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Hoarding cash in a cashless society

hoarding-cash-cashless — Image by S. Hermann and F. Richter, Pixabay.com

Australians have been hoarding cash, particularly through the first year of Covid-19, despite forecasts that we will be a 98% cashless society by 2024. Even if this prediction from global payments giant FIS comes to pass, some 540,000 Australians will still prefer to use cash.

You may recall a flurry of news stories on this topic in March. The research commented on the effect of a de facto ban on cash during the first year of Covid-19. Even now, merchants are discouraging the use of cash at point of sale.

The topic was prompted when Professor Steve Worthington of Swinburne University’s business school sent me an article he prepared for the ANZ Bank publication, Blue Notes. The topic was ‘Can cash survive the digital tide?’

Prof Worthington says the key issue with the domination of electronic transactions is that it excludes people who either rely on cash or prefer to use it. He argues that physical cash should be classified as an essential service (designated as a Public Good).

It may not surprise to learn that Australia’s high cash users are likely to be older people, have lower household incomes, live in regional areas and are less likely to have access to the Internet.

As you’d know, banks offer their customers internet banking, but you need a secure internet link to do so.

The Australian Bureau of Statistics (ABS) estimates that two million Australians do not have access to the Internet. Many Australians use public internet, most commonly at public libraries – not the most secure method of conducting Internet banking.

Prof Worthington notes that there is now more cash in Australia than ever before, with record growth in 2020. But it is not showing up in the Reserve Bank of Australia’s statistics as being circulated.

A cash payments study by the RBA in June last year confirmed that Australian consumers were continuing to switch to electronic payment methods in preference to cash. The share of in-person cash payments was still substantial; at 32% by number and 19% by value in 2019, down from 43% and 30% respectively in 2016. But generally, we have taken to tapping and going.

Meanwhile, the RBA is mystified by the rising demand for cash, which does not show up in circulation data. Cash (notes issued in excess of those returned), soared 17% during 2020. The average in the decade prior was 5% a year. The Reserve Bank went to its contingency fund twice during 2020, such was the demand for $50 and $100 notes. There are now 36 $50 notes and 16 $100 notes in circulation for every person in the country.

(“Where are mine?” – She Who Keeps Coins in a Tin for Christmas).

Tabloid newspapers and current affairs programmes go to the ‘stashed under the mattress’ cliche when reporting on this curious social trend. Given the meagre returns available on term deposits and the comparatively low cost of domestic safes, it is fair to assume some people have a stash of cash at home.

There could be many reasons for this apart from convenience; like hiding one’s income from the tax office, Centrelink or the ex.

I’m from the pounds shillings and pence era when shops would not cash a cheque unless they had previously done business with the person presenting it. Cash was definitely King then.

My Dad used to call hard currency ‘filthy lucre’ and while he took cash over the counter in the bakery shop, he always washed his hands before handling food. The term ‘filthy lucre’ does not mean that banknotes are dirty – it’s a biblical reference to ill-gotten gains. But I digress.

Australians have gravitated big time to electronic banking solutions. The biggest clue is the absence of queues at ATM machines and mass withdrawal of ATMs in city suburbs – 2,500 gone in 2020 alone.

Forecasts that Australia would be a virtual cashless society by 2024 were drawn from a new report by financial giant FIS Global. Mike Kresse, head of global payments at FIS, believes cash will be virtually retired by 2030.

“From individual consumers and small businesses to the largest clients, cash can’t compete with rising expectations for fast, safe and easy payments,” he said when launching FIS Global’s annual report.

“The smartphone was already transforming payments, and the pandemic brought the future faster, accelerating the trends.”

FIS forecast that by 2024, Australia will be the fourth most cash-averse economy in the world after Sweden, Denmark and Hong Kong.

Prof Worthington says Australian authorities need to work on establishing a way to include people who still want to use cash, hence his plea to consider cash as an essential service.

“We are using less cash as a payment system, but today people still need access to cash. That may be because of a desire for privacy, convenience or as a backup payment option when all else fails.”

Cash is still the preferred payment option of many small traders and sub contractors. The Australian Taxation Office (ATO ) occasionally has a blitz on companies thought to be under-reporting income, one year targeting 45,000 small businesses.

“We use a range of tools to identify and take action against people and businesses that may not be correctly meeting their obligations,” the ATO says.

“Through data matching, we can identify businesses that don’t have electronic payment facilities.

“These businesses often advertise as ‘cash only’ or mainly deal in cash transactions. When businesses do this, they are more likely to make mistakes or don’t keep thorough records.”

It’s comforting to know that the ATO differentiates between the cash economy, the ‘shadow’ economy and the ‘black’ economy, the latter run by organised crime groups dealing in drugs, prostitution and people smuggling.

This topic got me thinking about the day in 1984 when I was locked in a secure room with a million dollars. Our chief of staff had been asked to send a reporter and photographer to a bank branch in Toowoomba. The occasion was the arrival of Australia’s first $100 note – in this instance 10,000 notes delivered in a square block. The cash was transported by train from the Reserve Bank mint at Craigieburn in Victoria. Secrecy was paramount and we were not told when the photo opportunity would happen until half an hour prior.

I have to tell you, a million dollars in $100 notes takes up a lot of space in a room. Our photographer fitted a wide angle lens to best capture the great block of notes and obligatory men in suits.

These days, I almost always carry cash in my wallet and feel naked if I run out. Despite having a debit card and a credit card, it somehow just isn’t the same. Even during Covid in 2020, when retailers looked askance at people tendering banknotes, I slipped the odd five or ten across the counter. Cash will always be an attractive option for some people because (a) it is anonymous and (b) does not leave an electronic trail.

After all, until the day when marijuana is decriminalised, regular users will turn up at the usual location with $300 or so in cash. There are many such occasions when consumers are unlikely to use buy now-pay later options.

No sooner had I written that, an ad for Safepay popped up on my screen! How do they do that?

Working From Home In The Time Of COVID-19

working-from-home-covid-19 — Working from home through covid-19

Fifteen years ago, just after SARS but before the GFC and COVID-19, I opted out of full-time paid employment and started a consultancy business, working from home. This was an era when many large organisations did not want their employees working remotely. The resistance was hard to understand, given that even in 2005, the technology to do so made it easy, particularly for people in the communications industry.

Now, in plague-ridden 2020, many employers have made working from home mandatory. A Morris dancer friend, whose work often takes her to places like India, has her office set up in one corner of the house. That’s K’s home office above.

“Contrary to others perceptions of this period, I am finding that I am extremely busy (hence the short note), because I have to carry out my usual job achieving the same minimum number of hours. I also have to work out a family timetable and supervise and enforce the online learning that the children have been given. It is a real handful, and with limited computing resources in the house, we are packed like sardines into the office and dining room space. This results in a lot of distractions and consequently late hours of work.

“But I am finding this period more social because people are uploading virtual folk clubs, sessions and dance events I would not otherwise have the time to attend. It is an exciting and vibrant time, full of possibility for musical and creative pursuits.”

Mr Shiraz, who recently attended a virtual board meeting via Zoom, said he has seen some inventive ways of setting boundaries when someone is working from home.

“This can range from a sign on Mum’s closed office door “Mummy is at work,” to a friend who posted a list of possible answers to things the kids want to ask her (“Have you looked in the fridge?”).

Residential property researcher Michael Matusik, who has been working from home for nearly five years, has a few practical tips. The most important one is: “Put your arse in the chair” for a set time every day.

“You need to focus and the best way to do that is to be at your desk and sticking to a routine,” he said in a recent Matusik Missive.

”Make a to-do list for the day, week and month ahead and stick to it.

“It is easy to labour unproductively when working from home. It is best to set yourself timeframes to do certain tasks and to take set breaks each day.”

(see link below)

Freelance writer Lisa Southgate started working from home in late 2001 and loves it, so is intrigued to find that friends forced into it by COVID-19 are not coping.

“I was fresh from a job in a big newspaper office, and I knew, because I had a teenager on the spectrum, that whatever I did next it had to involve the late-ish start to the day we used to have in newspapers then. “My son was in his teenage years, and it took him forever to get to school.

“At the time I was getting heaps of freelance offers. I was working in property, tourism and business, and there was a property boom, a tourism boom, and an increase of interest in investment. So I called my accountant, set up an ABN and a business structure and went to it.

“It was great! I could get my son off to school – I could take the endless whingey phone calls from the school staff. And I could concentrate on work and not office politics.

“I didn’t have to spend so much money on clothes and makeup for looking presentable in the office. I sometimes wondered what my interviewees would have thought if they’d seen me sitting there in my Ally McBeal pyjamas.”

The key to working from home, Lisa says, is to work out when your brain works best and design your day around that.

Musician and instrument-maker Andy Rigby reports from rural Victoria that while there are no COVID-19 cases in the vicinity, he thinks it is only a matter of time. He is accepting that this (home isolation), will go on for some time, which might be a problem for his daughter, who is in Grade 6 and bored after day one.

For his part, Andy plans a re-union with the local bush (“which has been sadly neglected in our busy lives”.)

“I have several harp orders, plus whistles, and a fair bit of potential on-line teaching to arrange, so I don’t think I’ll be bored for some time yet.

“I reckon I would qualify for some Government assistance as a small business with most of my income (gigs and school jobs) denied by the virus.”

Self-sufficient people who live on rural properties have no shortage of things to do, although they don’t describe it as ‘working from home’.

Former Queenslander Marion lives on a 52ha farm, in Victoria, which includes about one hectare of ornamentals and vegetable gardens.

“I have no problem productively filling my day with just this work.

“I have had a vegie garden for the five years I have lived here and we have our own meat (cows and sheep) and chooks for eggs. So there is no shortage of food and we are relatively self-sufficient (except for the dreaded toilet paper which I am now rationing).”

Marion, like so many of the kind readers who responded to my request for home-alone anecdotes, advised us to: “Stay well, stay safe and stay sane. This too will pass.”

Teri from the Granite Belt is not troubled by isolation, keeping in touch with friends and family via group messages test and phone calls. She prefers the latter because “hearing someone else’s voice is the next best thing to a face to face visit.”

“Because we live on a bit of land, we love being at home. Nature is good company. There is always plenty to do here, both practical and creative, with veggie garden, repairs and decluttering top of the list at the moment.”

Ralph from South Australia says staying at home is something he has become used to in recent years and offers some tips.

“I go for days without utterance sometimes, but I am never bored, because there is so much to do. There is the variety of household chores, the cycles of gardening, getting dirty with weeds and compost, harvesting and house repairs.

“There’s writing the letters you’ve long forgotten to send to old friends and rellies, learning poetry, reading the world’s best speeches, playing chess and, can you remember the rules for cribbage and euchre?”

On a serious note, we know people who are at various stages of chemotherapy or have compromised immune systems. For them, self-isolation is literally a life-preserving strategy.

David, who has just finished his last round of chemo, is susceptible to coronavirus and understands that he needs to self-isolate, along with Mrs David. He tells me, in a fairly neutral way, I thought:

“(Mrs David) is doing her choir practise in the kitchen on her iPad for the first time ever, and it is working.’’

Peter from the Hinterland speculated that there is an important-sounding future PhD thesis in: “Priorities in Panic Buying as an Indicator of National Character.”

“Data I have noted to date (according to impeccably reliable newspaper reports):

Australia: toilet paper, then alcohol
Britain: toilet paper, then all groceries
Italy: pasta and tickets out of the country
USA: more guns
Argentina: viagra

Or as another Pete friend said, in a postscript to an email sent when we were travelling:

“Drive safe and keep your bum clean.”

More reading: Wise words from travel writer Lee Mylne https://aglasshalf-full.com/2020/03/23/a-freelance-writers-top-tips-for-working-from-home/

Lisa Southgate’s tips:

Michael’s tips https://matusik.com.au/?s=working+from+home

Splendid isolation in the time of COVID-19

Isolation-COVID-19 — Two wallabies practising social distancing (in Wodonga, Victoria)

As we drove 1,200kms in haste from Albury NSW to the Southern Downs, trying to escape Queensland border chaos, I was grateful for readers’ insights into COVID-19 and isolation. First of all we should credit Sandy W with the witty caption for this week’s photo.

Realising I’d be spending three days driving home before resigning ourselves to self-isolation, I asked FOMM readers for their thoughts on this health crisis. I was overwhelmed with responses, so will keep some back for next week’s quarantine episode.

Two readers sent me the same meme which essentially says:

“Your grandparents fought in a world war. All you’re being asked to do is sit on the couch. Don’t fuck this up.”

The meme memo was a bit too late for the hapless authorities who allowed 2,700 people to disembark from the Ruby Princess and mingle amongst the crowds in Sydney’s streets, shops and nightclubs; 130 passengers have since tested positive to COVID-19.

Yesterday we began 14 days’ voluntary home detention, mindful that we have been travelling through rural NSW in recent weeks.

King Richard of The Village said self-isolation is ‘great’.

“I’m enjoying the time to do all those jobs at home that I put aside for another day. We visit the IGA late in the evening when we need to and keep in touch with friends by phone. It’s a bit like my childhood memories of World War II and self-sufficiency.”

I asked our musician friend Silas Palmer how his gigs were going: “Six major festivals and a lot of small events, all cancelled but we’re in the same position as everybody else.”

“But we’re practicing a lot,” he added gleefully.

Katie Bee self-deprecatingly said: “So far the trickiest thing for me is that with so many things I CAN do, and so much time to do them in, my procrastination knows no bounds!

“But I’m finding myself a little more often on FB, and keeping in touch with friends by phone or email, and am gradually doing jobs that normally never enter my consciousness, after which I reward myself with some Netflix.”

Superchip from Calgary said that having been raised on a remote prairie farm in southern Alberta, isolation was not something that caused him great angst.

“I do not consider my formative years as being spent in social isolation, but I did spend a lot of time alone. I learned how to make my own fun. I learned how to just sit and try to take in my surroundings. I enjoy the company of other people, but I don’t need it on a constant basis. Given the state of the world at present, I feel I am one of the lucky ones. Getting past the pandemic will not be a mental challenge for me.”

Anne and John are self-isolating, which means missing out of physical contact with grandchildren.

“We are missing our music session, our book clubs and exercise classes,” Ann said. “Our little granddaughter (supposed to be keeping to her school routine at home), Zoomed us this morning and tried to teach us some origami to keep us occupied…..argh!”

Barbara is coming to terms with strict tests and limits in her home, the Independent Living Unit section of an Aged Care Facility.

“The impact of the virus has radically changed our lives in the past couple of weeks, but particularly in the past couple of days. All entrances other than the main one to our Residential Care Facility were closed last week; entrance restricted to two only visitors at a time (who have their temperature taken and are then asked to use hand sanitiser). This test has now been extended to delivery drivers visiting the facility.

Despite the constraints, she does not feel out of touch with the world.

“My IPhone is in full use. I can have uke jam sessions with friends; enjoy the light hearted Facebook posts and many, many things to keep my day full.”

A few of my readers appear to belong to the introvert club (we are apparently supposed to teach extroverts how to handle this).

Roger Ilott has been a professional musician and sound engineer for more than 30 years and is not fazed at all.

“As the ultimate stay-at-home, this is fulfilling a lifelong ambition of mine – I’ll never have to go out again!

“I actually always just wanted to be a session musician and did quite a bit of that in the 1970s and 1980s. Since Penny (Davies) and I started our own folk music label back in 1982, I’ve been able to do loads of session work as well as performing. I’m happy all my days sitting in the studio recording (and in cricket season, streaming the Sheffield Shield while I record!).”

After eight days in isolation, Ruth realised this was very similar to how her life has been for the past eight years, caring for her husband who had a serious stroke.

“I have come to this realisation after speaking to family and friends on the phone, some of whom are expressing angst and frustration. On listening, I realise I don’t feel like this at all. I am actually loving it. Loads of time in the garden( work and pleasure), heaps of time for photo sorting and sending, enjoyment in doing things I NEVER do, eg, cleaned all our windows inside & out the other day!”

Choir enthusiast First Soprano said that self-isolating for a couple of weeks would be easy as long as you prepared appropriately.

“Social isolation, as we know, is not a healthy situation (and unfortunately, unlike the Italians, we don’t live in high-rise flats; Italian city folk have been able to continue “socialising” from their balconies, which actually looks like lots of fun and would certainly keep spirits up), but happily in this day and age we have Skype and FaceTime so we can still easily keep in touch with family and friends.”

Jim from Albuquerque said life in the time of Corona had made a difference in his working class neighbourhood.

“Both friends and neighbours with either high or low paying jobs are on furlough or worse. Some better compensated than others in time-off but all paddling the same boat. Neighbourly relations are conducted at a safe remove but with a higher content of cordiality: Hey, howya doin’?; Feelin’ OK?; Need anything? Toilet paper?”

“Mercifully, no one is sick.”

Jon from Vancouver Island says there is always plenty to do on his little farm in what is often regarded as Canada’s Riviera.

“Spring has just arrived, which means preparing the garden for the upcoming season. Like many, I shudder when reviewing my market stocks but this brings with it a modicum of patience, realizing that fixing this up effectively is beyond me.”

Ms Proodreader, who lives alone, said she is enjoying the interaction with virtual choirs and musicians sharing online.

“I’m mostly staying upbeat but I’m prone to little bursts of panic. I’m very much keeping away from all media….. especially social media…… as there is so much misinformation and I just need to know the basics not the analyses and the what ifs.”

Yeh I’m with Proodie on that one. There is a lot of misguided and possibly inaccurate information being spread on social media by people who should know better. The mainstream media is completely obsessed and helplessly looking for any new angle.

As for the free papers left in the letterbox – wash your hands after reading.

Postscript: You might enjoy Erin Sulman’s Apocalypse Playlist. If you do have a listen, track 30 is Warren Zevon’s Splendid Isolation. It was recorded live in Brisbane in 1992 – you can probably hear us and Prince Richard of the Village cheering.

Junk Drawer Quest For Missing Key

The small stuff autumn clean-up starts with a simple search of the junk drawer for a missing filing cabinet key. I recently shifted my office downstairs and in the shifting, all the things which were in places known to recent memory have been displaced. But it gives me a good chance to clear out what we call ‘the drawer of drawers’ – a small, deep drawer in which we throw stuff which has no particular home.

The first item in the junk drawer is an electronic button in a plastic pouch. I don’t remember what it is until squeezing it. A tune immediately begins to play, ‘Love Me Tender’, the A and B parts, faintly, reedily and slightly flat. Ah yes, that would be the satin sleep shorts from Valentine’s Day 1990-something. I surmise the idea was that one’s lover slides their hand inside the waistband (into which the button is sewn). You get the picture?

“Do you want to keep this?” I ask She Who Must Always Be Consulted.

“Aw sweet – I remember that…chuck it!”

The next items in the junk drawer are various jeweller’s screwdrivers, Allen keys and plugs you put in hardboard walls when you want to hang a picture. Then there are plastic bags full of assorted screws, nails and other wall attachments.

There are many batteries of various sizes. I set them aside to later test with the battery tester which must be in some other drawer.

Did I mention Blu-Tack? There is quite a bit of that, given our habit of posting music promo flyers all over town. I’m consolidating it into one packet clearly labelled Blu-Tack. You can see how insidiously a brand name worms its way into the language.

There are small padlocks (3) and padlock keys (7), none of which fit any padlock I can find thus far. There are 17 other keys which do not appear to have a match anywhere in the house. The old Camry key goes back quite a few vehicles. There are six plastic dimmer switch caps which became redundant last time the electrician was here.

“Do we really need to keep those?” I ask SWMABC (derisive snort).

At the bottom of the (empty) junk drawer, a tiny cockroach scrambles its way to liberty. I get the vacuum out and hoover up the cockroach grit in the bottom of the drawer. The remaining contents sit on the kitchen table awaiting re-distribution or disposal.

There’s a birthday candle, (5), which causes puzzlement until I realise there was also once a 6, which probably got thrown out after my landmark birthday. There’s a GetUp Action for Australia sticker which I just now stuck on my choir folder. There’s a Maleny Music Festival 2015 volunteer’s badge, a reminder to sign up for this year’s festival starting Friday 31^st of August (and score points for being a volunteer promoter).

There’s a ball of green twine (with a strip of Blu-Tack attached), an eraser, a Niagara Falls keyring and a recipe label for Palm Street Choko Chutney. There are also quite a few small butterfly spring clips.

“Most of this shit belongs in the office,” I yell down the hall.

“There’s too much shit in the office drawers already,” comes the rejoinder. “And don’t say shit in your column.”

Motivated, I take some Bank of Queensland coin bags and separate pins, nails, screws and ‘other fasteners’ then stow them in the shed.

Will get around to that one day too, I mutter, soto voce.

So then I get stuck into the office desk drawer. There’s two paper knives (never use them), several magnifying glasses (useful), two boxes of rubber bands and lots of address labels I can’t use anymore because, as I wrote in this blog last April, I stopped paying for a private mail box.

Having drawn a blank in both drawers, I rummage through the three-drawer plastic storage container on my desk, one of which is full of USB drives, each helpfully labelled with a key tag. Oh, yes, and one of these tags is attached to the missing filing cabinet key! ‘Incroyable’ as the French would so foppishly say.

The drawer or box full of USB drives is the scourge of 21^st century hoarders. Someone gives you one – “Oh you have to watch (bootlegged series)” and of course it is never returned. I still have my first USB drive, 256MB capacity (it cost $125). But if I tell you that you’ll think I’m a hoarder.

There’s a rarely-used Telstra internet dongle in this drawer, which gives me an angry hot flush when I think about Telstra’s plummeting share price, at $3.10 the lowest point since October 2011.

On Sunday I got onto Telstra’s ‘customer’ chat room to ask why it was that Telstra’s NRL app is charging data to my phone when it is supposed to be free. Incredibly, the customer service consultant told me her remit was for billing inquiries only so she’d have to transfer me to someone else. You know the story. I ended up on the ‘Crowd forum’, which is Telstra’s way of getting customers to solve their own irritating issues. A retired Telstra avatar suggested that perhaps I had not fully completed the installation process which links the NRL.com Live Pass to my mobile phone (very common, if you have the same issue – I could have told you that. Ed).

I know from reader research that 67% of you have no interest at all in rugby league, but I just want to say this one thing.

I remember when a TV reporter asked former Broncos captain Corey Parker what the Brisbane Broncos had to do to beat the Storm.

“Score more points,” was Corey’s laconic reply. He’s now a commentator with Fox Sports.

Miraculously, it seems, I feel freer and less anxious since (a) getting those unrelated issues off my chest and (b) completing the junk drawer declutter exercise.

But as happens with hoarders, the Love Me Tender button now sits on the office window sill, along with a strip of black and white negatives of uncertain provenance, a wooden frog with a fishing pole, a rabbit with one leg, a dumb-looking frog, a groovy ceramic frog with a dobro, a small concrete rabbit, a small pottery elephant, a pink piggybank, a faded postcard from Montreal, a weather station that needs a new battery and a lovely photo of SWMABC looking sweet and harmless. (Just goes to prove photos don’t always tell the truth. Ed)

There is one more item on the window sill – a chrome-plated star picket section, ‘The Winning Post’ (pictured left). It was a souvenir from the late George Stratigos, one of the few people in the world to ever sue BHP and win. I wrote (several) news stories in the 1980s about how it took Queensland Wire Industries six years to win a Trade Practices case over BHP’s refusal to sell Y-bar to QWI, which would allow it to make star pickets, thereby competing with a BHP subsidiary. After the High Court ruling, George had a batch of ‘Winning Posts’ cast and gave them to away to remind people how sometimes the little guy can win.

Call me sentimental, but I’m hanging on to the Winning Post, tarnished as it is by age and neglect. Like life itself, even.

FOMM back pages:

and another

Skip the small change

A week ago a patient teller at our local bank dealt with one of my occasional visits to deposit a bag of small change. Yes, I raided the piggy-bank again, and in case you don’t believe me, there it is (left), handed out free by Macquarie Goodman at the grand opening of the Metroplex on Gateway industrial estate at Murarrie in 1998.

Once I had a Bundaberg rum bottle filled to the lip with one cent coins. The label was signed by WA blues musician Matt Taylor, after Taylor’s band Chain performed at a venue managed by me and a team of volunteers. Matt signed “To (as yet-un-named son) – you ain’t even born yet.”

Later, when we were moving house, the rum bottle was accidently kicked over, smashing on the terracotta tiles, spilling 789 one cent coins across the floor. By this time the Reserve Bank had scrapped one cent coins and was working on ridding the country of two cent coins as well. The Royal Australian Mint removed one and two cent coins from circulation in 1991-1992. The Reserve Bank decided in 1990 that 1c and 2c coins had to go as inflation had rendered them worthless. Or to be more precise, the cost of minting them far outweighed their face value.

The Royal Australian Mint, however, has produced mint sets of one and two-cent coins for collectors in 1991, 2006 and 2010. I was surprised to read that one can still present one and two cent coins as legal tender and they can be banked. They can also be sold as collectables.

Trivia alert: Some of the small change was melted down to make the bronze medals presented to athletes at the 2000 Sydney Olympics.

Other countries abandoned their one and two cent coins around the same time, citing inflation and the increasing cost of bronze (an alloy of copper with minor amounts of tin and zinc). Ireland ditched its small coins last year, in line with six other Eurozone countries

The end result of axing 1c and 2c coins is a process called ‘rounding’ which means if something is priced at $1.98, you pay $2. If it costs $1.93, you pay $1.95. Who knows what the rounders will do when they scrap the five cent coin – and trust me – it is not far away.

One of the main arguments for doing away with five cent coins is the increasing use of pay wave for small transactions.

What can you buy with five cents anyway? The Northern Star newspaper based out of Lismore asked its readers just that. The answers included ‘lollies at some shops’, ‘20 five cent coins from the tooth fairy’, ‘lemons or limes at the fruit stall’ and my personal favourite – ‘the best things ever to scratch a scratchie’.

In 2014, a Senate Estimates Committee hearing was told the five cent coin cost 6c to manufacture (it’s now closer to 7c). The cost is partly due to the combination of copper and nickel, but also the labour involved in handling and distribution. Yet the 5c coin, with an echidna on one side and Queen Elizabeth on the other, it is still with us, weighing down pockets and purses, wearing holes in the lining of jackets and trousers, disappearing down the sides of sofas and car seats.

One way you can find creative uses for those pesky five cent coins is to donate them to charity. Agencies have been hoarding 1c and 2c coins for years, using the money collected for people in third-world countries. For the past 25 years they have been focusing on 5c coins.

The Sydney Morning Herald reported last December that Australian charity Y-GAP, Y-Generation Against Poverty organised a fundraising campaign which collected 10.9 million individual 5 cent coins.

Then there’s those foreign coins one inevitably brings home from abroad. My cache of foreign shrapnel includes $5.90 in New Zealand coins, a Kiwi $5 note and a one euro coin. If you’ve noticed, some airlines encourage you to deposit foreign coins in an envelope and leave it in the seat pocket of the aircraft as you disembark. Several charities collect these coins and use the proceeds for impoverished children. UNICEF, assisted by the Commonwealth Bank and BankWest, has amassed more than $260,000 in small change since 2009. Small amounts of First World cash go a long way in Africa or India. One UK penny will provide a child with clean drinking water for a day; two Canadian dollars (Loonies) can provide a malnourished child with enough therapeutic super food for one day; in India, 220 rupees (about $4) can buy someone a mosquito net.

The subject of money was being raised at one end of a long table in the local pub on Sunday where members of our community choir had adjourned after a performance. I was at one end of the table and two of the women at the other end were talking about the design of the new $5 note. I set my hearing aids to ‘noisy room’ but still their lips moved and no words came out.

“I’m sure it will make an excellent FOMM,” I shouted, “Once I figure out what you are talking about.”

It transpired they were adding to the dissent and disappointment over the design of the new $5 note. The anti-royalists jumped on to social media posting hastily photo-shopped memes. There are many versions of the $5 polymer note where the Queen’s image has been variously replaced with Tony Abbott eating an onion, Tony Abbott wearing cyclist’s sunnies, Dame Edna looking dashing, Kathy Freeman looking like an Olympic legend and a few odd ones like Pluck-a-Duck, Shane Warne, Delta Goodrem and a jar of Vegemite.

Why did we need a new $5 note at all, you might ask? This one has enhanced security, we’re told.

We have an international track record for that, did you know? Australia was the first country to produce polymer banknotes (in 1988), largely as a response to an increase in counterfeiting. Prior to the launch of polymer notes (created by the CSIRO, the Reserve Bank and Melbourne University), a group of enterprising lads from Melbourne made pretty good copies of the (paper) $10 note. The forgeries were so good some were still in circulation when polymer notes were first introduced.

The new $5 note has a clear plastic strip down the middle, apparently un-forgeable. It also has tactile features to help the vision impaired differentiate between a fifty and a five. The new note is the first of five denominations to be rolled out by Reserve Bank of Australia (at a total cost of $29 million) over the next few years.

Curious, I went to the bank yesterday, ready to trade 100 five cent coins for one of the new notes. Alas, our local teller said she had not spied one in our town and the local supermarket told me the same story. Apparently there’s still 34 million $5 notes in circulation. You will be relieved to know that I have extracted the only necessary fact from this Reserve Bank of Australia technical article about the life-cycle of banknotes: the median life of a $5 note is 2-3 years.

Good luck finding a new one, then.

Guarding the treasure trove

Buses Commonwealth Games 1982 Photo by Bob Wilson

There’s an archive box in the downstairs cupboard full of black and white negatives. There’s also a proof sheet of 24 photos, presumably from one of the 36 negative folders in the box. I can tell by examining the proof with an eyeglass they date from my years as a rural reporter/photographer in the Lockyer Valley, circa 1980s. There are other random photos, some with information on the back, like the photo (left) of Brisbane council buses waiting on Kessells Road to take punters home from the Commonwealth Games in 1982. Others are a complete guessing game.

Why the hell do I keep these, I ask myself every time the subject comes up: one, I don’t know anyone who has a darkroom; two, if I did, it would not be equipped to print black and white negatives; three, who really gives a fig?

We lapsed Methodists say ‘toss’ or ‘fig’ when we actually mean something more explicit, you know? But let’s look into this further, whether anyone gives a figgy toss.

The value of hoarding

The documentary Finding Vivian Maier is a stark reminder of the historic value of artistic expression and what could have been lost forever. Maier, an impoverished nanny with an obsessive passion for street photography, died in obscurity. But her legend lives on, thanks to the curiosity and hard work of US film-maker John Maloof.

Maloof pursued Maier’s work after buying a metal box full of negatives from a Chicago auction house in 2007. He set off on a quest to acquire Maier’s unpublished work; more than 100,000 negatives, 700 undeveloped rolls of colour film and many 8mm and 16mm movies. The entire collection has since been digitised so Maier’s work photographing people in the streets of New York and Chicago in the latter half of the 20^th century has come to the attention of a wider audience.

Meanwhile in Australia…

If you listen to Radio National, which some FOMM readers do on a daily basis, you may have heard Phillip Adams, historian Tim Sherratt and Peter FitzSimons talking about Trove. Journalists, writers, academics, historians and incurably curious people will know about Trove, the National Library of Australia’s digital archive. You have to sign up to get the best of the database, but it is free and 70,000 people dig into it every day.

The database contains over 473 million books, images, historic newspapers, maps, music, archives and more. But the ANL’s ability to keep up with the all-consuming job of digitising historic records is under threat. Budget cuts, or ‘efficiency dividends’ as PM Malcolm Turnbull is wont to call them, may stop Trove’s work in its tracks.

Adams pinpointed the key advantage of Trove is that historians spend less time searching for data and more time analysing.

“Trove has had a really profound impact on the nature of historical practice in Australia,” agreed Tim Sherratt, Associate Professor of Digital History at the University of Canberra

“All that stuff has always been there in dusty folders, but the revolution of Trove is to have it at your fingertips in two seconds flat. It’s a modern wonder”

Trove was launched in 2009 as a free archive resource and two years later won the Federal Government’s Excellence in eGovernment Award. The irony has apparently been lost on the Turnbull Government, which wants Australian cultural institutions to trim their budgets to save $20 million over four years. The NLA, the National Portrait Gallery, National Film and Sound Archive, and the National Gallery of Australia are among those which have to make some hard decisions.

Fairfax Media obtained a staff letter that said the NLA needed to find $4.4 million of savings by the end of 2017-2018. The Canberra Times said the letter warned that management would cease aggregating some Trove content unless fully funded to do so. Since we’re asking ‘who gives a toss,’ this story was picked up by a London newspaper.

If you’ve ever spent a day or two scanning old photos and documents to save as a permanent digital file, you will know what a labour-intensive job that is. But once it’s done, it’s done and so much easier for students and researchers.

For example, if you are a student or a writer on a mission to write about land rights in Australia, the NLA acquired the entire collection of Eddie Koiki Mabo’s personal papers in 1995.

There are many petitions, Facebook and Twitter campaigns circulating to convince the Minister for Communications and Arts, Senator Mitch Fifield, to #savetrove.

But getting back to who gives a figgy toss.

For all of the 70,000 visitors a day accessing Trove, there are another 21.06 million people who clearly do not feel the need to do so. Yet they benefit in a myriad of ways – tens of thousands of books, magazine articles, movies and TV and radio programmes generated each year which use Trove and other research resources.

If you go digging into the history of Vivien Maier, you’ll find she was a bit of a hoarder. Still, there’s bad hoarding and good hoarding, for example saving the Daily Sun’s film negative library for posterity.

The now-defunct newspaper’s laboriously pasted up paper files went to the tip, but luckily the images from a rare era of media independence in Brisbane (1982-1991) live on. Then there’s my kind of scattergun hoarding which yields images like this one, of a Toowoomba hail storm in the 1980s.

Toowoomba hail storm 1980s Photo by Bob Wilson

This might be a good time to point out that old photographs are not much use to anyone without relevant information written on the back. Like the photo in another box of a WWI regiment in front of an ivy covered building. I can identify my Grandfather front and centre, but that’s all I know.

Years from now, we’ll be grateful to the librarians, archivists and yes, hoarders, who helped save around 200 million newspaper articles and images, especially given the large numbers of publications which have closed their doors. I recently stumbled upon the Australian Newspaper History Group, curated by one of my former journalism lecturers, Rod Kirkpatrick, who has written six books about rural newspaper publishing. What is needed to save our information treasure trove (apart from government funding) is people like Kirkpatrick who care about history.

As for my own ‘trove,’ it has been winnowed out over the years, but there are still boxes full of colour prints (and negatives) and colour slides which need to be saved from the ravages of years in damp cupboards. I have scanned the best of the newspaper writing I did, but having digitised, still cannot bring myself to do a Charles Dickens and build a bonfire.

But hang on a bit. Perhaps we ageing baby boomers ought not to second-guess our kids and peremptorily throw out anything we perceive they would not want. When it comes to family photos, postcards, letters, articles, sentimental documents, all can be scanned and curated into media files.

Audio files and home movies can be compiled into a “best of” collection (good luck with that). Store it all on a portable hard drive and keep it in a metal box labelled: “The Best of Mum and Dad’s Memorabilia” (PG).

Someday your sons and daughters may be glad you did.