Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023

Administered by Department of the Treasury

Legislation au F2023L01374 Not in force Legislative Instrument

Legislation content

EXPLANATORY STATEMENT

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

Currency Act 1965

Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023

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 9 new non-circulating coins proposed to be issued by The Perth 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

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 (2023 Perth Mint No. 5) Determination 2023

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 9 new non-circulating coins proposed to be issued by The Perth 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 (2023 Perth Mint No. 5) Determination 2023

Section 1 – Name of the Determination

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023.

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. The newly determined coin characteristics are set out below.

 

 

 

 

 

 

 

 

 

 

 

 

 

$1 2024 13.5g Base Metal Citizenship Coin

 

The design on the 2024 base metal citizenship coin consists of a pattern of shapes forming a circle immediately inside the rim, enclosing a representation of the Coat of Arms of the Commonwealth. The design includes the following inscriptions: “AUSTRALIAN”, “CITIZENSHIP” and “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”, “2024”, 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”.

 

50c 2024 1/2oz Silver Dragon Gold-Plated Coin

$30 2024 1kg Silver Dragon Coloured Gold Chinese Symbol Privy Coin

$1 2024 1oz Silver Dragon with Dragon Privy Coin

 

The design on the 2024 silver dragon coins consists of, in the foreground, a stylised representation of a Chinese dragon shooting water from its mouth. Surrounding the dragon there is a stylised representation of a flaming pearl and waves of water. On the Silver Dragon with Dragon Privy Coin, the flaming pearl has been replaced by a stylised representation of a dragon enclosed in a circle. The design includes the following inscriptions: the Chinese language character (龍), pronounced lóng under the Pinyin system, and meaning dragon, “DRAGON”, “2024”, “IJ” (being the initials of the designer Ing Ing Jong), “P125” and a microscopic “P”. On the coloured coin, the Chinese dragon and flaming pearl are coloured and the Chinese language character (龍) is gold-plated.

 

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, “Xoz 9999 Ag” or “X KILO 9999 Ag” (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), 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 2024 1oz Platinum Dragon Coin (Proof)

$100 2024 1oz Gold Dragon with Dragon Privy Coin

 

The design on the 2024 platinum and gold dragon coins consists of, in the foreground, a stylised representation of a Chinese dragon. In the background, and partially obscured by the dragon, there is a stylised representation of clouds and waves of water. The design contains the following inscriptions: the Chinese language character (龍), pronounced lóng under the Pinyin system, and meaning dragon, “DRAGON”, “2024”, “IJ” (being the initials of the designer Ing Ing Jong) and “P125”. The Gold Dragon with Dragon Privy Coin includes a microscopic “P” and a stylised representation of a dragon enclosed in a circle.

 

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, Xoz 9995 Pt” or “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 “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 2024 13.5g Base Metal Dragon Coin

 

The design on the 2024 Base Metal Dragon Coin consists of, in the foreground, a stylised representation of a Chinese dragon shooting water from its mouth. Surrounding the dragon there is a stylised representation of a flaming pearl and waves of water. The design includes the following inscriptions: the Chinese language character (龍), pronounced lóng under the Pinyin system, and meaning dragon, “DRAGON”, “2024”, “IJ” (being the initials of the designer Ing Ing Jong) and “P125”.

 

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”, “2024”, 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”.

 

$2 2024 2oz Silver Dragon Antiqued Coin

 

The design on the 2024 Silver Dragon Antiqued Coin consists of, in the foreground, a stylised representation of a Chinese dragon shooting water from its mouth. In the background, and partially obscured by the dragon, there is a stylised representation of a village (with a bridge crossing the river running through it), mountains and clouds. The design includes the following inscriptions: “IJ” (being the initials of the designer Ing Ing Jong) and “P125”.

 

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”, “2024”, 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”.

 

$1 2024 1oz Silver Kookaburra with Ampelmann Privy Coloured Coin

 

The design on the 2023 Silver Kookaburra with Ampelmann Privy Coloured Coin consists of a partial circular border enclosing a stylised and coloured representation of a kookaburra in flight gripping a snake in its talons. Beneath the kookaburra, there is a stylised representation of mountains. The design includes the following inscriptions: “KOOKABURRA”, “2024”, “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), “SR” (being the initials of the designer Sean Rogers), “P125”, a microscopic “P” and a coloured representation of an Ampelmann (Berlin’s ‘traffic light man’) enclosed in an oval.

 

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”.

 

Overview

The Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023 was enacted to address the need to specify the characteristics of new non-circulating coins to be issued by The Perth Mint. This determination falls under the purview of the Currency Act 1965 and was made by the Assistant Minister for Competition, Charities and Treasury, exercising powers granted by subsections 13(2) and 13A of the Act. The primary policy objective is to ensure that the coins produced by the Mints remain legal tender unless or until they are taken out of circulation in accordance with the Currency Act 1965. The enactment of this Determination provides economic certainty and ensures the continued validity of the coins as legal tender. The Determination commenced on the day after it was registered on the Federal Register of Legislation and is subject to disallowance under section 42 of the Legislation Act 2003. It is compatible with human rights as it does not engage any of the applicable rights or freedoms.

Scope and Application

The Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023 applies to the characteristics of nine new non-circulating coins proposed to be issued by The Perth Mint, providing specific details such as denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions of these coins. This determination is made under the authority granted by the Currency Act 1965 and is applicable nationally across Australia. The instrument specifies the details for each of the new coins, ensuring that they meet the legal tender requirements as per the Act. The Determination commenced on the day after it was registered on the Federal Register of Legislation and is not subject to disallowance or sunsetting. The scope of the Determination is limited to the characteristics of the coins specified in its Schedule, and it extends to ensuring that the coins produced by The Perth Mint remain legal tender unless they are returned to a mint to be taken out of circulation. The Determination does not include any stated exclusions or exemptions, but it is subject to the overarching provisions of the Currency Act 1965. The application of this Determination can be extended or restricted through subordinate instruments as necessary.

Key Provisions

The Currency (Australian Coins) Amendment (2023 Perth Mint No. 5) Determination 2023 (the Determination) specifies the characteristics of nine new non-circulating coins proposed to be issued by The Perth Mint under the Currency Act 1965 (the Act). The coins, which include a variety of designs and denominations, are intended to be legal tender as per subsection 13(2) of the Act. These coins are to be issued in various metals, including base metal, silver, platinum, and gold, and range from one dollar to one hundred dollars in denomination. Each coin has unique design elements and inscriptions that comply with the standard coin characteristics outlined in the Act. Under the Act, the Treasurer has the authority to determine the characteristics of Australian coins, including their denomination, composition, weight, design, and dimensions. This Determination specifies these characteristics for the nine proposed coins, ensuring they meet the standards required for legal tender. The coins are to feature specific designs, including representations of a Chinese dragon, a kookaburra, and the Australian Coat of Arms, among others. All coins must also include an effigy of Her Majesty Queen Elizabeth II on the obverse side, along with specific inscriptions such as “ELIZABETH II”, “AUSTRALIA”, and the year of issue. The Determination imposes obligations on The Perth Mint and other entities involved in the production and issuance of these coins to ensure that they meet the specifications outlined. This includes ensuring that the coins are made from the specified metals and weights, bear the required inscriptions, and feature the mandated designs. The coins must be produced in a manner that ensures they are fit for use as legal tender. Breaching the requirements set out in this Determination could lead to the coins being deemed unfit for legal tender, potentially impacting their acceptance in transactions. Although specific penalties for non-compliance are not detailed in the Determination, the issuance of non-compliant coins could result in legal consequences under the Currency Act 1965, including potential fines or other penalties as prescribed by the Act. It is essential that The Perth Mint and other relevant entities adhere strictly to the coin characteristics specified to avoid any legal ramifications.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.