Wanna know about the Aussie dollar in your wallet- Here are the seven known facts to amaze you. 2 Likes

Everything has its own history and so is the fascinating story of our Aussie dollar. You need this money daily as it is a part of your life with which you can buy food, clothes, medicines and fulfil your other daily needs. Find here some seven amazing stories and facts that you will love to know about Australian money.

1.Have you happened to see one and two cent coins? Few of you must have used them but many might not. They were made of bronze and were heavy to carry around. These bronze coins were removed from circulation in 1992. All of these were collected and melted down to create the bronze medals awarded in the Sydney Olympics of 2000.

2.Don’t be surprised but be proud if you come to know that Australia was the first country to develop the first ever plastic bank note. It was because paper money forever needed to be reprinted due to damage, Aussies pioneered in making plastic money. These notes in turn now live 4 times longer than their paper counterparts. Also they are harder to counterfeit, and now polymer invention is the future of printed money. It even withstands the old washing machine, notorious for destroying currency worldwide. As the notes are made of plastic, people often wonder whether they capable of withstanding the heat of an iron but they do though only at a mild temperature.

3.Australians had royal currencies. In 1965, Sir Robert Menzies was the Prime Minister and Australia was in the process of switching from the English pound to its own national currency. Sir Robert Menzies suggested the new currency be called ‘royals’ – further showing his loyalty to the monarch. Eventually the dollar was agreed upon, though not after some other hysterical suggestions including: The Roo, The Digger, The Boomer, The Kanga, The Kwid, The Dinkum and more.

4.Australians love to invest in actual money. The Australian mint often produces 'limited edition' coins and banknotes that are legal tender, like the rare $5 coin. This means the coin may be worth $5 exactly in a retail sense, however due to their scarcity investors actually pay more for the coin itself as a collectors item. This means they may invest $1000 for a note or coin that actually has a legal value far less. The 50 cent coin, introduced in 1966 was originally made with 80% silver, but as the value of silver increased the coins' bullion value became more valuable than its face value of 50 cents, and so were withdrawn from circulation in 1969 and replaced with the 12 sided coin that you use today.

5.As polymer plastic notes are reputed as impossible to counterfeit as said earlier, fake $50 notes have flooded the market. This has happened because some crafty individuals have still managed to copy the $50 note making it the most frequently copied note. Police have worked tirelessly to shut down these illegal operations and have since slowed the distribution of the illegitimate notes. To spot a fake $50 note, the police have noted you should scratch a coin across the see-through windows of the bank note and see if the printed star comes off. If it does, it is fake. The real notes have a star that is unable to be removed as it is within the polymer itself. Other security measures found on Australian bank notes include; micro printing, raised ink which you can actually feel the texture on the note, fluorescent ink and you will see the number ‘50’ on $20, $50 and $100 notes along with a square shape on $5 notes and more. You simply need an ultraviolet light to view.

6.If you damage money it is a crime you are doing. The costs of producing money is funded by the Government and in turn is the property of the Government; any intent to wilfully deface, disfigure, mutilate or destroy any coin or note is technically punishable by law and carries a fine of up to $10,000 or 2 years in prison

7.Does your money contain bacteria? The bacteria found on bank notes are often believed to be extraordinary and the research conducted at the University of Ballarat indicates that coins and bank notes did indeed contain bacteria, though not on a scale that is seen as overwhelming or deadly. Like anything, germs are present like the bacteria called salmonella was high though still did not pose a concern to the researchers.