8 ms·

Once they correct the mistake, those notes will be worth a fortune to collectors in a couple decades. Collectors love errors. And since the history is well docu

Once they correct the mistake, those notes will be worth a fortune to collectors in a couple decades. Collectors love errors. And since the history is well documented online you get a bonus of free provenance.

dmd 7y ago
Not with 480 million of them circulated, it won't be.
- tewarbit 7y ago
  Perhaps if Australian bills have a similar lifespan to US currency. https://www.forbes.com/sites/niallmccarthy/2014/09/12/how-many-years-do-us-banknotes-stay-in-circulation-infographic/#3e83e7afcf54 https://www.forbes.com/sites/niallmccarthy/2014/09/12/how-ma...
  - jen729w 7y ago
    Our wonderful polymer notes last much, much longer than paper/linen money. Lots of detailed lifespan graphs here: https://www.rba.gov.au/publications/bulletin/2015/sep/7.html https://www.rba.gov.au/publications/bulletin/2015/sep/7.html
    - fooblitzky 7y ago
      So the banknote lasts about 20 years, then the plastic takes another 1000 or so to break down?
      - cbo100 7y ago
        Except, as you can see from the graphs in parent link there's a lot less of them produced in the first place due to lasting longer. And then once they are EOL, they are recycled. https://banknotes.rba.gov.au/production-and-distribution/recycling/ https://banknotes.rba.gov.au/production-and-distribution/rec...
pvg 7y ago
They don't plan to recall them. Collectors love errors mainly because they're rare. There's 480 million of these and they'll never be worth much more than 50 AUD.
- duck 7y ago
  With inflation, they'll be worth less than 50 AUD. :)
  - iiv 7y ago
    Even with inflation, they'll be worth 50 AUD. But you won't be able to buy as much with it.
  - magashna 7y ago
    50 AUD is always 50 AUD, but it's not necessarily worth the same amount of burgers
    - java-man 7y ago
      unless there is a denomination...
      - shoshino 7y ago
        I think you mean: https://en.wikipedia.org/wiki/Debasement https://en.wikipedia.org/wiki/Debasement
        java-man 7y ago
        Thank you for noticing. What I actually meant is redenomination: https://en.wikipedia.org/wiki/Redenomination https://en.wikipedia.org/wiki/Redenomination
    - rzzzt 7y ago
      We should use burgers as currency, then.
akozak 7y ago
Interesting that a typo could actually create value.
- paulddraper 7y ago
  As with most collectibles, it's value is its distinctive. Rare but otherwise correct coins or bills likewise carry a markup -- wheat pennies, buffalo nickels, etc. Mistakes are usually scarce enough that their rarity is exceptional. Were currency errors commonplace, they would not be seen as valuable. In 2007, the U.S. accidentally minted some Presidential dollars that lacked "In God we trust" [1] [2]. In good condition, one is worth a few hundred dollars. [1] https://www.cbsnews.com/news/godless-dollar-coins-slip-through-mint/ https://www.cbsnews.com/news/godless-dollar-coins-slip-throu... [2] https://www.factcheck.org/2009/05/godless-dollars/ https://www.factcheck.org/2009/05/godless-dollars/
baddox 7y ago
Aren't the valuable collectibles generally small batches with messed up production, like a skipped layer of printing or a misaligned coin stamping? I would be surprised if a graphic design mistake printed without issue on millions of dollars of currency would end up being very valuable.
pmiller2 7y ago
Nope, they won't be a fortune. They'll be regarded as a minor variety and get their own catalog entries, but nobody will care very much.

dmd 7y ago

Not with 480 million of them circulated, it won't be.

tewarbit 7y ago
Perhaps if Australian bills have a similar lifespan to US currency. https://www.forbes.com/sites/niallmccarthy/2014/09/12/how-many-years-do-us-banknotes-stay-in-circulation-infographic/#3e83e7afcf54 https://www.forbes.com/sites/niallmccarthy/2014/09/12/how-ma...
- jen729w 7y ago
  Our wonderful polymer notes last much, much longer than paper/linen money. Lots of detailed lifespan graphs here: https://www.rba.gov.au/publications/bulletin/2015/sep/7.html https://www.rba.gov.au/publications/bulletin/2015/sep/7.html
  - fooblitzky 7y ago
    So the banknote lasts about 20 years, then the plastic takes another 1000 or so to break down?
    - cbo100 7y ago
      Except, as you can see from the graphs in parent link there's a lot less of them produced in the first place due to lasting longer. And then once they are EOL, they are recycled. https://banknotes.rba.gov.au/production-and-distribution/recycling/ https://banknotes.rba.gov.au/production-and-distribution/rec...

pvg 7y ago

They don't plan to recall them. Collectors love errors mainly because they're rare. There's 480 million of these and they'll never be worth much more than 50 AUD.

duck 7y ago
With inflation, they'll be worth less than 50 AUD. :)
- iiv 7y ago
  Even with inflation, they'll be worth 50 AUD. But you won't be able to buy as much with it.
- magashna 7y ago
  50 AUD is always 50 AUD, but it's not necessarily worth the same amount of burgers
  - java-man 7y ago
    unless there is a denomination...
    - shoshino 7y ago
      I think you mean: https://en.wikipedia.org/wiki/Debasement https://en.wikipedia.org/wiki/Debasement
      - java-man 7y ago
        Thank you for noticing. What I actually meant is redenomination: https://en.wikipedia.org/wiki/Redenomination https://en.wikipedia.org/wiki/Redenomination
  - rzzzt 7y ago
    We should use burgers as currency, then.

akozak 7y ago

Interesting that a typo could actually create value.

paulddraper 7y ago
As with most collectibles, it's value is its distinctive. Rare but otherwise correct coins or bills likewise carry a markup -- wheat pennies, buffalo nickels, etc. Mistakes are usually scarce enough that their rarity is exceptional. Were currency errors commonplace, they would not be seen as valuable. In 2007, the U.S. accidentally minted some Presidential dollars that lacked "In God we trust" [1] [2]. In good condition, one is worth a few hundred dollars. [1] https://www.cbsnews.com/news/godless-dollar-coins-slip-through-mint/ https://www.cbsnews.com/news/godless-dollar-coins-slip-throu... [2] https://www.factcheck.org/2009/05/godless-dollars/ https://www.factcheck.org/2009/05/godless-dollars/

baddox 7y ago

Aren't the valuable collectibles generally small batches with messed up production, like a skipped layer of printing or a misaligned coin stamping? I would be surprised if a graphic design mistake printed without issue on millions of dollars of currency would end up being very valuable.

pmiller2 7y ago

Nope, they won't be a fortune. They'll be regarded as a minor variety and get their own catalog entries, but nobody will care very much.