Create Fortune With Australian Coins
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Posted On :
Aug-12-2010
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Article Word Count :
544
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Australian coins are those coins that have been released into circulation since colonial days till date. They are some of the most beautiful and unique coins of the world for a hobbyist and are profitable holdings for investors. They include decimal and pre-decimal coins.
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Australian coins are those coins that have been released into circulation since colonial days till date. They are some of the most beautiful and unique coins of the world for a hobbyist and are profitable holdings for investors. They include decimal and pre-decimal coins.
Pre-Decimal Coinage
New South Wales, the first Australian colony, had no currency of its own and relied on barter system and coins of other countries. Australia adopted the British Sterling system of pounds, shillings and pence in the colonial days. Cartwheel pennies dated 1797 can be regarded as the first ever Australian coins with King George III on one side and Britannia on the other. Later, the Spanish dollar coins were holed in the centre to be called as Holey dollars and the centre piece was called the Dump. These went out of circulation when the British coins became the official currency after 1825. Unofficial gold coins were used during 1850's. Australia's first official mint at Sydney produced gold coins between 1855 and 1870 along with florins, shillings, sixpences and threepences with the portrait of King Edward VII on one side. Australian pennies and half-pennies were introduced into circulation. In 1931, gold sovereigns with unique original designs were replaced with British designs. Pre-decimal Australian coins minted between 1910 and 1964, Australian penny of 1925 and 1930, the halfpenny of 1923, shilling of 1933, and sovereigns between 1855 and 1858 command good prices and are traded for their bullion value.
Decimal Coinage
In 1966, the pound system got converted to the decimal system of currency where One Dollar equaled Ten Shillings. The Royal Australian Mint at Canberra, the nation's capital, started to produce the Australian coins. Sets of uncirculated coins and mint condition coins are produced each year. Special event coins are produced using precious metals like silver and gold. The 50 cent coin of 1966 can make up a kilogram of silver! In 1966, the Australian dollar was worth 980 milligrams of gold and in 2005, it was 57 milligrams of gold. The kangaroo in 99% gold and kookaburra in silver are highly attractive for their value and unique, spectacular designs. These coins portray Queen Elizabeth II of Australia on the obverse side and Australian native fauna on the reverse. The five, ten, twenty and fifty cent coins have Copper and Nickel, while the one and two dollar coins have Aluminum Bronze.
The five-cent Australian coin, the smallest silver coin, features echidna. The ten-cent coin shows Lyrebird, renowned for its ability to mimic all kinds of sounds. The twenty-cent coin displays platypus. The fifty-cent coin has the Australian Coat Of Arms with kangaroo and emu on either side of a shield. The one dollar coin has five kangaroos in various stylized poses. The two-dollar coin depicts a bearded, elder tribesman of the native Aborigines and the Southern Cross, the star constellation. The one and two cent coins had been withdrawn from circulation in 1990-1992.
Australian coins are presented in extremely attractive packages, protecting them from damage. The Silver Kangaroo coin design in 2006 won the 'Best Silver Coin 2006' international award. All of these are highly sought after and are produced in limited numbers making them highly attractive for investments.
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Article Source :
http://www.articleseen.com/Article_Create Fortune With Australian Coins_29070.aspx
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Author Resource :
Australian coins are all legal tenders and can be used directly as currency. The Australian coin can also be converted to normal coinage at a bank.
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Keywords :
australia coins, money investment, investment,
Category :
Finance
:
Investing
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