EXPLANATORY STATEMENT

Issued by authority of the Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing

Currency Act 1965

Currency (Australian Coins) Amendment (2021 Perth Mint No. 5) Determination 2021

Subsection 13(2) and section 13A of the Currency Act 1965 (the Act) provide that the Treasurer may, by legislative instrument, determine details of Australian coin characteristics including denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions.

The purpose of this legislative instrument is to determine the characteristics of 17 new non-circulating coins proposed to be issued by The Perth Mint and to make technical amendments to ensure the Determination operates as intended.

The Treasurer may authorise the making and issuing of coins specified, or taken to be specified, in the Schedule to the Currency Act 1965.  A payment of money is legal tender if it is made in coins that are made and issued under the Currency Act 1965.  Through the issue of a currency determination, the Treasurer can add, remove and alter the coin characteristics specified, or taken to be specified, in the Schedule to the Currency Act 1965.

In accordance with section 19 of the Acts Interpretations Act 1901, any Minister in the Treasury portfolio may, by legislative instrument, determine details of Australian coin characteristics.

Details of the legislative instrument are set out in the Attachment.

The legislative instrument commenced on the day after it was registered on the Federal Register of Legislation.

The legislative instrument is subject to disallowance under section 42 of the Legislation Act 2003.

The Determination is a legislative instrument for the purposes of the Legislation Act 2003. The Determination is not subject to sunsetting under the Legislation Act 2003 on the grounds that the instrument ensures economic certainty (see Legislation (Exemptions and Other Matters) Regulation 2015). The instrument’s operation is integral in ensuring that the currency produced by the Mints becomes, and remains, legal tender unless or until returned to a mint to be taken out of circulation in accordance with the Currency Act 1965.

Consultation

The Perth Mint undertook consultation among its network of Australian and international wholesale distributors.  Authorised Australian distributors of The Perth Mint products are consulted regularly during business meetings and participation at the Australian Numismatic Dealers’ Association Coin, Banknote and Stamp shows.  Likewise, international distributors were consulted during a schedule of individual meetings hosted during the World Money Fair held in Berlin and the American Numismatic Association’s World’s Fair of Money.

Limited consultation was conducted with external parties due to the confidentiality of coin themes and artwork, due to the risk of competitors viewing the innovations and potentially releasing similar coins into the market prior to the release.

Members of the public have the opportunity to contact The Perth Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and presented to The Perth Mint’s sales and marketing department for consideration and feedback.

Statement of Compatibility with Human Rights

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

Currency (Australian Coins) Amendment (2021 Perth Mint No. 5) Determination 2021

This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

Overview of the Legislative Instrument

The purpose of this legislative instrument is to determine the characteristics of 17 new non-circulating coins proposed to be issued by The Perth Mint and to make technical amendments to ensure the Determination operates as intended.

Human rights implications

This Legislative Instrument does not engage any of the applicable rights or freedoms.

Conclusion

This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.

ATTACHMENT

Details of the Currency (Australian Coins) Amendment (2021 Perth Mint No. 5) Determination 2021

Section 1 – Name of the Determination

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2021 Perth Mint No. 5) Determination 2021.

Section 2 – Commencement

This section prescribes that the Determination commences the day after the Determination is registered.

Section 3 – Authority

This section provides that the Determination is made under the Currency Act 1965.

Section 4 – Schedule

This section provides that each instrument that is specified in the Schedule to this Determination will be amended or repealed as set out in this Schedule.

Schedule 1 – Amendments

The Schedule amends the Currency (Australian Coins) Determination 2019 by adding new coin specifications to Part 2 of Schedule 2021. The newly determined coin characteristics are set out below.

$1 2022 13.5g Base Metal ANZAC Day Coin

The design on the $1 2022 13.5g base metal ANZAC Day coin consists of, in the foreground, the stylised rear view of a soldier standing on a representation of Kokoda Trail. In the background is a representation of rough terrain and a line of soldiers walking downwards in single file along the representation of the Kokoda Trail. On the horizon, in the distance, are stylised mountains with a representation of a flame of remembrance, partially obscuring the mountains, in the top-centre. The design includes the following inscriptions: “25 APRIL”; “LEST WE FORGET”; “LB” (being the initials of the designer Lucas Bowers); and the letter “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II” and “AUSTRALIA” and the inscription, in Arabic numerals, of a year, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$2,500 2022 10oz Gold Jewelled Koi Fish Coin

The design on the $2,500 2022 10oz gold jewelled koi fish coin consist of a stylised representation of lotus flowers and water ripples in the background. The water ripples are partially obscured by a stylised representation of two koi fish as an attached piece, with inset diamonds. The design includes the following inscriptions: “THE JEWELLED KOI”; the Chinese language characters (錦鯉) pronounced jǐn lǐ under the Pinyin system and meaning koi fish; “JM” (being the initials of the designer Jennifer McKenna); and the letter “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, “Xoz 9999 GOLD” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals),  and the inscription, in Arabic numerals, of a year, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$100 2023 1oz Gold Kangaroo Coin

The design on the $100 2023 1oz gold kangaroo coin consists of a partial circle enclosing a representation of a kangaroo in the foreground, with a tree, grass trees and shrubs in the background. The design includes the following inscriptions: “KANGAROO”; “Xoz 9999 GOLD” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); the inscription, in Arabic numerals, of a year; “IJ” (being the initials of the designer Ing Ing Jong); the letter “P” and a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

 $1 2023 1oz Silver Koala Coin

The design on the $1 2023 1oz silver koala coin consists of a partial circle enclosing a representation of a koala climbing a tree with a joey on its back. Surrounding the koalas are leaves, attached to the tree, partially obscured by the koala. The design includes the following inscriptions: “KOALA”; the inscription, in Arabic numerals, of a year; “Xoz 9999 SILVER” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); “IJ” (being the initials of the designer Ing Ing Jong); the letter “P” and a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

$1 2023 1oz Silver Kookaburra Coin

The design on the $1 2023 1oz silver kookaburra coin consists of a partial circle enclosing a representation of two kookaburras perched on separate tree branches, surrounded by waratah flowers. The design includes the following inscriptions: “KOOKABURRA”; “Xoz 9999 SILVER” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); the inscription, in Arabic numerals, of a year; “WR” (being the initials of the designer Wade Robinson); the letter “P” and a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

$2 2022 2oz Silver Mother & Baby Dingo Piedfort Coin

$10 2022 10oz Silver Mother & Baby Dingo Piedfort Coin

The design on the 2022 silver mother & baby dingo piedfort coins consists of, in the foreground, a representation of a dingo facing its pup as both are sitting. There are representations of plants, grass and rocky ground in the background, and partially obscured, by the pair. In the background is a pattern of radial lines. The design includes the following inscriptions: “AH” (being the initials of the designer Aleysha Howarth); the letter “P” and a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin and is superimposed over a pattern of radial lines, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, “Xoz 9999 Ag” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals), and the inscription, in Arabic numerals, of a year, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2023 1oz Silver Rabbit Coin

The design on the $1 2023 1oz silver rabbit coin consists of a stylised representation of two rabbits, one standing on its hindlegs and the other sitting on its haunches. Amongst the rabbits are stylised pebbles and grass. There is a tree branch with blossoms and berries above them. The design includes the following inscriptions: the Chinese language character (兔) pronounced tù under the Pinyin system and meaning rabbit; “RABBIT”; “2023”; “IJ” (being the initials of the designer Ing Ing Jong); the letter “P” and a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, “Xoz 9999 Ag” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals), and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$100 2023 1oz Gold Rabbit Coin

$15 2023 1/10oz Gold Rabbit Coin

The design on the 2023 gold rabbit coins consists of a stylised representation of a bounding rabbit looking backwards. Below the rabbit is a representation of rocky ground and lagurus (also known as bunny-tail grass). The design includes the following inscriptions: the Chinese language character (兔) pronounced tù under the Pinyin system and meaning rabbit; “RABBIT”; “2023”; “IJ” (being the initials of the designer Ing Ing Jong) and the letter “P”. The $100 2023 1oz Gold Rabbit Coin also has a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, “Xoz 9999 Au” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals), and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$30 2022 1/3oz Platinum Sea Turtle Coin

$25 2022 1/4oz Gold Sea Turtle Coin

$2 2022 1.5oz Silver Sea Turtle Coin

The design on the 2022 sea turtle coins consists of a circular border immediately inside the rim that is partially obscured by a representation of a sea turtle. The design includes the following inscriptions: “AUSTRALIAN SEA TURTLE”; “JM” (being the initials of the designer Jennifer McKenna); and the letter “P”. The $2 2022 1.5oz silver sea turtle coin also has a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, the inscription, in Arabic numerals, of a year, either “Xoz 9999 Au” or “Xoz 9995 Pt” or “Xoz 9999 Ag” as the case requires, (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals), and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2022 1oz Silver Wedge-Tailed Eagle Coin

$1 2022 1oz Silver Wedge-Tailed Eagle Ultra High Relief Coin

$100 2022 1oz Gold Wedge-Tailed Eagle Ultra High Relief Coin

$8 2022 5oz Silver Wedge-Tailed Eagle Ultra High Relief Coin

The design on the 2022 wedge-tailed eagle coins consists of a circle immediately inside the rim that is partially obscured by a stylised representation of the head of an eagle. The design includes the following inscriptions: “AUSTRALIAN WEDGE-TAILED EAGLE”; the inscription, in Arabic numerals, of a year; “Xoz 9999 SILVER” or “Xoz 9999 GOLD” as the case requires (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); “JM” (being the initials of the designer Jennifer McKenna); and the letter “P”. The $1 2022 1oz silver wedge-tailed eagle coin also has a microscopic “P”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.