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The Mint Releases the Donation Dollar in Australia

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In a world first, the Mint intends to distribute millions of these Donation Dollar coins into circulation over the coming years – one for every Australian. Each of these unique coins features a green centre with a gold ripple design symbolising the ongoing impact each donation makes to those who need it most. A first run of 3 million coins have been released into circulation. The intention is to produce 6 million in 2020 and 25 over the next 2 or 3 tears, one for every Australian.

The coin can be donated wherever cash donations are accepted, leaving it up to the owner to decide where the money should go. They can donate it to their charity of choice, to a struggling business, or to anyone in need. The coins are legal tender and can also be spent as any other circulating coin. The initiative was announced in the lead up to the International Day of Charity (September 5) and follows a tumultuous year for Australia with millions impacted by devastating bushfires, the coronavirus pandemic and the first recession in almost half a century, leaving many in need of support.

One in five Australians say they’ll require some degree of charitable aid over the next 12 months. Studies conducted ahead of the coin’s release revealed nearly 57% of people say they would be likely to donate this coin if found in their change. But the coin also sends a powerful reminder of the importance of donating.

“Like any other one dollar coin, the cycle of a Donation Dollar is ongoing, as is its potential for positive impact,” Royal Australian Mint CEO Ross MacDiarmid said. “If every Australian donated a Donation Dollar just once a month, it has the potential to raise an additional 300 million dollars annually for those who need it most. So, with Australia’s support, we believe Donation Dollar has the power to make a real difference.”

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The IBDA and CashEssentials have been joined by other industry organisations in August – including ATMIA, BnEI, IACA, ICA, the National ATM Council and Reconnaissance International – to develop the Humania Banknote Initiative to support global recovery post Covid-19 by bringing together all actors in our community. The initiative aims at executing a multi-phase project that will generate revenue for distribution to aid agencies via direct and indirect channels. The project will be launched with a Global Design Initiative in September. The Humania banknotes will be based on one or more of these designs. The final stage will lead to the origination, production, sale and distribution of selected Humania Banknotes to Intra-Cash Industry and Extra-Cash Industry Actors.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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