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The Attrition Rate, Lifetime and Hoarding of Australian Decimal Coins

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  • Eric J. Frazer
  • John van der Touw

Abstract

type="main" xml:lang="en"> Samples of Australian decimal coinage were taken in 2008 and 2012 from a major currency processing centre in Melbourne. A generic model was developed to analyse the pooled data and give separate estimates of loss, hoarding and return rates, as well as the numbers of coins in circulation, hoarded and permanently lost. For standard design coins, no particular trend in attrition rate with denomination was observed and average lifetimes were generally more than 30 years. Higher attrition rates were observed for the commemorative 20 cent and 50 cent coins versus the standard design. Hoarding was quantified for the 5 cent and 50 cent coins.

Suggested Citation

  • Eric J. Frazer & John van der Touw, 2016. "The Attrition Rate, Lifetime and Hoarding of Australian Decimal Coins," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 49(3), pages 290-303, September.
    • Handle: RePEc:bla:ausecr:v:49:y:2016:i:3:p:290-303
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