Henry Mayer's Port Moresby's Micro History: Coins, Rings & Trench Art
Here are examples of Aust siver and copper coins cut up to make rings (shown on right), bracelets and other handycrafts. I have read one account where boxes of silver coins were flown to moresby by the US authorities for "recreational purposes" as shown in pic.

At every site i have been to (air strips,hospitals camps etc) i have found these examples indicating the widespread practice it was. Some of the rings are also made out of alumn and the pic unfortunately cannot show the skill which has gone into the fashioning of some of these pieces.