Wednesday, January 7, 2009

Making Money on Day Three



My third stop promises to be more interesting than the last: the Royal Australian Mint.

I have missed the 2009 Kangaroos at Sunset ballot! There are only 1,000 of these $25 gold coins being made and I am too late. I confess I thought it was free at first and then realised I would be entering a ballot for the privilege of buying a $25 coin for $395 (with free postage and handling).

The Mint opened in 1965 and has produced over eleven billion circulating coins and has the capacity to produce over two million coins per day, or over six hundred million coins per year. Interesting to remember if we are in a recession/depression. Wheelbarrow manufacturers take note.

The Mint also manufactures medals, medallions and seals – from the Order of Australia medal to the Conrad Jupiter's Casino tokens.

There is a worn and damaged coin policy. Basically if you have a necklace made of ten $2coins with a big hole in the middle of each one you can’t send it to the Mint to convert into 10 shiny new $2 coins without the holes. You could try giving it to an authorised deposit taking institution and see if they have any luck getting scrap value for the coins. The Mutilated Coin Claim Form is only one page long.
Anyone can submit a design for a commemorative coin. There are certain things that cannot be depicted on a circulating commemorative coin including non-royals, themes connected with a religious organisation, political group or commercial enterprise as they are likely to cause public divisiveness and periodic events or festivals that are not of national significance. I guess that cuts my birthday out.

If you visit the mint you can make a coin, watch a video or just have a bbq.

What I learned that was special:
• Coins have an obverse and reverse design. The queen’s effigy is on the obverse side.

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