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. 7) 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 19 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 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. 7) 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 19 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 (2023 Perth Mint No. 7) 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. 7) 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 and to make technical amendments to ensure the Determination operates as intended. The newly determined coin characteristics are set out below.
$1 2024 13.5g Base Metal ANZAC Day Coin
The design on the $1 2024 13.5g Base Metal ANZAC Day Coin consists of a circular border immediately insider the rim that is partially obscured by a representation of a monument. On each side of the monument, is a representation of flags flying at half mast. Behind the monument, is a stylised representation of hills and a body of water. At the bottom of the coin, and partially obscuring the border, is a stylised representation of a flaming torch, representing an eternal flame. The design includes the following inscriptions: “25 APRIL”; the inscription, in Arabic numerals, of a year; “LEST WE FORGET”; “WR” (being the initials of the designer Wade Robinson); and “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$1 2024 1oz Silver Emu Coloured Coin
The design on the $1 2024 1oz Silver Emu Coloured Coin consists of a partial circular border enclosing a coloured representation of an emu and three emu chicks. In the background, a landscape featuring tufts of grass, rocky ground, and a hill. The design includes the following inscriptions: “AUSTRALIAN EMU”; 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); “SR” (being the initials of the designer Sean Rogers); and “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$100 2024 1oz Gold Kangaroo High Relief Coin
$200 2024 1oz Gold Kangaroo High Relief Coin
The design on the 2024 gold kangaroo high relief coins consists of a partial circle enclosing a representation of a bounding kangaroo on rocky ground next to a stream. In the background, there is a representation of a water tank and a multi-blade wind-powered water pump. The design includes the following inscriptions: “KANGAROO”; the inscription, in Arabic numerals, of a year; “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); “WR” (being the initials of the designer Wade Robinson); and “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$30 2024 1kg Silver Koala Coin
$1 2024 1oz Silver Koala Coin
The design on the 2024 silver koala coins consists of a partial circle enclosing a representation of a Koala climbing a tree. Surrounding the koala are eucalyptus leaves. The design includes the following inscriptions: “KOALA”; the inscription, in Arabic numerals, of a year; “XKILO 9999 SILVER” or “Xoz 9999 SILVER” as the case requires (where “X” is the nominal weight in kilograms or 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); “P125”; and a microscopic “P”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$15 2024 1/10oz Gold Kookaburra Coin
$15 2024 1/10oz Platinum Kookaburra Coin
The design on the 2024 gold and platinum kookaburra coins consists of a partial circular border enclosing a stylised 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 GOLD” or “Xoz 9995 Pt” 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); “SR” (being the initials of the designer Sean Rogers); and “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$2 2024 0.5g Gold Mini Roo Coin
The design on the 2024 gold mini roo coin consists of a partial circle enclosing a representation of a bounding kangaroo on rocky ground next to a stream. In the background, there is a representation of a water tank and a multi-blade wind-powered water pump. The design includes the following inscriptions: “KANGAROO”; the inscription, in Arabic numerals, of a year; “Xg 9999 GOLD” (where “X” is the nominal weight in grams of the coin expressed as a whole or decimal number in Arabic numerals); “WR” (being the initials of the designer Wade Robinson); and “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$100 2024 1oz Gold Mythical Creatures – Dragon & Koi Coin
The design on the $100 2024 1oz Gold Mythical Creatures – Dragon & Koi coin consists of, in the foreground, a stylised representation of a Chinese dragon and a koi fish encircling a flaming pearl. In the background, there is a stylised representation of a bridge over a river, a grassy riverbank and rocks. The design contains the following inscriptions: “WR” (being the initials of the designer Wade Robinson); “P125”; a microscopic “P”; and the inscription, in Arabic numerals, of a year.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 “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). The obverse design includes the initials of the designer Dan Thorne “DT”.
$1 2024 1oz Silver Swan Coin
$1 2024 1oz Silver Swan Coloured Coin
$100 2024 1oz Gold Swan Coin
The design on the 2024 swan coins consists of a circular border in the foreground enclosing a representation of a swan flapping its wings, on the surface of stylised rippling water. In the background, and enclosed by the circular border, there is a stylised representation of the night sky with a full moon and stars. In the silver swan coloured coin, the representation of the swan, the water and the night sky with a full moon and stars are coloured. The design contains the following inscriptions: “SILVER SWAN” or “GOLD SWAN” as the case requires; the inscription, in Arabic numerals, of a year; “XOZ 9999” (where “X” is the nominal weight in ounces of the coin expressed as a whole number or a common fraction in Arabic numerals); “AUSTRALIAN”; “AH” (being the initials of the designer Aleysha Howarth); “P125”; and a microscopic “P”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”.
$100 2024 1oz Gold Wedge-Tailed Eagle High Relief Coin
$1 2024 1oz Silver Wedge-Tailed Eagle Gold-Plated High Relief Coin
$8 2024 5oz Silver Wedge-Tailed Eagle High Relief Coin
The design on the 2024 wedge-tailed eagle high relief coins consists of a circular border enclosing a representation of a flash of light. In the foreground, and partially obscuring the circular border and the flash of light, there is a stylised representation of an eagle with its wings outstretched. The stylised representation of an eagle is gold-plated on the gold-plated high relief coin. The design includes the following inscriptions: “AUSTRALIAN WEDGE-TAILED EAGLE”; “10TH ANNIVERSARY”; the inscription, in Arabic numerals, of a year; “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 “P125”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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. Above the effigy is a small circular border surrounding a representation of an eagle about to land on a branch. The obverse design includes the initials of the designer Dan Thorne “DT”.
$1 2024 1oz Silver Dragon with Opal Insert Coin
The design on the $1 2024 1oz Silver Dragon with Opal Insert Coin consists of, in the centre of the coin, a circular inset opal incorporating a stylised representation of a Chinese dragon. Surrounding the inset opal is a plain border, and surrounding the plain border is a stylised representation of hyacinth flowers with foliage. Immediately inside the rim of the coin is a stylised Chinese themed border. The design includes the following inscriptions: “YEAR OF THE DRAGON”; the Chinese language character “龍”, pronounced lóng under the Pinyin system, and meaning dragon; “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); “JM” (being the initials of the designer Jennifer McKenna); and “P125”.
Consistent with all current 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”. The effigy is superimposed over radial lines.
$3,000 2024 1kg Gold Kangaroo Coin
The design on the $3,000 2024 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”; “XKILO 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); the inscription, in Arabic numerals, of a year; “RED KANGAROO”; “P125”; and a microscopic “P”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”. Immediately inside the rim of the coin there is a pattern of dots that forms a circular border around the effigy.
$1 2024 1oz Silver Red Kangaroo Coin
The design on the $1 2024 1oz Silver Red Kangaroo Coin consists of a pattern of wavy lines immediately inside the rim, enclosing a representation of a bounding kangaroo surrounded by stylised sunrays and radial lines. The design includes the following inscriptions: “AUSTRALIAN KANGAROO”; “P125”; 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); and a microscopic “A”.
Consistent with the tradition of an effigy of the reigning sovereign appearing on the obverse side of all Australian legal tender coinage, an effigy of His Majesty King Charles III will appear on the obverse side of the coin together with the inscriptions “CHARLES III”, “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 includes the initials of the designer Dan Thorne “DT”. Immediately inside the rim of the coin there is a pattern of wavy lines that forms a circular border around the effigy.
Schedule 1 also makes a minor technical change to the description of one previously determined coin to correct a minor error.