them.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
Australia
1040 Posts |
I don't think you would find many people who would put the $2 up there as their favourite coin to collect. However as a circulating coin, you have to admit it is convenient at the size it is. You can also surprise yourself with some good Christmas money if you put them all away through the year, a small jar holds a lot of coins.
As for scarcity of the other denominations, I haven't really looked for anything specific for awhile know. Might have to do a bank run and see what I come up with.
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New Member
Australia
23 Posts |
If I have notes - and thanks to ATMs these are mostly $20 and $50 notes- in my wallet I use them first, because it saves fumbling around with coins. Every couple of days I empty out my bulging change section, and toss the 5, 10 and 20c pieces in a tin (which I might add is almost half full of 1 $ 2 cent pieces, bugger them!), and keep the 50c, $1 & $2 for spending -once again less fumbling for correct change. I rarely spend lower denominations; I accumulate them as change.
And then of course if I do need to spend my 'stash', I am limited as to how much I can use in one transaction anyway:
1c & 2c Maximum of 20 cents
5c, 10c, 20c & 50c Maximum of $5
$1, $2, $5 & $10 Not exceeding ten times the face value, inclusive ie a maximum of $100 for $10 notes (10 x $10)
Any other denomination To any value
Who is policing this anyway and how many shopkeepers would actually be aware of this?
Gemma.
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Pillar of the Community
Australia
2830 Posts |
quote: "... Who is policing this anyway and how many shopkeepers would actually be aware of this?"
- don't know about shopkeepers, but the Conductors on Melbourne Trams know all about this ...
AND about the regulation that says they don't have to give change; ...
BUT when it suits them, they off-load a ton of shrapnel onto you.
Peter
who left Melbourne 31 years ago ...
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Moderator
Australia
16844 Posts |
Quote:
And then of course if I do need to spend my 'stash', I am limited as to how much I can use in one transaction anyway... Who is policing this anyway and how many shopkeepers would actually be aware of this? These are the defined "legal tender" limits, and have no bearing on the amounts of coins you can actually use to purchase things - that's up to the individual shopkeepers. Most shopkeepers, especially those selling large numbers of small-priced items (such as fast food outlets) are happy when people bring in bagfuls of coins to buy stuff with, provided they're not too busy, because it means they don't need to order in as much coinage for giving away as change next time. These limitations on legal tender are primarily in place, and only normally enforced, to prevent people from paying their tolls, taxes and fines in small coins as a form of protest. This gives the bureaucrats the right to tell someone who tries to do that to go away and get better money. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Spain
1361 Posts |
Quote:
Wow! It seems that there are fess associated with every part of banking in Australia! You can't beat Spain. I opened a US dollar account a few years back with $100. When the teller gave me the bankbook it reflected less than $100, and I told her I deposited $100, she said yes and that there are charges for deposits. Ok then I said I want to get back my money and when she gave me back it was again less than what was reflected. Again she said there are charges for widrawals. I think they made at least $10 for the 2 transactions. Finally, I got mad and said look just error correct the deposit and give me back my $100 and I will keep it in the house. And that is how I started collecting US dollar banknotes. By the way, every month I get an interest of 1 cent from my bank and guess what? They charge me 1 euro for maintaining my account. The banks here are legalized criminals. |
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Valued Member
Australia
68 Posts |
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the machines are only ever stocked with $50 and $20 notes Ahh, not at the Star City Casino in Sydney. They dispense $100 notes all the time, wonder why...  |
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Moderator
Australia
16844 Posts |
 But yes, I was thinking that the biggest users of hundreds would be the casinos and racetracks. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Australia
2830 Posts |
quote: "... I was thinking that the biggest users of hundreds would be the casinos and racetracks."
- don't forget the dealers in illicit substances; hence the introduction of the Cash Transaction Reports Act 1988*, modelled on U.S. legislation. [*since re-named the Financial Transaction Reports Act 1988]
Peter
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Pillar of the Community
Australia
1015 Posts |
The hundred dollar note is easier to feed the pokeys with in both the Crown and Star casinos  |
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First Page
Posted 05/05/2009 4:57 pm
