| Author |
 Replies: 12 / Views: 2,787 |
|
|
Valued Member
Australia
215 Posts |
Hi everyone, I don't really understand what all the fuss is about the Australian 1972 five cent coin. A mintage of 8 million isn't really that low is it? Sure, they aren't easy to find in circulation anymore, but that's because people have been hoarding them for a long time. More to do with its low face value than low mintage figure. The 1972 50 cent has a lower mintage than the 5 cent, yet nobody seems very interested in them  |
|
|
|
Pillar of the Community
Australia
1039 Posts |
Quote:
I don't really understand what all the fuss is about the Australian 1972 five cent coin. A mintage of 8 million isn't really that low is it? I agree,it originally started as Dealers trying to get a premium on an ordinary Coin,in 1973 the Coin feeding frenzy from the 1960's was still going. After saying that the reason for the 'low mintage' tag was that it was lower than 50 Million+ mintages of the time. Just my opinion. |
|
Pillar of the Community
4628 Posts |
The mintage of that coin was low by Australian standards. Like Basil said. Plus because the coin was minted nearly 50 years ago, it must be incredibly hard to get out of change now.
Also 5 cents was worth a lot more in 1972 than now and many people will not be bothered searching piles of 5 cent coins to find one.
There are many much more scarce Australian coins in circulation like the 1988 20 cent coin, the 1985 10 cents, the wavy 1966 20 cents (A real rarity), 2004 Dollar/10c mule and 1993 $2, but the 5 cents seems to be an easy and affordable one compared to these.
You have a much better chance of finding one than say a 2013 Purple Coronation $2 coin.
|
|
Pillar of the Community
Australia
1610 Posts |
Quote:
2004 Dollar/10c mule
Now that is a coin I'd like to find..... |
|
Pillar of the Community
4628 Posts |
Just to wet your appetites  My 3 1972 5 cents, 2 VFs and 1 close to EF. |
|
Pillar of the Community
Australia
1610 Posts |
PT - Got me thinking, I know the kiwi coinage has changed but back in the day, did Aussie 20c pieces appear in NZ circulation?
|
|
Pillar of the Community
4628 Posts |
Yes all the time I remember. Until 2006 we got your 5c, 10c and 20c. Not the 50c though as they were different shapes.
Also got your 1c and 2c when we had them, they were phased out in 1989. I would say a good 2 - 5% of our small change was Australian. We always knew as your coins had the effigy to the bottom of the coin, ours had the date at the bottom.
We never saw Fijian or any other foreign 5c, 10c or 20c. We also saw old 6d, 1/- and 2/- in our change but maybe 1 of those per 30 or 50 coins.
|
|
Valued Member
 Australia
215 Posts |
Quote:
We never saw Fijian or any other foreign 5c, 10c or 20c. In the land of Oz we find NZ, Fijian, Samoan coins - almost all with lower mintage than Aussie 1972 5 cent! |
|
Pillar of the Community
Australia
2180 Posts |
Yeah I've never figured it either - it's the lowest mintage 5c but some of the other early 1970s coins weren't overly high mintage either. They are tough to find though. Quote:
Now that is a coin I'd like to find..... It exists in New Zealand. |
|
Pillar of the Community
4628 Posts |
Yes I got confused, there is a 2004 10c/$1 mule in NZ and in this case its a 10 cent coin larger than $1.
I got it confused with the Australian 2000 10/$1 mule, in this case the Australian dollar is larger than the 10c and there is a thick rim for the flan. My bad.
|
|
Pillar of the Community
Australia
1333 Posts |
I pretty sure there a person here that posted a blog post about the Australian 5 cent 1972 and why its sort after by collectors. Can't remember exactly where but it's just a theory but I tend to agree with the thought.
|
|
Pillar of the Community
 Australia
2496 Posts |
The Ox moves slowly, but the Earth is patient.
|
|
Pillar of the Community
Australia
1985 Posts |
Nice lot you've got there ttkoo, and in much better condition than the one I found recently. Quote:
Sure, they aren't easy to find in circulation anymore, but that's because people have been hoarding them for a long time. More to do with its low face value than low mintage figure. True, it would only set you back $400K to hoard them all at face value, compared to $8 million for a dollar coin with the same mintage. It's cheaper to hoard coins with low face value. There will come a time when all 1972 coins are in the possession of collectors/hoarders. Doesn't change the fact that there are 8 million of them. |
| |
Replies: 12 / Views: 2,787 |
|
Posted 12/02/2021 7:27 pm
