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jadedragon
Administrator
Canada
3788 Posts |
 Posted - 05/22/2008 : 10:09:51
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Found this story - sounds like Canada/US except they have 3 denominations, not just pennies and nickels that are worth more dead then alive. Anyone want to start hoarding down under?
March 09, 2008 01:00am
THE size and composition of some of Australia's coins could be changed because of the soaring cost of copper and nickel.
For the first time, the metal value of the 5¢, 10¢ and 20¢ coins, which are made of the alloy cupro nickel, will this year overtake their face values.
The metal content of the 10¢, 20¢ and 50¢ pieces is already worth more than the metal in the $1 and $2 coins, which are made of aluminium bronze.
The 5¢ coin has a metal cost of 4.89¢, the 10¢ coin 9.78¢ and the 20¢ coin 19.56¢. The metal cost of the $1 coin is 8.3¢; the $2 coin 6.1¢. (Figures derived from Royal Australian Mint contracts made late last year.) With copper and nickel prices up about 30 per cent, some new coins will cost more to make than face value.
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“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 05/22/2008 : 20:47:31
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Interesting story thanks.
Steiner |
Steiner |
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fiatboy
Administrator
912 Posts |
Posted - 05/22/2008 : 20:49:43
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Gresham's Law strikes again.  |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/30/2008 : 02:23:32
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| And my friends from the land down under just gave me a bunch of cool designed coins yesterday - but I'm saving them not melting them! New market for those Ryedales? |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/30/2008 : 07:26:59
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| Maybe CopperBullion will get in on that action. |
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Think positive. |
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Austrilian Coins Worth More Dead then Alive.
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