All About Australian Bank Notes

IIIT ALL ABOUT AUSTRALIAN BANKNOTES BANKNOTES ON ISSUE Value: $24,288 mill 500 450 Australian banknotes in circulation as of End June 2011 400 350 300 250 Value: $21,234 mill 200 Value: $731million Value: $2.796 mill 150 Value: $1,010 mill 100 50 MILL O LIFECYCLE OF PLASTIC NOTES 01 Aussie Plastic Innovation The polymer in Australian banknotes was developed at the CSIRO to improve the longevity of money in circulation. 02 Notes Enter Circulation The polymer notes are put into circulation where they last 4 to 5 times as long as the old paper notes would last. 04 How much is your compost bin worth? Old notes are then taken out of circulation, shredded and then turned into useful garden items like compost bins and flower pots. 03 Australians Pay With Cash The notes are then used in around 64% of everyday household transactions, though card transactions are catching up. INTERESTING FACTS 01 Australia made the first plastic bank note Yep, we are devilishly smart us Australians. Facing huge issues with the life span of paper money and the ability to counterfeit it – Australia invented the polymer note to improve the security and longevity.? 02 Our money might have been called the "Royal" instead of the "Dollar" SALE 50 Royals Sir Robert Menzies (the acting prime minister in 1965) wanted the new Australian currency (switching from pounds) to be called the 'royal'. He was rather into the royal family I hear.? 03 Where did our 1 and 2 cent coins go after 1992? Most of the bronze from the coins was melted down to make bronze medals for the 2000 Olympics in Sydney!? BANKNOTES PRODUCTION 300 Millions of Banknotes 275 250 The sum total of notes created in 2007, if piled into one stack, would be 3.6 times taller than Mount Everest 225 200 175 150 125 100 75 50 25 MILL O 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 1- http://www.rba.g 2- http://www.savingsauide ceates/resources/stafistics.html 3- http://www.rba.gov.au/banknotes/production/polymer.html 4- http://www.questacon.edu.au/indepth/clever/plastic_banknotes.html 5. http://www.bankwest.com.au/mediocentre/financialindicatorseries/bankwestcashreportjanuary-2012-1292485880278 u/5unknownfactsaboutmoneyin-australia/