Lexi Webster
Australia's banknotes are made from a type of plastic, or polymer, which makes them tough and durable. They are printed by Note Printing Australia Limited (NPA) in Victoria, which has been a subsidiary of the Reserve Bank of Australia since 1998. The NPA site is guarded by armed forces and high-security fencing. The Royal Australian Mint makes 120-140 million coins per year, with each coin costing less to make than its value. Coins are designed by engineers and coin designers, then sculpted into a 3D model. Blanks are fed through the presses, where they are struck on both sides by dies. The Mint's future is uncertain, as metal prices are rising, and Australia is investigating a digital currency.
| Characteristics | Values |
|---|---|
| Material | Australian banknotes are made from a type of plastic or polymer |
| Printing | Banknotes are printed by Note Printing Australia Limited (NPA) on sheets of polymer substrate |
| Security features | Banknotes have clear top-to-bottom windows, microprinting, UV fluorescent features, and multi-coloured and multi-directional fine-line patterns |
| Cost | It costs 20 cents to make a $2 coin and 32 cents to make a $100 note |
| Production | The Royal Australian Mint makes 120-140 million coins per year |
| Threats | Decreased cash usage and soaring metal prices threaten the profitability of minting coins |
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What You'll Learn
- Coins are sculpted using plaster modelling tools or 3D modelling software
- Dies strike coins with up to 200 tonnes of pressure, creating grooves around their edges
- Banknotes are printed on polymer, a type of plastic, which makes them tough and durable
- Security features include microprinting, UV fluorescence, and a three-dimensional image with a colourful border
- The cost of making coins and banknotes is rising due to increasing metal prices
Coins are sculpted using plaster modelling tools or 3D modelling software
The Royal Australian Mint's product developers, coin designers, and engineers work together to create a design that will translate well onto a coin. After the design is approved, a three-dimensional model is sculpted using plaster modelling tools or 3D modelling software. The coin designer spends a significant amount of time refining the model's details to ensure that the final product is of the highest quality. This process can take up to a year to complete.
The traditional method involves sculpting the coin design using plaster modelling tools. This hands-on approach allows the designer to refine the details and ensure the design's quality. On the other hand, 3D modelling software offers a more modern approach to coin sculpting. It provides a digital platform for designers to create intricate and precise designs.
The 3D modelling software method offers several advantages. Firstly, it allows for greater precision and detail in the design. With this technology, designers can create complex and intricate patterns that would be challenging to achieve with traditional plaster modelling tools. Secondly, 3D modelling software provides a faster and more efficient workflow. Designers can easily make changes and adjustments to the design, reducing the time needed for prototyping and refining.
Once the 3D model is complete, a milling machine is used to create a synthetic model with a diameter of approximately 20 cm. This physical model serves as a prototype for the actual coin production. It is an essential step in ensuring that the final coins meet the required standards and specifications.
After the synthetic model is created, the coin design is transferred to tool steel using a computer-controlled engraving machine, resulting in what is known as a reduction punch or die. The reduction die contains a positive or raised impression of the complete coin design. The finishing touches are then applied by a master engraver, who refines the contours and fillet work, ensuring the highest level of detail and precision.
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Dies strike coins with up to 200 tonnes of pressure, creating grooves around their edges
The Royal Australian Mint strikes coins with up to 200 tonnes of pressure, creating distinctive grooves around their edges. This process, known as coining, involves feeding blank metal pieces through presses, where they are struck on both sides by dies. The dies are installed in the coin presses by the Mint's Fitters and Machinists, who can set up the presses to produce different denominations. The dies strike the blanks with immense force, causing the metal particles to spread and stretch, resulting in the formation of a sharper rim and the characteristic grooves on the coin's edge. This phenomenon occurs as the edge of the coin takes on the serration pattern from the press's collar.
The blanks used for minting undergo several preparatory processes. They are rolled through specially-shaped grooves, resulting in a raised edge that assists in the coining operation. Additionally, the blanks are softened through annealing, a process involving controlled heating in a furnace. To ensure a smooth surface, the blanks undergo pickling in a hot acid bath, followed by burnishing, where they are spun in a large drum with tiny ball bearings that polish the metal.
The Royal Australian Mint produces an impressive 120 to 140 million coins annually, with the potential to reach 175 million, as seen during the COVID-induced increase in cash demand. The cost of producing these coins varies, with a 50-cent coin costing around 15 cents to make, while a $2 coin previously cost 20 cents, though metal price fluctuations have impacted this. The Mint also incurs losses on certain coins, such as the 5-cent piece, which costs over 12 cents to produce due to rising metal prices.
The minting process begins with a design brief, where product developers, coin designers, and engineers collaborate to create an image suitable for a coin. Once the design is approved, a three-dimensional model is sculpted using traditional plaster modelling or 3D modelling software. This model is then used to create a master tool, which forms the basis for the manufacturing process. The coin design is directly engraved into tool steel using a computer-controlled machine, resulting in a reduction punch that contains a raised impression of the coin's design.
The Royal Australian Mint's uncirculated coin press is highly efficient, capable of producing up to 80 coins per minute or 20,000 coins per day. On the other hand, proof coins, which undergo a more intensive process, are struck 4 to 6 times each and are made in presses with pressures ranging from 180 to 360 tonnes. These proof coins are individually packaged and distributed to the Mint's onsite shop, eShop, or authorised dealers.
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Banknotes are printed on polymer, a type of plastic, which makes them tough and durable
Australian banknotes are printed on sheets of polymer substrate, a type of plastic, which makes them tough and durable. The process begins with plastic pellets, which are melted and blown into a three-storey bubble. This film is then cut into sheets of polymer, with different-sized sheets used for different denominations. The first printing process involves printing the background colours and patterns onto both sides of the polymer sheets simultaneously. Special inks are used to make the film opaque, except for certain areas which are left free of ink to create the clear windows.
The second printing process involves transferring ink to the sheets under great pressure using engraved metal plates. This creates raised print, which is one of the important security features of Australian polymer banknotes. Some of the microprinting and embossed features are also produced during this stage. Serial numbers are then added using a letterpress printing process.
A protective overcoating ink is applied to the banknotes using an offset printing press, which contributes to the extended durability and cleanliness of the polymer banknotes. This overcoating is also used to apply a tactile feature to assist the vision-impaired community in identifying different denominations.
The use of polymer substrate in Australian banknotes makes them distinctive and durable. This plastic material gives the banknotes a unique feel, and they are designed to return to their original shape after being scrunched up. The polymer substrate also allows for the incorporation of advanced security features, such as clear top-to-bottom windows with three-dimensional images, microprinting, and UV fluorescent elements. These features make Australian banknotes much harder for criminals to counterfeit.
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Security features include microprinting, UV fluorescence, and a three-dimensional image with a colourful border
Australia's banknotes are printed by Note Printing Australia Limited (NPA), located on a 26-hectare site in Craigieburn, Victoria. The NPA site is guarded by armed security, high-security perimeter fencing, and sophisticated electronic security and surveillance devices.
Australian banknotes are printed on sheets of polymer substrate, which are made from plastic pellets. These pellets are melted and blown into a three-storey bubble. The printing process involves transferring ink onto the sheets using engraved metal plates, with separate print runs for each side of the sheet.
The security features of Australia's banknotes include microprinting, UV fluorescence, and a three-dimensional image with a colourful border. Microprinting, or tiny, clearly defined text, can be found in multiple locations on the banknote, and is usually readable only with a magnifying glass. Certain elements, such as a bird, the serial number, and the year of print, fluoresce under UV light, appearing in different colours. The three-dimensional image can be seen by tilting the banknote, and it includes a colourful border with a raised or recessed effect.
In addition to these features, Australia's polymer banknotes also have a tactile feature, which assists the vision-impaired community in identifying different denominations. This feature consists of raised bumps on the long edges of the banknote next to the top-to-bottom window. The window itself is another security feature, with a rolling colour effect and intricate details that cannot be easily replicated.
The Royal Australian Mint, which produces Australia's coins, also incorporates security features into its minting process. For example, blanks (usually round in shape) are rolled through a groove to create a raised edge, which helps form the rim and adds security through its distinct shape. The Mint produces an extraordinary 120 to 140 million coins per year, with each coin costing less to produce than its face value.
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The cost of making coins and banknotes is rising due to increasing metal prices
Australia's banknotes are made from a type of plastic, or polymer, which makes them tough and durable. They are printed by Note Printing Australia Limited (NPA), a subsidiary of the Reserve Bank of Australia, at a facility in Craigieburn, Victoria. The process involves printing on sheets of polymer substrate using various printing plates, processes, machines, and inks. The polymer substrate is created by melting plastic pellets and blowing them into a three-storey bubble. This results in distinctive features such as the clear top-to-bottom window and a tactile feature for the vision-impaired community.
The Royal Australian Mint, on the other hand, produces coins through a minting process that begins with an initial design brief. Once the design is approved, a three-dimensional model is sculpted using traditional plaster modelling or 3D modelling software. The coin design is then cut directly into tool steel using a computer-controlled engraving machine, creating a reduction punch with a raised impression of the coin design. Blanks, which are usually round, are fed through the presses and struck by dies, resulting in the sharp rims and grooves seen on coins.
While the cost of producing banknotes and coins has traditionally been low, with a $2 coin costing 20 cents to make, rising metal prices are increasing production costs. For example, the Mint chief executive revealed that it now costs over 12 cents to make a five-cent piece, and even 20-cent coins are approaching a production cost that exceeds their face value due to soaring nickel prices. This trend of increasing metal prices poses a significant challenge to the profitability of producing coins, especially as Australia moves towards a cashless society, with people using less cash in transactions and the Mint producing fewer coins.
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Frequently asked questions
Australian banknotes are made from a type of plastic, or polymer, which makes them tough and durable.
The minting process begins with an initial design brief. The Royal Australian Mint’s product developers collaborate with the coin designers and engineers to create an image that will translate well onto a coin. Once the design is approved, a three-dimensional model is sculpted. The blanks are then fed through the presses, where they are struck on both sides simultaneously by dies.
It costs 20 cents to make a $2 coin, 15 cents to make a 50-cent coin, and north of 12 cents to make a five-cent piece.
It costs 32 cents to make a $100 note.
Australia's banknotes are printed by Note Printing Australia Limited (NPA), which is located on a 26-hectare site at Craigieburn, Victoria, 25 kilometres north of Melbourne.
