A question that Bron from Perth Mint could best answer. How is the face value of legal tender gold and silver coins decided and what is the purpose of making these coins legal tender ? Also, if Australia introduced a bimetallic monetary system, would the face value of these coins still be valid. I just couldn't see a 1:100 ratio that currently exists for 1oz silver kooka: 1oz gold kangaroo being reasonable considering the fundamentals and history indicate a ratio of 1:16 or thereabouts.
In the US, I think that they are required to put a face value on it in order for it to be considered a "coin" and not a "token" or a "medallion", or something along those lines. You'd think that they would make the FV much higher than the BV and collect some seniorage for themselves!
