Damon Mcknight
Australia's banknotes are made from a type of plastic, or polymer, which makes them tough and durable. The Reserve Bank of Australia (RBA) is responsible for printing Australian money, and it does so through its wholly-owned subsidiary, Note Printing Australia Limited (NPA). NPA is based in Craigieburn, Victoria, and was the first printer in the world to issue a complete circulating currency note series on polymer substrate. The process of printing Australian money involves melting plastic pellets to form a clear plastic film, which is then cut into sheets and printed with white ink to allow other inks to adhere. This is also when the clear window in the banknote is formed. The sheets are then run through a press that prints on both sides simultaneously, ensuring that the images are perfectly aligned. The RBA maintains a contingency stock of banknotes to respond to surges in demand and seasonal fluctuations, and it also works to incorporate new security features to stay at the forefront of polymer note technology.
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What You'll Learn
The printing process
The sheets are then fed through a press that prints both sides simultaneously, ensuring the images are perfectly aligned. This is followed by the application of coloured ink, with magnets used to structure the pigments within the ink to create the desired colour effects on both sides of the note. The ink is then locked in place with a UV lamp.
An intaglio print is then applied to give the note texture and body, enhancing its security. Finally, the notes are bundled into packs of 100 and larger bundles of 1,000, with containers holding 100,000 notes sent out to banks.
Note Printing Australia (NPA), a subsidiary of the Reserve Bank of Australia (RBA), is responsible for this process. NPA was the first printer in the world to issue a complete circulating currency note series on polymer substrate, and it continues to lead the way in polymer technology. The RBA maintains a contingency stock of notes to respond to fluctuations in demand and has distributed about 10 million new $5 notes to banks across the country.
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The use of polymer
The sheets are then fed into a press that prints both sides simultaneously, ensuring perfect alignment of the images. This precision can be observed in the Federation Star image on the $50 note, where diamond-shaped patterns on each side combine to form a seven-pointed star when held up to the light. The use of polymer allows for the incorporation of advanced security features, such as intaglio printing, which gives the notes texture and helps with authentication. Additionally, the pigments within the ink are structured using magnets to create rolling colour effects, further enhancing the security of the notes.
Note Printing Australia Limited (NPA), a wholly-owned subsidiary of the Reserve Bank of Australia, played a pivotal role in the adoption of polymer technology. Collaborating with Securency Pty Ltd, a joint venture between the Reserve Bank and Innovia Films, NPA became the first printer in the world to issue a complete circulating currency note series on polymer substrate. Securency produces high-security polymer substrates by applying unique coatings and security features to specialised films supplied by Innovia. This technology has been exported to various countries, and Australia, along with New Zealand and Romania, has converted all its denominations to polymer.
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The cost of production
The cost of producing Australian money is not publicly available information, as the Reserve Bank of Australia (RBA) considers it commercial confidence. However, it is known that $37 million was spent on designing and testing the latest generation of Australian banknotes. Each note consists of 19 intricate layers, with measurements discussed in microns, or one-thousandth of a millimetre.
The RBA maintains a contingency stock of banknotes to promptly respond to surges in demand and seasonal fluctuations. For instance, during the global financial crisis, the heightened demand for banknotes resulted in the release of additional notes from the RBA's reserves. This strategy ensures that the RBA can smooth out demand without increasing printing operations.
The RBA's subsidiary, Note Printing Australia Limited (NPA), is responsible for producing currency notes for Australia and export. Based in Craigieburn, Victoria, NPA was the first printer globally to issue a complete circulating currency note series on polymer substrate. In 2005-2006, NPA produced 220 million notes for the RBA and 161 million export notes, continuing its high level of production from the previous year. NPA's export deliveries included orders for central banks in Malaysia, New Zealand, Papua New Guinea, and Nepal.
NPA's polymer notes are made from plastic pellets, which are melted down to create a bubble. This bubble is then transformed into a long, thin roll of clear plastic film by pressing the walls together and running it through a roller. After cooling, the film is cut into sheets and printed with white ink, which helps other colours adhere to the plastic. The clear window in the banknote is also formed at this stage. These sheets are then fed through a press that prints both sides simultaneously, ensuring perfect alignment of the images.
Additionally, advanced security features are incorporated into the notes, such as the intaglio print, which gives the notes a distinct texture and body that aids in authentication. The average banknote has a lifespan of about eight years before it needs to be replaced due to ink wear or damage.
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The role of Note Printing Australia
Note Printing Australia (NPA) is a wholly owned subsidiary of the Reserve Bank, which produces currency notes for Australia and other countries. It was the first printer in the world to issue a complete circulating currency note series on polymer substrate. Based in Craigieburn, Victoria, NPA has printed 51 denominations for 18 countries, including Australia.
NPA works closely with Securency Pty Ltd, which supplies print-ready polymer substrates. Securency is a joint venture between the Reserve Bank and Innovia Films, a global supplier of polypropylene films. Securency sells to NPA and other currency note printers overseas, high-security polymer substrates that it produces by applying unique coatings and security features to the specialised films supplied by Innovia.
During 2005/06, NPA produced 220 million notes for the Reserve Bank and 161 million export notes. Among the export deliveries were orders for Bank Negara Malaysia, the Reserve Bank of New Zealand, the Bank of Papua New Guinea, and Nepal Rastra Bank. NPA produced its four billionth polymer note in April 2006.
In addition to printing currency notes, NPA also produces passports for the Department of Foreign Affairs and Trade (DFAT) and the Federated States of Micronesia (FSM). The company has also been recognised for its sustainability efforts, with a focus on climate action and enhancing sustainability across its value chain.
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Security features
Australia's banknotes are made from a type of plastic, or polymer, which makes them tough and durable. The Reserve Bank of Australia (RBA) has a wholly owned subsidiary, Note Printing Australia Limited (NPA), based in Craigieburn, Victoria, which produces currency notes for Australia and other countries. NPA was the first printer in the world to issue a complete circulating currency note series on polymer substrate.
Polymer substrate is a secure alternative to paper. NPA has printed 51 denominations for 18 countries, including Australia. Australia, New Zealand and Romania have converted all their denominations to polymer.
The RBA has incorporated a large number of new security features, some of the most advanced in the world, into its banknote design. Each note is made up of 19 complex layers, with measurements discussed in microns (one-thousandth of a millimetre).
The banknotes are printed with a white ink first, which helps other inks stick to the plastic. A clear window is also formed in the banknote at this stage. Then, the sheets are printed on both sides simultaneously, so the images will always line up perfectly.
The intaglio print is applied on both sides of the note, giving it texture and body, which helps people authenticate the note.
To create the rolling colour effect, the way the pigments sit within the ink is structured using magnets, which are applied to the ink while it is still wet. The pigments are then locked in place with a UV lamp.
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Frequently asked questions
Australian banknotes are made from a type of plastic, or polymer. This is different from many other banknotes around the world, which are made from cotton or paper fibres.
It's a pretty constant process. The average banknote only lasts about eight years before the ink wears off or it becomes damaged and has to be replaced. However, some denominations wear out faster than others. For example, fives have a shorter life than 50s because they're treated more roughly.
Australian banknotes start out as plastic pellets, which are melted down and blown up into a huge bubble. The walls of the bubble are pressed together and run through a roller to form a long thin roll of clear plastic film. After cooling, this film is cut into sheets and printed with a white ink, which helps other ink stick to the plastic. Sheets are then run through a press that prints on both sides simultaneously, so the images will always line up perfectly.
