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 Replies: 24 / Views: 19,849 |
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Pillar of the Community
United Kingdom
2893 Posts |
I wonder if the famous Maria Tharesa thaler is still used for transactions in some of the more remote parts of Saharian Africa or the Arabian Peninsula.
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Pillar of the Community
2087 Posts |
I was told by someone in the african studies department (Vienna University) that the coin is still used in day to day transactions in the Bornu region. Preference, apparently, is for brand new coins. However apart from that verbal report I have seen nothing in writing reporting this.
I don't have any info on the Arabian Peninsula but the coin was still being used in Rural Ethiopia in 1982. I suspect it might still be used in the rural areas of Oman Oman was the last country to demonetize the MTT in 1971/72.
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Pillar of the Community
Germany
1238 Posts |
Quote:
I don't want to nit pick but the coins were regularly advertised ( before they went to the copper versions) on the radio and in local papers here(Vienna) as legal tender for circulation. Well, a mint wants to sell its products, so of course it will emphasize the fact that you could use such a piece. ;) But collector coins are not intended to circulate, see this handy chart http://ec.europa.eu/economy_finance...coins_en.pdf for example. In quite a few EU legal documents you will find phrases such as "(...) require the adoption of technical characteristics, artistic features and denominations that enable euro collector coins to be distinguished from coins intended for circulation." But as you mentioned, they did and do not circulate anyway. That also applies to some French silver and gold coins. For example, you could get the Moving Sower pieces at face from many post offices, and they did a similar program with the "euros des régions". Issued at face? Yes. Circulating? Nah. :) Christian |
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Pillar of the Community
2087 Posts |
We have had this discussion b4 on another forum: Quote:
Well, a mint wants to sell its products, so of course it will emphasize the fact that you could use such a piece. I didn't refer to the Vienna mint I referred to the ONB. it was only the five Euro coins they advertised as being able to be used as legal tender not the 10 25, 50 and 100 Euro coins. the point is moot as Greshams law came into play. |
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Pillar of the Community
Germany
1238 Posts |
The Austrian mint is a wholly owned subsidiary of the Austrian central bank. But when it comes to where silver coins were last used in "everyday circulation", I'd say 1975 for both Austria and Germany (AT: 10 Schilling, out of circulation since April '75 / DE: 5 DM out of circ. since August '75). In my opinion, a lot depends on the distribution channels too: If a coin can be had at face but needs to be picked up at "special" places, it is not likely that it will actually circulate. The French and Mexican coins are borderline cases, I think, but if people tell me that it was fairly common to find them in circulation, I will gladly believe that ...
Christian
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Valued Member
United States
426 Posts |
Yep, probably the Mexican $10 pesos was one of the last. I was still hoarding them on vacations to Mexico around 10 years ago. Would come back with about 10 or 15 of them from a 1 month vacation.
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Bedrock of the Community
 Australia
21788 Posts |
The $10 pesos was originally NOT meant to be NCLT.
I guess that it may have cost a bit more to produce, but a seignorage profit would still have to be made at the time.
Otherwise, Gresham's Law would have applied, and it eventually it did later on, when copper nickel cores were used instead.
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Pillar of the Community
United States
5362 Posts |
I got one of those silver center 10 pesos in a dealer's junk box for 10 cents just last week. I also pulled out a silver 25 ore from Sweden and a couple better date coppers. I spent one hour and $10 total for 100 coins. The more common coins go to my grand daughter. The only one of my grand kids with any interest at all.
I still love junk boxes
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Valued Member
United States
426 Posts |
That's awesome swamperbob, the conversion rate for the $10 pesos makes it worth about .80¢ US. Plus it's value in silver! What a steal!
Edited by RealPeso
02/19/2013 01:05 am
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Replies: 24 / Views: 19,849 |
First Page
Posted 02/18/2013 07:12 am
