Australian one-cent coin – Wikipedia

erstwhile denomination of australian currency

The cent, formally the one-cent coin, was the lowest-denomination coin of the australian dollar. It was introduced on 14 February 1966 in the decimalization of australian currentness and was withdrawn from circulation in 1992 ( along with the two-cent coin ). [ 1 ] [ 2 ] It is still minted as a non-circulating mint. One-cent and two-cent coins are legal tender only up to the sum of 20 cents ( preventing large debts from being paid in little coins ). [ 3 ]

description [edit ]

From 1966 until 1984 the obverse featured the portrayal of Queen Elizabeth II by Arnold Machin. It was changed in 1985 to a adaptation by Raphael Maklouf, which remained until its withdrawal from circulation in 1992. [ 4 ] The revoke side of the mint features the persona of a feathertail glider ( Acrobates pygmaeus ), a gliding opossum alone to australian states bordering the Pacific Ocean. The image was designed by Stuart Devlin, who designed the reverses of all of the original Australian decimal coins .

production [edit ]

The first issue ( 1966 ) was produced by three mints : 146.5 million were minted at the Royal Australian Mint in Canberra, with 239 million at the Melbourne Mint and 26.6 million at the Perth Mint. With the exception of 1966 and 1981, all other one-cent coins have been produced at the Canberra batch. In 1981, 40.3 million were struck at the british Royal Mint in Llantrisant, Wales, ampere well as 183.6 million in Canberra. The merely year when it was not minted during its years in general circulation was 1986. It was last minted in 1990. [ 5 ] The decision to remove the one and two-cent coins was confirmed by the Treasurer in a Budget Speech on 21 August 1990. [ 5 ] The action was due to inflation reducing its rate, and the high price of bronze. [ 5 ] Around the same time other countries removed their tan coins—New Zealand removed its one and two penny coins in 1990, while the United Kingdom and Ireland changed their bronze one and two penny coins into copper-plated steel. The one penny coin was produced as proof and uncirculated coins in 1986, 1991, 2006 and 2010 as separate of mint sets. other compositions were besides used for 1 cent coins such as the 1978 ( incorrectly listed as 1968 at Downies ) specimen struck in aluminum [ 6 ] or fine silver proof in 1991, 2006 and 2011.

After removal from circulation, the coins were melted down to make bronze medals for the 2000 Sydney Olympics. [ 7 ] In 2017, a limited edition Possum Magic themed coin set was released. A one-cent coin is included that shows Hush the Possum reading a book. [ citation needed ]

References [edit ]

  • Ian W. Pitt, ed. (2000). Renniks Australian Coin and Banknote Values (19th ed.). Chippendale, NSW: Renniks Publications. ISBN 0-9585574-4-6.
Preceded by denomination Created One Cent (Australian)
Succeeded by swallow from circulation

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Category : Finance

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