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1995 Australian Walzing Mathilda $1 Coin In Circulation

 
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Australia
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 Posted 09/25/2022  1:00 pm Show Profile   Bookmark this topic Add marcpasquin to your friends list Get a Link to this Message
A case of a collector coin which was not meant to be circulating: A while ago, I found this 1995 $1 Waltzing Matilda (Canberra mintmark) coin in my change despite the coin being (in theory) a coin only released carded.

I guess someone might have gotten this as a gift and decided "Screw it, I'm buying something with it".

When I posted it on another forum however, a number of people said they also found this coin in their change so someone speculated that "surplus" coins (i.e. those leftover after other were carded) might have simply being released as circulating coins.

Anyone have any thoughts about this ?

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Australia
1377 Posts
 Posted 09/25/2022  5:13 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply
I don't think there was a surplus. It's not actually that uncommon to find NCLT coins in circulation. I have several sets of the 2018 Gold Coast Games $1 coins, all from circulation. I think these coins were also sold from the mint to visitors and am not sure if the ones from the mint were necessarily carded but someone may be able to update that information.
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Australia
364 Posts
 Posted 09/25/2022  5:18 pm  Show Profile   Bookmark this reply Add gnome to your friends list Get a Link to this Reply
No mintmark coins were deliberately put into circulation due to being excess items. A majority of those fb comments are baseless clueless garbage comments. The newsagency and post office coins were usually minted as corporate deals and have no bearing to RAM mintmarked and privy marked coins. Those excess coins are usually given out in change.
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Australia
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 Posted 09/25/2022  7:10 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
with David Graham.
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Australia
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 Posted 09/25/2022  9:16 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Back in 1995, the price of a carded NCLT dollar coin was not all that high - just 2 or 3 dollars, if I recall correctly? I know several people in my coin club who bought some at the coin show, then went into town after the show and deliberately spent them, just to try to get "unusual coins" into circulation and maybe spark some new coin collectors into existence.

However, it should probably be said that the majority of NCLT coins found in change, would have been put into circulation by thieves - people who knew little and cared less about collector value of the coins in their possession, and just saw the coins as money. Sadly, all too often those "thieves" are family members of coin collectors. If you've gotten hold of a bunch of $1 coins and you want to turn them into cash with as little scrutiny as possible, you're not going to take them down to the coin dealer and maybe get $2 for them, when you can get $1 for them just by spending them, banking them or feeding them into a vending machine.

Finally, these cards aren't all that great at preserving and protecting a coin. A carded coin, sitting around in an adverse environment, can get damaged. A coin might also get damaged in flood or fire. Nobody wants to pay a premium above face for a damaged coin and/or a damaged card; dealers who end up with such coins, will likely write them off and bank them.

And yes, the "surplus coins" theory is bunkum. The made-for-circulation production streams and the made-for-collectors production streams are completely separate from each other. They are made in different parts of the mint, by different people, and probably on different days. There simply isn't capacity within the Mint, even back in 1995, for them to say "collectors don't want these coins, so let's just toss them in the hopper with the rest of the dollar coins". The accountants would throw a hissy fit if someone tried. There are no "surplus coins" in the Mint gift shop, and never have been; the NCLT coins, once made and released for sale, stay on the shelves until they're sold, even if it takes them years to get rid of them. For the RAM, historically, it hasn't needed "years" to clear the stock.

If for some reason they managed to produce "surplus coins" that they didn't have cards for, they'd simply print more cards. It's not like they were limited-mintage or anything.
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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 Posted 09/26/2022  11:09 am  Show Profile   Bookmark this reply Add MachinMachinMan to your friends list Get a Link to this Reply
To most people a dollar coin is just a dollar coin.

If the pokies took other denominations we'd all find a lot more NCLT 20c, 50c and $2 coins in circulation as well.
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 Posted 09/27/2022  12:23 am  Show Profile   Bookmark this reply Add ttkoo to your friends list Get a Link to this Reply

Quote:
If the pokies took other denominations we'd all find a lot more NCLT 20c, 50c and $2 coins in circulation as well.


.....fair point.
The Ox moves slowly, but the Earth is patient.
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Australia
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 Posted 09/27/2022  06:12 am  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply
I agree with Sap re thieves however I also reckon quite a few are given as gifts by parents who value them more than the child does. To a young kid, that C mint marked dollar that your folks purchased and gave to you while visiting the mint is worth no more at the candy shop than a normal dollar. In 1o years time they'll find that tooth fairy dollar that their parents gave them as a youngster and see it as a $1 to be spent.

It does remind me of a mother who's son lost a contact lens in the back yard while playing. We're talking early contact lens days when a lens would set you back $200+. After half an hour of looking the son gave up and went inside to watch TV while his mom kept on searching the grass. After 3 hours she found the lens. The son couldn't believe she had found it. She told the son "The difference was, you were looking for a contact lens, I was looking for $200".
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 Posted 09/30/2022  9:10 pm  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply

Quote:

Back in 1995, the price of a carded NCLT dollar coin was not all that high - just 2 or 3 dollars, if I recall correctly?


I thought it was $2.

And these early mintmarked dollars are reasonably low mintage too I think.
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