Currency Determination No. 1 of 1993

Administered by Department of the Treasury

Legislation au F2008B00091 In force Legislative Instrument

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Commonwealth of Australia

Currency Act 1965

Currency Determination No. 1 of 1993

I, ROBERT FRANCIS MCMULLAN, Parliamentary Secretary to the Treasurer, make the following Determination under the Currency Act 1965.

Dated 16 February 1993.

Parliamentary Secretary to the Treasurer for and on behalf of the Treasurer

Citation

1. This Determination may be cited as Currency Determination No. 1 of 1993.

[NOTE: This Determination commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Interpretation

2. In this Determination:

“1 dollar kookaburra coin” means a coin of the denomination of $1 whose:

(a)      composition is not less than 99.9% silver; and

(b)      standard weight is specified in clause 3: and

(c)      dimensions are specified in clause 4; and

(d)      design is specified in clause 5;

“5 dollar macropod marsupial coin” means a coin of the denomination of $5 whose:

(a)      composition is not less that 99.99% gold; and

(b)      standard weight is specified in clause 6; and

(c)      dimensions are specified in clause 7; and

(d)      design is specified in clause 8;

 

“15 dollar macropod marsupial coin” means a coin of the denomination of $15 whose:

(a)      composition is not less that 99.99% gold; and

(b)      standard weight is specified in clause 9: and

(c)      dimensions are specified in clause 10; and

(d)      design is specified in clause 11;

“25 dollar koala coin” means a coin of the denomination of $25 whose:

(a)      composition is not less that 99.95% platinum; and

(b)      standard weight is specified in clause 12; and

(c)      dimensions are specified in clause 13; and

(d)      design is specified in clause 14;

“25 dollar macropod marsupial coin” means a coin of the denomination of $25 whose:

(a)      composition is not less that 99.99% gold; and

(b)      standard weight is specified in clause 15; and

(c)      dimensions are specified in clause 16; and

(d)      design is specified in clause 17;

“50 dollar macropod marsupial coin” means a coin of the denomination of $50 whose:

(a)      composition is not less that 99.99% gold; and

(b)      standard weight is specified in clause 18: and

(c)      dimensions are specified in clause 19; and

(d)      design is specified in clause 20;

“100 dollar macropod marsupial coin” means a coin of the denomination of $100 whose:

(a)      composition is not less that 99.99% gold; and

(b)      standard weight is specified in clause 21; and

(c)      dimensions are specified in clause 22; and

(d)      design is specified in clause 23;

“Act” means the Currency Act 1965.

Standard weight of 1 dollar kookaburra coin

3. (1) The standard weight of the 1 dollar kookaburra coin is 31.635 grams.

(2) A variation of 0.500 grams from the standard weight is allowable.

Dimensions of 1 dollar kookaburra coin

4. (1) The diameter of the 1 dollar kookaburra coin is 40.60 millimetres.

(2) The thickness of the coin is 4.00 millimetres.

Design of the 1 dollar kookaburra coin

5. (1) The shape of the 1 dollar kookaburra coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “1 DOLLAR”, all encircled by raised beads inside the rim of the coin.

(4) The reverse of the coin bears:

(a)      the representation of a kookaburra perched on a branch with a lizard in its beak; and

(b)      the inscription “THE AUSTRALIAN KOOKABURRA 1 OZ 999 SILVER”; and

(c)      the inscription in figures of a year; and

(d)      a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of the 5 dollar macropod marsupial coin

6. (1) The standard weight of the 5 dollar macropod marsupial coin is 1.571 grams.

(2) A variation of 0.015 grams from the standard weight is allowable.

Dimensions of the 5 dollar macropod marsupial coin

7. (1) The diameter of the 5 dollar macropod marsupial coin is 14.1 millimetres.

(2) The thickness of the coin is 1.4 millimetres.

Design of the 5 dollar macropod marsupial coin

8. (1) The shape of the 5 dollar macropod marsupial coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “5 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)       The reverse of the coin bears:

(a)      an inscription of the name of a species of macropod marsupial, and a representation of an animal of the species, superimposed on a sunburst design; and

(b)     the inscription “THE AUSTRALIAN NUGGET OZ 9999 GOLD”; and

(c)       the inscription in figures of a year; and

(d)      a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of the 15 dollar macropod marsupial coin

9. (1) The standard weight of the 15 dollar macropod marsupial coin is 3.133 grams.

(2) A variation of 0.022 grams from the standard weight is allowable.

Dimensions of the 15 dollar macropod marsupial coin

10. (1) The diameter of the 15 dollar macropod marsupial coin is 16.10 millimetres.

(2) The thickness of the coin is 1.50 millimetres.

Design of the 15 dollar macropod marsupial coin

11. (1) The shape of the 5 dollar macropod marsupial coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “15 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)       The reverse of the coin bears:

(a)      an inscription of the name of a species of macropod marsupial, and a representation of an animal of the species, superimposed on a sunburst design; and

(b)      the inscription “THE AUSTRALIAN NUGGET OZ 9999 GOLD”; and

(c)      the inscription in figures of a year; and

(d) a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of 25 dollar koala coin

12. (1) The standard weight of the 25 dollar koala coin is 7.815 grams.

(2) A variation of 0.035 grams from the standard weight is allowable.

Dimensions of 25 dollar koala coin

13. (1) The diameter of the 25 dollar koala coin is 20.10 millimetres.

(2) The thickness of the coin is 1.90 millimetres.

Design of the 25 dollar koala coin

14. (1) The shape of the 25 dollar koala coin is circular.

(2)        The edge of the coin is milled.

(3)        The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “25 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)        The reverse of the coin bears:

(a)      a representation of an adult koala holding on to a branch of a tree; and

(b)      the inscription “THE AUSTRALIAN KOALA ¼ OZ 9995 PLATINUM”; and

(c)      the inscription in figures of a year; and

(d)      a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of 25 dollar macropod marsupial coin

15. (1) The standard weight of the 25 dollar macropod marsupial coin is 7.807 grams.

(2) A variation of 0.030 grams from the standard weight is allowable.

Dimensions of 25 dollar macropod marsupial coin

16. (1) The diameter of the 25 dollar macropod marsupial coin is 20.10 millimetres.

(2) The thickness of the coin is 2.00 millimetres.

Design of the 25 dollar macropod marsupial coin

17. (1) The shape of the 25 dollar macropod marsupial coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “25 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)       The reverse of the coin bears:

(a)      an inscription of the name of a species of macropod marsupial, and a representation of an animal of the species, superimposed on a sunburst design; and

(b)      the inscription “THE AUSTRALIAN NUGGET ¼ OZ 9999 GOLD”; and

(c)      the inscription in figures of a year; and

(d)      a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of the 50 dollar macropod marsupial coin

18. (1) The standard weight of the 50 dollar macropod marsupial coin is 15.594 grams.

(2) A variation of 0.040 grams from the standard weight is allowable.

Dimensions of the 50 dollar macropod marsupial coin

19. (1) The diameter of the 50 dollar macropod marsupial coin is 25.10 millimetres.

(2) The thickness of the coin is 2.40 millimetres.

Design of the 50 dollar macropod marsupial coin

20. (1) The shape of the 50 dollar macropod marsupial coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “50 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)       The reverse of the coin bears:

(a)      an inscription of the name of a species of macropod marsupial, and a representation of an animal of the species, superimposed on a sunburst design; and

(b)      the inscription “THE AUSTRALIAN NUGGET ½ OZ 9999 GOLD”; and

(c)      the inscription in figures of a year; and

(d)      a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Standard weight of the 100 dollar macropod marsupial coin

21. (1) The standard weight of the 100 dollar macropod marsupial coin is 31.162 grams.

(2) A variation of 0.055 grams from the standard weight is allowable.

Dimensions of the 100 dollar macropod marsupial coin

22. (1) The diameter of the 100 dollar macropod marsupial coin is 32.10 millimetres.

(2) The thickness of the coin is 2.80 millimetres.

Design of the 100 dollar macropod marsupial coin

23. (1) The shape of the 100 dollar macropod marsupial coin is circular.

(2)       The edge of the coin is milled.

(3)       The obverse of the coin bears an effigy of the Queen and the inscriptions “ELIZABETH II AUSTRALIA” and “100 DOLLARS”, all encircled by raised beads inside the rim of the coin.

(4)       The reverse of the coin bears:

(a)      an inscription of the name of a species of macropod marsupial, and a representation of an animal of the species, superimposed on a sunburst design; and

(b)     the inscription “THE AUSTRALIAN NUGGET 1 OZ 9999 GOLD”; and

(c)      the inscription in figures of a year; and

(d)     a small eagle motif;

all encircled by raised beads inside the rim of the coin.

Amendment of Currency Determination No. 9 of 1992

24. Clause 2 of Currency Determination No. 9 of 1992 is amended by omitting from paragraph (4) (b) the words “ELIZABETH II” and substituting “ELIZABETH II AUSTRALIA”.

 

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Overview

The Currency Act 1965 was enacted to regulate and control the issuance of currency in Australia, ensuring the integrity and stability of the nation's monetary system. This Act provides the legal framework for the creation and issuance of Australian currency, including coins and banknotes, and ensures that such currency is universally recognised and accepted. The Currency Act 1965 was introduced to address the need for a cohesive and legally binding system for the issuance and regulation of currency, ensuring that it met the required standards for legal tender and public trust. The Currency Determination No. 1 of 1993, made under the authority of the Currency Act 1965, sets out detailed specifications for various commemorative coins, including their composition, weight, dimensions, and design. This legislative instrument was enacted by the Parliamentary Secretary to the Treasurer, acting on behalf of the Treasurer, to ensure that the coins meet the high standards expected of Australian currency. The policy objective of this determination is to maintain the quality and distinctiveness of Australian currency, reflecting the nation's heritage and values.

Scope and Application

The Currency Determination No. 1 of 1993 applies to the coins specified within the determination, namely the 1 dollar kookaburra coin, the 5 dollar macropod marsupial coin, the 15 dollar macropod marsupial coin, the 25 dollar koala coin, the 25 dollar macropod marsupial coin, the 50 dollar macropod marsupial coin, and the 100 dollar macropod marsupial coin. This determination is made under the Currency Act 1965, which is a Commonwealth Act. The determination outlines the specific characteristics and specifications of each coin, including composition, weight, dimensions, and design. The application of this determination is national, as it is a Commonwealth instrument. There are no stated exclusions, exemptions, or thresholds within this determination itself. However, the Currency Act 1965 may contain provisions that apply to other aspects of currency, and these could include exclusions, exemptions, or thresholds. The determination does not extend or restrict application through subordinate instruments, as it stands alone in setting out the specific details of the coins mentioned.

Key Provisions

The Currency Determination No. 1 of 1993, under the Currency Act 1965, specifies the details for various gold and silver coins, including their composition, weight, dimensions, and design. For instance, the 1 dollar kookaburra coin (clauses 2, 3, 4, and 5) must be composed of not less than 99.9% silver, weigh 31.635 grams with an allowable variation of 0.500 grams, have a diameter of 40.60 millimetres and a thickness of 4.00 millimetres, and bear a specific design on both its obverse and reverse sides. Similarly, the 5 dollar macropod marsupial coin (clauses 2, 6, 7, and 8) must be composed of not less than 99.99% gold, weigh 1.571 grams with an allowable variation of 0.015 grams, have a diameter of 14.1 millimetres and a thickness of 1.4 millimetres, and feature a specific design on both its obverse and reverse sides. These specifications extend to other coins such as the 15 dollar, 25 dollar koala, 25 dollar, 50 dollar, and 100 dollar macropod marsupial coins, each with its own unique set of requirements (clauses 2, 9 to 23). Additionally, the determination amends an earlier determination by modifying the inscriptions on the coins (clause 24). The Currency Determination No. 1 of 1993 imposes specific obligations on entities involved in the minting and circulation of these coins. Manufacturers must adhere to the specified compositions, weights, dimensions, and designs for each coin to ensure uniformity and legal tender status. The Australian government, through the Treasurer, is responsible for ensuring that these coins meet the set standards before they are released into circulation. Any deviations from the specified standards could render the coins non-compliant and potentially illegal for use as legal tender. The Currency Determination No. 1 of 1993 does not explicitly outline offences, penalties, or consequences for breach within the determination itself. However, breaches of the Currency Act 1965, under which this determination is made, could lead to civil or criminal penalties. Offences related to the currency can result in substantial fines and imprisonment, as outlined in the Currency Act. For example, knowingly possessing or dealing in non-compliant coins could be considered an offence, leading to penalties commensurate with the severity of the breach. The exact penalties would be determined based on the specific provisions of the Currency Act and other relevant legislation.

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