What happened to Australian gold sovereigns after 1931?

Discussion in 'Sovereigns' started by SpacePete, Feb 25, 2016.

  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Did we stop minting Australian gold sovereigns after 1931? What happened?

    I admit I know very little about the history of sovereigns and only realized today that Australian sovereigns seem to stop at 1931.





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  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    From memory maybe something to do with the amendment to the Commonwealth bank Act of 1911-1929, basically it was to do with the amount of gold reserves the commonwealth bank was meant to hold in reserve to back their legal tender. You'll notice that old Commonwealth bank notes from 1901 until sometime I can't remember were redeemable for gold, that stopped. Over the period from 1901 until 1931 the amount of gold held in reserve as a ratio of gold/legal tender was watered down as the government started to run out of money.
     
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Cleaning my computer and found this. I wrote it for a website I used to have on pre-decimal notes a few years back:

    Edit to add: I think that $14 000 000 should be Pounds, not certain, can't remember.
     

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