RAM Reports Increased Demand for Circulating Coinage

During the year that the Royal Australian Mint (RAM) celebrated its 60th anniversary, it issued over 131 million circulating coins with a face-value of A$75.37 million, nearly three times the 47.7 million coins issued the previous year.

In its annual report, RAM detailed a returned seigniorage of A$26.13 million against a target of A$9 million for circulating coinage. The increased sales reflect increased ordering, with the Mint reporting a rise in circulating coin demand from the major commercial banks.

The Mint also produced 47.8 million circulating coins for five other nations in the Asia Pacific – including two denominations for Papua New Guinea, five denominations for Timor Leste, one denomination for the Solomon Islands, four denominations for Vanuatu, and three denominations for Tonga.