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 Replies: 17 / Views: 3,506 |
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Pillar of the Community
 Australia
2180 Posts |
I suspected that could be the case.
I was mostly curious about where the coin books get their information which doesn't always seem to be accurate, but I was also looking for some information on the 1983 and 1984 20c pieces (how do we know they were melted and just how many were melted?).
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Pillar of the Community
Australia
1244 Posts |
Most coin books say almost the entire production of 20c 1983 & 1984 coins was melted down and exported as base metal Cupro-Nickel bars, as there was no economic demand for them through the reserve bank.
Which is true, but they don't tell you that the reserve bank determines how many coins go into circulation while in a vault somewhere the surplus just sits there until there is a need to put them into circulation. In essence the RAM just produces so many million coins and then the reserve bank buys them to put them into circulation, the stuff that was melted down was the stuff sitting in the vault; there were no coins that were supposed to go into circulation as the reserve bank didn't do a currency determination to specify a number.
They kept $200 worth of 20c for each year "exists in mint rolls"
Plus there are coins that are in mint sets and proof sets.
Although the myth is that a mint roll was accidentally broken and they were put into circulation.
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Pillar of the Community
Australia
2180 Posts |
Yes, I've read about the mint rolls. Do you know the circumstances of their discovery and what happened to them?
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Pillar of the Community
Australia
1244 Posts |
I don't believe that the mint has them stashed away in a vault somewhere as they clear it out every few years with one of there inventory auctions, they were most likely sold on to a private collector.
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Pillar of the Community
Australia
515 Posts |
There are a lot of mintage mistakes in Macca's. I find errors in almost everything in there that I research. For earlier information such a guide is the only information available.
I have found that Greg has mistakenly overwritten corrected information with previous years info so it's worth checking different editions. I usually notify Greg of the errors that I find.
If you have a read of old ACR magazines they often have Mint reports which give mintage numbers. Trouble is mintages are made up of numbers of 2 or more years and you don't always know what happened back then.
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Valued Member
Australia
121 Posts |
Sorry for offtopic, but when should we expect Annual Report 2010/11 to be posted?
Thanks!
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Pillar of the Community
Australia
2180 Posts |
Quote:
I don't believe that the mint has them stashed away in a vault somewhere as they clear it out every few years with one of there inventory auctions, they were most likely sold on to a private collector. Yes, I imagined they would have come to light at an auction. What's the story with these inventory auctions though? Quote:
There are a lot of mintage mistakes in Macca's. Where abouts? For decimal I'll probably go with the RAM website, but are there any pre-decimal mistakes? Quote:
when should we expect Annual Report 2010/11 to be posted Someone said September. I think one of the ones of the RAM site is dated September 6th of whichever year. |
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Pillar of the Community
Australia
1244 Posts |
Last auction at the mint >> 2009 http://www.ramint.gov.au/media/noti...20090902.cfmI found a mistake with 2010 Australian Coins and Banknotes by Greg McDonald, pg126 20c federation coins do not have "plain edge" Reeded mate! Mintages are always a guess in the books as they use the mints records which are spread over 2 different annual reports, and I'm pretty sure that the mint doesn't count every single coin anyway; it's all done in batches by a machine. 2000-01 Annual Report http://www.ramint.gov.au/about/comp..._reports.cfmThe only mintage you can be sure of was the 2001 Don Bradman "At the governments request a special distribution of 10 million 20c coins" pg 13 |
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Pillar of the Community
Australia
2180 Posts |
Quote:
Last auction at the mint >> 2009 That's interesting. So the excess stock ends up back at the mint then? And would the 1983 and 1984 20c pieces have been melted at the mint? |
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Pillar of the Community
Australia
1244 Posts |
I doubt that the coins were melted at the mint, the mint don't even make there own blanks. http://www.ramint.gov.au/faq/The mint doesn't take back coins that have been made for circulation. The only coins that the mint has returned to them are uncirculated collector coins from Australia post: Australia post promotional period is usually 12 months which after that time unsold products will be sent back to the mint to be on sold to dealers with the Royal Australian Mint. The mints auctions are usually excess stock that dealers didn't pre order, or items that were minted that didn't pass quality control and were error coins, and just old items that were on display but are no longer wanted. |
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Pillar of the Community
Australia
2180 Posts |
Quote:
the mint don't even make there own blanks Was there a time when they did? |
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Pillar of the Community
Australia
1244 Posts |
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Valued Member
Australia
85 Posts |
I found a 1983 20c in circulation several years ago
Off topic sorry
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Pillar of the Community
Australia
2830 Posts |
when I was a kid, in the 1960s, I visited the then-new Mint, and they certainly melted metal, and rolled it from giant red-hot bars into long sheets of the appropriate thickness, and punched out the blanks.
when I went again, two years ago, I was very disappointed to see that all of that had gone. Maybe outsourcing is less expensive, but I can also imagine that some consideration might be given to the appropriateness of high-temperature manufacturing in a leafy Canberra suburb.
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Pillar of the Community
Australia
1244 Posts |
Hi floridapalms
Welcome to Coin Community :)
Lucky you finding one in circulation, I hope you kept it and put it somewhere safe.
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Replies: 17 / Views: 3,506 |
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Posted 09/03/2011 05:34 am
