Author Topic: Solomon Islands: New Series of Coins from July 2012  (Read 12444 times)

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Offline Figleaf

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #15 on: May 16, 2012, 11:31:46 AM »
I presume he studied law, not economics.

If the cost of making the coin is lower than its face value and the coins are issued at face value, every coin issued turns a little profit. The more coins you can issue, the higher the profit. If a dealer from New Zealand takes away half the stock of coins, don't worry, be happy and order more. Yes, that costs, but it costs less than what people pay for them.

Here's the hard part. The manufacturing cost of each coin goes down when you can strike more. That's because the cost consist of a variable part (the price you pay the mint) and a fixed part (interminable meetings of officials, making the designs and the master dies, implementing slight changes, education and publicity etc.). The variable part of the cost assigned to each coin is virtually the same, whether you order 100 000 coins or 1 million coins. However, the fixed part assigned to each coin is only one tenth of the cost of a mintage of 100 000 when you strike 1 million coins.

He therefore should have said the opposite: do your patriotic duty and make sure these coins are lost or sold to foreigners as fast as possible. This will lower your taxes but give us the trouble of ordering more ... ahhh ... the trouble of ordering more ... hmmm ... :)

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Enlil

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #16 on: May 18, 2012, 06:27:06 AM »
Well thats a pitty, because many of them will get lost, and people will look after it if they are looked after.

Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #17 on: June 05, 2012, 04:22:55 PM »
The designs are now out. 8)



Source: World Coin News / Royal Australian Mint

Aditya
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Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #18 on: June 05, 2012, 04:45:06 PM »
So, the dollar is no longer seven-sided.  We seem to be saying goodbye to polygonal coins these days. Is it because coins are becoming smaller and maybe less suited to the polygonal format? It is certainly NOT because of the requirements of vending machines, which have long been sophisticated enough to recognise polygonal coins.
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Offline Figleaf

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #19 on: June 05, 2012, 08:31:54 PM »
Even if vending machines can handle polygonal coins, one that can't is simpler, therefore cheaper. There are other machines to take into account also, such as die cutters, coin presses and coin counters.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #20 on: June 08, 2012, 11:07:49 PM »
I've just been looking at the diameters of the special silver collector version of this set.

10c -  Old: 23.6mm ; New 19mm
20c - Old 28.5mm; New 21mm
50c - Old 29.5mm; New 24.2mm
$1  -  Old 30mm; New 21.5mm

Interesting how close the 20c and dollar are in diameter. What we don't know yet is what the relative thicknesses of these coins are, and what their metal constituents are. The New Zealand 10 cents is now in copper-plated steel. Will the Solomon Islands' counterpart follow suit? The NZ 20c is now a "Spanish flower" in shape. What will the Solomon Islands' look like? Lots still to learn yet, though decent images will probably become available 2 or 3 months down the line.
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Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #21 on: July 06, 2012, 09:56:11 AM »
Solomon Islanders decide on new-look currency

Updated 6 July 2012, 17:00 AEST

Solomon Islands has new coins, after citizens were asked to decide whether they wanted a fresh look for their dollars and cents.

In a survey, Solomon Islanders said yes, and local artists were given the task of redesigning the currency.

The Central Bank of Solomon Islands is distributing the coins and says people can exchange old coins for the new ones.

Over time, Ross MacDiarmid, head of Australia's mint, told Radio Australia's Pacific Beat, all the old coinage will be taken in and melted down.

A "people's choice" survey determined that people wanted the new coins, before artists got to work, he said.

The Central Bank worked closely with the Royal Australian Mint, which produced the new range at its factory in Canberra.

As with Australia's coins, the gold-look one-dollar and two-dollar coins are made of cupro-nickel, and the "silver" coins of plated steel.

Queen Elizabeth, as Solomons' head of state, features on the obverse side of all coins.

Other designs in the seven-coin set are culturally significant for the Pacific nation. 

Some of the designs were seen on the former currency. They include, on the new 10-cent coin, the sea spirit, Ngorieru, with another sea spirit, Nusu Nusu, on the dollar coin. The Malaita pendant is on the 20 cents.

Mr MacDiarmid said: "We were delighted to be able to take the designs and convert them into these magnificent looking coins."



Source: Radio Australia
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Figleaf

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #22 on: July 06, 2012, 03:25:41 PM »
As with Australia's coins, the gold-look one-dollar and two-dollar coins are made of cupro-nickel

Which probably means that the one and two dollar are, like their Australian counterpart, made of an amalgam of 92% copper, 6% aluminium and 2% nickel.

Interesting how close the 20c and dollar are in diameter.

If the technical specifications are the same as those of Australian coins, which seems likely, the dollar would be 25 mm, the 20 cents 28.65 mm. Since the blind can feel a difference of down to 2.5 mm, the size difference is sufficient. The difference in sizebetween the two dollars (20.5 mm) and the 5 cents (19.41 mm) is more problematic, but the difference in weight (6.6 gr versus 2.83 gr) will probably help. It remains possible to confuse the blind by giving them an old two cents (21.59 mm, 5.2 gr) for a two dollar coin (20.5 mm, 6.6 gr).

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline <k>

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #23 on: July 06, 2012, 04:51:02 PM »
If the technical specifications are the same as those of Australian coins, which seems likely, the dollar would be 25 mm, the 20 cents 28.65 mm.

Peter

The new dimensions are actually far closer to those of the New Zealand coins. Australia has never reduced the size of its coins, but New Zealand did so in 2006, and Fiji and Samoa have followed suit in recent years. Australia is rich in metal, so there is no real economic need for it to reduce the size of its coins.

As for new designs, I do not see any. The old 2 cents design was simply transferred to the new 50 cents. The 2 dollar design was adapted from an old collector 5 dollars design.
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Offline Bimat

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #24 on: November 27, 2012, 03:00:00 PM »
The new coins are now out. Time to check e-bay regularly. :D

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline $$

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Re: Solomon Islands: New Series of Coins from July 2012
« Reply #25 on: November 28, 2012, 05:16:55 AM »
Solomon Islands 2012 - New set in circulation

The new Solomon Islands pieces are finally released for circulation and can be seen for sale in different portals

(news and image from Pabitra Saha)
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