One Cent | Royal Australian Mint (2024)

FAQs

What is 1 cent worth in Australia? ›

Yes, 1c and 2c pieces are still Australian legal tender, but they are not considered as 'currency' (or, money that is officially released for circulation). This means that you can take your old 1c and 2c coins to the bank and exchange them for currency totalling the same face value.

The 2c was only minted for coin sets in the following years: 1986, 1987, 1990, 1991, and finally, 2006. The decision to remove it was confirmed in the Treasurer's budget speech of 21 August 1990. The removal was due to inflation reducing its value, and the high cost of bronze.

Physical Description

An round bronze coin (17.5 mm diameter plain edged) featuring on the obverse a crowned head of Elizabeth II facing right, around, ELIZABETH II AUSTRALIA 1982. The reverse features a feather-tail glider; the denomination numeral 1 is left of the head and the artist's initials SD below it's body.

1. 1856 Flying Eagle Cent. The 1856 Flying Eagle Cent is one of the most rare and valuable pennies and is well worth seeking out. Only an estimated 1000 were struck by the US Mint as an unauthorized pattern coin in 1856, though the exact amount is unknown.

The 1930 penny is one of the rarest Australian coins, due to a very small number being minted, and holds the record as the most valuable copper penny in the world. It is highly sought after by coin collectors, and a 1930 penny in very fine condition can be worth A$45,000 or more.

Accepted denominations: 1 cent, 5 cent, 10 cent, 20 cent, 50 cent & 1 dollar (Singapore Coins - Floral Series & National Icon/Landmark Series).

It applies only to cash payments and does not apply to bills paid electronically, for example, by debit card, credit card or by store card. Rounding aims to reduce the need for 1 and 2 cent coins which cost more to produce than they are worth. However, 1 and 2 cent coins will continue to be legal tender.

Currency and legal tender in Australia is governed by two primary pieces of legislation: the Currency Act 1965 (Cth); and the Reserve Bank Act 1959 (Cth). Importantly, there is no law against a business refusing to accept cash for goods and services.

1c and 2c coins will continue to be legal tender: they can still be used to purchase goods and can be deposited with financial institutions in the normal manner." Both coins were withdrawn from circulation commencing in February 1992.

When did Australia stop using 1 cent? ›

Australia changed from the imperial currency system in 1966 to adopt the metric system. This was when dollar and cents where adopted over the imperial, penny, sixpence, shilling and pound. The penny was replaced with a one cent coin. The Australian one cent and two cent coins were withdrawn from circulation in 1992.

Mint produced over 20 million of these coins. There were two distinct varieties produced, however, the large motto and the small motto. The small motto is the less common of the two types, and one of these coins can potentially fetch $200 or more depending on its condition.

Lincoln cents were last issued in bronze in 1981. In 1982, the composition of the penny changed from 95% copper with 5% tin and zinc to copper-plated zinc because of the rising price of copper. The 97.5% zinc alloy has been issued since 1982.

This weight discrepancy is due to a rare occurrence where a penny was mistakenly struck on a mostly copper planchet instead of the usual zinc-coated copper. According to Couch, a penny of this kind was sold at auction "for over $10,000," showcasing the incredible value that can come from this seemingly ordinary coin.

Of the three the 1982 no mint mark is slightly scarcer than the other two. But the 1982 D 3.11 gm SMALL DATE is extremely rare. So far only two specimens have been found, and have sold at auction for close to $35,000.

The base units of Australia's decimal currency will be one dollar (written $1). This will be made up of 100 (or ten times ten) cents.

The Australian dollar is divided into 100 cents, and its coins are issued in six denominations: 5c, 10c, 20c, 50c, $1 and $2. Australia has a mixed economy, which relies on the service industry contributing to almost 63 percent of the total gross domestic product (GDP).

When sorting through a lot of loose change, the 1972 five cent coin is arguably the most important Australian five cent to look for. Due to the low mintage, the 1972 five cent coin is very sought after (even in used condition) and can be worth over $100 in mint condition.

The cent, the United States of America one-cent coin (symbol: ¢), often called the "penny", is a unit of currency equaling one-hundredth of a United States of America dollar.