Legal Tender Status Of Pre-Dec Coins, Bulk Sellers

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floyd_gehrig New Member Australia 4 Posts	Posted 10/19/2007 10:28 pm I'm curious about the legal tender status of Australian pre-decimal coins. Technically, can they still be used for payments? Also, does the government have laws against the counterfeiting of pre-decimal coins, in the same manner as modern currency? I'm building a collection of "junk silver" coins as an investment/hobby, so any information will be useful. Also, as a secondary question, are there any dealers in Australia who sell Aust. junk silver in bulk, especially in Perth? I'd like to buy the silver kookaburras but the premium over spot price seems a little too big. Thanks in advance. Removed Texting acronym see forum rules, rggoodie moderator Report this Post to the Staff

muckeye Rest in Peace Australia 661 Posts	Posted 10/20/2007 06:48 am I suggest a few hours with a recent Australian catalogue would be enlightening. regards, Report this Post to the Staff
Learjet Pillar of the Community Australia 655 Posts	Posted 10/20/2007 10:56 am quote: I'm curious about the legal tender status of Australian pre-decimal coins. Technically, can they still be used for payments? As in legal tender you mean? I can't remember now if pre-decs have been demonetised or not. If not then the old swap may still apply eg florin = 20c, shilling = 10c, sixpence = 5 cents. You would have to be mad to do so though as those coins contain much more silver than the above values. For instance rather than getting 20c for a florin they have $2.50 worth of silver in them (post 1945) or about $5 pre 1945. Report this Post to the Staff
Sap Moderator Australia 16808 Posts	Posted 10/20/2007 10:57 am Hi and welcome to the forum. To answer your questions... quote: I'm curious about the legal tender status of Australian pre-decimal coins. Technically, can they still be used for payments? Yes. It would be foolish, but technically it's still allowed, and it's exactly what happens if you take a haul of predecimal coins and notes down to the bank. The only officially issued Australian coinage to be demonetized are the original 1813 Holey Dollars and Dumps. Conversion factors are the same as those used on C-Day: 6d = 5¢, 1/- = 10¢, and so on. Smaller-denomination coins (threepence, penny, halfpenny) are only converted in multiples of sixpence. Of course, for both predecimal coppers and predecimal silver, there's far more value in bullion/metal content than there is in face value. quote: Also, does the government have laws against the counterfeiting of pre-decimal coins, in the same manner as modern currency? Yes, but they aren't as black-and-white as the laws regarding current (decimal) coin. Legally, it's OK to make, buy and sell fake predecs, so long as you aren't being deceptive (ie trying to pass them off as real). Making, buying and selling fake decimal coins is completely illegal. quote: Also, as a secondary question, are there any dealers in Australia who sell Aust. junk silver in bulk, especially in Perth? I'm not familiar with the Perth dealers, but I imagine that most dealers would have, or be able to obtain on relatively short notice, a supply of low-grade silver coins. Whether you'd be able to buy them at "bulk rates" would depend on the dealer. 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 Report this Post to the Staff
Bigfella Pillar of the Community Australia 853 Posts	Posted 10/21/2007 10:29 pm To add to SAP's detailed reply....even though predecimal coins are legal tender still they are defined as none circulating legal tender. This means you can try to spend it but a shop keeper is within their right to say to you pay with something else. This is opposed to say a $1 note or a 20c coin which are circulated legal tender (even though the $1 note has been replaced) where a shop keeper can refuse the sale completely but is breaking the law by telling you to pay with something else. All financial institutions must cash in all legal tender at face value (though they can charge a fee for doing so)...whether is be predecimal or collector coins. As far as bulk coin...I do sell predecimal copper and silver in bulk if you want it. Report this Post to the Staff
gxseries Pillar of the Community Australia 3831 Posts	Posted 10/27/2007 12:35 am If I remember right reading from the RAM site, the only coin that is demonitized is the holey-dump coin but obviously that's a coin that's worth more than it's face value!! My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Report this Post to the Staff
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