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 Replies: 14 / Views: 2,966 |
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Valued Member
United States
393 Posts |
After all the talk of eliminating the cent from circulation here in the US I was curious as to what other countries were doing. I found a website that explained the coins and currency in circulation in Australia. I was fascinated to hear about the $1 and $2 coin and the plastic $5 bill. Are these coins widely accepted? Also what do you think of the plastic bill. This bill is suppose to be incredibly hard to counterfeit.
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Pillar of the Community
Australia
9381 Posts |
Hi Tnwalker10, With us not having $1 and $2 notes any more, the coins have to widely accepted, there is no other choice. Personally I don't have a problem with them, I much prefer them to the notes. The $5 note is not the only plastic note we have, we also have $10, $20, $50 and $100. All these notes have built in features to make them hard to counterfeit. The down side of these notes is that if they get folded and creased they are very hard to straighten again. Steve  |
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Pillar of the Community
Australia
655 Posts |
We also have dropped the 1c and 2c pieces. The 5c will be next I reckon, like New Zealand. The $1 coin over here has a very big following. It is our main commemorative, mintmark and circulation coin. The $2 is actually smaller than the $1, confusing eh? The $2 coin just seems to be meant for circulation as they haven't made any commemoratives for it yet. When new the 1 and 2 dollar have a nice gold coloured appearance to them and many refer to them as "gold" coins. I laughed when my sister thought they were actually gold! 92% copper, 6% aluminium, 2% nickel, 0% gold.  |
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Pillar of the Community
Australia
655 Posts |
Thought I'd take a few pics before I go and spend some of it. Hey I just realised I have a 1929 USA Wheat cent. Are they a collector coin? Image:  pic1j.jpg58.22 KB Image: pic2j.jpg46.75 KB Image: pic3j.jpg58.69 KB |
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Pillar of the Community
United States
2600 Posts |
Learjet, looks like you have an off-center strike on the wheatie in pic 3. Or, is it just my eyes? Jim
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Pillar of the Community
Australia
655 Posts |
Might just have been lens distortion from being at the edge of the frame. Image: 1929cent.jpg41.66 KB |
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Valued Member
 United States
393 Posts |
The 1929 Wheat cent is a collector coin. The RedBook said there were 185,000,000 minted so they're not exactly rare. Some people really like Wheaties. I'm one of them. Thanks for the replies. Our money in the US is due for a change. |
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New Member
Australia
28 Posts |
I heard that the move from the $1 (1984) & $2 (1988) notes was for economics, in that these notes were only lasting a short time and thus costing mega bucks to produce. A pocket full of $1 and $2 coins can be a pain though.
Even with the removal of the 1 and 2 cent coins, prices still reflect the odd cent. The prices are "rounded up or down" to an even dollar or 5 cent part. If the price is $9.99 it will round up to $10 and $9.94 will round up to $9.95. With "round downs" a price at $8.86 is supposed to round-down to $8.85. If many items are purchased (weekly shop for example) the total amount will be rounded up or down to the closest dollar or 5 cent part section.
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Rest in Peace
United States
3730 Posts |
Jim, That Lincoln sure looked like an off-center strike to me also, at least at first glance. I am really impressed with Australian coinage and am currently working with Dansco Albums for the Fifty Cent and Twenty Cent coins. |
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Valued Member
United States
181 Posts |
I didn't know that Australian $5 bills were made of plastic. If anyone has any I might be interested in buying or trading for one...
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New Member
United States
36 Posts |
We can learn a lot from the Australian money system.
We need to discontinue the $1 bill here, and then our $1 coins will circulate.
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Valued Member
United States
414 Posts |
Too many interest groups in congress makes any change very difficult. Lincoln Cent, IL? Jefferson, return to Montecello, why? Sackie with president dollors side by side, what? on and on. They should just mint 50 quarters every year! |
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Rest in Peace
Australia
661 Posts |
Nice to see all these potential 'darksiders'.
Come on fella's, double up on the burly and we'll have a feed before breakfast.
regards,
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Valued Member
Australia
222 Posts |
I reckon plastic notes are better. People used to complain a lot that the smaller denominations looked like monopoloy money, but since they're here to stay now, they're widely accepted.
Eric
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Valued Member
Australia
222 Posts |
Another wierd thing: Sometimes we receive US quarters in change as ten cents coins. Shows how much we actually look at our coins, eh?
Eric
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Replies: 14 / Views: 2,966 |
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Posted 02/15/2007 5:39 pm
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