http://thenumismatist-coincollector...+Collecting+(and+other+Numismatic+Interests)) [h=3]wo Australian Coins No Longer Legal Tender[/h] What two coins are the only Australian coins to have been demonetized by having their legal tender status revoked? The holey dollar and dump are the only two Australian coins to have lost their legal tender status. The Holey Dollar
all pre decimal australian coins have been de-monetized the holey dollar and the dump were originally used as circulationg coinage in new south wales and because of the shotage of coinage spanish american coins were used as circulating coinage by cutting out the centre and counter stamping both the ring and the centre. incidentally recently australia have issue similar pieces as NCLT with the outer being the dollar and the dump being worth 25 cents............................
OP is correct. The only Australian coins to have been demonetised are the Holey Dollar and the Dump. All other coins can be technically exchanged for today's currency at the bank.
Have been wondering about the word "demonetized" in English (which is not my primary language). There are coins that were withdrawn from circulation but are still legal tender; those would probably not be in the "demonetized" category. Then there are those that are not legal tender any more but can still be redeemed; would they be called "demonetized"? Or does that apply only to coins that cannot be redeemed any more, and thus have only numismatic and/or intrinsic value? (And is there a universally accepted definition at all? ) Christian
Demonitized: no longer accepted as coin of the realm. Can not be spent nor redeemed. May have numismatic or intrinsic value.
Demonetarized means no longer legal tender, as far as I know. The last time the US government did that was in 1857 when they demonetariezed all the Spanish silver.
Well, coins that are no longer legal tender may still be redeemable. But the article in the first post makes sense if we use the explanation that TheCoinGeezer (thanks!) provided ... Christian
Ah hah. That is really a different issue. Most governments will exchange demonetized money for a significant period of time..otherwise they create financial panic. Such a government might find it diffucult to become reelected. Can you still spend Ducats as currency in Germany?
While pretty much every coin and note issued in this country (1949-today) can still be redeemed, that does not mean they are legal tender; that is why I asked about the meaning of demonetization. And no, denarii, ducats or talers you cannot spend here. Christian
well whoever demonatorized Talers must have paid a huge political cost for that. Stormed the castle and everything.
