Update: Triangular 5 Dollar Parliament House Coin Released - in May 2013 the Royal Australian Mint released a $5 triangular silver proof coin celebrating the 25th anniversary of the opening of Parliament House. You can read more about it here.
In general Australian $5 coins are valued at just that, five dollars. Yes, they are really only worth their five dollar face value. Uncirculated 5 dollar coins such as the 1988 Parliament House issue, the 1990 Simpson and his Donkey $5 or the 1992 Year of Space $5 struggle to even get $5 in the secondary market so it's often better to just take them to the bank and cash them in for $5. Even coin dealers don't want to buy them!!
The five dollar coin has never been popular although just over 3 million were issued via the Commonwealth Bank in 1988 where it was quite a novelty to stop in and buy a $5 coin for $5. This was the year Australians were excited over the newest denomination coin, the $2. It was thought a $5 coin for circulation may well have been on the cards. These coins haven't been a great investment though as today you're lucky that they are legal tender so you will get your $5 back.
Most uncirculated issues have been minted in aluminium, zinc and bronze. The 1994 Vote for Women Centenary, Womens Enfranchisement bi-metal coin has been voted one of the ugliest designs in decimal history. Proof issues (often in silver) have faired a little better and the odd issue a real investment. But you never can tell which issue is going to be the money earner and which is the dud, but in the case of 5 dollar coins it's pretty safe to assume that they'll prove to be a poor investment.
Posted by harrisk at February 28, 2012 12:42 PM
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