Mistakes on $50 Note. What A Joke.

**enf** · 09-05-19, 04:50 PM

Bwahahahaha...how many times were they proof checked I wonder...FFS.

**exited** · 09-05-19, 05:27 PM

I was looking for the extra "zero" on my notes

**mtv** · 09-05-19, 05:41 PM

It's making international news.

At least the yanks can have a giggle to briefly take their minds of the political sh!tfight over there.

**lsemmens** · 09-05-19, 06:37 PM

**ol' boy** · 09-05-19, 06:55 PM

Must be the same person that is displaying petrol prices, they seem to be wrong also

**Uncle Fester** · 09-05-19, 09:50 PM

No the petrol prices are about right:

The yellow and green note, which is worth around US$35,

Maybe they should just reprint our $50 with the comment: "It is actually only worth $35", to keep us reminded where our economy is heading.

**OSIRUS** · 10-05-19, 09:16 PM

If they fix the error on the note .... and notes printed later do not have the error ....

I would suggest anyone who has one of the notes with the error (in very good condition i.e no folds tears dirty marks etc ...)

should put it away it may be worth a lot more to banknote collectors in years to come

**lsemmens** · 10-05-19, 09:55 PM

Sadly, Osirius the round 50c coin is more likely to be a better investment, there are way too many of them in circulation and people like yourself think that they are on a winner, but, in reality any collector who is serious would have already latched onto a mint unused one. People also hung onto the old $1 and $2 notes in the hope of a ROI and, typically, find that they are worth more at the local store than they are to a collector.

**peteramjet** · 10-05-19, 10:16 PM

Originally Posted by OSIRUS

should put it away it may be worth a lot more to banknote collectors in years to come

Already going for $700...

**lsemmens** · 11-05-19, 01:16 AM

And no bids yet.

**Keith** · 11-05-19, 11:59 AM

Originally Posted by lsemmens

And no bids yet.

Buy it now.

**Uncle Fester** · 11-05-19, 01:22 PM

Originally Posted by OSIRUS

If they fix the error on the note .... and notes printed later do not have the error ....

I would suggest anyone who has one of the notes with the error (in very good condition i.e no folds tears dirty marks etc ...)

should put it away it may be worth a lot more to banknote collectors in years to come

They stated in the reports that the bills will NOT be taken out of circulation so are millions of them.
Collectors are after things that are RARE.
Certain serial numbers like so called radar numbers and low volume prints of errors that were found quickly are in demand.

Yes 50c rounds contain a lot of silver so they are worth a fair bit more than all the other scrap metal and toilet paper we call money.

LOL at that Ebay listing, "Only 400Million printed"

**Keith** · 11-05-19, 02:32 PM

Correct, 3 round fifty cent coins make up 1 ounce of silver. The selling price of round fifty cent coins is based on silver prices not on rarity. Anybody who hoards any of these fifty dollar notes will lose in the long run. They will only be worth fifty dollars in the future, but the buying value of the note then will be less, so the hoarder loses.

**OSIRUS** · 12-05-19, 12:39 AM

The People who are making a killing on the new $50 at the moment are the ones that have the AA18 (first prefix serial numbers) and are in CFU (Crisp Flat Uncirculated) condition as well as having the error which makes them highly collectible

I have seen people selling these on ebay for $84 and upwards

True other new $50 notes with other less important serial numbers and in less collectible condition with the error may only be worth face value for many years unless not many are saved by collectors

**trash** · 13-05-19, 02:16 AM

I'm not sure some people understand the bigger picture here.

Money (cash) is like a loan taken out by the government. They have to repay that loan when they take that money out of circulation.
Now that might mean they print a new note. Pay out the existing loan with a new loan.

But if that note is lost or taken out of circulation, the government never has to pay it back. It's $50 free money to the government.
Money isn't always what is printed on it as face value.

If the government can convince people to hoard cash for decades, (thinking their $50 note will be worth $500 in the future) when the future does come and they decide to sell the note only to discover it is only worth $50 (because so many of the error note exists) that they decide it's just simpler to spend it.
But inflation has made $50 worth less over that period of time. The note runs back into circulation and then out again to the government.
$50 in 2019 is worth $40 in 2029 when the note re-enters circulation and then is recovered. That's $10 the government never had to pay back.
It's not as good as the $50, but as they say in the alley behind the Oxford Hotel, $10 is $10.

What is the most common Australian banknote in circulation?
It's the $50 note, followed by (half) the $100. Together they make up more than two thirds of the notes (not the value) in circulation.
There is almost twice as many $100 notes as there are $5 notes. Yet you hardly ever see the $100 notes.
Try asking a bank for $100 notes when you withdraw a large sum of cash. They usually have to resort to $50 notes.

What does that tell you about the Australian economy?

I love giving conspiracy nutters the $100 note story. You can it causes a minor seizure as their brain pushes small square pegs into large round holes and wonders why they fit?

**Keith** · 14-05-19, 12:03 PM

Originally Posted by OSIRUS

The People who are making a killing on the new $50 at the moment are the ones that have the AA18 (first prefix serial numbers) and are in CFU (Crisp Flat Uncirculated) condition as well as having the error which makes them highly collectible

I have seen people selling these on ebay for $84 and upwards

True other new $50 notes with other less important serial numbers and in less collectible condition with the error may only be worth face value for many years unless not many are saved by collectors

Correct with the AA prefix. First and last prefix do get more than face value, and that value is less if the serial number isn't in the low numbers or near the end of the production run for the last prefix, but sometimes it is not worth the effort to hold onto and sell these types of notes. With the Ebay sales, I wouldn't call that a killing, as Ebay charge 10% and paypal charge 2.9% and a static fee. So 13% of $84 is just under $11 meaning $73 sale, if it does actually sell. With packaging and running to the post office, it really isn't worth it.

**trash** · 14-05-19, 07:41 PM

I find it amusing that the new notes are disappearing from circulation really fast.
I've only seen one since the announcement and I've had about $600 in 50's pass through my hands, all of them old notes.

It's a bit like $1 mules. The price seems to have settled back to $700-$800 on ebay for them. They were as high as $1500, which was a bit ridiculous given how many were minted.
Even the non-mules are now worth more than $1. There were 7.5 million 2000 one dollar coins minted that weren't special marks (not mules) And yet 1987 $1 coins are rarer.
There are only 200,000 of them in existence and some of them were accidentally minted in 22ct gold.

So by this logic.... hoard those shiny $50 notes.