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from the With-great-powr-comes-great-responsibilty dept.
Submitted via IRC for Runaway1956_
Red faces after discovery $2.3bn worth of currency has a misprint of the word responsibility in banknote's 'micro-text'
46 million of Australia's new $50 notes have been printed with a typo, the Reserve Bank has confirmed.
The "new and improved" $50 banknote was rolled out in October last year, with a host of new technologies designed to improve accessibility and prevent counterfeiting.
But the yellow note also contains a typo that misspells the word "responsibility".
The note features the Indigenous writer and inventor David Unaipon on one side, and Edith Cowan, Australia's first female member of parliament, on the other – as it has since 1995.
The RBA has printed "micro-text" on the note with excerpts of Unaipon's book, Legendary Tales of the Australian Aborigines, and Cowan's first speech to parliament.
The small error occurred on Cowan's side, in the text of her speech.
"It is a great responsibilty [sic] to be the only woman here, and I want to emphasise the necessity which exists for other women being here," it says.
Also at Australian Broadcasting Corporation, the BBC and The New York Times.
(Score: 2) by bzipitidoo on Friday May 10 2019, @10:27PM (2 children)
Most definitely. The government loves coin collectors. With one proviso: the face value of the money needs to be more than the value of the materials. The moment that's not true, people start grabbing all the undervalued coinage to convert them to their real market value. That's why there are no longer any silver or gold coins in general circulation. I am not sure why so many copper cents are still in circulation, now that they are worth a bit more than 1 cent each. Must not be enough more valuable to warrant the cost of sorting through mountains of pennies. Hyperinflation can also spoil things.
You didn't think that, starting in the late 1990s, the US rolled out all those states quarters, and then the national parks quarters, and the commemorative quarters, and the nickels and other changes to coins just for fun, did you? Also, the US really wants to dump the cent. Gotten hard to manufacture cents for less than 1 cent each.
The term for this is seigniorage.
(Score: 0) by Anonymous Coward on Saturday May 11 2019, @06:45AM
In most countries it is illegal to destroy coins that way.
Nobody does it to gold coins because the gold value is almost always worth less than or equal the coins' value to a collector.
Silver is in the middle, sometimes it is technically worth doing, but even those coins mostly retail for more than the silver value. Collecting silver coins out of circulating currency is time consuming for a small return.
To make a profit on melting copper coins you would have to collect so many you would almost certainly be caught.
(Score: 2) by realDonaldTrump on Sunday May 12 2019, @11:07PM
Our Pennies are phoney as hell. The outside is a beautiful Orange. Looks great, but don't be fooled. It's just a thin orange "skin." And the inside is something else. Something that, I'm told is very very cheap. Fake money!!!!