Download Making Money

Activity
Episode 26
th
10 September 2013
Making Money
Key Learning
Students will use timelines to describe past events and changes in relation to Australian currency. Students
will solve mathematical problems involving currencies and exchange rates.
The Australian Curriculum
Mathematics / Number and Algebra / Real numbers
History / Historical Skills / Chronology, terms and
concepts
Recognise and solve problems involving simple
ratios (ACMNA173)
Use historical terms and concepts (ACHHS118) (ACHHS206)
(ACHHS099) (ACHHS082)
Express one quantity as a fraction of another, with and without
the use of digital technologies(ACMNA155)
Sequence historical people and events. (ACHHS117)
(ACHHS098) (ACHHS081)
Multiply and divide fractions and decimals using efficient written
strategies and digital technologies(ACMNA154)
Sequence historical events, developments and
periods (ACHHS205)
Mathematics / Number and Algebra / Money and
financial mathematics
Solve problems involving purchases and the calculation of
change to the nearest five cents with and without digital
technologies (ACMNA080)
Discussion Questions
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10.
Where are Australian coins made?
Where in Australia is the Royal Australian Mint found? Locate using Google Maps.
Describe what the factory looks like.
What is the name of the largest and strongest robot found at the mint?
What part of the process does Titan perform?
How many coins are made per minute?
a. 65
b. 650
c. 6,500
The Royal Australian Mint is run entirely by robots. True or false?
Describe how a new coin is designed.
What is Australia’s currency called?
Illustrate the coin making process from start to finish.
©ABC 2013
Activities
Art and Design
Ask your students to match the Australian coins with their corresponding designs.
Provide students with the opportunity to find out more about Australian coins, and the images/symbols that
are represented on Australian coins.
Research questions
What do the images on Australian coins represent? Think about Australian symbols.
Introduce students to coins of other countries. Collect and print a selection of coins, via online
research, from various countries around the world. Alternatively ask students to bring to school
examples of coins that they have collected from other countries. Ask students to name what country
the coins come from, and then research the significance of the designs.
Compare Australian coins and coins from another country. How are they similar or different?
What is numismatics? Conduct online research into the science, study or collection of coins.
What is the difference between a circulating and an uncirculating coin?
Do you know who is responsible for designing, minting, and releasing Australian coins? Meet the minties, the
people behind the scenes at the Australian Royal Mint. http://www.ramint.gov.au/designs/meet-the-minties/
©ABC 2013
Students will design their own coin. Brainstorm some ideas as a class. Students will need to consider the
following:
What elements make up the design of the coin? Consider shape, size, images, theme, colour and
currency.
What are you trying to represent? Is it an event, a commemoration, your school logo/emblem or is it
a new Australian coin? What symbols will you use?
Refer to the Royal Australian Mint’s Art & Design Investigation for more information on designing your own
coin http://www.ramint.gov.au/education/downloads/2011_Art_Design_Investigation1a.pdf
Mathematics
Watch BtN’s Strong Dollar story to find out more about the Australian dollar, and then answer the following
questions. http://www.abc.net.au/btn/story/s3230857.htm
Find out more about Australia’s currency. http://www.dfat.gov.au/facts/currency.html
Explain how the decimal currency system works.
What denominations do Australia’s coins and notes come in?
What is Australia’s currency called? Find and list the names of different currencies around the world.
The value of the Australian dollar against other currencies such as the US dollar, the Japanese yen and the
British pound can vary on a daily basis depending on a number of factors.
Find out the rate of the Aussie dollar compared to other currencies. List the rate today and then
compare the rate the following day. Refer to the Reserve Bank of Australia’s website for up to date
exchange rates http://www.rba.gov.au/statistics/frequency/exchange-rates.html
Australian
dollar
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
US dollar
Japanese
yen
British
pound
Using today’s exchange rate, how many US dollars would you receive for 100 Australian dollars?
Complete this calculation for other currencies and other amounts. To check your calculations use an
online currency calculator http://www.ratesfx.com/rates/rate-converter.html
What does a strong Aussie dollar mean? Who benefits from a strong Aussie dollar?
If you were travelling overseas to the US, would you rather a strong or weak Australian dollar? Why?
What does a high Aussie dollar means for the price of exports?
Is the Australian dollar doing well at the moment? Why or why not?
©ABC 2013
History
22 February 1965
Australian Royal
Mint opened
1984
The $1 coin
was first
released
1990
1c and 2c coins
taken out of
circulation
Provide students with the opportunity to create a timeline of significant historical events relating to the Royal
Australian Mint. Consider adding photos and video. Refer to the Royal Australian Mint’s website for more
information. http://www.ramint.gov.au/faq/
Timeline investigation
When was the Royal Australian Mint opened?
What is Australia’s rarest coin?
When was the name ‘dollar’ first approved?
Which coin and note denominations were in use during the time of Federation?
When was decimal currency introduced in Australia?
When was the $1 coin first released?
When was the $2 coin first released?
When were 1c and 2c coins taken out of circulation?
What is the origin of the $ sign?
When did Australia change to a decimal currency system?
Watch this animation which was made to help Australians with
the change from shillings and pounds to dollars and cents.
http://vrroom.naa.gov.au/records/?ID=25372
This animated black-and-white television advertisement was
designed to assist Australians with the transition from imperial
to decimal currency on 14 February 1966. Through a questionand-answer format, a grandmother and a small girl explain the
transition between currencies, the comparative value of each
currency and the ability to use either dollars and cents or
pounds, shillings and pence for up to two years after the new
currency goes into circulation.
For inspiration take a look at these infographics which track the history of the British Royal Mint.
http://visual.ly/tax-free-gold-and-royal-mint-history
http://visual.ly/changing-face-british-coins
©ABC 2013
Use templates provided by dipity or read write think to create your own timeline.
http://www.dipity.com/
http://www.readwritethink.org/parent-afterschool-resources/games-tools/timeline-a-30246.html
 Related Research Links
Royal Australian Mint – Frequently Asked Questions
http://www.ramint.gov.au/faq/
Royal Australian Mint – Education: At the mint
http://www.ramint.gov.au/education/
Rates FX – Currency Convertor
http://www.ratesfx.com/rates/rate-converter.html
©ABC 2013