Posted 06/18/2012 7:21 pm
When Australia moved to decimal currency in 1966, the new notes and coinage were -
coins 1-cent to 50-cents; and
notes $1 to $20.
By the 1990s, there had been several changes -
coins 5-cents to $2; and
notes $5 to $100.
The 5-cent is almost useless now, and anyone who thinks about it, realizes that our 5, 10, and 20-cent coins are very expensive, so they are up for revision. I expect that, soon, the 5 will go, and the 10 and 20 will be issued in a new, smaller size.
I don't see as much pressure on replacing the $5 note with a coin.
And I don't see any pressure on adding new denominations above the $100 note: credit cards and internet banking are encroaching on that end of the market.
coins 1-cent to 50-cents; and
notes $1 to $20.
By the 1990s, there had been several changes -
coins 5-cents to $2; and
notes $5 to $100.
The 5-cent is almost useless now, and anyone who thinks about it, realizes that our 5, 10, and 20-cent coins are very expensive, so they are up for revision. I expect that, soon, the 5 will go, and the 10 and 20 will be issued in a new, smaller size.
I don't see as much pressure on replacing the $5 note with a coin.
And I don't see any pressure on adding new denominations above the $100 note: credit cards and internet banking are encroaching on that end of the market.
