Currency Determination No. 13 of 1993

Overview

The Currency Determination No. 13 of 1993, made under the Currency Act 1965, was enacted to specify the design and specifications of a $1 silver coin with a composition that includes not less than 99.9% silver. The determination was made by Gary Johns, the Parliamentary Secretary to the Treasurer, on behalf of the Treasurer, and it came into effect on 20 November 1993. This legislative instrument aims to provide clear guidelines regarding the physical characteristics and design elements of the coin, ensuring consistency and recognisability in the currency system. It complements the broader legislative framework established by the Currency Act, addressing the need for detailed regulations concerning the production of specific denominations of Australian currency.

Scope and Application

The Currency Determination No. 13 of 1993, made under the Currency Act 1965, outlines specific specifications and design for a $1 silver coin with a standard composition of at least 99.9% silver. This determination applies to the physical attributes and imagery of the coin, including its shape, weight, diameter, thickness, and the detailed designs on both the obverse and reverse sides. It specifies that the coin must be circular, with a standard weight of 31.635 grams, a permissible variation of 0.5 grams, a diameter of 40.60 millimetres, and a thickness of 4.00 millimetres. The edge of the coin is described as having 12 segments, with 6 being coarse milled and 6 plain. The obverse side of the coin must feature an effigy of Queen Elizabeth II, along with the inscriptions "ELIZABETH II", "AUSTRALIA", and "1993", while the reverse side must display a representation of a leaping kangaroo, and the inscriptions "ONE DOLLAR" and "1 OUNCE FINE SILVER". This determination applies nationally within Australia and does not affect any other determinations regarding coin specifications or design.

Key Provisions

Currency Determination No. 13 of 1993 specifies the detailed characteristics of a $1 silver coin, including its composition, shape, and design. According to clause 4(1), the coin must be composed of at least 99.9% silver. Clause 4(2) describes the coin as circular, with clause 4(3) detailing that the coin's edge is segmented into twelve parts, six of which are coarse milled and six plain. The standard weight of the coin, as outlined in clause 4(4), is 31.635 grams, with a permissible variation of up to 0.5 grams as specified in clause 4(5). Clause 4(6) sets the diameter of the coin at 40.60 millimetres, while clause 4(7) specifies a thickness of 4.00 millimetres. The obverse side of the coin, described in clause 4(8), features an effigy of the Queen and inscriptions reading "ELIZABETH II", "AUSTRALIA", and "1993". The reverse side, detailed in clause 4(9), includes a representation of a leaping kangaroo and inscriptions reading "ONE DOLLAR" and "1 OUNCE FINE SILVER". The Currency Determination No. 13 of 1993 imposes specific obligations on the minting and production of the $1 silver coin. Mints and manufacturers are required to adhere strictly to the specifications outlined in the Determination. This includes ensuring that the coins are made of at least 99.9% silver, have the specified weight, diameter, and thickness, and bear the prescribed designs on both the obverse and reverse sides. The design requirements must be meticulously followed, including the effigy of the Queen, the inscriptions, and the representation of the leaping kangaroo. Failure to comply with the specifications and design requirements outlined in Currency Determination No. 13 of 1993 can result in legal consequences. Although the Determination does not explicitly state penalties, breaches of the Currency Act 1965 generally attract civil and criminal penalties. Under section 13 of the Currency Act, any person found to be in breach of the Act can be subject to a penalty, including fines and imprisonment. The exact penalties would depend on the nature and severity of the breach, but it is clear that non-compliance is taken seriously to maintain the integrity and legal tender status of Australian currency.