Australian Coins
The Story Behind The Shine

James T. Hannagan - 29 October 2011 

Australian coins are used as currency throughout the Commonwealth of Australia, including Christmas, Cocos and Norfolk Islands. Australian coins are said to be manifestations of the development of Australian history. From the very first coins used in Australia since 1788, to that of the latest designs and denominations, the richness of their culture is truly evident. The designs of these coins are very distinct, contributing to their fame and popularity with coin collectors throughout the world.

The Mint

The Royal Australian Mint is responsible for the manufacture and production of Australian coins and other metal structures such as medals and badges. The Royal Australian Mint is located in Canberra, where coins are mainly produced. Before the existence and operation of The Mint as it is more popularly called nowadays, Australian coins were produced from different areas situated in Melbourne, Perth and Sydney. This Royal Australian Mint is known to be the first one in Australia which is not a branch of the main Royal Mint located in London. The mint periodically produces commemorative pieces, all of which are legal tender.

How Australian Coins Came About

Various coinage were developed since the early days of european settlement, due to the need for a reliable monetary system in the new colonies. The early colonies faced a shortage of coins, with settlers often preferring barter for trade purposes. The coins of various other countries, including Holland and Spain, were commonly used until British currency was officially adopted in 1825, remaining in usage until 1910 when Australia introduced its own silver coins, based on the Australian Pound. In 1966, the Australian Pound system was replaced with the Australian Dollar - a decimal unit of currency. This coincided with the country's adoption of the metric system.

Coins produced upon the introduction of the Dollar were 1, 2, 5, 10, 20, and 50 cent pieces. In 1984, the 1 dollar coin was introduced, followed by the 2 dollar coin in 1988 - both replacing notes of the same value. Inflation during the 1980's eventually led to the face value of 1 and 2 cent coins being lower than the value of the copper alloy they were made from, and these coins were subsequently discontinued and removed from circulation in 1991.

The Content

Australian coins are made of gold and silver coloured alloys and come in various sizes. The weights also greatly differ from one type of coin to the next. The terms gold and silver are simply used to describe the appearance of the coin. The 1 and 2 dollar coins are composed of copper, aluminium and nickel, whilst the "silver" coins are made out of 75% copper and 25% nickel.

Australian coins, like most Commonwealth coinage, feature medallic orientation. This means that the upside of the coin's obverse side matches the upside of its reverse. This is the opposite of United States coinage, which employs coin orientation. Australia's coins mostly depict australian fauna on one side, and all coins display an image of Queen Elizabeth II on the obverse.

The Denominations

Australian coins come in different amounts or denominations which range from cents to dollars. They include 5, 10, 20 and 50 cents together with 1 and 2 dollars. One of the most used among these denominations is the 1 and 2 dollar coins. There have been previously made coins that have been out of the circulation and this includes the copper coins. Only the gold and silver coins remain in circulation nowadays.

Australian coins are readily distinct from one another in both size and weight. The largest - also being one of the largest in size in the world today - is the 50 cent coin, which is also the only Australian coin that is not round, resembling a do-decagon or a twelve sided polygon. Other denominations have round and milled edges. Thickness and strength of color also varies among the Australian coins. Some are thicker and are heavier with a darker gold shade as compared to others.

Australian coins offer unique depictions of the richness of Australian culture. They have been brought about by necessity through time and now, is making the economy alive through its circulation.

Source: http://www.articlesbase.com/finance-articles/australian-coins-the-story-behind-the-shine-5347868.html

 
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