RBA orders new Aust bank notes designs

Discussion in 'Banknotes' started by mmm....shiney!, Sep 27, 2012.

  1. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I guess you could spray all your notes with UV reactive paint and blast it with an EMP before you spend any but I doubt any shop keepers would accept it afterwards. Well the banks and supermarket chains wouldn't so it would be the small shop keepers who would end up laundering it.
     
  2. hiho

    hiho Active Member Silver Stacker

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    its a blow to anyone wanting to cash in their bullion later on though, as all transactions would have to be electronic
     
  3. metalzzz

    metalzzz Well-Known Member

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    For this system to work, every business would have to have a cash scanner and it would be mandatory to scan every note on each transaction or else holes would exist in the flow of money. You could see how big business would embrace it as the cashier would just have to scan the note and the correct change would be calculated. Then scan the change before giving to the customer. Discrepancies would be reduced if the system was followed I would think.
    It wouldn't be the spenders that are chased but the businesses. As they would have to explain how the trail stops with their name on the notes
     
  4. Austacker

    Austacker Active Member

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    I like the designs, I look forward to a change.

    Thanks
     
  5. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    They ought to put the Wiggles on our bank notes.

    $5 Purple Wiggle
    $10 Blue Wiggle
    $20 Red Wiggle
    $50 Yellow Wiggle
    $100 Dorothy Dinosaur

    If you want to have a $500 you could colour it brown and have Wags the Dog on it. Rather appropriate I reckon. :D
     
  6. doomsday surprise

    doomsday surprise Well-Known Member Silver Stacker

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    I like the designs as well. Just wished they were backed by gold/silver. :)
     
  7. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    No problems with the designs, they look quite nice and it will give the bank note collectors something to do.
     
  8. hussman

    hussman Member

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    But why change it? just for security reason? The notes we got we have been using for decades with no problem.
     
  9. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    Fake $50 and $20 notes have been produced and circulated.
     
  10. hussman

    hussman Member

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    But how many are we talking about, will these new notes be unable to be reproduced? Just seems like so much effort and a waste of money.
     
  11. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    The new notes might have microchips in them to make them harder to fake? Also inbuilt GPS so the ATO can see where all the pensioners are hiding their $100 notes. :D

    I tend to agree that making new banknotes is a waste of money. But it will happen regardless.
     
  12. steve.rsa

    steve.rsa Member Silver Stacker

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    New notes have to be issued to replace old at some stage anyway - so why not make the counterfeiting harder at the same time, seeing as the old notes have been 'cracked'.
     
  13. Austacker

    Austacker Active Member

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    I used to work for a large company that was involved in the new technology for the Australian Passports (not my area) I can almost guarantee there is a built in whatever that will track, trace or have some type of chip in it. These may not be the finals. Some of the technology may be inserted yet not activated. Use it for wear and tear tests first. Who knows but it will get in there no doubt what so ever eventually.
     
  14. systematic

    systematic Well-Known Member

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  15. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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  16. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    The Zimbabwe notes were quite pleasing to the eye as well
     
  17. Guest

    Guest Guest

    The sole reason for the new notes is to put nanotechnology in them to track each note. I'll guarantee it.
     
  18. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    The note printing scandal was 'just' bribing foreign officials to switch from paper to plastic money, and mostly reflected the way business was done in those countries anyway.

    Some countries are going back to paper because of the lack of competition in the polymer market making it too expensive and some countries are finding out they can't change their notes because the company printing them owns the copyright to them.

    It's a cut throat world in the international banknote arena!
     
  19. willrocks

    willrocks Well-Known Member Silver Stacker

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    I wonder how much this changeover costs the economy. In particular private businesses?

    Most vending and ticket machines, car-washes, change machines will require upgrading. Banks have note counting machines. Not sure if ATMs will need upgrading? At the very least they'll need to be tested.

    And what's the net gain?
     
  20. fishball

    fishball New Member Silver Stacker

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    More jobsssssssssss

    http://en.wikipedia.org/wiki/Parable_of_the_broken_window
     

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