Leslie Massey
The Australian $5 note has a rich history, undergoing several design changes since its first issue in 1967. Initially printed on paper, the note transitioned to polymer in 1992, introducing innovative security features. The latest iteration, released in 2016, features enhanced security and a design celebrating First Nations peoples, reflecting the country's diverse culture and history. With each update, the $5 note has played a pivotal role in shaping Australia's monetary system and showcasing its unique heritage.
| Characteristics | Values |
|---|---|
| First issued | 29 May 1967 |
| Colour | Mauve |
| Designer | Gordon Andrews |
| Artistic Advisor | Russell Drysdale |
| Portraits | Sir Joseph Banks, Caroline Chisholm, Queen Elizabeth II, Sir Henry Parkes, Catherine Helen Spence, King Charles III |
| Themes | First Nations history and cultures, storytelling, art and design, native animals, important landmarks, Connection to Country |
| Material | Polymer |
| Issued on | 1 September 2016 |
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What You'll Learn
The first Australian $5 note
The Australian $5 note was first issued on 29 May 1967, fifteen months after the currency was changed from the pound to the dollar on 14 February 1966. It was a new denomination with mauve colouration, as the pre-decimal system had no denomination with a value of £21⁄2. The first issue was a paper note with a gradient of mauve and a distinct black overprint. It was designed by Gordon Andrews, with Russell Drysdale as the Reserve Bank of Australia's artistic advisor. It featured portraits of Sir Joseph Banks and Caroline Chisholm, as well as elevations of Sydney streets from Joseph Fowles' "Sydney in 1848", the cover of the Shipping Gazette, a watercolour of the Waverley, and a handbill of a meeting of the Family Colonization Loan Society.
The first polymer version of the note was introduced on 7 July 1992. A number of people found it difficult to distinguish it from the $10 banknote, especially in poor lighting conditions. In 1995, a second polymer issue was released, distinguishable by its deeper shade of mauve and a different font for the numeral. The polymer issue included a shadow image of the Australian coat of arms, which is visible under other printing when the note is held up to the light, and a pointed star with four points on the obverse and three on the reverse.
On 1 January 2001, a federation commemorative $5 note was issued, featuring Sir Henry Parkes on the obverse and Catherine Helen Spence on the reverse. This was followed by another design update on 1 September 2016, with a minor update to the signatures in 2019. The 2016 update was the fourth polymer $5 banknote issued since 1992 and the first of a new series of banknotes that will feature a different species of Australian wattle and a native bird.
In 2023, the Reserve Bank of Australia announced that the new $5 note would not feature a portrait of King Charles III, but rather a design celebrating First Nations peoples. The new note will be the first to not feature a portrait of a person, although it will still bear the Australian federal parliament on the reverse side. The design will reflect the Aboriginal and Torres Strait Islander people's connection to the country and the overturning of terra nullius, a foundational moment in the fight for land rights. The artwork is intended to celebrate and respect the First Nations peoples' relationship with the land, sea, and waters, and to acknowledge their prioritisation of environmental sustainability.
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The move from paper to polymer
The Australian $5 note was first issued in 1967, a year after the currency changed from the Australian pound to the Australian dollar. The first issue was a paper note with a mauve gradient and a distinct black overprint. Designed by Gordon Andrews, it featured portraits of Sir Joseph Banks and Caroline Chisholm.
In 1992, the first polymer version of the note was introduced. This was the first issue of a new series of banknotes made from polymer, commencing with the $5 note. The new note featured a portrait of Queen Elizabeth II, drawn from photographs commissioned by the Reserve Bank in 1984. The polymer issue included a shadow image of the Australian coat of arms, which is visible under other printing when the note is held up to the light. The polymer note was also distinguishable by its pale mauve colouration and numeral font.
In 1995, a second polymer issue was created, with a deeper shade and a different font for the numeral. This version retained the portrait of Queen Elizabeth II, as well as eucalyptus leaves, and featured Parliament House on the reverse. A commemorative $5 polymer note was also issued in 2001, featuring Sir Henry Parkes on the obverse and Catherine Helen Spence on the reverse.
On 1 September 2016, a major design update was issued for the $5 polymer banknote, with a minor update to the signatures in 2019. The new design features a different species of Australian wattle and a native bird within its security features. It continues to retain the portrait of Queen Elizabeth II, drawn from the same source photograph as the first polymer note.
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Design and security features
The Australian $5 note has undergone several design changes since it was first issued in 1967. The original paper note had a mauve gradient with a distinct black overprint. It featured portraits of Sir Joseph Banks and Caroline Chisholm and was designed by Gordon Andrews.
The first polymer version of the $5 note was introduced in 1992, with a distinct mauve colouration and numeral font. This was followed by a second polymer issue in 1995, which had a deeper shade and a different font.
In 2001, a special commemorative 'Federation' $5 note was produced, featuring Sir Henry Parkes on the obverse and Catherine Helen Spence on the reverse. This note was issued for one year only.
The latest version of the $5 note was issued on 1 September 2016, with a major design update that included a portrait of Queen Elizabeth II, a sprig of eucalyptus, and the Old and New Parliament Houses. This note also features a number of security features to prevent counterfeiting, including a clear top-to-bottom window and specific species of Australian wattle and native birds. The Reserve Bank of Australia has announced that the new $5 note will not feature a portrait of King Charles III but will instead celebrate First Nations peoples.
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The people depicted on the note
The Australian $5 note has featured several prominent figures since its introduction in 1967. The first issue of the note was a paper note designed by Gordon Andrews, featuring portraits of Sir Joseph Banks and Caroline Chisholm.
From 1974 until the end of the issuance of paper currency for this denomination in 1992, the $5 note depicted Queen Elizabeth II, Queen of Australia at the time, on the obverse, along with eucalyptus (gum) leaves. The reverse featured Parliament House.
In 1995, a design update was made to the $5 note to match the rest of the New Banknote Series. This new design retained the portrait of Queen Elizabeth II, drawn from photographs commissioned by the Reserve Bank in 1984. The back of the note continued to feature the Old and New Parliament Houses.
In 2001, a special commemorative 'Federation' $5 note was issued for one year, featuring Sir Henry Parkes on the obverse and Catherine Helen Spence on the reverse.
On 1 September 2016, a major design update was issued for the $5 note, introducing a new series of security features, including a clear top-to-bottom window and specific species of Australian wattle and native birds. This note retained the portrait of Queen Elizabeth II, drawn from the same source photograph as the first polymer $5 note.
Following the death of Queen Elizabeth II, the Reserve Bank of Australia announced that the new $5 note, issued on 1 September 2016, would not feature a portrait but would instead celebrate First Nations peoples. The new design includes the Prickly Moses wattle and the Eastern Spinebill, along with the Federal Parliament House.
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The value of old $5 notes
The Australian $5 note has undergone several changes since its first issue on 29 May 1967. The original notes were paper and featured a mauve colour gradient with a distinct black overprint. Designed by Gordon Andrews, they depicted Sir Joseph Banks and Caroline Chisholm. From 1967 to 1974, the title identifying the country was the "Commonwealth of Australia", and 195,504,000 of these notes were issued.
The first polymer version of the $5 note was introduced on 7 July 1992, and a major design update was issued on 1 September 2016, with a minor update to the signatures in 2019. The 2016 update was the fourth polymer $5 banknote issued since 1992 and featured a different species of Australian wattle and a native bird. This new series of banknotes aimed to celebrate First Nations peoples, with a design chosen from over 2,100 submissions from the Australian public.
Although no longer in print, all previous notes of the Australian dollar are still considered legal tender. The value of old $5 notes varies depending on their condition and rarity. For example, notes in mint condition or with low serial numbers can be more valuable to collectors. The Coombs/Randall $5 note has the greatest value, having been issued for only two years, while the 1990 Fraser/Higgins note was issued for less than a year.
Collectors and dealers in Australian currency and coins can provide expert advice on the value of old $5 notes. Websites such as eBay Australia and Sterling Currency offer Australian $5 notes from various years for sale, with prices ranging from a few dollars to tens of thousands of dollars for rare notes in pristine condition.
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Frequently asked questions
The Australian $5 note was first made of paper when it was issued in 1967. However, since 1992, all Australian notes, including the $5 note, have been made of polymer.
The Australian $5 note was first issued with a mauve colouration and a distinct black overprint. The first polymer $5 note, issued in 1992, featured a portrait of Queen Elizabeth II on the front and the Old and New Parliament Houses on the back. The latest version of the $5 note, issued in 2016, features a different species of Australian wattle and a native bird as part of its security features.
The Australian $5 note was designed by Gordon Andrews, with Russell Drysdale as the Reserve Bank of Australia's artistic advisor.
