Lexi Webster
Australian currency is called the Australian dollar (AUD), which comes in polymer (plastic) notes of $5, $10, $20, $50, and $100. Australian coins are produced by the Royal Australian Mint in Canberra and come in denominations of 5, 10, 20, and 50 cents, as well as $1 and $2. The Australian dollar was introduced in 1966, replacing the Australian pound, which was previously divided into 240 pence or 20 shillings. Today, Australian banknotes are coloured and feature advanced security elements, such as transparent windows with diffractive optically variable device (DOVD) images, microprinting, and multi-coloured patterns.
| Characteristics | Values |
|---|---|
| Currency | Australian dollar (AUD) |
| Denominations | $5, $10, $20, $50, and $100 notes; 5, 10, 20, and 50-cent coins; $1 and $2 coins |
| Composition | Polymer (plastic) notes; bronze, cupronickel, silver, and aluminium bronze coins |
| Security Features | Transparent window with a diffractive optically variable device (DOVD) image; microprinting; holograms |
| Design | Portraits of influential Australians; images of horses; excerpts from poems; Australian Coat of Arms; special Australian designs |
| Production | Notes printed by the Reserve Bank of Australia; coins produced by the Royal Australian Mint in Canberra |
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What You'll Learn
Australian coins
In 1966, coins were introduced in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel); and 50 cents (silver, then cupronickel). The 50-cent coins in 80% silver were no longer minted after March 1968 due to the intrinsic value of the silver content rising to exceed the face value of the coins. Aluminium bronze (92% copper, 6% aluminium, 2% nickel) 1-dollar coins were introduced in 1984, followed by aluminium bronze 2-dollar coins in 1988, to replace the banknotes of that value. In everyday Australian parlance, these coins are collectively referred to as "gold coins". The 1 and 2 cent coins were discontinued in 1991 and withdrawn from circulation in 1992; since then, cash transactions have been rounded to the nearest 5 cents.
Each Australian coin has a heads side and a tails side. The heads side had a picture of Queen Elizabeth II and the year it was made. Newer coins will have a picture of King Charles III. The tails side has a special Australian design and shows the amount that the coin is worth. Each coin has a different design and size, so they can be easily differentiated by touch. The 50-cent coin, for example, has 12 flat sides around its edge.
The Royal Australian Mint regularly releases commemorative coins that are collectable and legal tender. Commemorative coins have been produced for various denominations in different years, with imagery representing an event replacing the usual design on the reverse side of the coin.
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Australian notes
Australian banknotes are available in denominations of $5, $10, $20, $50, and $100. The $1 and $2 banknotes were replaced by coins in 1984 and 1988, respectively. Australian notes are made from polymer (plastic) and include several security features, such as a transparent "window" with a diffractive optically variable device (DOVD) image, microprinting, and multi-coloured and multi-directional patterns of fine lines.
The $5 note features a stylised gum flower inside the clear window and an interpretation of one of the first pedal-powered generators used to operate transceiver wireless sets in outback stations. When held up to the light, a seven-pointed star within a circle is formed by the combination of four points on one side and three points on the other.
The $10 note includes excerpts from poems by AB 'Banjo' Paterson and Dame Mary Gilmore, as well as a stylised windmill and an embossed wave pattern inside the clear window. Holding the note up to the light reveals a faint image of the Australian Coat of Arms.
The $20 banknote features a compass and the number '20' embossed inside the clear window. Like the $5 and $10 notes, holding the $20 note up to the light also reveals a seven-pointed star within a circle formed by the combination of four and three points on opposite sides of the note.
The $50 note includes microprinted text that reads "FIFTY DOLLARS" and features the Southern Cross and the number '50' inside the clear window. Similarly, the Australian Coat of Arms can be faintly seen when the note is held up to the light.
The Reserve Bank of Australia is responsible for printing Australian notes, and the country's currency is known as the Australian dollar (AUD). In 2023, there was approximately A$101.3 billion in notes of Australian currency in circulation.
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Australian dollar history
The Australian dollar (AUD) was introduced as a decimal currency on 14 February 1966, replacing the non-decimal Australian pound at a conversion rate of two dollars to the pound (£A1 = A$2). It is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
Before the Australian dollar, the Australian pound (£A) was introduced in 1910, at par with the pound sterling (£A1 = £1 UK). In December 1931, the Australian currency was devalued by 25%, so £A1 was now equivalent to £1 and 5 shillings in the UK. During World War II, Japan produced currency notes denominated in the Australian pound for use in Pacific countries intended for occupation. These notes were used in captured parts of the then-Australian territories of Papua and New Guinea.
In 1966, coins were introduced in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel); and 50 cents (silver, then cupronickel). The 50-cent silver coins were discontinued in 1968 due to the intrinsic value of the silver content rising above the face value of the coins. Aluminium bronze £A1 coins were introduced in 1984, followed by £A2 coins in 1988, replacing the banknotes of that value. £A1 and £A2 coins were discontinued in 1991 and withdrawn from circulation in 1992.
The Australian dollar has gone through several changes in its history. In 1974, the title on the notes was changed to simply "Australia", and the legal tender phrase was updated to "This Australian Note is legal tender throughout Australia and its territories". The £A50 note was introduced in 1973, and the £A100 note in 1984, in response to inflation. In 1988, the Reserve Bank of Australia issued £A10 notes in plastic, becoming the first in the world to use polymer notes. Today, all Australian notes are made of polymer and feature a range of security features, including microprinting and transparent "windows" with diffractive optically variable device (DOVD) images.
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Security features
Australian banknotes are printed on polymer, a type of plastic, and have a distinctive feel. This makes them harder to counterfeit. The polymer also allows for a range of security features that can be used to check the banknote's authenticity.
One such security feature is the clear window, which should be an integral part of the banknote and not an addition. The window should not look like it has been stuck or joined on. It should be clear and not cloudy. There is a white image printed on the window, which should not be easily rubbed off. The $10 banknote has a wave pattern in the window, while the $20, $50, and $100 banknotes have their respective values printed. The $5 banknote does not have any embossing in its window.
Diamond-shaped patterns are printed inside a circle on both sides of a banknote. When held up to the light, these patterns should line up perfectly to form a seven-pointed star within the circle. At the same time, the shadow image of the Australian Coat of Arms should be visible.
The serial numbers of Australian banknotes should fluoresce under ultraviolet light. Rectangular patches showing the value become visible on the $20, $50, and $100 banknotes, while a square patch appears on the $5 banknote.
Additionally, Australian banknotes are designed to return to their original shape after being scrunched up. This is another feature that distinguishes them from counterfeits, which are typically printed on paper and can be easily torn or crumpled.
The Reserve Bank of Australia has introduced new banknotes with innovative security features, such as a top-to-bottom window with a moving image and a colour-changing patch. These features, along with tactile elements to assist the visually impaired, further enhance the security of Australian currency.
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Australian dollar denominations
The Australian dollar (AUD) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. It was introduced as a decimal currency on 14 February 1966, replacing the non-decimal Australian pound. The $ symbol precedes the amount.
The first paper issues of the Australian dollar were issued in 1966 in denominations of $1, $2, $10, and $20. The $5 note was circulated in 1967, followed by the $50 note in 1973, and the $100 note in 1984. The $1 and $2 banknotes were replaced by smaller $1 and $2 coins in 1984 and 1988, respectively.
Currently, denominations of $5, $10, $20, $50, and $100 AUD notes are in circulation. Australian coins in use include $1 and $2, as well as 5, 10, 20, and 50-cent coins. The 1 and 2-cent coins were discontinued in 1991 and withdrawn from circulation in 1992, with cash transactions now rounded to the nearest 5 cents.
The Royal Australian Mint produces the coins, while the Reserve Bank of Australia prints the notes. Each Australian coin has a heads side and a tails side. The heads side features a portrait of Queen Elizabeth II (newer coins will feature King Charles III), while the tails side showcases a unique Australian design indicating the coin's value. The 50-cent coin has 12 flat sides and is one of the largest coins used globally.
Australia was the first country to produce and use polymer banknotes, made of polypropylene polymer. These notes feature a transparent "window" with a diffractive optically variable device (DOVD) image as a security feature. All Australian notes currently in circulation are polymer notes.
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Frequently asked questions
Australian cash comes in both coins and notes. The coins are made of materials such as bronze, cupronickel, silver, and aluminium bronze, and come in denominations of 5, 10, 20, and 50 cents, as well as $1 and $2. The notes are made of polymer (plastic) and come in denominations of $5, $10, $20, $50, and $100.
Australian banknotes were the first in the world to have a transparent "window" with a diffractive optically variable device (DOVD) image. This image, featuring Captain James Cook, can be found on all current notes. All notes also contain microprinting for further security. Additionally, when held up to the light, a faint image of the Australian Coat of Arms can be seen on all genuine banknotes.
The heads side of Australian coins features a portrait of Queen Elizabeth II, with newer coins featuring King Charles III. The tails side features a unique Australian design that indicates the coin's value. Australian banknotes feature a range of notable Australians, including AB 'Banjo' Paterson, Dame Mary Gilmore, and David Unaipon.
