EXPLANATORY STATEMENT
Issued by authority of the Assistant Treasurer
Currency Act 1965
Currency (Australian Coins) Amendment (2022 Royal Australian 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 11 new non-circulating coins proposed to be issued by the Royal Australian Mint.
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 a 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 Interpretation 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
No public consultation was undertaken in relation to this legislative instrument. The effect of this instrument is to determine details of new Australian coin characteristics which will enable the Royal Australian Mint to continue its production of circulating and numismatic coins.
Members of the public have the opportunity to contact the Royal Australian Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and assessed in accordance with the Royal Australian Mint’s Coin Design Policy. The Royal Australian Mint also uses market based tools to identify interested parties and gauge interest in coin themes.
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 Royal Australian 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 11 new non-circulating coins proposed to be issued by the Royal Australian Mint.
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 Royal Australian Mint No. 3) Determination 2022
This Attachment sets out further details of the Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 3) Determination 2022 (the Determination).
Section 1 – Name
This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2022 Royal Australian 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 specified in a Schedule to the Determination is amended or repealed as set out in the Schedule.
Schedule 1 – Amendments
Schedule 1 amends the Currency (Australian Coins) Determination 2019 by adding the details of new coin characteristics and making technical amendments to ensure the Determination operates as intended. The newly determined coin characteristics are set out below.
New non-circulating coin
2022 20¢ Coloured Uncirculated Coin – 20th Anniversary of Diary of a Wombat
2022 20¢ Coloured Gold-Plated Uncirculated Coin – 20th Anniversary of Diary of a Wombat
The design on the 2022 20¢ 20th Anniversary of Diary of a Wombat coins consists of, in the foreground, a coloured stylised representation of Mothball the wombat eating a carrot, inspired by Bruce Whatley’s illustration from the children’s book Diary of a Wombat by Jackie French. A stylised representation of a clothesline is positioned in the background. The design includes the following inscriptions: “Diary of a Wombat”; “20”; and “20th ANNIVERSARY”.
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 numerals, of a year. The obverse design also includes the initials of the designer Jody Clark “JC”.
2022 $1 Uncirculated Coin – Wallal Centenary – Australia Tests Einstein’s Theory
2022 $1 ‘Envelope’ Privy Mark Uncirculated Coin – Wallal Centenary – Australia Tests Einstein’s Theory
2022 $5 Silver Proof Domed Coin – Wallal Centenary – Australia Tests Einstein’s Theory
The design on the Wallal Centenary – Australia Tests Einstein’s Theory coins consists of, in the centre, a stylised representation of the Earth including a map of Australia. A diagonal stripe representing the path of a solar eclipse is positioned over the Earth and a dot on the stripe indicates the location of Wallal, Western Australia. There is a representation of the sun positioned above the Earth. The design also features two separate patterns of skewed longitude and latitude lines with reducing radii moving from the rim of the coin inwards to the globe representing a gravity well that relates to Albert Einstein’s theory of general relativity. On the ‘envelope’ privy mark coin is a privy mark with a stylised representation of an envelope. There is a circular border immediately inside the rim of the coins with the following inscriptions: “WALLAL CENTENARY”; and “AUSTRALIA TESTS EINSTEIN’S THEORY”. The silver proof domed coin also includes the following inscription: “Xoz .999 Ag” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or common fraction in Arabic numerals).
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”, the inscription, in 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 also includes the initials of the designer Jody Clark “JC”.
2023 50¢ Tetra-Decagon Uncirculated Coin – Year of the Rabbit
2023 50¢ ‘Envelope’ Privy Mark Tetra-Decagon Uncirculated Coin – Year of the Rabbit
The design on the 2023 50¢ Year of the Rabbit coins 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 dianthus chinensis flowers (also known as Chinese pinks) and grass. In the background is a stylised representation of mountains and the rising sun. On the ‘envelope’ privy mark coin is a privy mark with a stylised representation of an envelope. The design includes the following inscriptions: the Chinese language character (兔) pronounced tù under the Pinyin system and meaning rabbit; “50”; and “TD” (being the initials of the designer Tony Dean).
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 numerals, of a year. The obverse design also includes the initials of the designer Jody Clark “JC”.
2022 $1 1oz Silver Investment Coin – Wildflowers of Australia – Waratah
2022 $100 1oz Gold Investment Coin – Wildflowers of Australia – Waratah
The design on the $1 1oz silver and $100 1oz gold investment – Wildflowers of Australia – Waratah coins consists of a stylised representation of three flowers of the waratah (as known as Telopea) plant and a wreath of their stems. The design includes the following inscriptions: either “ONE DOLLAR” or “100 DOLLARS” as the case requires; and “AS” (being the initials of the designer Aleksandra Stokic).
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 numerals, of a year. The obverse design also includes the initials of the designer Jody Clark “JC”.
On the obverse of the coins, the effigy is enclosed by a central circle and is surrounded by an ornamental border comprising of a stylised representation of the stages of growth from bud to full bloom of a waratah flower. The design includes the following inscription: either “Xoz .999 Ag” or “Xoz .9999 Au” 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).
2022 $100 1oz Gold Investment Coin – Australia’s Coat of Arms – New South Wales
2022 $1 1oz Silver Investment Coin – Australia’s Coat of Arms – New South Wales
The design on the $100 1oz gold and $1 1oz silver investment – Australia’s Coat of Arms – New South Wales coins consists of, in the centre, a stylised representation of a kangaroo as depicted on the Coat of Arms of New South Wales and two merino sheep. The kangaroo rests its right paw on a shield with the inscription of either “100 DOLLARS” or “ONE DOLLAR” as the case requires. There are representations of ears of wheat and waratah flowers that surround the kangaroo, shield, and sheep. Towards the bottom of the coin, there is a stylised representation of a rising sun on the horizon with stylised wattle forming sunrays radiating out to the border. An ornamental scroll partially obscures the representation of the sunrays and includes the following inscription: “NEW SOUTH WALES”. The reverse design also includes the inscription “AB” (being the initials of the designer Aaron Baggio).
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 numerals, of a year. The obverse design also includes the initials of the designer Jody Clark “JC”.
On the obverse of the coins, the effigy is enclosed by a circle at the bottom of the coin. Above the effigy, there is a representation of the male lion depicted on the Coat of Arms of New South Wales sitting on its haunches. In the background are four representations of eight-pointed stars (as depicted in the Coat of Arms of New South Wales), each partially obscured, and eight stylised Tudor roses positioned on and around the St George’s Cross (as depicted on the English flag). The design includes the following descriptions: either “X OUNCE.9999 Au” or “X OUNCE.999 Ag” as the case requires (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or common fraction in Arabic numerals); “NEWLY RISEN”; “HOW BRIGHTLY”; and “YOU SHINE”.