What will happen to our currency when the Queen is no longer head of state? (place)
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I know it's speculation, but if we keep the monarchy I wonder what will happen to all the coins and the 5 dollar when the Queen passes away or can't continue for whatever reason. Would they actually replace them all?
I assume if we become a Republic her image will be effaced, but maybe not? I actually think all existing currency in circulation should be kept in addition to the new coins.etc.
I know it's speculation, but if we keep the monarchy I wonder what will happen to all the coins and the 5 dollar when the Queen passes away or can't continue for whatever reason. Would they actually replace them all?
I assume if we become a Republic her image will be effaced, but maybe not? I actually think all existing currency in circulation should be kept in addition to the new coins.etc.
Not sure, what happened to our old imperial system- ie pennies etc when the head Monarchist changed?
This happened a number of times- you'd need to back into the history books or ask a coin collector.
I assume they just changed all new coins with the new Head of State.
The old coins remained in circulation though, for the term of their natural life.
It would be too expensive and logistically impossible to withdraw them all from circulation.
If and when Australia does become a Republic, then this problem would be much more frequent.
I personally think we would be better off with different themes- eg former Australians of the Year etc, on the back of our coins.
Yeah I'd guess upwards of 30 years for Australian coins. They'd only get taken out of circulation if they were too defaced it was hard to see them. Or else they could last centuries, like Roman coins, unlike paper or even polymer notes. Either way, if you look at coins dated you'll find coins from the 60s and 70s are still common.
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