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New $50 Note - Have They Literally Disappeared?

 
 
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Pillar of the Community

Australia
3151 Posts
 Posted 07/28/2019  11:48 pm Show Profile   Bookmark this topic Add gxseries to your friends list Get a Link to this Message
Ever since the news broke out about the embarrassing 'responsibility' error - I haven't quite seen them in circulation. The new 5 and 10 dollar note virtually wiped out all the older notes, however I can still find heavily circulated $50 note issued in 1995.

Could it be that RBA is busy replacing the newer notes...?
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Australia
13140 Posts
 Posted 07/29/2019  12:14 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
I was helping count the church offering yesterday - which is usually a good random sample of notes that are actually circulating. $1050 in $50 notes showed a ratio of about half and half, old versus new.

They printed way too many of them before noticing the error, and the error needs a magnifying glass to see it. I doubt they'd bother deliberately replacing them just for that. It's not as though they mis-spelled the name of the country, or something. It's embarassing, yes, but I think the Australian public would be more offended by the RBA wasting millions of dollars in an attempt to "cover up" their mistake by withdrawing and destroying the error notes.
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Valued Member
Australia
268 Posts
 Posted 07/29/2019  12:43 am  Show Profile   Bookmark this reply Add CoinOS to your friends list Get a Link to this Reply
The 46 million notes with 'responsibilty' are remaining in circulation.

The error-corrected print run has already happened (June) and
it might be worth keeping a perfect example of the typo with an unusual serial.

In a few generations it will likely be worth more than $50.
Pillar of the Community
Canada
542 Posts
 Posted 07/29/2019  5:07 pm  Show Profile   Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
it might be worth keeping a perfect example of the typo with an unusual serial.


Is there a Serial Number Data Base for RBA notes?
Valued Member
Australia
263 Posts
 Posted 07/29/2019  5:48 pm  Show Profile   Bookmark this reply Add airgem to your friends list Get a Link to this Reply

Quote:
In a few generations it will likely be worth more than $50.


Yeah like $51.

Must be hoarded by the millions. Scary thing is that there are some who can afford to hoard them. Even scarier is the fact I won't be around in a few generations to see the result.
Valued Member
Germany
429 Posts
 Posted 07/30/2019  02:01 am  Show Profile   Bookmark this reply Add redlock to your friends list Get a Link to this Reply

Quote:
Is there a Serial Number Data Base for RBA notes?


Does this help?
https://banknotes.rba.gov.au/resour...ial-numbers/
Pillar of the Community
Canada
542 Posts
Pillar of the Community
Australia
527 Posts
 Posted 07/31/2019  03:32 am  Show Profile   Check ryurazu's eBay Listings Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
O.o what would give you that impression? definitively not replacing the note how some people are "collecting" them even tho they don;t understand that this untended error is not actual collectible note, as impose to mis inked or like sample note, due to the population of this error.
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Pillar of the Community
Australia
1383 Posts
 Posted 07/31/2019  05:51 am  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply
I'm still seeing both, but there are an awful lot of old $50 notes and they do last, so I guess that's not surprising.
Pillar of the Community
Canada
542 Posts
 Posted 07/31/2019  5:56 pm  Show Profile   Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
how some people are "collecting" them even tho they don;t understand that this untended error is not actual collectible note


-my initial reaction was to agree to this statement, but if "IB 18" (assuming the last prefix) is indeed a short run (with limited # released like 600,000 suggested by the RBA site/link listed) than I would suspect that this prefix (IB 18) would be worth keeping (or as "CoinOS" suggests- a special SN, radar, etc would be good to put aside). Sadly too many collectors (& dealers) cannot appreciate that its either a short-prefix (series) or special # should be the note to keep.
Edited by walk2dwater
07/31/2019 5:58 pm
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