EXPLANATORY STATEMENT

Issued by authority of the Assistant Minister for Competition, Charities and Treasury

Currency Act 1965

Currency (Australian Coins) Amendment (2022 Perth Mint No. 3) Determination 2022

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 16 new non-circulating coins proposed to be issued by The Perth Mint. The legislative instrument also amends the details of 4 coins previously determined.

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 (2022 Perth Mint No. 3) Determination 2022

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 16 new non-circulating coins proposed to be issued by The Perth Mint. The legislative instrument also amends the details of 4 coins previously determined.

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 (2022 Perth Mint No. 3) Determination 2022

Section 1 – Name of the Determination

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2022 Perth Mint No. 3) Determination 2022.

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

Schedule 1 amends the Currency (Australian Coins) Determination 2019 by adding the details of new coin characteristics. The newly determined coin characteristics are set out below.

$100 2023 1oz Gold Kangaroo Coin

$50 2023 1/2oz Gold Kangaroo Coin

$25 2023 1/4oz Gold Kangaroo Coin

$15 2023 1/10oz Gold Kangaroo Coin

The design on the 2023 gold kangaroo coins 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”; “2023”; “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); “IJ” (being the initials of the designer Ing Ing Jong); and the letter “P”. The $100 coin is also inscribed with 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 coins, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

$3,000 2023 1kg Gold Kangaroo Coin

The design on the $3,000 2023 1kg gold kangaroo coin consists of a representation of a bounding kangaroo surrounded by stylised sunrays. Immediately inside the rim of the coin is a circular border of a pattern of dots. The design includes the following inscriptions: “AUSTRALIAN KANGAROO”; “X KILO 9999 GOLD” (where “X” is the nominal weight in kilograms of the coin, expressed as a whole number or a common fraction in Arabic numerals); “2023”; “RED KANGAROO”; 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”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The effigy is surrounded by a circular border consisting of a pattern of dots. The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2023 Kangaroo 1oz Silver Coin

$100 2023 Kangaroo 1oz Platinum Coin

The design on the 2023 kangaroo 1oz silver and platinum coins consists of a representation in the centre of a bounding kangaroo. Surrounding the kangaroo are stylised sunrays, which are surrounded by a circular border consisting of a pattern of wavy lines. The kangaroo is also surrounded by radial lines in the silver coin. The design includes the following inscriptions: “AUSTRALIAN KANGAROO”; the letter “P”; “2023”; and either “Xoz 9999 SILVER” or “Xoz 9995 PLATINUM” 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). The silver coin is also inscribed with a microscopic “A”. The platinum coin is also inscribed with 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 coins, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”. On the silver coin, the effigy is surrounded by a circular border consisting of a pattern of wavy lines.

$1 2023 1oz Silver Koala Coin

$30 2023 1kg Silver Koala Coin

The design on the 2023 silver koala coins 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”; “2023”; either “Xoz 9999 SILVER” or “X KILO 9999 SILVER” as the case requires (where “X” is the nominal weight in ounces or kilograms 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 coins, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2023 1oz Silver Kookaburra Coloured Coin

The design on the $1 2023 1oz silver kookaburra coloured coin consists of a partial circle enclosing a coloured representation of two kookaburras perched on separate tree branches, surrounded by coloured waratah flowers. The design includes the following inscriptions: “KOOKABURRA”; “2023”; “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); “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”, “AUSTRALIA”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2023 1oz Silver One Love Coloured Coin

The design on the $1 2023 1oz silver one love coloured coin consists of a representation of two doves in flight, a coloured infinity sign, and stylised flowers and leaves. The design includes the following inscriptions: “two hearts”; “two lives”; “One Love”; “AH” (being the initials of the designer Aleysha Howarth); 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 coin, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, the inscription, in Arabic numerals, of a year, 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, “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 “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

$100 2023 1oz Gold Wedge-Tailed Eagle Incused Coin

$1 2023 1oz Silver Wedge-Tailed Eagle Incused Coin

$10 2023 10oz Silver Wedge-Tailed Eagle Incused Coin

$1 2023 1oz Silver Wedge-Tailed Eagle Coin

The design on the 2023 wedge-tailed eagle coins consists of a circular border immediately inside the rim, partially obscured by a stylised representation of an eagle perched on a tree branch with its wings outstretched. The design includes the following inscriptions: “AUSTRALIAN WEDGE-TAILED EAGLE”; “2023”; either “Xoz 9999 GOLD” or “Xoz 9999 SILVER” 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 John Mercanti); and the letter “P”. The $1 2023 1oz silver wedge-tailed eagle coin is also inscribed with 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 coins, together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

$1 2023 1oz Silver Wedding Coloured Coin

The design on the $1 2023 1oz silver wedding coloured coin consists of a representation of a male wearing a suit and tie, holding a female wearing a veil and a long flowing layered wedding dress with a coloured representation of two rings entwined. The design includes the following inscriptions: “Congratulations”; “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); “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 coin together with the inscriptions “ELIZABETH II”, “AUSTRALIA”, the inscription, in Arabic numerals, of a year, 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, and “1952-2022” (being the dates of her Majesty Queen Elizabeth II’s reign). The obverse design includes the initials of the designer Jody Clark “JC”.

Schedule 1 also makes amendments to the specifications of four previously determined (but not yet issued) coins. The adjustments are needed to reflect the obverse side of the coins bearing the dates of her Majesty Queen Elizabeth II’s reign.