The Legit Australian Dollar, but with a Purpose
"Like any other $1 coin, the cycle of a donation dollar is ongoing, as is its potential for positive impact.”
- Mr. Mack Diarmid, CEO of the Royal Australian Mint.
The world's first donation dollar, a specifically made $1 coin is designed to be donated to the people in need. On International Charity Day (September 5, 2020), the Royal Australian Mint in partnership with Saatchi and Saatchi Melbourne launched the world's first lawful currency designed with the motive to remind people to donate.
Due to the ongoing Digital Revolution, the currency format has changed. Unfortunately, carrying less change in our pockets has led to unintended consequences. For instance, people roaming around the city could not donate to the people in need, the reason being lack of physical change. In a country like Australia, charities to the most disadvantaged individuals, mostly rely on coin donations. So, carrying a donation dollar reminds us to donate, not only in times of crisis but all year round.
There’s a simple premise- don't spend the coin, donate it. The Royal Australian Mint, in its annual release programme, intends to distribute millions of these AU$1 coins into circulation over the coming years, one for every Australian. These are unique coins featuring a green centre with a gold ripple design.
The mint has stamped over 25 million coins, one for every Australian. The AU$1 coin is stamped with the message ‘Donation Dollar: give to help others’. The more the coin is given, the more the green centre wears away to expose a collection of gold ripples, symbolising the continuous impact each donation dollar has made on the lives of those in need.
Australians could start to see the new ‘daily reminders to give' appearing in their change from today, and that each coin in circulation will create its own ‘loop of generosity’. Attaching a course will help people to learn and imbibe values from charity and their own experiences. If every Australian donated a donation dollar just once a month, it has the potential to raise an additional $300 million for charity annually and $9 billion over the coin’s 30 years lifespan.
When we donate digitally, it takes away the tangible aspect of not putting a coin into a tin or making a donation to a homeless person. The physical donation dollar will bring that physical touch, the connection to the person you are helping, and to keep alive your willingness to donate more and more, and help the people in need.
The Mint encourages giving donations ‘in all forms’- whether it involves donating to a struggling business, a registered charity, collector or simply handing the coin to a needy, the final authority lies in the hands of the giver to decide where the coin will make the most impact. This will unite every Australian charity and every Australian for a common good. The Donation Dollar holds the power to make a true difference with the support of Australia.
B.Com (P)
Second Year
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