1966 Silver - Round 50c Coins (80% Silver) - Tube of 28
Full tube of 80% Silver Round 1966 Fifty cents
Bulk lot of 28x 1966 Round Silver 50c pieces in Tube
The 1966 Round 50-cent coin holds a unique place in Australian history as the country's first and only circulating decimal coin made of silver. On 14 February 1966, Australia replaced the British-style pounds, shillings, and pence with the decimal system of dollars and cents. The round 50-cent piece was introduced as the highest-denomination coin to showcase the nation's new decimal currency. The coins were struck by The Royal Australian Mint, which opened in 1965 specifically to prepare the nation for the massive decimal currency changeover. In 1965, the market price of silver was effectively capped and traded at an annual average of US$1.29 per troy ounce.
Minted with 80% silver, the coin fell victim to its own high metal content when global silver prices skyrocketed causing the intrinsic melt value of the coin to exceed its 50-cent face value. The public quickly began hoarding the pieces, prompting the Royal Australian Mint to halt production in 1967 after striking 36.5 million coins. To solve the hoarding crisis and prevent confusion with the round 20-cent piece, the government replaced it in 1969 with the 12-sided copper-nickel version used today.
While modern coin tubes often hold 20 or 25 coins, 1966 round 50c pieces are frequently traded in a "Standard Roll" of 28 because that amount perfectly equates to $14 face value, which was the original paper-wrapped bank roll amount.
Did You Know? 3 round 50c coins equal 1 troy ounce of pure silver!
- Weight: Total weight of 13.28 grams per coin
- Composition: 80% silver and 20% copper
- Silver Content: 0.3416 oz of pure silver per coin (total of 9.56 oz of Silver in 28 coin tube)
- Diameter & Shape: 31.5 mm round
- Mintage: 36.5 million
- Obverse Design: Young portrait of Queen Elizabeth II by Arnold Machin
- Reverse Design: Australian Coat of Arms designed by Stuart Devlin
- Condition: Average Circulated Condition.
(1966-50c-silver-Tube-28)
| SKU | 1966-50c-silver-Tube-28 |
| Brand | Royal Australian Mint |
| Format | Silver |
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