About Oldish Coins - Coin Community Forum

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Author	Replies: 5 / Views: 2,878
grendelfreak Valued Member Australia 281 Posts	Posted 03/13/2006 04:13 am Today I found a 1986 dollar coin (year of international peace) in my change today, nothing impressive about it as plenty were made except this was the first time I have seen the particular Dollar. Now granted time does take coins out of circulation eg buried underground, washed into the sewers etc but are older coinage delibratly taken out by the mint after a period of time due to wear and tear and melted down or otherwise recycled? Report this Post to the Staff

RenaL Pillar Of The Community Turkey 1205 Posts	Posted 03/13/2006 04:26 am Should be so. I think the banks collect worn coins (and banknotes) to send them to relevant authorities. Coins are melted, notes are burned. Report this Post to the Staff
KLD Pillar of the Community Australia 1079 Posts	Posted 03/13/2006 04:37 am I haven't heard of such a practise in OZ, in an extreme (un-recogniseable) case I have heard the bank gets reinbursed after destroying them. Report this Post to the Staff
Sap Moderator Australia 16832 Posts	Posted 03/13/2006 07:51 am There's no set time limit for withdrawing old money. Rather, the banks (the Reserve Bank is ultimately responsible, I think) withdraw coins (and notes) once they are too badly worn or damaged to still be used. It's not something they do lightly - after all, there's no money in it for them. Our modern coinage alloys were specifically chosen to tread the fine line between "cheap and easy to make" and "lasts a long time in circulation". As for your commemorative dollar, it's your fellow collectors and hoarders who are mostly responsible for your never having seen them before. Still, search enough coins and you can still find them, though any still circulating are likely to be well worn after 20 years. After all, with a mintage of 25 million, that's slightly more than one for every man, woman and child in the country. 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
crystalk64 Pillar Of The Community 3147 Posts	Posted 03/13/2006 09:01 am Sap you didn't mention the ONE for Indiana!!! Report this Post to the Staff
Gary Burke Rest in Peace United States 3730 Posts	Posted 03/29/2006 9:29 pm Or, the one for Colorado! Report this Post to the Staff
	Replies: 5 / Views: 2,878

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