Category Archives: News Items

What are Mint and Proof Sets? Basic Lesson 4

 

These sets contain the coins issued by the Royal Australian Mint (RAM) for use as currency (sometimes called circulation coins as discussed in Lesson 3). The sets usually contain the standard circulating coins of the year, however in the later issues some of the commemorative coins  started to appear.

Mint Sets

1994  Mint Set

1994 Mint Set issued by RAM

The coins used for mint sets are the coins minted by RAM for circulation. They are in mint condition in contrast to the coins distributed in the banking supply system, not having the usual bag knocks or rubbing marks.
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What are Commemorative Coins.? Basic Lesson 3

1993 $1 Royal Melbourne Show

Packaging used to house the 1993 $1 Landcare coin

 

Commemorative circulating coins are minted by the Royal Australian Mint (RAM) and have a unique design celebrating an important event or anniversary. They are therefore the non standard designs, but are still released for use as circulating currency and are legal tender.  These are the main types:

 

  1. Commemorative circulating coins minted for use as currency can be found in your loose change. These are minted for circulation and distributed the same way as standard  currency coins,  mainly through the bank system,  although some go to coin dealers who add value by putting them in special packaging to sell through retail outlets.  For example, the Landcare coin shown above.  These are type of commemorative coins that we will be discussing in this blog.  We will be offering blogs on the other types, below, in later editions.
  2. NCLT coins (non circulating legal tender coins)
  3.  Silver commemorative coins
  4. Coins minted just for the collector market

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What are Coins for Circulation? Basic Lesson 2

aust currency

I have written this blog about Australian circulating coins but the principle applies to other countries and currencies.
The Australian circulating coins are minted by The Royal Australia Mint (RAM) and are the coins you will find in your change. They are the coins (cash) used to buy and sell goods in the normal course of commerce.
The Perth Mint and occasionally other mints have minted coins for the Commonwealth of Australia during times of increased demand. Also the gold sovereigns were minted by various mints operating in Australia at the time.
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What are bullion coins? Basic Class 1

Dragon Silver Coin

Dragon Silver Coin

The Perth Mint is the official supplier of Australian Bullion coins with the Royal Australian Mint concentrating mainly on circulating coins (the coins you will find in your change).

Australian Bullion coins are composed of Gold, Silver or Platinum. These are released every year with a different design making them one of the few bullion type coins to change design each year.

They are of a specimen or uncirculated quality. They are known as bullion or specimen coins.  In other words they are not finished to the polished mirror like finish you will find in proof coins but are of a better quality than coins issued for circulation.

These specimen bullion coins cover the Kookaburra, Koala and Lunar releases. They have relatively high mintage numbers and are released worldwide. They come in capsules with no Certificate of Authenticity (COA) or packaging box.  The mint last year also released a new type of bullion coin that comes in a tube, similar to the US Eagle coins.  The first design been a saltwater crocodile. Continue reading

Book on Collecting Australian Decimal Coins

Australian Coin Collecting

My book on coin collecting is now ready.

I am at the moment sending out Free copies of my book in a PDF format, if you would like a copy visit  Silver Spirit Coins Web site and sign up on my email subscription list and a free copy will be sent to you.

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What is a Dollar Worth?

1966 50c Round Coins

 

What is a dollar worth? Not much according to the latest Treasury release.  Treasury released the actual cost of the metals used  to make the currency.

The Australian $1 coin comprises

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India to pay gold instead of dollars for Iranian oil


Oil

The first report of the diminishing role of paper or fiat currencies I have seen for a while, at least, and it comes from the well connected DEBKAfile

DEBKAfile goes on to say ‘India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar.   China is expected to follow suit.  India and China take about one million barrels per day, or 40 percent of Iran’s total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.’
 
With China and India opting out of the US led European sanctions against Iran’s international oil and financial business the consequences for gold and silver will be interesting to say the least

Reports have been circulating some time now for oil to be paid in gold instead of US dollars, Gadaffi also proposed such a scheme but this is the first time a reliable source has come up with solid practical information.

It makes the case for having a few coins in gold or silver an increasingly good idea.