Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) Determination 2023

Administered by Department of the Treasury

Legislation au F2023L01398 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 Royal Australian Mint No. 8) 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 8 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 (2023 Royal Australian Mint No. 8) 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 8 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 (2023 Royal Australian Mint No. 8) Determination 2023

This Attachment sets out further details of the Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) Determination 2023 (the Determination).

Section 1 – Name

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) 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.

 

 

 

 

 

 

 

 

 

 

 

New non-circulating coins

2023 50c Fine Silver Proof Coin – Her Majesty Queen Elizabeth II

2023 50c Uncirculated Coin – Her Majesty Queen Elizabeth II

 

The design on the 2023 50c coins – Her Majesty Queen Elizabeth II consists of the six effigies of Queen Elizabeth II as depicted on Australian coins between 1953 and 2022. Surrounding the effigies is a stylised representation of lily-of-the-valley flowers and golden wattle flowers, with foliage. At the bottom of the coin, there is a circle enclosing a representation of St Edward’s Crown and the royal cypher of Her Majesty Queen Elizabeth II, “ERII”. The design includes the following inscriptions: “HER MAJESTY QUEEN ELIZABETH II”; and “1952-2022” (being the dates of Her Majesty Queen Elizabeth II’s reign).

 

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”, “2023”, 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”. 

 

2023 $5 1/2g Gold Frosted Uncirculated Coin – Mini Money – Emu

The design on the 2023 $5 1/2g gold frosted uncirculated coin – Mini Money – Emu consists of a representation of an emu brooding over a nest containing 5 eggs. The design includes the following inscriptions: “Xg .9999 Au” (where “X” is the nominal weight in grams of the coin, expressed as a whole number or a common fraction in Arabic numerals); and “EW” (being the initials of the designer Elyssa Waterford). 

 

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”, “2023”, 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”. 

 

2024 $1 1oz Silver Investment Coin – Australia's Most Dangerous – Tiger Snake
2024 $100 1oz Gold Investment Coin – Australia's Most Dangerous – Tiger Snake

The design on the 2024 1oz investment coins – Australia’s Most Dangerous – Tiger Snake consists of, in the foreground, a representation of a tiger snake in strike position. In the background is a representation of tall grass and a mountain range. The design includes the following inscriptions: “TIGER SNAKE”; either “Xoz .999 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); and “EW” (being the initials of the designer Elyssa Waterford).

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”, “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”.

2024 $100 1oz Gold Investment Coin – Koala Series

2024 $1 1oz Silver Investment Coin – Koala Series

2024 $5 1oz Silver Proof High Relief Coin – Koala Series

The design on the 2024 1oz coins – Koala Series consists of a representation of a koala on a branch in the foreground. In the background and partially obscured by the koala is a stylised representation of eucalyptus leaves and branches. The design includes the following inscriptions: “KOALA”; either “Xoz .9999 Au” or “Xoz .999 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 “BS” (being the initials of the designer Bronwyn Scott).

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”, “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”.

Overview

The Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) Determination 2023 was enacted to address the need for determining the characteristics of new non-circulating coins to be issued by the Royal Australian Mint. Enacted under the authority of the Assistant Minister for Competition, Charities and Treasury, this Determination was made under the Currency Act 1965, which provides the framework for determining the characteristics of Australian coins, including their denomination, composition, weight, design, and dimensions. The policy objective of this Determination is to facilitate the continued production of circulating and numismatic coins by the Royal Australian Mint, ensuring economic certainty and maintaining the integrity of Australian legal tender. This Determination outlines the specifics of eight new coins, including commemorative designs and specifications, to be added to the Australian coin repertoire.

Scope and Application

The Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) Determination 2023 pertains to the determination of the characteristics of eight new non-circulating coins proposed for issuance by the Royal Australian Mint. This Determination applies nationally, falling under the purview of the Commonwealth and is governed by the Currency Act 1965. The Determination allows the Treasurer to specify the details of the new coins, including their denomination, composition, weight, design, and dimensions. These coins, once issued, will become legal tender in Australia. The Determination is integral in ensuring that the coins produced by the Mints are recognised as legal tender unless they are taken out of circulation as per the Currency Act 1965. Notably, the instrument is not subject to sunsetting as it provides economic certainty and is essential for the ongoing production of legal tender. The instrument does not include any exclusions, exemptions, or thresholds but operates under the broader legislative framework of the Currency Act 1965. The Determination itself is a legislative instrument, which means it can be subject to disallowance under the Legislation Act 2003, but it does not extend or restrict its application through subordinate instruments.

Key Provisions

The Currency (Australian Coins) Amendment (2023 Royal Australian Mint No. 8) Determination 2023 outlines the characteristics of eight new non-circulating coins, as stipulated in sections 13(2) and 13A of the Currency Act 1965. This legislative instrument mandates specific details such as denomination, composition, weight, design, and dimensions for these coins, which are to be produced by the Royal Australian Mint. The coins include a 2023 50 cent fine silver proof coin and an uncirculated coin both featuring Her Majesty Queen Elizabeth II, a $5 gold frosted uncirculated coin depicting an emu, and several investment coins for 2024 featuring the tiger snake and koala series in both silver and gold. The Act imposes several obligations on the Royal Australian Mint, primarily ensuring that the coins adhere to the specified characteristics as outlined in the Determination. The Mint must ensure that the coins are produced in accordance with the detailed design and specifications, which include the mandatory depiction of Her Majesty Queen Elizabeth II on the obverse side, along with other required inscriptions. Additionally, the Mint is responsible for ensuring the coins meet the legal tender requirements set forth by the Currency Act 1965, thus maintaining their status as legal tender. Failure to comply with the provisions of this Determination can lead to significant legal consequences. While the Determination itself does not explicitly state penalties for non-compliance, any breach of the Currency Act 1965 could result in criminal or civil penalties. Under the Currency Act, penalties for producing counterfeit coins or engaging in fraudulent activities involving currency can be severe, potentially including fines and imprisonment. The specifics of these penalties would be governed by other sections of the Currency Act and related legislation, which may impose significant fines and/or imprisonment for serious offences.

Legal classification tags

Area of Law
Currency Law
Instrument
Legislative Instrument
Concepts
Definitions & Interpretation
Commencement Provisions
Delegated & Subordinate Legislation
Reporting & Disclosure Obligations
Enforcement Powers

Interactions

Authorises

All Versions

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.