Search

Placeholder Content Image

Rare coin hidden for decades to fetch eye-watering sum

<p>Three sisters from the US who inherited a dime coin kept it in a bank vault for more than 40 years, and while they know it had some value, they didn't know just how much until a few years ago. </p> <p>The rare coin, struck by the US Mint in San Francisco in 1975, could be worth more than $US500,000 ($748,000), according to Ian Russell, president of GreatCollections, the auction house selling the coin. </p> <p>What makes the coin depicting President Franklin D. Roosevelt so valuable is that it is just one of two coins missing the "S" mint mark for San Francisco. </p> <p>The other dime sold for  $US682,000 (over $1 million) at a 2019 auction and then again months later to a private collector. </p> <p>While avid coin collectors have known about the existence of these two extraordinarily rare coins, their whereabouts had remained a mystery since the late 1970s. </p> <p>“They were hidden for decades,” Russell said.</p> <p>“Most major collectors and dealers have never seen one.”</p> <p>The three sisters from Ohio, who want to remain anonymous,  inherited one of the two dimes after the recent death of their of their brother, Russell said. </p> <p>They told Russell that their brother and mother bought the first error coin discovered in 1978 for $27,225, which would amount to roughly $135,000 today.</p> <p>Their parents, who ran a dairy farm, saw the coin as a financial safety net, and it was only until last year that one of the sisters saw the coin first-hand. </p> <p>Russell also said that their brother had reached out to him about seven years ago and told him about the coin, but he too kept it a secret. </p> <p>When Russell told one of the sisters about the potential value of the coin, she told him: “is that really possible?”. </p> <p>The coin, known as the “1975 ‘no S’ proof dime,” will be displayed at a coin show beginning on Wednesday in Tampa, Florida, and before <a href="https://www.greatcollections.com/Coin/1655587" target="_blank" rel="noopener">the auction</a> closes late next month, Russell said.</p> <p>The current highest bidder has offered $US250,000 ($374,000).</p> <p><em>Images: Great Collections/ Professional Coin Grading Services</em></p>

Money & Banking

Placeholder Content Image

Pitch to ditch the King from Aussie coins

<p>Bob Katter is calling for a major overhaul of Australian coins, saying King Charles' image should be scrapped from the currency. </p> <p>The federal MP touted an alternative design for the national coins, suggesting it could feature a Kalkadoon warrior or distinguished Australian soldier Ralph Honner.</p> <p>“Surely you’d put Kokoda hero Ralph Honner on your coin, not some British monarch, demonstrating that you don’t believe that all people are born free and equal and that you don’t believe you’re a separate country, that you’re a nationalistic Australian,” Katter said on Monday.</p> <p>The Queensland MP plans to move an amendment to the Crown References Amendment Bill to omit references to the monarchy and substitute the words “sovereign people of Australia”.</p> <p>“For heaven’s sake, get rid of the affirmation that we believe that all people are free and equal,” Katter said.</p> <p>“If you’ve got a monarch on your coin, you do not believe that all people are free and equal.”</p> <p>Katter's pitch comes just weeks after the Royal Australian Mint last month unveiled the effigy of King Charles III, which will be seen on Australian coins by Christmas.</p> <p>For decades, the country’s coins have carried an image of Queen Elizabeth II, who died in 2022.</p> <p>The Royal Mint also recently announced the production of a <a href="https://oversixty.com.au/finance/money-banking/new-commemorative-queen-coin-worth-serious-cash" target="_blank" rel="noopener">commemorative coin</a> in honour of the late Queen Elizabeth, which is already in high demand among royal fans and avid coin collectors. </p> <p><em>Image credits: Getty Images</em></p>

Money & Banking

Placeholder Content Image

New commemorative Queen coin worth serious cash

<p>The Royal Australian Mint has confirmed that it will be releasing a commemorative 50c coin to celebrate the life of Queen Elizabeth II, on Thursday. </p> <p>The coin will feature all six effigies which have been featured on Australian coins during the late monarch’s reign, with two versions up for sale. </p> <p>One is an uncirculated version which will cost $15 and, the other is silver proof edition for $135.</p> <p>“With limited mintage, this coin is expected to be a highly prized addition to any coin collection,” the Mint said. </p> <p>Australian coin expert Joel Kandia said that online marketplaces are already selling the coin at “seven times the RRP”. </p> <p>Royal Australian Mint CEO Leigh Gordon added that this latest release is the perfect tribute to the late Queen. </p> <p>“Historically, coins bear witness to a Monarch’s reign with their royal effigies appearing on the obverse. In keeping with that tradition, this exceptional coin showcases the Queen Elizabeth II Memorial Effigy by Jody Clark on the obverse,” he said. </p> <p>“The Mint’s trademark storytelling is strongly represented on the coin’s reverse, which features a central design depicting the first six effigies, fanned above the Queen’s royal cypher.”</p> <p>This surprise release will be in high demand, with a “frenzy” expected for coin collectors, according to the Perth coin and bank note expert. </p> <p>“It is essentially the last coin commemorating the Queen,” Kandiah said in an interview with<em> 7News</em>. </p> <p>“It is extremely special because it features all six effigies of the Queen that have appeared on Australian coinage since 1954, so it unique in that respect.</p> <p>“There will definitely be a frenzy, which is why the RAM have reduced the allocation to just one per person through their physical store, through the phone and their authorised distributors.</p> <p>“There have been murmurings about the coin for a while, so collectors are really excited to see it confirmed and able for purchase.”</p> <p>The uncirculated coin itself will have a mintage of  25,000 and the silver proof version has an even lower mintage of 7,500. </p> <p>The coins will be for sale at the Royal Australian Mint in Canberra from 8.30am on Thursday November 23, through the Mint’s Contact Centre on <strong>1300 352 020</strong>, or through the Mint’s authorised distributors.</p> <p><em>Image: Royal Australian Mint</em></p>

Money & Banking

Placeholder Content Image

Bees have appeared on coins for millennia, hinting at an age-old link between sweetness and value

<p><em><a href="https://theconversation.com/profiles/adrian-dyer-387798">Adrian Dyer</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p>In 2022, the Royal Australian Mint issued a $2 coin decorated with honeybees. Around 2,400 years earlier, a mint in the kingdom of Macedon had the same idea, creating a silver obol coin with a bee stamped on one side.</p> <p>Over the centuries between these two events, currency demonstrating a symbolic link between honey and money is surprisingly common.</p> <p>In a recent study in <a href="https://s3.ap-southeast-2.amazonaws.com/assets.mmxgroup.com.au/ACR/Bee+Article.pdf">Australian Coin Review</a>, I trace the bee through numismatic history – and suggest a scientific reason why our brains might naturally draw a connection between the melliferous insects and the abstract idea of value.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=600&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=600&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=600&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=754&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=754&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536400/original/file-20230709-15-2u5ywn.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=754&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">A Royal Australian Mint 2022 two-dollar coin representing 200 years since the introduction of the honeybee to Australia.</span></figcaption></figure> <h2>What is currency and why is it important?</h2> <p>Money is a store of value, and can act as a medium of exchange for goods or services. Currency is a physical manifestation of money, so coins are a durable representation of value.</p> <p>Coins have had central role in many communities to enable efficient trade since ancient times. Their durability makes them important time capsules.</p> <p>Ancient Malta was famous for its honey. The modern 3 Mils coin (<a href="https://en.numista.com/catalogue/pieces1775.html">1972-81</a>) celebrates this history with images of a bee and honeycomb. According to the information card issued with the coin set,</p> <blockquote> <p>A bee and honeycomb are shown on the 3 Mils coin, symbolising the fact that honey was used as currency in Ancient Malta.</p> </blockquote> <figure class="align-center "><img src="https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=582&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=582&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=582&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=732&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=732&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536403/original/file-20230709-23-drk2lj.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=732&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">A circulating 3 Mils coin from Malta showing a honeybee on honeycomb.</span></figcaption></figure> <p>In ancient Greece, bees were used on some of the earliest coins made in Europe. A silver Greek obol coin minted in Macedon between 412 BCE and 350 BCE, now housed in the British Museum, shows a bee on one side of the coin.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=293&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=293&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=293&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=368&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=368&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536411/original/file-20230709-182252-v4evxr.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=368&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">An ancient obol from Macedon, dated between 412 BCE and 350 BCE, shows a bee one side.</span></figcaption></figure> <p>Bees also feature on coins minted elsewhere in the ancient Greek world, such as a bronze coin minted in Ephesus dated between 202 BCE and 133 BCE.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=546&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=546&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=546&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=686&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=686&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536407/original/file-20230709-27-a2jvo3.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=686&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">A bronze coin minted in Ephesus, dated between 202BCE and 133BCE, featuring a honeybee.</span></figcaption></figure> <p>The use of bees on ancient coins extended for many centuries including widely circulated bronze coins, and new varieties <a href="https://coinweek.com/bee-all-that-you-can-bee-honeybees-on-ancient-coins/">continue to be discovered</a>.</p> <h2>Why we might like bees on coins</h2> <p>Why have bees appeared so often on coins? One approach to this question comes from the field of neuro-aesthetics, which seeks to understand our tastes by understanding the basic brain processes that underpin aesthetic appreciation.</p> <p>From this perspective, it seems likely the sweet taste of honey – which indicates the large amount of sugar it delivers – promotes positive neural activity <a href="https://brill.com/view/journals/artp/10/1/article-p1_2.xml">associated with bees and honey</a>.</p> <p>Indeed, primatologist Jane Goodall once proposed that obtaining high-calorie nutrition from bee honey may have been <a href="https://www.sciencedirect.com/science/article/abs/pii/S0066185668800032">an important step</a> in the cognitive development of primates.</p> <p>Our brain may thus be pre-adapted to liking bees due to their association with the sweet taste of honey. Early usage of bees on coins may have been a functional illustration of the link between a known value (honey) and a new form of currency: coins as money.</p> <h2>The bee on modern coins</h2> <figure class="align-center "><img src="https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=588&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=588&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=588&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=738&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=738&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536393/original/file-20230709-17-jywq3f.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=738&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">A 1920 Italian bronze ten-centesimi coin featuring featuring an Italian honeybee on a flower.</span></figcaption></figure> <p>The use of bees as a design feature has persisted from ancient to modern times. A honeybee visiting a flower is shown on a series of ten-centesimi bronze coins issued in Italy from <a href="https://en.numista.com/catalogue/pieces1960.html">1919 to 1937</a>.</p> <p>(As an aside, the world’s last stock of pure Italian honeybees is found in Australia, on Kangaroo Island, which was declared a sanctuary for Ligurian bees by an <a href="https://www.legislation.sa.gov.au/home/historical-numbered-as-made-acts/1885/0342-Lingurian-Bees-Act-No-342-of-48-and-49-Vic,-1885.pdf">act of parliament</a> in 1885.)</p> <figure class="align-center "><img src="https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=586&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=586&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=586&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=737&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=737&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536416/original/file-20230709-15-60yst8.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=737&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">A coin from Tonga showing 20 honeybees emerging from a hive.</span></figcaption></figure> <p>More recently, a 20-seniti coin from the Pacific nation of Tonga shows 20 honeybees flying out of a hive. This coin was part of a series initiated by the Food and Agriculture Organization of the United Nations to promote sustainable agricultural and cultural development around the world.</p> <p>Bees are relevant here because their pollinating efforts contribute to about one-third of the food required to feed the world, with a value in excess of <a href="https://zenodo.org/record/2616458">US$200 billion per year</a>, and they are threatened by climate change and other environmental factors.</p> <h2>Bees on coins, today and tomorrow</h2> <p>Public awareness of bees and environmental sustainability may well be factors in the current interest in bee coins. The diversity of countries using bees as a design feature over the entire history of coins suggests people have valued the relationship with bees as essential to our own prosperity for a long time.</p> <p>In Australia, the 2022 honeybee $2 coin is part of a series developed by the <a href="https://www.ramint.gov.au/about-mint">Royal Australian Mint</a>. In 2019, the Perth Mint in Western Australia also released coins and stamps celebrating native bees.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=373&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=373&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=373&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=469&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=469&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/536405/original/file-20230709-15-iditcb.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=469&amp;fit=crop&amp;dpr=3 2262w" alt="" /><figcaption><span class="caption">Australian native bee coin and stamps released in 2019 by the Perth Mint.</span></figcaption></figure> <p>Despite the decline of cash, bee coins still appear to be going strong. The buzzing companions of human society are likely to be an important subject for coin design for as long as coins continue to be used.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/208912/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/adrian-dyer-387798">Adrian Dyer</a>, Associate Professor, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p><em>Image credits: Australian Royal Mint / NZ Post Collectables</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/bees-have-appeared-on-coins-for-millennia-hinting-at-an-age-old-link-between-sweetness-and-value-208912">original article</a>.</em></p>

Money & Banking

Placeholder Content Image

Brand new mitey $2 coin revealed

<p> A brand new $2 coin has been revealed to celebrate 100 years of Australia’s beloved Vegemite.</p> <p>Woolworths and the Royal Australian Mint have partnered up for the release of the limited edition $2 coins marking 100 years of the infamous Aussie spread.</p> <p>Woolworths shoppers across the country will be able to collect three exclusive versions of the gold coin so long as they pay with cash.</p> <p>Three million limited edition coins will be available for customers, with a new design released to cash tills each week over a three-week period.</p> <p>The coins have been designed by Royal Australian Mint designer Aaron Baggio, with each featuring a unique illustration honouring Vegemite.</p> <p>Each of the three designs has a different coloured circle - yellow, red and black.</p> <p>The first coin shows a jar of Vegemite with the words “100 Mitey Years” at the bottom.</p> <p>Another features a slice of Vegemite toast with the words “Tastes Like Australia”, while the third features a child eating a slice of Vegemite toast with the words “Happy Little Vegemites”.</p> <p>Woolworths brand and marketing director Jane Sales said the supermarket has supported Vegemite for decades and is excited to be part of the centenary celebrations.</p> <p>“It’s been a staple in the shopping baskets of Australians for years; we’re delighted to be a part of the celebrations for this iconic brand’s centenary,” she said.</p> <p>As part of the celebrations, there will also be a $1 coin featuring the Queen Elizabeth II Memorial Obverse.</p> <p>The portrait of Queen Elizabeth II by British engraver Jody Clark, the Memorial Obverse also added the Queen’s years of reign – reading “Elizabeth II 1952-2022”.</p> <p>Assistant Minister for Competition, Charities and Treasury, Andrew Leigh, said Vegemite is one of the most loved brands across the country.</p> <p>“It is fitting the Royal Australian Mint has partnered with Vegemite and Woolworths to celebrate 100 Mitey years of an Australian icon,” he said.</p> <p>The Vegemite brand will be celebrating its 100th birthday on October 25, 2023, with Bega’s marketing manager for spreads, Jess Hoare, thanking all Aussies for loving the mitey product.</p> <p><em>Image credit: Getty/Royal Australian Mint</em></p>

Money & Banking

Placeholder Content Image

New $2 coin skyrockets in value to $1,200

<p>A coin expert has shared how a brand new $2 coin has soared in value just 10 days after its release.</p> <p>The accredited numismatist from Perth, Joel Kandiah, revealed the Royal Australian Mint’s latest Vietnam Silver $2 is now in high demand.</p> <p>Kandiah, known online as @TheHistoryOf_Money has attracted a large following on his Instagram and TikTok with his insights on the value of multiple coin and bank notes.</p> <p>Speaking to<em> 7News.com.au</em>, he said the coveted coin is selling for up to $1,200 online with an increase of 1,400 per cent on the retail value.</p> <p>Kandiah shared that the shocking price hike, “has never been witnessed before on the numismatic market”.</p> <p>He added that the Royal Australian Mint released two brand new Vietnam War commemorative $2 coins on April 6, 2023.</p> <p>The first coin was an uncirculated C mintmark that has a retail value of $15 and a mintage value of 80,000.</p> <p>The second coin was a silver version of that same coin, but was proof finished, meaning it had been struck multiple times and hand polished for a shiny, spot-free finish. That coin had a retail value of $80, and a lowly mintage of just 5,000.</p> <p>Both coins were initially in demand, however the silver $2 commemorative coin has seen a remarkable price increase.</p> <p>Kandiah said there were two reasons behind the massive interest in the silver coin.</p> <p>“The first reason for the hype of this coin is that it is the first silver version of a coloured two coin and will most likely the only version that will feature the Queen’s effigy,” he told <em>7News.com.au</em>.</p> <p>“It has a lower mintage than the most valuable coloured $2 coin, the Mars $2 coin from the 2018 Planetary Series collection, which is currently valued at around $4000.</p> <p>“The combination of these two factors have led to this price spiral which has never been witnessed before on the numismatic market.”</p> <p>Kandiah also revealed the release of the sought-after coin has stirred up a heated debate among coin collectors in Australia.</p> <p>“Within minutes of release, dealers across the country sold out of their allocations,” he explained.</p> <p>“Meanwhile, people were on the mint’s online store, call centre and in person in Canberra. Silver coins were completely sold out by the afternoon and the uncirculated coins were sold out by midnight.</p> <p>“People were waiting up to 16 hours in the Mint’s online queue system to try and get their hands on the coin.</p> <p>“Many collectors who were purchasing online had to compete with people from the ’sneaker bot’ community, who used sophisticated software to buy up new releases - only to release them on eBay at a significantly higher markup hours later.</p> <p>“By mid-afternoon, prices had gone up to $100 for the uncirculated coin and $300 for the silver coin.</p> <p>“Since then, the price of the uncirculated coin has fallen down to around $60 as ‘fear of missing out’ (FOMO) dies down.</p> <p>“However, the silver coin has continued to spike in price, which has now increased 15-fold to $1200 by April 16.”</p> <p>Kandiah said time will tell whether the silver coin will continue to increase in value.</p> <p>“Whether the value is due to FOMO, is too early to determine,” he told <em>7News.com.au</em>.</p> <p>“Once we find more people get hands on their orders from the Mint, it is likely that they will sell their coins to cash in on the price rise but the relative rarity of the coin could be a long-lasting factor in its valuation.</p> <p>“The coin collector market has changed considerably over the last few years and it is in a new space where the buying and selling are done with each other through Facebook groups and eBay rather than through dealers.</p> <p>“The democratisation and accessibility of this process has led to improved liquidity within the market and hence we will continue to see rapid fluctuations in the Australian coin collector market in the future.”</p> <p><em>Image credit: Instagram</em></p>

Money & Banking

Placeholder Content Image

New coin featuring Queen Elizabeth II carries hidden detail

<p>The final design for the coin featuring Queen Elizabeth’s profile has been released by the Royal Australian Mint.</p> <p>Since taking the throne in 1953, six portraits of the Queen have appeared on Australian coins and next year the late monarch will feature for the last time.</p> <p>The new design was unveiled this week, after her death in September, and will include her familiar profile but with a notable difference.</p> <p>Featuring British engraver Jody Clark’s portrait of Queen Elizabeth II, the memorial coin’s notable addition will include the Queen’s 70 years of reign and will read "Elizabeth II 1952-2022".</p> <p>Australian coin expert Joel Kandiah says this will be the first time this detail has appeared on an Australian coin. The change will only be for the collectable coin, and not for normally circulated coins.</p> <p>“Any new circulation coins minted next year will be dated 2022 until the King Charles III effigy is introduced,” he told 7News.</p> <p>The coin has been called Queen Elizabeth II Memorial Obverse and will be released in January 2023.</p> <p>Existing coins bearing the Queen’s profile will remain in circulation and continue to be legal tender forever.</p> <p>In the coming months, the Australian Government will announce details of the transition to the profile of King Charles III for all Australian coins.</p> <p>Assistant Minister for Competition, Charities and Treasury Andrew Leigh said: “This final series of collectable coins will serve as a lasting tribute to Her Majesty Queen Elizabeth II, and a reminder for all Australians of her 70 years of service to Australia and the Commonwealth".</p> <p><em>Image: Royal Australian Mint</em></p>

Money & Banking

Placeholder Content Image

UK couple strike gold under their kitchen floor

<p dir="ltr">A UK couple have made a surprising discovery while renovating their home, with their find selling for £754,000 ($AU 1.3 million) at auction.</p> <p dir="ltr">After ripping up the existing floorboards and jackhammering through the concrete in the kitchen of their East Yorkshire home, the couple uncovered a small urn containing 260 ancient coins.</p> <p dir="ltr">The <em>BBC </em>reported that the coins dated from 1610 to 1727 and belonged to the Fernley-Maisters, a family who traded through the Baltic region. </p> <p dir="ltr">Auction house Spink &amp; Son said Joseph Fernley and Sarah Maister were married in 1694 and lived in Ellerby.</p> <p dir="ltr">Joseph died in 1796 aged 76, and Sarah died aged 80 in 1745, with the family line “dying out soon after” according to the auction house.</p> <p dir="ltr">Auctioneer Gregory Edmund told the outlet that the sale sum was an “absolutely extraordinary” result and said the costly urn was no larger than a can of soft drink.</p> <p dir="ltr">“Picture the scene – you’re choosing to re-lay your uneven kitchen floor, you put a pick-axe through the concrete and just beneath you see a tiny sliver of gold,” he said.</p> <p dir="ltr">“At the time, you think it must just be a bit of electrical cable, but you find it’s a gold round disc and beneath it there are hundreds more.</p> <p><span id="docs-internal-guid-29911120-7fff-2ab8-6964-7eedba22d546"></span></p> <p dir="ltr">“I will never see an auction like this again.”</p> <p dir="ltr"><img src="https://oversixtydev.blob.core.windows.net/media/2022/10/coins-find.jpg" alt="" /></p> <p dir="ltr"><em>The coins were found during renovation works in an East Yorkshire home (left) before being sold at auction. Images: Spink &amp; Son</em></p> <p dir="ltr">Though the couple made the discovery in 2019, they have only just sent the coins to auction.</p> <p dir="ltr">Spink &amp; Son said the collecction was “one of the largest hoards of 18th Century English gold coins ever found in Britain”.</p> <p dir="ltr">The coins are only represent about £100,000 in today’s currency, but they attracted such a high price due to their rarity, which only skyrocketed after the find gained global attention and became the subject of media coverage.</p> <p dir="ltr">Selling in lots, the highest individual price for one of the coins was a hefty £62,400 ($AU 108,000), paid for a 1720 coin described by the auction house as “imperfect”.</p> <p dir="ltr">Mr Edmund described the bidding as “electrifying”, with the auction attracting the interest of collectors around the world.</p> <p dir="ltr"><span id="docs-internal-guid-946d24fb-7fff-52fe-56f6-1d2bba9289ea"></span></p> <p dir="ltr"><em>Image: Spink &amp; Son</em></p>

Real Estate

Placeholder Content Image

7th century gold coins found hidden in wall

<p dir="ltr">A collection of coins have been found concealed in a wall at a nature reserve in what has been described as an "extremely significant archaeological find".</p> <p dir="ltr">During an excavation at the Hermon Stream (Banias) in Israel, archaeologists found 44 gold coins dating back to the 7th century.</p> <p dir="ltr">Weighing in at about 170g, experts estimate that the hoard was hidden during the Muslim conquest in 635 CE.</p> <p dir="ltr">They say the discovery sheds light on this significant moment in history which saw the end of the Byzantine rule in the area.</p> <p dir="ltr">"We can imagine the owner concealing his fortune in the threat of war, hoping to return one day to retrieve his property," Yoav Lerer, the director of the excavation, told the <em><a href="https://www.bbc.com/news/world-middle-east-63122180" target="_blank" rel="noopener">BBC</a></em>.</p> <p><span id="docs-internal-guid-e2de019e-7fff-f560-1b33-b05e0737cf0b"></span></p> <p dir="ltr">"In retrospect, we know that he was less fortunate."</p> <p dir="ltr"><img src="https://oversixtydev.blob.core.windows.net/media/2022/10/ancient-coins1.jpg" alt="" width="1280" height="720" /></p> <p dir="ltr">Numismatic (currency) expert Dr Gabriela Bijovsky of the Israel Antiquities Authority said some of the coins were minted by Emperor Phocas (602-610 CE), while the majority were of his successor, Emperor Heraclius, with the latest coins the latter minted dating back to 635 CE.</p> <p dir="ltr">Eli Escusido, the director of the Israel Antiquities Authority, said it was a significant find and that the public could soon see the coins for themselves.</p> <p dir="ltr">"The coin hoard is an extremely significant archaeological find as it dates back to an important transitional period in the history of the city of Banias and the entire region of the Levant," he said.</p> <p dir="ltr">"The Israel Antiquities Authority, together with the National Parks Authority, will work together to exhibit the treasure to the public."</p> <p dir="ltr">Along with the coins, Israeli authorities said the excavation also uncovered remains of buildings and bronze coins, as well as water channels and pipes.</p> <p dir="ltr"><span id="docs-internal-guid-1fc84529-7fff-21de-638e-0c0babadf54e"></span></p> <p dir="ltr"><em>Images: Israel Antiquities Authority (Facebook)</em></p>

Money & Banking

Placeholder Content Image

King Charles III's new coin effigy finally unveiled

<p>The first coins to feature the effigy of King Charles III have been unveiled.</p> <p>The Royal Mint in the UK released the first look at the official effigy of the new monarch on Friday, announcing the coins will start to circulate in the coming months.</p> <p>The design was personally approved by the King himself and was sculpted by Martin Jennings. It will appear on commemorative 50 pence pieces and on the five pound note.</p> <p>Chief executive officer of The Royal Mint, Anne Jessopp said they were honoured to keep the effigy tradition going for more than 1000 years.</p> <p>“The Royal Mint has been trusted to make coins bearing the monarch’s effigy for over 1,100 years and we are proud to continue this tradition into the reign of King Charles III. Although technology has progressed, we continue to honour British craftsmanship passed down through the centuries,” Ms Jessopp said.</p> <p>“Her Late Majesty ruled with heart and devotion for 70 years, and this memorial collection commemorates her remarkable legacy as Britain’s longest-serving monarch.</p> <p>"To ensure everyone can hold a piece of history in their hand, the 50p will also enter circulation in the UK.”</p> <p><em>Read more: The Royal Mint</em></p> <p style="box-sizing: inherit; margin: 0px 0px 5px; padding: 0px; border: 0px; font-size: 14px; vertical-align: baseline; outline: none !important;"> </p>

Money & Banking

Placeholder Content Image

"This is the big one": Mars-themed coin rockets up in value

<p dir="auto">A set of unusual 2017 Australian coins has leapt in value and is now fetching upwards of $6,000 online – thanks in part to one very special element of the set, and of course to the recent passing of Queen Elizabeth II.</p> <p>The remarkable 10-piece Planetary Collection set, which was released to the public in 2017, shows each of the planets of our Solar System, and also includes Pluto and the Sun.</p> <p>Inside the intergalactic set, the 10 coins range from one cent to $5 and were originally sold for just $170 to savvy collectors - but it's one coin in particular that has rocketed the set's overall price: the Mars $2 coin.</p> <p><img src="https://oversixtydev.blob.core.windows.net/media/2022/09/big-marscoin.jpg" alt="" width="426" height="227" /></p> <p>Accounting for at least half of the set's overall $6000 value, Australian coin expert Joel Kandiah says that's why <a href="https://www.oversixty.com.au/finance/money-banking/why-the-value-of-these-coins-has-shot-through-the-roof" target="_blank" rel="noopener">demand for this coin has shot through the roof </a>and has been growing since 2020, when collectors were hunting for every single different version.</p> <p>However, the Mars $2 coin within the new set is the one that people are most eager to get their hands on.</p> <p>“People started buying up the entire sets because it's still relatively affordable. And that started pushing demand up for that coin specifically in a short space of time,” the social media personality said.</p> <p>Halfway through last year the sets were selling between $1,800 to $2,000.</p> <p>The 2012 Red Poppy and 2013 Purple coronation $2 coins are also spiking in value.</p> <p>The demand for the $2 coins has shot up even more after the death of Queen Elizabeth II.</p> <p>However, if you're hoping to discover one behind your couch cushions, you might be disappointed, as these box set coins were never intended to be used in general circulation. But if you DO know someone who made that wise $170 investment back in 2017, now is the time to tell them what they are sitting on!</p> <p><em>Image: Wynyardcoins.com.au</em></p>

Money & Banking

Placeholder Content Image

Why the value of these coins has shot through the roof

<p>Aussies around the country will be racing to check their wallets in light of the revelation that the value of two rare $2 coins has exploded virtually overnight.</p> <p>Leading Australian coin expert Joel Kandiah has shared that two coins in particular have shot up in value following the Queen’s death. The Perth based teacher is an avid coin collector and has racked up a huge following on Instagram and TikTok with his page, The History of Money.</p> <p>In a recent video he shared the 2012 Red Poppy coin and the 2013 Purple Coronation coin are now worth a combined total of $550. The increase in demand for these rare $2 coins is of course all due to the Queen’s passing.</p> <p>“The market has been hot for these two $2 coins, which are the lowest minted coloured $2 coins in Australian history,” Mr Kandiah explained in the video.</p> <p>The 2013 Purple Coronation $2 coin has a slightly higher mintage of 995,000, but its value has also soared.</p> <p>If the coins are in mint condition they could go for an even higher price. A simple search on Ebay will reveal a number of Red Poppy coins selling in recent days for between $390 and $434, while the 50c coin released for the Queen’s Platinum Jubilee initially sold for $12.50, but is now valued at $100.</p> <p>The 2019 “Effigies Over Time” collector set has also seen a huge spike in demand, with the price soaring from $50 two weeks ago to $250 in the current market.</p> <p>“I’ve been collecting for 27 years and I’ve never seen price rises like that ever,” Mr Kandiah said.</p> <p>According to Mr Kandiah, the 5c coin could also soon be taken out of circulation.</p> <p>The Royal Australian Mint disclosed that 5c coins currently cost 12c to make due to high metal prices. It also costs 24c to make a 10c coin and 48c to make a 20c.</p> <p>The cost is simply unfeasible for a coin everyone hates, Mr Kandiah said. The Queen’s death was the perfect time for authorities to reset a flawed system, according to the coin expert.</p> <p><em>Image: TikTok</em></p>

Money & Banking

Placeholder Content Image

Genius idea for leftover foreign coins

<p>Anyone who’s travelled knows how annoying it is to come home with a handful of foreign change.  But it seems as though there’s a solution.</p> <p>An Irish company called <a href="http://www.coindrum.com/" target="_blank" rel="noopener"><strong><em><span style="text-decoration: underline;">Coindrum</span></em></strong></a> is hoping to get rid of this lose change by creating a service that will collect this money at airports, where it can be exchanges for vouchers.</p> <p>The vouchers can then be spent at the airport.</p> <p>Coindrum has been successfully trialled at Dublin Airport, with some passengers reportedly depositing up to €300 in coins when taking advantage of the new service.</p> <p>The great advantage is Coindrum not only gives you the full value of the coins you deposit, but throws in a bonus 10 per cent on top, which is a significant mark up!</p> <p>The idea has proven popular not just with visitors who are heading back to countries where they’ve been using different currencies, but also with locals looking to offload their own euro coins.</p> <p>Based on the initial success Coindrum has plants to expand to major airports around the world, and has secured quite a sizeable $US 2 million in its latest round of funding.</p> <p>Coindrum chief executive Lukas Decker told Lonely Planet, “Travellers are currently getting stuck with their leftover coins when they are departing the currency area, so Coindrum offers a simple solution to this inconvenience. Instead of your change turning into dead weight, you get to buy something you love with it. Coindrum should and will be in every international hub airport worldwide as it offers a simple solution to a common problem.”</p> <p>Not only did Coindrum significantly boost shopping levels at Dublin Airport, it also cut down on pedestrian traffic with people spending less time fumbling around with coins at security checks.</p> <p><em>Image: Getty</em></p> <p> </p>

Travel Tips

Placeholder Content Image

Royal Australian Mint reveals the future of Aussie money

<p dir="ltr">The Royal Australian mint has revealed the future of Australia’s coins in the wake of Queen Elizabeth II's passing.</p> <p dir="ltr">Set to undergo a major revamp, King Charles III’s effigy will begin popping up on the back of newly minted coins in the new year.</p> <p dir="ltr">In an interesting change, he will now be facing to the left. It’s part of a tradition that dates back to the reign of Charles II in the 1600s, in which each new monarch must alternate in the direction they gaze.</p> <p dir="ltr">The Queen has been the only monarch to feature on Australia’s currency, which was introduced in 1966. The Queen’s face is minted on more than 15 billion coins, according to assistant Minister for Treasury Andrew Leigh.</p> <p dir="ltr">Treasury has been working with the Royal Australian Mint as well as the Perth Mint to plan for a change in the effigy on Australian coins, which will be supplied by the UK Royal Mint.</p> <p dir="ltr">Coins featuring the Queen will remain legal tender, so there will be a mix of both the new King and his mother in circulation for quite a while, with the coins featuring the monarch’s effigy to linger for an estimated 30 years at least.</p> <p dir="ltr">Queen Elizabeth II has appeared on money more than any other person in history, with her face adorning currencies in 35 countries, including the UK, Canada, Australia and New Zealand.</p> <p dir="ltr">The Royal Australian Mint has also confirmed that it had “no plans” to submit a design for King Charles’ effigy.</p> <p dir="ltr"><em>Image: Royal Mint of Australia</em></p>

Money & Banking

Placeholder Content Image

What will happen to Australia’s coins and $5 note?

<p dir="ltr">Australia’s coins and $5 note are set to change to show the head of King Charles III following the death of his mother.</p> <p dir="ltr">Queen Elizabeth II <a href="https://oversixty.com.au/news/news/queen-elizabeth-ii-dead-at-96" target="_blank" rel="noopener">passed away at the age of 96</a> on September 8 after she was placed under medical supervision due to her deteriorating health.</p> <p dir="ltr">She died at Balmoral Castle in Scotland on September 8 at 8.30 pm local time (3.30 am AEDT).</p> <p dir="ltr">Her heartbreaking death has rocked the world, including Australia as questions are raised on what will happen to their coins and $5 note. </p> <p dir="ltr">It’s been a long standing tradition, since 1966, that the monarch appeared on the country’s coins and the $5 note - so when will King Charles III have his head printed on them?</p> <p dir="ltr">“The monarch has traditionally appeared on the lowest denomination of Australian banknotes and it is our expectation that this would continue should there be a change in the monarch,” a RBA spokesperson said.</p> <p dir="ltr">“All Australian banknotes issued from 1913 retain their legal tender status.”</p> <p dir="ltr">When the new coins and $5 notes are ready, there’ll be one significant change in that King Charles III will face the left. </p> <p dir="ltr">The Royal Australian Mint could hold another competition to help decide on the new design but will also be guided by Buckingham Palace's protocols.</p> <p dir="ltr"><em>Images: Reserve Bank of Australia/Royal Mint</em></p>

Money & Banking

Placeholder Content Image

Incredible teenage boy cracks coded coin in hours, but he isn’t the first

<p dir="ltr">Within hours of its release to the general public, a 14-year-old boy had cracked the codes hidden on <a href="https://oversixty.com.au/finance/money-banking/coins-covered-in-coded-clues-will-test-your-spy-skills" target="_blank" rel="noopener">a coin released by an Australian intelligence agency</a> - but some had solved them days earlier, due to an unusual legal rule.</p> <p dir="ltr">A 50-cent coin celebrating the 75th anniversary of the Australian Signals Directorate (ASD) was released last Thursday containing four levels of codes with hidden messages.</p> <p dir="ltr">But, the puzzles were already being discussed online ten days earlier, with some codes already being solved by August 20.</p> <p dir="ltr">This was due to requirements on the Australian Government to include the characters featured on the coin in legislation, available online, before the coin was made available to purchase on September 1.</p> <p dir="ltr">As well as a celebration of the agency’s history, it’s hoped the coin will act as a kind of recruitment drive and attempt to raise the profile of the ASD among the general public, with the agency planning to recruit another 1,900 people over the next decade as part of a $9.9 billion expansion. </p> <p dir="ltr">Dr Richard Bean, a research fellow at the University of Queensland who solved the coin’s puzzles within two hours of getting his hands on it, said the move was about attracting those interested in a career with the ASD.</p> <p dir="ltr">"The kind of people who would sit down and solve this kind of code on the coin, they're the kind of people the ASD wants to attract — innovative thinkers to solve difficult problems in cryptography in both an offensive and defensive sense," Dr Bean said.</p> <p dir="ltr">"So solving other nation's codes and protecting Australian government communications security.</p> <p dir="ltr">"It's about attracting the right candidates and putting the ASD in their mind, instead of having to go out in traditional recruitment channels."</p> <p dir="ltr">But let’s go back to our teenage whiz kid.</p> <p dir="ltr">Though the Tasmanian boy’s identity hasn’t been revealed, it’s clear he has talent and instinct according to Distinguished Professor Willy Susilo, who also directs the Institute of Cybersecurity and Cryptology at the University of Wollongong.</p> <p dir="ltr">“[What] is very important is actually not about whether you can crack the code or not, [what] is important is the thinking behind it, how to solve this kind of puzzle,” he told the <em><a href="https://www.abc.net.au/news/2022-09-05/how-to-solve-spy-australian-signals-directorate-50-cent-coin/101405266" target="_blank" rel="noopener">ABC</a></em>.</p> <p dir="ltr">“To me, I think to get a person who, especially in this case, is 14 years old, can crack the code within just one or two hours is actually incredible in my opinion.</p> <p dir="ltr">"That really is the kind of skill needed in the Australian Signals Directorate." </p> <p><span id="docs-internal-guid-3c09a93f-7fff-0213-b8af-6fb92c5ceeed"></span></p> <p dir="ltr"><em>Image: ASD</em></p>

Money & Banking

Placeholder Content Image

Coins covered in coded clues will test your spy skills

<p dir="ltr">A new, limited edition 50-cent coin covered in coded messages is more than just a mental puzzle for coin collectors - its creators hope it can help identify some of Australia’s next foreign intelligence recruits.</p> <p dir="ltr">The commemorative coin was released on Thursday to mark the 75th anniversary of the Australian Signals Directorate (ASD), the country’s foreign intelligence cybersecurity agency.</p> <p dir="ltr">Though they won’t be available for circulation, 50,00 of the unique coins will be available to purchase from the Royal Australian Mint.</p> <p><span id="docs-internal-guid-91d5a6fc-7fff-bb93-5d60-cff3220f11f5"></span></p> <p dir="ltr">Each coin features four levels of coded messages that become more difficult to solve - though clues can be found on either side of the coin.</p> <p><iframe style="border: none; overflow: hidden;" src="https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2FRoyalAustralianMint%2Fposts%2Fpfbid0NUz7VxNyNToHFmQzbPFTNi2rYo4Vvngztz8nmQssosevJzo2ExGpxdp5fumXeXcol&amp;show_text=false&amp;width=500" width="500" height="498" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen"></iframe></p> <p dir="ltr">ASD Director General Rachel Noble said the coin celebrated the work of the members of the agency and the evolution of code-breaking over the past seven-and-a-half decades.</p> <p dir="ltr">"Back in World War II, our people, military and civilian, and mostly women … used pencil and paper to decode Japanese military codes, and then re-encode them to send them out to the allies to let them know where Japanese war fighters were," she said.</p> <p dir="ltr">"We have used that part of our history in different layers, which represent the progress of encryption and technology through our 75 years."</p> <p dir="ltr">The puzzling currency also serves another purpose, with Ms Noble adding that those who can crack the codes could be "pretty well-placed" to work at the ASD.</p> <p dir="ltr">"We thought this was a really fun way to engage people in code-breaking with the hope that, if they make it through all four levels of coding on the coin, maybe they'll apply for a job at the Australian Signals Directorate," she said.</p> <p dir="ltr">Royal Mint chief executive Leugh Gordon said the coin was created with the help of cryptography experts, but that even with their help it still proved a challenge to get the codes onto the coin.</p> <p dir="ltr">"While the 50-cent piece is Australia's biggest coin, it still doesn't have a lot of surface area," he said.</p> <p dir="ltr">"Ensuring people could see the code to decrypt it was one of the challenges our people were able to solve with ASD, to create a unique and special product."</p> <p dir="ltr">It's not the first time secretive workplaces have used unusual recruiting drives, with the Australian Secret Intelligence Service releasing an online test targeting Australia's next generation of spies in 2017, while ASIO (Australian Security Intelligence Organisation) took to Instagram last year to show the secrecy surrounding the lives of modern spies.</p> <p dir="ltr">Ms Noble said those who crack the code won't get their hands on any top secret information, but instead will find "some wonderful, uplifting messages".</p> <p dir="ltr">"Like the early code breakers in ASD, you can get through some of the layers with but a pencil and paper but, right towards the end, you may need a computer to solve the last level," she said.</p> <p dir="ltr"><span id="docs-internal-guid-73e50ae0-7fff-e141-a245-39a4ce9b8192"></span></p> <p dir="ltr"><em>Image: Royal Australian Mint</em></p>

Money & Banking

Placeholder Content Image

Couple flip coin to see which surname they will take

<p dir="ltr">A very fair-minded couple decided that they would flip a coin in the middle of their wedding ceremony in order to see whose surname they would take on.</p> <p dir="ltr">Pearl Lee, 28, and Collin Hansen, 25, got married in March and it was only a few months prior to the wedding that they realised they were both the last to carry their respective family’s surnames. </p> <p dir="ltr">The pair didn’t want to argue about the decision, and so instead they decided to leave it to fate on the day of the wedding.</p> <p dir="ltr">Come the wedding ceremony, the celebrant duly flipped a coin …. hailing Collin as the very lucky winner, and officially making them Mr and Mrs Hansen. </p> <p dir="ltr">A video was shared to <a href="https://www.tiktok.com/@diaryofasolotraveler/video/7079776982254226734" target="_blank" rel="noopener">TikTok</a> showing the coin flip, with many sharing their own experiences when it came to taking a surname. </p> <p dir="ltr">“I know a couple whose families had a paintball match to decide! Winning side determined the last name,” someone wrote.</p> <p dir="ltr">“I wanted a random name but they said no. I’m Fischer, he’s Peeples. We got the green light to combine and change our names to fishpeople though,” another revealed.</p> <p dir="ltr">“My maiden name is Back, my husband is Stolhand, I wanted us to be the backhands. He said no,” another shared.</p> <p dir="ltr"><em>Images: TikTok</em></p>

Relationships

Placeholder Content Image

This $1 coin could get you thousands of dollars in return

<p>Australians could be hanging on to a $1 that could be worth thousands of dollars, and not even know it!</p> <p>A mother in Melbourne has posted on the Facebook group <a rel="noopener" href="https://www.facebook.com/melbournewithkidz/posts/3364153870285984" target="_blank" title="">Melbourne with Kidz </a>that she found a “mule” dollar coin from the year 2000.</p> <p>These coins were produced due to a technical error by the <a rel="noopener" href="https://www.facebook.com/RoyalAustralianMint/" target="_blank" title="www.facebook.com">Australian Mint </a>in Canberra twenty years ago.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7838803/sam-armytage-3.jpg" alt="" data-udi="umb://media/8d47c8539c5a4a4793cb1713be19d0e3" /></p> <p>Mule dollars are slightly thicker than a regular $1 coin in appearance and also have a double rum around the Queen’s head.</p> <p>“It’s a small number of the year 2000 $1 coins that had been minted using the incorrect obverse die (heads side) and released into circulation by mistake and only discovered a year or two later,” the mum wrote after doing some research.</p> <p>“With just a 1.4 millimetre difference in diameter between the 10 cent and $1 coin, you can clearly see a double rim circle going around the edges of the coin.”</p> <p>The<span> </span>Daily Mail<span> </span>reported that there are just 6000 coins that were minted incorrectly.</p> <p><img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7838804/sam-armytage-2.jpg" alt="" data-udi="umb://media/3b10ff7bf936450f8ce57b5b74502c87" /></p> <p>A few of these coins have been placed on eBay at a value ranging from $700 to $5000.</p> <p>“Check your change and empty out the kids piggy bank! You could be sitting on a winner,” the mum said.</p>

Money & Banking

Placeholder Content Image

Shopper slams ALDI over coin payment ‘policy’

<p>A shopper has claimed ALDI refused to let her pay for her groceries in coins.</p> <p>The woman said she was shopping in a South Wentworthville store in Sydney’s west on June 3 when her payment of $9.25 in gold and silver coins was rejected.</p> <p>“I was abruptly and rudely scolded when paying $9.25 bill,” the woman wrote on a post in the ALDI Mums Facebook group.</p> <p>“The cashier told me that in future to pay in cash [notes] as ALDI policy can only accept $5 worth of coins. Mind you I had $7 worth of gold coins.”</p> <p>The woman went on to lodge three formal complaints on the German supermarket’s website. A spokesperson later contacted her, saying that the rejection was based on the Currency Act 1965.</p> <p>The <a href="https://www.oversixty.com.au/finance/retirement-income/3-ways-to-make-the-most-of-your-spare-change-1">law</a> prohibits the use of silver coins over $5 and gold coins over 10 times their face value, which equates to $10 worth of $1 coins and $20 worth of $2 coins. This means the woman’s payment – consisting of $7 worth of gold coins and $2.25 worth of silver coins – was legal and should have been accepted.</p> <p>An ALDI spokesperson told <em><a href="https://au.news.yahoo.com/aldi-shoppers-coin-payment-warning-sparks-fierce-debate-045519575.html">Yahoo News Australia</a> </em>that the supermarket had apologised to the customer.</p> <p>“Limiting the payment amount of coins is not an ALDI policy,” the spokesperson said.</p>

Money & Banking

Our Partners

Over 60

© Copyright 2024 OverSixty.All Rights Reserved.