What does Tuvalu mean on coins?

What does Tuvalu mean on coins?

The Tuvaluan dollar is the currency of Tuvalu, whose unofficial international currency code is TVD. Tuvalu has never had banknotes of its own, and has been issuing coins since 1976. However, the Tuvaluan dollar is used as a unit of account, and is pegged to the Australian dollar at parity.

Where are Tuvalu coins minted?

The Perth Mint in Western Australia produces some very interesting silver proof collector coins on behalf of Tuvalu that enable this small country that is part of the British Commonwealth to gain revenue from the licensing of its name.

How do people on Tuvalu make money?

Fishing resources The Tuvaluan economy, therefore, relies heavily on its fishing income, with 42% of the Tuvaluan population involved in fishing activity at various levels.

Why are Perth Mint coins Tuvalu?

Tuvalu’s coins are designed, crafted and marketed in Australia as part of a decades-old agreement between The Perth Mint — a company owned by the Western Australian Government — and Tuvalu. As part of the deal, Tuvalu receives a minimum of about $200,000 per year in royalties.

Why does Tuvalu use the Australian dollar?

The Tuvalu dollar is pegged at a 1-1 parity with the Australian Dollar. Tuvalu does not in fact print its own banknotes though. This means that the Tuvalu Dollar is merely used as a unit of account for international trade, therefore the Australian Dollar is the de facto currency of the country.

Is Tuvalu poor or rich?

Tuvalu is the fourth most impoverished nation in the world, but it is important to look at this South Pacific island nation from a different perspective. If one measures poverty in terms of income level, then they will measure Tuvalu in a much bleaker light than what is appropriate.

Where is the Scottsdale Mint?

Scottsdale mint is located in Arizona and was founded in 2009 by Josh Phair as a Worldwide Manufacturer for the Highest quality silver and gold bullion.