Lexi Webster
The Australian dollar has undergone several changes since its introduction in 1966, including the replacement of the $1 and $2 banknotes with coins in 1984 and 1988, respectively. The introduction of polymer banknotes in 1992 featured tactile elements like Braille dots for accessibility. Australia was the first country to adopt this technology, which has since been incorporated into all denominations. Today, the Australian dollar is legal tender in several external territories and is also the official currency in Kiribati, Nauru, and Tuvalu. With a rich history and ongoing evolution, the Australian dollar plays a significant role in the country's economy and culture, even featuring iconic figures like Ned Kelly and the Sydney Opera House on its $1 million note.
| Characteristics | Values |
|---|---|
| Introduction of Australian dollar | 14 February 1966 |
| Conversion rate | A$2 = £A1 |
| Replacement of $1 banknote | 1984 |
| Replacement of $2 banknote | 1988 |
| Introduction of $5 note | 1967 |
| Introduction of $50 note | 1973 |
| Introduction of $100 note | 1984 |
| Introduction of $5 polymer banknote | 1992 |
| Introduction of new $5 note | 1 September 2016 |
| Introduction of new $10 banknote | 20 September 2017 |
| Introduction of new $50 note | 18 October 2018 |
| Introduction of new $20 note | 9 October 2019 |
| Introduction of new $100 note | 29 October 2020 |
| Current status of $100 notes | No plans to release fourth series notes in denominations higher than $100 |
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What You'll Learn
How much gold is 1 million AUD worth?
As of September 10, 2025, 1 million Australian dollars is worth approximately 182.47 to 186.56 kilograms of gold, according to gold price data from Melbourne Gold Company. The value of gold fluctuates, and gold prices must be tracked in real-time to maintain accuracy.
Gold is often seen as a safe investment and a way to preserve wealth. It is a finite resource, and its value is not tied to economic conditions in the same way currencies are. Gold is also a highly liquid asset, meaning it can be easily converted into cash.
Gold is measured in troy ounces, with one troy ounce equalling 31.1034768 grams. Gold is also valued in terms of its purity, or carat rating. The higher the carat rating, the purer the gold. 24-karat gold is considered pure gold, while lower ratings indicate the presence of other metals or alloys.
In Australia, gold bullion, coins, and jewellery are popular ways to own gold. Bullion bars are a cost-effective way to invest in gold, while minted gold bars often feature serial numbers and tamper-proof packaging, providing added security and ease of sale. Gold coins are also a popular choice, with some coins featuring iconic Australian imagery.
The Australian dollar is the official currency of Australia, and it is the fifth most traded currency in the world. It was introduced in 1966, replacing the Australian pound. Australian banknotes are made from polymer, a type of plastic, and feature notable Australians and landmarks.
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What can you buy with 1 million AUD?
With 1 million Australian dollars, you can purchase a variety of items or assets. Here are some examples of what your money could buy:
Real Estate
In the current Australian market, 1 million AUD can buy a comfortable home in many parts of the country. Depending on your preferred location and property type, you could purchase a family home in a suburban area, an apartment in a desirable city location, or even a rural property with a substantial amount of land.
Luxury Items
If you're inclined towards luxury purchases, 1 million AUD can open up a range of options. You could buy high-end vehicles, such as premium cars or even recreational vehicles like boats or jet skis. Alternatively, you could invest in luxury fashion, accessories, or jewellery, purchasing designer items or rare pieces.
Travel and Experiences
With 1 million AUD, you can create unforgettable memories through travel and unique experiences. You could plan extensive trips around the world, staying in luxurious accommodations and indulging in exclusive tours and activities. From exploring exotic destinations to seeking out gourmet culinary experiences, your money can provide you with a wealth of experiences.
Investments
This substantial sum also presents an opportunity to invest. You could choose to invest in the stock market, diversifying your portfolio across various industries and asset classes. Alternatively, you could consider investing in businesses, either by starting your own enterprise or becoming a partner in an existing venture. Such investments could provide long-term financial stability and the potential for future wealth generation.
Philanthropy
Lastly, 1 million AUD can make a significant impact through charitable donations or philanthropic endeavours. You could support causes close to your heart, contribute to medical research, or fund initiatives that promote education, environmental sustainability, or community development. Your donation has the potential to create positive change and make a lasting difference in the lives of others.
These are just a few examples of the possibilities that 1 million Australian dollars can offer. Whether it's investing in assets, indulging in luxury items, creating memorable experiences, or making a positive impact through philanthropy, this sum of money can provide a wide range of opportunities.
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How many notes/coins are in 1 million AUD?
One million Australian dollars is a lot of money, and it would be quite a stack of notes! The breakdown of notes and coins would depend on the denominations you choose. Here is an example of what 1 million AUD could look like:
You could have 20,000 of the $50 notes. This is the highest-value note currently in circulation in Australia. Introduced in 1973, these notes feature a portrait of David Unaipon, an Aboriginal writer, preacher, and inventor on one side and Edith Cowan, the first female member of an Australian parliament, on the other.
If you prefer smaller denominations, you could opt for 100,000 of the $10 notes. These notes were first issued in 1984 and feature two of Australia's most famous writers, Banjo Paterson and Dame Mary Gilmore.
Perhaps you want a mix of denominations. In that case, you could have 50,000 of the $20 notes, featuring the First Parliament House on one side and Mary Reibey, an entrepreneur and philanthropist, on the other. To this, you can add 20,000 of the $50 notes and 10,000 of the $100 notes, which were introduced in 1984 and feature Sir John Monash, a renowned civil engineer and First World War general, and Dame Nellie Melba, a famous opera singer.
Of course, you could also include coins in your 1 million AUD. You could have 100,000 of the $10 notes and then add 400,000 $1 coins, which were introduced in 1984 and are often referred to as 'gold coins' in everyday Australian parlance. Alternatively, you could have 10,000 of the $100 notes and make up the rest with 900,000 $1 coins, giving you a total of 1 million AUD.
The possibilities are endless, but the result is always the same: 1 million AUD is a substantial sum, and it would take a lot of space to store it in cash form, whether in notes, coins, or a combination of both.
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How much space does 1 million AUD take up?
The space that 1 million AUD takes up depends on the denominations used. For example, it would take up far less space if it were all in $100 notes than if it were all in $5 notes.
The largest denomination of Australian currency is the $100 note. If you had 1 million AUD in $100 notes, you would have 10,000 individual notes. The dimensions of each note are 158 x 65 mm, or 6.22 x 2.56 inches. If you stacked the 10,000 notes on top of each other, the stack would be 65 meters tall, or about the height of a 20-story building. If you laid them out flat, the notes would cover about 416 square feet, or about the area of a small apartment.
If you had 1 million AUD in $50 notes, the next largest denomination, you would have 20,000 individual notes. Each note is 149 x 65 mm, or 5.87 x 2.56 inches. If you stacked the notes, the pile would be about 130 meters tall, or as tall as a 40-story building. Laid out flat, the notes would cover about 832 square feet, or about the area of a tennis court.
At the other end of the spectrum, if you had 1 million AUD in $5 notes, you would have 200,000 individual notes. Each note measures 130 x 65 mm, or 5.12 x 2.56 inches. The stack of notes would be about 650 meters tall, which is over twice the height of the Empire State Building. Laid out flat, the notes would cover about 4,166 square feet, or about the area of a basketball court.
Of course, in practice, most people would not keep 1 million AUD in a single denomination. Most likely, they would have a mix of notes, which would take up a range of space somewhere between the extremes described above.
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How much does 1 million AUD weigh?
The weight of 1 million AUD will depend on the denominations used. As of 2023, Australian banknotes are made from polymer and come in $5, $10, $20, $50, and $100 denominations. The $1 and $2 denominations have been replaced by coins.
Assuming the use of $100 bills, 1 million AUD would weigh around 10 kilograms or 22.046 pounds. If you prefer smaller denominations, such as $50 notes, the weight would double to 20 kilograms or 44.092 pounds.
For a more dramatic visualisation, let's consider the weight of 1 million AUD in coins. Using the US Mint as a guide, a quarter coin weighs approximately 5.7 grams. Applying this weight, 1 million AUD in quarters would result in a colossal weight of 22.68 metric tons or 22,680 kilograms. This enormous weight is equivalent to 50,000.841 pounds.
To put it into perspective, choosing different denominations of AUD can significantly impact the weight of your million dollars. While $100 bills offer a more manageable weight, opting for smaller denominations or even coins will substantially increase the overall mass.
It's worth noting that the Reserve Bank of Australia has no plans to introduce denominations higher than the $100 note, despite inflationary pressures.
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