What coins are legal tender in australia?

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Bart Jenkins asked a question: What coins are legal tender in australia?
Asked By: Bart Jenkins
Date created: Tue, Sep 7, 2021 5:50 PM
Date updated: Wed, May 18, 2022 1:34 PM

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Top best answers to the question «What coins are legal tender in australia»

According to the Currency Act 1965 coins are only legal tender for limited payment amounts. You can use up to $5 worth of coins in any combination of 5c, 10c, 20c and 50c coins and up to 10 times the face value of $1 or $2 coins.

FAQ

Those who are looking for an answer to the question «What coins are legal tender in australia?» often ask the following questions:

⭐ Are 1c coins legal tender 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.

⭐ What constitutes legal tender in australia?

A payment of coins is a legal tender throughout Australia if it is made in Australian coins, but this is subject to some restrictions about how much can be paid in coin… not exceeding $5 if any combination of 5c, 10c, 20c and 50c coins are offered; and.

⭐ Are cheques legal tender in australia?

Introduction. Cheques were the most important non-cash payment method in Australia a few decades ago… Today, cheques represent a very narrow segment of the payment system and are no longer used by the majority of the general public.

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