Currency Determination No. 2 of 1998

Administered by Department of the Treasury

Legislation au F2008B00123 In force Legislative Instrument

Legislation content

Commonwealth of Australia

Currency Act 1965

Currency Determination No. 2 of 1998

I, RODERICK CHARLES KEMP, Assistant Treasurer, acting for the Treasurer, make this Determination under subsection 13A (1) of the Currency Act 1965.

Dated 4 March 1998.

 

C. R. KEMP

Assistant Treasurer

 

Name of Determination

 1. This Determination is the Currency Determination No. 2 of 1998.

Commencement

 2. This Determination commences on 20 March 1998.

Specification of coins

 3. 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 dimensions and the design set out in columns 3, 4 and 5 of that Part.

Application of Determination

 4. 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

 

Standard

composition

 

Standard weight and allowable

 

Dimensions

 

Design

weight in ounces)

 

variation (g)

(1)
Diameter
(mm)

(2)
Thickness
(mm)

(1)
Shape

(2)
Edge

(3)
Obverse

(4)
Reverse

$1
 (1 oz)

Not less than 99.9% silver

31.635 0.500

40.60

4.00

S1

E2

O1

R63

$2
(2 oz)

Not less than 99.9% silver

62.770 0.500

50.30

4.50

S1

E2

O1

R63

$2
(2 oz)

Not less than 99.9% silver

62.770 0.500

50.30

4.50

S1

E2

O1

R64

$2
(2 oz)

Not less than 99.9% silver

62.770 0.500

50.30

4.50

S1

E2

O1

R65

$2
(2 oz)

Not less than 99.9% silver

62.770 0.500

50.30

4.50

S1

E2

O1

R66

$2
(2 oz)

Not less than 99.9% silver

62.770 0.500

50.30

4.50

S1

E2

O1

R67

$5
(1/20 oz)

Not less than 99.95% platinum

1.571 0.015

14.10

1.40

S1

E1

O1

R68

$10

Not less than 99.9% silver

20.770 0.500

34.10

2.90

S1

E4

O2

R61

$10

Not less than 99.9% silver

20.770 0.500

34.10

2.90

S1

E4

O2

R62

$10
(10 oz)

Not less than 99.9% silver

321.347 1.00

75.50

8.70

S1

E2

O1

R63

$15
(1/10 oz)

Not less than 99.95% platinum

3.137 0.025

16.10

1.32

S1

E1

O1

R68

$25
(1/4 oz)

Not less than 99.95% platinum

7.815 0.035

20.10

1.90

S1

E1

O1

R68

$30

Not less than 99.9% silver

1002.502 1.50

101.00

14.60

S1

E2

O1

R69

$50
(1/2 oz)

Not less than 99.95% platinum

15.605 0.045

25.10

2.30

S1

E1

O1

R68

Column 1

 

Column 2

Column 3

Column 4

Column 5

 

Denomination (and nominal

 

Standard

composition

 

Standard weight and allowable

 

Dimensions

 

Design

weight in ounces)

 

variation (g)

(1)
Diameter
(mm)

(2)
Thickness
(mm)

(1)
Shape

(2)
Edge

(3)
Obverse

(4)
Reverse

$100
(1 oz)

Not less than 99.95% platinum

31.185 0.065

32.10

2.70

S1

E1

O1

R68

$200
(2 oz)

Not less than 99.95% platinum

62.313 0.075

40.60

3.80

S1

E1

O1

R68

 

PART 2—EXPLANATION OF SYMBOLS

 

Design Feature

Symbol

 Explanation

Shape

S1

Circular

Edge

E1

Milled

Edge

E2

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

Edge

E4

Plain

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 “DOLLAR” or “DOLLARS”, as the case requires;

that, in turn, surround an effigy of the Queen.

Obverse

O2

An effigy of the Queen, surrounded by the inscriptions:

 (a) “ELIZABETH II”; and

 (b) “AUSTRALIA”; and

 (c) “1998”.

Reverse

R61

A representation of the Melbourne Cricket Ground, enclosed in a circle, surrounded by the inscriptions:

 (a) “MELBOURNE CRICKET GROUND”; and

 (b) “10 DOLLARS”.

 

Design Feature

Symbol

Explanation

Reverse

R62

A representation of a tram car against a background of a representation of the Melbourne Art Centre building, all enclosed in a circle, surrounded by the inscriptions:

 (a) “MELBOURNE”; and

 (b) “10 DOLLARS”.

Reverse

R63

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

 (a) “THE AUSTRALIAN KOOKABURRA 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); and

 (b) “1998” or “1999”;

that, in turn, surround:

 (c) a representation of 2 kookaburras perched on a branch; and

 (d) the letter “P”.

Reverse

R64

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

 (a) “THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER”; and

 (b) “1998”;

that, in turn, surround:

 (c) a representation of 2 kookaburras perched on a branch; and

 (d) the letter “P”; and

 (e) 2 overlapping circles enclosing, in gold cameo, a representation of the obverse and reverse of a Jubilee sovereign dated 1887.

Reverse

R65

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

 (a) “THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER”; and

 (b) “1998”;

that, in turn, surround:

 (c) a representation of 2 kookaburras perched on a branch; and

 (d) the letter “P”; and

 (e) 2 overlapping circles enclosing, in gold cameo, a representation of the obverse and reverse of a Sydney Mint sovereign dated 1855.

Reverse

R66

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

 (a) “THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER”; and

 (b) “1998”;

that, in turn, surround:

 (c) a representation of a kookaburra perched on a fence; and

 (d) 2 overlapping circles enclosing, in gold cameo, a representation of the obverse and reverse of a Shield sovereign dated 1871.


Design Feature

Symbol

 Explanation

Reverse

R67

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

 (a) “THE AUSTRALIAN KOOKABURRA 2 OZ. 999 SILVER”; and

 (b) “1998”;

that, in turn, surround:

 (c) a representation of a kookaburra perched on a fence; and

 (d) 2 overlapping circles enclosing, in gold cameo, a representation of the obverse and reverse of a St George sovereign dated 1871.

Reverse

R68

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) “1998” or “1999”;

that, in turn, surround:

 (c) a representation of a koala sitting on a tree stump; and

 (d) the letter “P”.

Reverse

R69

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

 (a) “THE AUSTRALIAN KOOKABURRA 1 KILO 999 SILVER”; and

 (b) “1998”;

that, in turn, surround:

 (c) a representation of 2 kookaburras perched on a branch; and

 (d) the letter “P”.

 

 

 

 

Overview

The Currency Determination No. 2 of 1998 is a legislative instrument made under the Currency Act 1965 by the Assistant Treasurer on behalf of the Treasurer. The determination specifies the technical specifications for various denominations of Australian coins, including their standard weight, allowable variations, dimensions, and design features. This instrument was introduced to address the need for clear and detailed specifications to ensure the consistent production and quality of Australian currency. The determination does not affect any other determination of the specifications of a coin. The policy objective of this determination is to maintain the integrity and uniformity of Australia's currency by providing precise standards for coin production. The Currency Determination No. 2 of 1998 outlines the design and physical characteristics for different coin denominations, ranging from one dollar to two hundred dollars. Each coin's specifications include its standard weight, allowable variations, diameter, thickness, and design features such as shape, edge, and both obverse and reverse inscriptions and images. These detailed specifications ensure that each coin meets the required standards for circulation and legal tender. This determination, effective from 20 March 1998, was made to provide clarity and consistency in the minting process, facilitating the production of high-quality coins that are reliable and recognisable as legal tender.

Scope and Application

The Currency Determination No. 2 of 1998, made under the Currency Act 1965, specifies the standard weight, allowable variation from that weight, dimensions and design for various coins issued in Australia. This Determination applies to the coins listed in Part 1 of the Schedule, detailing their denomination, standard composition, weight, dimensions, and design. The Determination does not affect any other determination of the specifications of a coin, thereby maintaining the integrity and distinctness of each coin's characteristics. Its application is nationwide, encompassing all entities and individuals dealing with these coins within the Australian jurisdiction. There are no stated exclusions, exemptions, or thresholds in this Determination, and it does not extend or restrict its application through subordinate instruments.

Key Provisions

The Currency Determination No. 2 of 1998 specifies the standards for the physical attributes of certain Australian coins. Under section 3 of this Determination, the document details the required composition, weight, dimensions, and design for coins with specific denominations. For example, a $1 coin must be made of not less than 99.9% silver, with a standard weight of 31.635 grams and an allowable variation of ±0.500 grams. The coin's diameter must be 40.60 mm, and it must have a thickness of 4.00 mm. The design features include a circular shape, milled edge, and specific obverse and reverse inscriptions and images. The obligations imposed by this Determination are primarily on mints and other entities responsible for producing Australian coins. They must ensure that the coins they produce meet the specified standards outlined in the Determination. This includes adhering to the correct composition percentages, weight and dimension specifications, and design features. Any entity found to be producing coins that do not meet these specifications could face legal consequences. There are no specific offences, penalties, or civil/criminal consequences outlined in the Currency Determination No. 2 of 1998 itself. However, producing coins that do not meet the specified standards could result in legal action under the Currency Act 1965 or other relevant legislation. The penalties for such offences would depend on the specific circumstances and the relevant legislation being applied. It is important for entities producing Australian coins to adhere to the standards set out in this Determination to avoid any potential legal consequences.

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Currency Law
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Legislative Instrument
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Definitions & Interpretation
Commencement Provisions
Specification of coins

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