Currency Determination No. 1 of 1998
as amended
made under subsection 13A (1) of the
Currency Act 1965
This compilation was prepared on 28 March 2006
taking into account amendments up to Currency Determination No. 6 of 1998
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
1 Citation [see Note 1]
2 Commencement
3 Specifications of coins
4 Application of Determination
Schedule
Part 1 Specifications of coins
Part 2 Explanation of symbols
Notes
1 Citation [see Note 1]
This Determination may be cited as the Currency Determination No. 1 of 1998.
2 Commencement
This Determination commences on 15 February 1998.
3 Specifications of coins
This Determination specifies, for a coin having the denomination and standard composition specified in columns 1 and 2 of Part 1 of the Schedule, the standard weight, the allowable variation from that weight, the dimension and the design set out in columns 3, 4 and 5 of that Part.
4 Application of Determination
This Determination does not affect any other determination of the specifications of a coin.
Schedule
(clause 3)
Part 1 Specifications of coins
Column 1 | Column 2 | Column 3 | Column 4 | Column 5 |
Denomination (and nominal weight in ounces) | Standard
composition | Standard weight and allowable
variation (g) | Dimensions | Design |
(1)
Diameter
(mm) | (2)
Thickness
(mm) | (1)
Shape | (2)
Edge | (3)
Obverse | (4)
Reverse |
$5
(1/20 oz) | Not less than 99.99% gold | 1.571 0.015 | 14.10 | 1.40 | S1 | E1 | O1 | R60 |
$15
(1/10 oz) | Not less than 99.99% gold | 3.133 0.022 | 16.10 | 1.50 | S1 | E1 | O1 | R60 |
$25
(1/4 oz) | Not less than 99.99% gold | 7.807 0.030 | 20.10 | 2.00 | S1 | E1 | O1 | R60 |
$50
(1/2 oz) | Not less than 99.99% gold | 15.594 0.040 | 25.10 | 2.40 | S1 | E1 | O1 | R60 |
$100
(1 oz) | Not less than 99.99% gold | 31.162 0.055 | 32.10 | 2.80 | S1 | E1 | O1 | R60 |
$200
(2 oz) | Not less than 99.99% gold | 62.265 0.050 | 40.60 | 4.00 | S1 | E1 | O1 | R60 |
Part 2 Explanation of symbols
Design Feature | Symbol | Explanation |
Shape | S1 | Circular |
Edge | E1 | Milled |
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, of the coin, followed by the word “DOLLARS”; that, in turn, surround an effigy of the Queen. |
Reverse | R60 | 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) ‘1998’ or ‘1999’; that, in turn, surround: (c) a representation of a joey kangaroo; and (d) either: (i) for a coin dated 1998 — the inscription ‘P’; or (ii) for a coin dated 1999 — the inscription ‘P100’; superimposed on a sunburst design. |
Notes to the Currency Determination No. 1 of 1998
Note 1
The Currency Determination No. 1 of 1998 (in force under subsection 13A (1) of the Currency Act 1965) as shown in this compilation is amended as indicated in the Tables below.
Table of Instruments
Title | Date of notification
in Gazette | Date of
commencement | Application, saving or
transitional provisions |
Currency Determination No. 1 of 1998 | 11 Feb 1998 (see Gazette 1998, No. GN6) | 15 Feb 1998 | |
Currency Determination No. 6 of 1998 | 4 Nov 1998 (see Gazette 1998, No. GN44) | 16 Oct 1998 | — |
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
Schedule | |
Schedule............. | am. 1998 No. 6 |
Overview
The Currency Determination No. 1 of 1998, made under subsection 13A(1) of the Currency Act 1965, was introduced to specify the standards and specifications for certain gold coins, particularly those with denominations ranging from $5 to $200. This determination was enacted by the Australian Parliament and addresses the need for clear and consistent standards for currency, ensuring the integrity and value of the coins. The Currency Determination No. 1 of 1998 commenced on 15 February 1998 and sets out the weight, dimensions, composition, and design features of the specified gold coins, including the allowable variations from the standard weight. This legislation ensures uniformity in the production of these coins, facilitating their recognition and acceptance within the Australian currency system.
Scope and Application
The Currency Determination No. 1 of 1998 applies to the specifications of coins with denominations ranging from $5 to $200, made under the Currency Act 1965. This legislation specifies the standard composition, weight, dimensions, and design of these gold coins, ensuring consistency and authenticity. It applies to the entities responsible for minting these coins, including the Royal Australian Mint, and covers the conduct of producing coins that meet the prescribed specifications. Geographically, the application of this Determination is nationwide, operating within the Commonwealth of Australia. The Determination does not affect any other specifications of coins, as explicitly stated, and is not amended by subordinate instruments but rather by subsequent determinations. Each coin's specifications, including allowable weight variations, diameter, thickness, shape, edge design, and both obverse and reverse designs, are meticulously detailed in the Schedule, providing clear guidelines for compliance.
Key Provisions
The Currency Determination No. 1 of 1998, under the Currency Act 1965, specifies the specifications for certain gold coins, including their denomination, composition, weight, dimensions, and design (Schedule, Part 1). The determination is effective from 15 February 1998, as stipulated in section 2, and applies to coins that meet the criteria outlined in section 3. The coins listed in the Schedule must adhere to the standards for weight, dimensions, and design as set forth in Part 1. Notably, the coins must be made from gold that is not less than 99.99% pure, with specific weights and dimensions that allow for slight variations as indicated in the Schedule. The design requirements, detailed in Part 2, include a circular shape with milled edges, specific obverse and reverse inscriptions, and images such as an effigy of the Queen and a representation of a joey kangaroo.
The obligations imposed by the Currency Determination No. 1 of 1998 are primarily on mints and other entities producing the specified coins. These entities must ensure that the coins they produce meet the precise specifications outlined in the Schedule. This includes the exact weight and allowable variations, the precise dimensions, and the adherence to the design requirements, which are meticulously detailed to ensure uniformity and quality of the coins. The mints are responsible for verifying that each coin conforms to these standards before distribution.
Breach of the specifications set forth in the Currency Determination No. 1 of 1998 can lead to serious consequences. While the determination does not explicitly state offences or penalties, the Currency Act 1965, under which this determination is made, may impose penalties for non-compliance. Such penalties can include fines or other civil or criminal sanctions. The exact penalties would depend on the specific nature and extent of the breach, but they can be significant due to the importance of maintaining the integrity of the nation's currency.