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The end is nigh for old coins

Reserve Bank Email Service

Date 24 October 2006 NEWS RELEASE
Time 9.00am


The end is nigh for old coins


In one week - 1 November - the old 5, 10, 20 and 50c cent coins will no longer be legal tender, which means retailers need no longer accept them as payment for goods.

The Reserve Bank is encouraging people to dig out their old 50, 20, 10 and 5 cent coins and either use, bank or donate them.

So far, just over 280 million coins have been returned, but there are more out there, said Reserve Bank Currency Manager, Brian Lang. "Since 1967 the Reserve Bank has issued more than a billion of the old `silver' coins."

"So if you don't want to be stuck with loads of old coin - there's never been a better time to empty your coin jars, sweep the car glove box and rummage behind the couch cushions", Mr Lang concluded.


ENDS

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