Aussie coinage worth more in scrap than legal tender? - Aussie Stock Forums

# Thread: Aussie coinage worth more in scrap than legal tender?

1. ## Aussie coinage worth more in scrap than legal tender?

Ive always been a fan of coinage over bills for their store of wealth in Instrinsic value, so figured id crunch some numbers

Formula .....

Copper @ US6630t/1000=6.63kg/1000=.0063gm x 1.15 = AUD.0072 per gram

Nickel @ US26,495t/1000=26.50kg/1000=.0265 x 1.15 = AUD .030 per gram

Althou 1c and 2c are out of circulation ill start with the .....

1c weight 2.59gm (97pc copper/2.5pc inc/.5pc nickel) Ill jut do it assuming all copper for ease .....

2.59 x .0072 = .018 (1.8c each)

2c weight 5.18gm

5.18 x .0072 = .037 (3.7c each)

No wonder we needed to get rid of 1c and 2c eh ? 80pc jump in value if you saved all your old coppers!

5c weight 2.83gm (75pc copper 25pc nickel)

2.83x.75 = 2.12 gram of copper @ .0072 = .015c
2.83x.25 = .7 gram of nickel @ .7 = .018

.018+.015 = 3.3 cents per 5c piece ....

10c and 20c double in weght/legal tender/Instrinsic value

So a 50pc Jump in prices over time will make 5 10 and 20c pieces manufactor a loss to the Gov !

Whats a 100 bill cost to print ? probably less than a cent ?

The old 20c or Florin was made with 90pc silver prior to 1946 and they are worth \$5 in scrap !

Boring to most im sure, but I love "real" money

2. ## Re: AUssie Coinage worth more in scrap than Legal Tender ?

Old, round 50c pieces are worth \$4-5 a pop as well. A 10 bagger right there

3. ## Re: AUssie Coinage worth more in scrap than Legal Tender ?

Originally Posted by numbercruncher
Ive always been a fan of coinage over bills for their store of wealth in Instrinsic value, so figured id crunch some numbers

Formula .....

Copper @ US6630t/1000=6.63kg/1000=.0063gm x 1.15 = AUD.0072 per gram

Nickel @ US26,495t/1000=26.50kg/1000=.0265 x 1.15 = AUD .030 per gram

Althou 1c and 2c are out of circulation ill start with the .....

1c weight 2.59gm (97pc copper/2.5pc inc/.5pc nickel) Ill jut do it assuming all copper for ease .....

2.59 x .0072 = .018 (1.8c each)

2c weight 5.18gm

5.18 x .0072 = .037 (3.7c each)

No wonder we needed to get rid of 1c and 2c eh ? 80pc jump in value if you saved all your old coppers!

5c weight 2.83gm (75pc copper 25pc nickel)

2.83x.75 = 2.12 gram of copper @ .0072 = .015c
2.83x.25 = .7 gram of nickel @ .7 = .018

.018+.015 = 3.3 cents per 5c piece ....

10c and 20c double in weght/legal tender/Instrinsic value

So a 50pc Jump in prices over time will make 5 10 and 20c pieces manufactor a loss to the Gov !

Whats a 100 bill cost to print ? probably less than a cent ?

The old 20c or Florin was made with 90pc silver prior to 1946 and they are worth \$5 in scrap !

Boring to most im sure, but I love "real" money

To be honest, I like the concept of coins. I believe it adds some value to the dollar! At least our currency is backed by...errm, Nickel & Copper!

Might be time to start hoarding 20c pieces, think it'll look suss going to a bank & buying 20k worth of em?

Less than a cent? I doubt it. Energy costs, dyes, material, fancy water marks & transparent windows...individual note ID numbers. I believe we should abolish notes, & create 1k Coins etc - with security features; heck - why don't countries adopt something along the lines of casino chips for legal tender?

4. ## Re: Aussie coinage worth more in scrap than legal tender ?

Doctorj,can beat your 5-10 bagger.I have vending machines and someone once told me to look through my \$1 coins for something called a mule coin.Take a look on ebay if there are any for sale,it is a \$1 coin stamped on the Queens head size with a 10c stamp causing a double lip-they sell for about \$1200 upwards!There is also a 1966 20c coin that is worth about \$250ish.UNFORTUNATELY i have found neither Consecutive numbered mint notes are also worth lookin at

5. ## Re: Aussie coinage worth more in scrap than legal tender ?

no such thing as a mule coin, its fraud..

6. ## Re: Aussie coinage worth more in scrap than legal tender?

Actually even at current prices 5/10/20c must be a headache for the powers that be ...... a 5c peice costs 3.3c just in raw materials let alone manufactor costs, love it

7. ## Re: Aussie coinage worth more in scrap than legal tender?

Originally Posted by numbercruncher
Actually even at current prices 5/10/20c must be a headache for the powers that be ...... a 5c peice costs 3.3c just in raw materials let alone manufactor costs, love it
Speaking to a coin dealer earlier this year, 20c coins were then worth about 19-19.5c in the metal alone, although that has come down now. They were making a loss on the whole process, so stopped producing them. So keep an eye out for 2007 dated coins, get a proof set or two, and see what happens...

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