Worried Australians add $50 notes to coronavirus stash

Worried Australians have added $50 notes to the items they are stockpiling during the coronavirus pandemic.

"Some people seem to be wanting to keep some extra money at home," Dr Lowe said on Friday. "We have met this extra demand despite our main storage vault being located in one of the coronavirus hotspots in Melbourne."The $50 is the note of choice for those keeping cash under the mattress, with 143 million more on issue in July than February. There are now $46.4 billion worth of "pineapples" around, compared to fewer than $40 billion at the start of the year.

The RBA pointed out bank note circulation was at record highs in 2018-19 despite a rise in consumers paying electronically. Over that year, the value of banknotes in circulation increased by 6 per cent to $80 billion, which was slightly above average.

Just put them next to the $100’s.

So logic, you spend so much time sleeping in quarantine you might as well get a comfy mattress full of $$$$

Um I would say it’s not stockpiling, I’d say people who’ve taken cash out have been told by businesses they need to use contactless card payments not cash during the pandemic so they’ve just held onto it 🤷🏼‍♀️

Should be putting some of that cash into gold or bitcoin 👍

5151mpk Trying to help out the (non-existant) gangs?

And yet all the academics and trendy people keep telling us that we don’t need or want cash anymore. Ppl have made their choice.

Um, who has money stashed? Who tf can afford to stash money?

How do they know that?

Which ones? Specifically? Asking for a friend

Or simply took cash out, found they couldn’t use it. This is why it’s $50.

Prep on!

This is what happens when government's don't address consumer confidence issues. It's really comforting to know our leaders are still stuck in the 1800's when it comes to money

Hey guys Aussies have a 💩 Ron if cash in their houses! Get robbing! What a waste of an article! 🤦🏻‍♂️

None under my mattress...

Lumpy beds all over town

Bunnings won't even take cash in Victoria. Which is the epicentre of the cash economy with the tradies. It must be a far bigger number than $10billion IMO.

Wonder what the crooks are doing with their cash with no means to launder it? 🧐

Money laundering?

I'd also recommend gold and silver 😁

Bless them.

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