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Wednesday, November 25, 2020

Mint launches new $1 coin to encourage donations

The Royal Australian Mint today (2 September) launched the ‘Donation Dollar’ – a $1 coin that’s been designed to be donated.

The coins feature a green and gold design with a reminder for the receiver to “give to help others”. It’s the first time the Mint has used a design with colour on a circulating $1 coin.

Once received, the coin can be donated anywhere cash donations are accepted. The Mint is encouraging people to donate the coin to those in need whenever they find one in their change.

“The coins will go through the normal circulating coin process, which is through the banks, and they’ll be out into the marketplace progressively from today on, and that means people can look out for them in their change,” said CEO of the Mint, Ross MacDiarmid.

Three million of the coins have been released into circulation, and the Mint plans to release millions more – one for every Australian – over the coming years.

Mr MacDiarmid said, “like any other $1 coin, the cycle of a Donation Dollar is ongoing, as is its potential for positive impact”.

He said the coin would encourage people to think about donating their Donation Dollar, which could have a huge impact for the struggling charity sector in the wake of bushfires and COVID-19, “at a time when charities are desperately needing whatever support they can get”.

“If every Australian donated a Donation Dollar just once a month, it has the potential to raise an additional $300 million annually [based on a population of 25 million Australians] for those who need it most.

“So with Australia’s support, we believe Donation Dollar has the power to make a real difference.”

The Mint’s 2020 Australian Generosity report found more than half of Australians (57%) said they would be likely to the donate the coin if they found it in their change.

ILR
ILR