Royal Australian Mint launches $1 coin hunt

The Royal Australian Mint is celebrating the 35th anniversary of the Australian $1 coin by launching a treasure hunt competition.

The Australian Royal Mint has released 3 million $1 coins with the letters A, U and S on them. Source: Royal Australian Mint

The Royal Australian Mint is releasing three million $1 coins marked with the letters, A, U and S into circulation.

It's an initiative aimed at encouraging coin collecting and promoting family discussion about money.

“At a time of growing ‘intangibility’, the Royal Australian Mint is delighted to launch a program to encourage a whole new generation of collectors both young and old, who will not only collect these coins but also be reminded of the value of a dollar,” CEO of the Royal Australian Mint Ross MacDiarmid said on Thursday.

Source: Royal Australian Mint

Families which do collect one of each coin, which also marked with the number 35, can enter a competition to win one of eight trips to Canberra.

“The need to collect is as old as humanity and transcends time and culture. Australia’s Dollar Discovery is a nationwide treasure hunt that we hope encourages Australians of all ages and from every state and territory to check their change for these special coins,” Mr MacDiarmid said.

The Australian $1 coin was first introduced on 14th May 1984, nearly one billion of them have been minted since then with the denomination often used for commemorative designs.

More information can be found on the Mint's Dollar Discovery website.