Currency Determination No. 12 of 1993

Overview

The Currency Act 1965 was enacted to provide for the issuance of Australian currency and the regulation of its design and specifications. This Act was introduced to address the need for a comprehensive legal framework governing the issuance and control of currency in Australia, ensuring it meets national standards and requirements. The Currency Determination No. 12 of 1993, made by the Parliamentary Secretary to the Treasurer, further refines the specifications and designs for certain coins, including the $1, $2, and $25 coins, to ensure consistency and quality. This legislative instrument aims to maintain public trust in the currency by standardising the physical attributes and designs of coins in circulation. The Currency Determination No. 12 of 1993 specifies the exact composition, weight, diameter, thickness, and both obverse and reverse designs for these coins, ensuring they meet the required standards and are easily identifiable.

Scope and Application

The Currency Determination No. 12 of 1993, made under the Currency Act 1965, specifies the design and composition of certain coins within the Australian currency system. This legislation applies to the entities responsible for minting and issuing these coins, and it pertains to the physical attributes and design elements of the specified coins. The geographic reach of this Act is national, as it applies throughout the Commonwealth of Australia. The Determination details the specifications and design of $1, $2, and $25 coins, including aspects such as their shape, weight, composition, and both obverse and reverse designs. This Determination does not affect other determinations of coin specifications or designs and replaces previous Determinations Nos. 5, 6, and 8 of 1993.

Key Provisions

Currency Determination No. 12 of 1993 provides detailed specifications and designs for three types of Australian coins: a $1 silver coin, a $2 silver coin, and a $25 gold coin. Section 4 outlines the specifications and design of a $1 coin, which is made from a standard composition of 92.5% silver and 7.5% other metal. The coin is circular, milled at the edge, and weighs 11.490 grams with a permissible variation of 0.230 grams. Its diameter is 25.12 millimetres and thickness is 2.80 millimetres. The obverse features an effigy of the Queen and inscriptions including “ELIZABETH II”, “AUSTRALIA”, and “1993”. The reverse displays a stylised tree, the Landcare Australia logo, and the inscription “1 DOLLAR”. Section 5 and Section 6 specify the design and specifications for two different $2 silver coins, each with a standard composition of at least 99.9% silver. Both coins are circular, with edges consisting of alternating coarse milled and plain segments. Each coin weighs 62.770 grams with a permissible variation of 0.5 grams, has a diameter of 50.3 millimetres, and a thickness of 4.5 millimetres. The obverse of these coins features an effigy of the Queen, inscriptions “ELIZABETH II”, “AUSTRALIA”, and “2 DOLLARS”, all encircled by raised beads. The reverses differ slightly, with one coin depicting a kookaburra, Australian flora, and a representation of the “Stewart & Hemmant Penny”, while the other shows a kookaburra, Australian flora, and a representation of the “Port Phillip Kangaroo 1/4 Ounce Gold Pound”, both with the inscription “THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER” and “1993”. Section 7 describes the specifications and design for four $25 gold coins, each with a standard composition of at least 99.99% gold. These coins are circular, milled at the edge, and weigh 7.85 grams with a permissible variation of 0.07 grams. Their diameter is 22.60 millimetres and thickness is 1.30 millimetres. The obverse bears an effigy of the Queen and inscriptions “ELIZABETH II”, “AUSTRALIA”, and “1993”. The reverse features an effigy of one of four royal figures, each surrounded by a circle of crowns, along with the inscriptions “ELIZABETH II”, “40TH ANNIVERSARY”, and “25 DOLLARS”. The Act imposes specific obligations on the minting and issuing of these coins, ensuring that they adhere to the detailed specifications and designs outlined in the Determination. The coins must meet the exact metal composition, weight, diameter, thickness, and design features as prescribed. Failure to comply with these specifications and design requirements can result in legal consequences, though the exact nature of these consequences is not detailed within the Determination itself. However, under the Currency Act 1965, counterfeiting or knowingly possessing or dealing in counterfeit currency can lead to substantial penalties, including fines and imprisonment.