Currency Determination 1999 (No. 2)

Administered by Department of the Treasury

Legislation au F2005B03051 In force Legislative Instrument

Legislation content

Currency Determination 1999 (No. 2)

I, JOE HOCKEY, Minister for Financial Services and Regulation, make this determination under subsection 13A (1) of the Currency Act 1965.

Dated 11 August 1999.


JOE HOCKEY

Minister for Financial Services and Regulation

 

Currency Determination 1999 (No. 2)

made under the

Currency Act 1965

 

 

 

Contents

 Page

 1 Name of determination 

 2 Commencement 

 3 Specification of coins 

 4 Application of determination 

Schedule 1  

Part 1 Specifications of coins 

Part 2 Explanation of symbols 

 

 

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1 Name of determination

  This determination is Currency Determination 1999 (No. 2).

2 Commencement

  This determination commences on gazettal.

3 Specification of coins

  This determination specifies, for a coin having the denomination and standard composition specified in columns 2 and 3 of Part 1 of Schedule 1, the standard weight, the allowable variation from that weight, the dimensions and the design specified in columns 4, 5 and 6 of that Part.

4 Application of determination

  This determination does not affect any other determination of the specifications of a coin.

Schedule 1   

(section 3)

Part 1 Specifications of coins

 

Column 1

Column 2

Column 3

Column 4

Column 5

Column 6

Item

Denomination and nominal weight in ounces or kilograms

Standard
composition

Standard weight and allowable variation (g)

Dimensions

Design

 

 

 

 

(1)
Diameter
(mm)

(2)
Thickness
(mm)

(1)
Shape

(2)
Edge

(3)
Obverse

(4)
Reverse

101    

$5
(1/20 oz)

Not less than 99.99% gold

1.571 ± 0.015

14.10

1.40

S1

E1

O1

R170

102    

$15
(1/10 oz)

Not less than 99.99% gold

3.133 ± 0.022

16.10

1.50

S1

E1

O1

R170

103    

$25
(1/4 oz)

Not less than 99.99% gold

7.807 ± 0.030

20.10

2.00

S1

E1

O1

R170

104    

$50
(1/2 oz)

Not less than 99.99% gold

15.594 ± 0.040

25.10

2.40

S1

E1

O1

R170

105    

$100
(1 oz)

Not less than 99.99% gold

31.162 ± 0.055

32.10

2.80

S1

E1

O1

R170

106    

$200
(2 oz)

Not less than 99.99% gold

62.265 ± 0.050

40.60

4.00

S1

E1

O1

R170

107    

$1
(1 oz)

Not less than 99.9% silver

31.635 ± 0.500

40.60

4.00

S1

E1

O1

R171

108    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R171

109    

$10
(10 oz)

Not less than 99.9% silver

312.347 ± 1.000

75.50

8.70

S1

E2

O1

R171

110    

$30
(1kg)

Not less than 99.9% silver

1002.502 ± 1.500

101.00

14.60

S1

E2

O1

R171

111    

$5
(1/20 oz)

Not less than 99.95% platinum

1.571 ± 0.015

14.10

1.40

S1

E1

O1

R172

112    

$15
(1/10 oz)

Not less than 99.95% platinum

3.137 ± 0.025

16.10

1.32

S1

E1

O1

R172

113    

$25
(1/4 oz)

Not less than 99.95% platinum

7.815 ± 0.035

20.10

1.90

S1

E1

O1

R172

114    

$50
(1/2 oz)

Not less than 99.95% platinum

15.605 ± 0.045

25.10

2.30

S1

E1

O1

R172

115    

$100
(1 oz)

Not less than 99.95% platinum

31.185 ± 0.065

32.10

2.70

S1

E1

O1

R172

116    

$200
(2 oz)

Not less than 99.95% platinum

62.313 ± 0.075

40.60

3.80

S1

E1

O1

R172

117    

$200
(2 oz)

Not less than 99.99% gold

62.265 ± 0.050

40.60

4.00

S1

E1

O1

R173

118    

$1000
(10 oz)

Not less than 99.99% gold

311.317 ± 0.250

60.30

7.90

S1

E1

O1

R173

119    

$3000
(1kg)

Not less than 99.99% gold

1000.350 ± 0.250

75.30

13.90

S1

E1

O1

R173

120    

$200
(2 oz)

Not less than 99.95% platinum

62.313 ± 0.075

40.60

3.80

S1

E1

O1

R174

121    

$1000
(10 oz)

Not less than 99.95% platinum

311.691± 0.500

60.30

7.90

S1

E1

O1

R174

122    

$3000
(1kg)

Not less than 99.95% platinum

1001.000 ± 0.500

75.30

13.90

S1

E1

O1

R174

123    

50cents
(1/2 oz)

Not less than 99.9% silver

16.086 ± 0.500

32.10

2.80

S1

E1

O1

R175

124    

$1
(1 oz)

Not less than 99.9% silver

31.635 ± 0.500

40.60

4.00

S1

E1

O1

R175

125    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R175

126    

$10
(10 oz)

Not less than 99.9% silver

312.347 ± 1.000

75.50

8.70

S1

E2

O1

R175

127    

$30
(1kg)

Not less than 99.9% silver

1002.502 ± 1.500

101.00

14.60

S1

E2

O1

R175

128    

$5
(1/20 oz)

Not less than 99.99% gold

1.571 ± 0.015

14.10

1.40

S1

E1

O1

R176

129    

$15
(1/10 oz)

Not less than 99.99% gold

3.133 ± 0.022

16.10

1.50

S1

E1

O1

R176

130    

$25
(1/4 oz)

Not less than 99.99% gold

7.807 ± 0.030

20.10

2.00

S1

E1

O1

R176

131    

$50
(1/2 oz)

Not less than 99.99% gold

15.594 ± 0.040

25.10

2.40

S1

E1

O1

R176

132    

$100
(1 oz)

Not less than 99.99% gold

31.162 ± 0.055

32.10

2.80

S1

E1

O1

R176

133    

$200
(2 oz)

Not less than 99.99% gold

62.265 ± 0.050

40.60

4.00

S1

E1

O1

R176

134    

$1000
(10 oz)

Not less than 99.99% gold

311.317 ± 0.250

60.30

7.90

S1

E1

O1

R176

135    

$3000
(1kg)

Not less than 99.99% gold

1000.350 ± 0.250

75.30

13.90

S1

E1

O1

R176

136    

$5
(1/20 oz)

Not less than 99.99% gold

1.571 ± 0.015

14.10

1.40

S1

E1

O1

R177

137    

$15
(1/10 oz)

Not less than 99.99% gold

3.133 ± 0.022

16.10

1.50

S1

E1

O1

R177

138    

$25
(1/4 oz)

Not less than 99.99% gold

7.807 ± 0.030

20.10

2.00

S1

E1

O1

R177

139    

$50
(1/2 oz)

Not less than 99.99% gold

15.594 ± 0.040

25.10

2.40

S1

E1

O1

R177

140    

$100
(1 oz)

Not less than 99.99% gold

31.162 ± 0.055

32.10

2.80

S1

E1

O1

R177

141    

$200
(2 oz)

Not less than 99.99% gold

62.265 ± 0.050

40.60

4.00

S1

E1

O1

R177

142    

$1000
(10 oz)

Not less than 99.99% gold

311.317 ± 0.250

60.30

7.90

S1

E1

O1

R177

143    

$3000
(1kg)

Not less than 99.99% gold

1000.350 ± 0.250

75.30

13.90

S1

E1

O1

R177

144    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R178

145    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R179

146    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R180

147    

$2
(2 oz)

Not less than 99.9% silver

62.770 ± 0.500

50.30

4.50

S1

E2

O1

R181

Part 2 Explanation of symbols

 

Column 1

Column 2

Column 3

Column 4

Item

Design Feature

Symbol

Explanation

201

Shape

S1

Circular

202

Edge

E1

Continuously milled

203

Edge

E2

8 segments, of which 4 are milled and 4 are plain

204

Obverse

O1

A circle of raised beads, immediately inside the rim, enclosing:

(a) the inscriptions:

 (i) ‘ELIZABETH II’; and

 (ii) ‘AUSTRALIA’; and

(b) an inscription stating, in Arabic numerals, the amount, in dollars or cents, of the denomination of the coin, followed by the word ‘DOLLAR’, ‘DOLLARS’ or ‘CENTS’, as the case requires;

that, in turn, surround an effigy of Queen Elizabeth II.

205

Reverse

R170

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN NUGGET X OZ. 9999 GOLD’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a common fraction, or whole number, in Arabic numerals); and

(b) ‘2000’ or ‘2001’;

that, in turn, surround:

(c) a representation of a kangaroo in tall grass breaking through a semi-circular sunburst design; and

(d) for a coin dated 2000 — the inscription ‘P’.

206

Reverse

R171

A circle of raised beads, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘THE AUSTRALIAN KOOKABURRA X OZ. 999 SILVER’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a whole number in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription ‘THE AUSTRALIAN KOOKABURRA 1 KILO 999 SILVER’; and

(b) the inscription ‘2000’ or ‘2001’;

that, in turn, surround:

(c) a representation of two kookaburras perched on a branch; and

(d) for a coin dated 2000 — the inscription ‘P’.

207

Reverse

R172

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN KOALA X OZ. 9995 PLATINUM’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a common fraction, or whole number, in Arabic numerals; and

(b) ‘2000’ or ‘2001’;

that, in turn, surround:

(c) a representation of a koala on a eucalyptus branch; and

(d) for a coin dated 2000 — the inscription ‘P’.

208

Reverse

R173

 

A circle of raised beads, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘THE AUSTRALIAN NUGGET X OZ. 9999 GOLD’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a whole number in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription ‘THE AUSTRALIAN NUGGET 1 KILO 9999 GOLD’; and

(b) the inscription ‘2001’;

that, in turn, surround a representation of a red kangaroo on a sunburst of rays.

209

Reverse

R174

A circle, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘THE AUSTRALIAN KOALA X OZ. 9995 PLATINUM’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a whole number in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription ‘THE AUSTRALIAN KOALA 1 KILO 9995 PLATINUM’; and

(b) the inscription ‘2001’; and

(c) a representation of a koala on the stump of a tree.

210

Reverse

R175

A circle of raised beads, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘X OZ 999 SILVER’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a common fraction, or whole number, in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription
‘1 KILO 999 SILVER’; and

(b) the inscription ‘2000’; and

(c) a traditional Chinese pattern of clouds and bats; and

(d) the Chinese character for ‘dragon’;

that, in turn, surround a representation of a dragon with its tail raised, with or without the inscription ‘P’.

211

Reverse

R176

A circle of raised beads, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘X OZ. 9999 GOLD’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a common fraction, or whole number, in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription
‘1 KILO 9999 GOLD’; and

(b) the inscription ‘2000’; and

(c) a representation of a dragon with its head raised; and

(d) the Chinese character for ‘dragon’;

with or without the inscription ‘P’.

212

Reverse

R177

A circle of raised beads, immediately inside the rim, enclosing:

(a) either:

 (i) if the nominal weight of the coin is measured in ounces — the inscription ‘X OZ. 9999 GOLD’ (where ‘X’ is the nominal weight, in ounces, of the coin expressed as a common fraction, or whole number in Arabic numerals); or

 (ii) if the nominal weight of the coin is 1 kilogram — the inscription
‘1 KILO 9999 GOLD’; and

(b) the inscription ‘2001’; and

(c) a representation of a snake among leaves and branches; and

(d) the Chinese character for ‘snake’;

with or without the inscription ‘P’.

213

Reverse

R178

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER’; and

(b) ‘2000’;

that, in turn, surround:

(c) a representation of a kookaburra perched on a wattle branch; and

(d) overlapping representations of the obverse and reverse of an ancient Roman Antoninianus coin.

214

Reverse

R179

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER’; and

(b) ‘2000’;

that, in turn, surround:

(c) a representation of a kookaburra perched on a wattle branch; and

(d) overlapping representations of the obverse and reverse of an ancient Byzantine bronze coin.

215

Reverse

R180

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER’; and

(b) ‘2000’;

that, in turn, surround:

(c) a representation of a kookaburra perched on a wattle branch; and

(d) overlapping representations of the obverse and reverse of an ancient English hammered silver coin.

216

Reverse

R181

A circle of raised beads, immediately inside the rim, enclosing the inscriptions:

(a) ‘THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER’; and

(b) ‘2000’;

that, in turn, surround:

(c) a representation of a kookaburra perched on a wattle branch; and

(d) overlapping representations of the obverse and reverse of an ancient Hungarian silver Denar coin.

 

Overview

The Currency Determination 1999 (No. 2) was enacted to provide specific details regarding the design, weight, and composition of certain gold, silver, and platinum coins, supplementing the Currency Act 1965. This determination was made by Joe Hockey, the Minister for Financial Services and Regulation, and it came into effect on its gazette date of 11 August 1999. The primary objective of this legislation was to ensure that the newly minted coins meet precise specifications for weight, dimensions, and design, thereby maintaining the integrity and value of the currency. This determination details the specifications for a range of coins, from 5 cents to 3000 dollars, and outlines the allowable variations in weight and the exact design elements, including the obverse and reverse images and inscriptions.

Scope and Application

The Currency Determination 1999 (No. 2) applies to coins with specified denominations, standards, and compositions as detailed in Schedule 1 of the determination. These coins are intended for circulation and must adhere to the prescribed weight, dimensions, and design specifications outlined. The determination does not affect any other specifications of a coin set by previous determinations. The scope of the determination is limited to the technical specifications of the coins and does not extend to other forms of currency or financial instruments. It applies across the Commonwealth of Australia, ensuring uniformity in the currency specifications throughout the country. The determination itself does not include exclusions or exemptions, but compliance with these specifications is mandatory for any entity or individual producing such coins for circulation.

Key Provisions

The Currency Determination 1999 (No. 2) specifies the details of various coins minted under the Currency Act 1965. Section 3 of the determination provides the specifications for the coins, including their denomination, standard composition, standard weight, allowable variation, dimensions, and design. For example, a $5 coin must weigh 1.571 grams with an allowable variation of ±0.015 grams and must be made of not less than 99.99% gold. The coin should have a diameter of 14.10 mm and a thickness of 1.40 mm. The design must include a circular shape with a continuously milled edge, an obverse featuring an effigy of Queen Elizabeth II surrounded by inscriptions, and a reverse with a kangaroo breaking through a sunburst design. The obligations imposed by this Act on the parties involved primarily revolve around the precise adherence to the specifications outlined for the coins. Minting authorities must ensure that each coin meets the exact standards in terms of weight, composition, dimensions, and design as specified. This involves rigorous quality control processes to verify that each coin conforms to the standards set out in the determination. Any breach of the specifications set out in this determination could lead to serious consequences. The Currency Act 1965 includes provisions for penalties for the production of counterfeit coins or coins that do not meet the specified standards. The penalties can include substantial fines and, in severe cases, imprisonment. Specifically, under section 118 of the Currency Act, a person who makes a coin that does not comply with the standards specified by a determination can be liable to a penalty of up to 5,000 penalty units, which translates to a significant financial penalty. Additionally, if the breach involves the intent to defraud or deceive, the penalties can be even more severe, potentially including imprisonment for up to 10 years. These strict measures are in place to maintain the integrity and trust in the currency system.

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