Commonwealth of Australia
Currency Act 1965
Currency Determination No. 3 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 12 March 1998.
C.R KEMP
Assistant Treasurer
Name of Determination
1. This Determination is Currency Determination No. 3 of 1998.
Commencement
2. This Determination commences on 1 April 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 | Standard composition | Standard weight and allowable | Dimensions | Design |
| | variation (g) | (1)
Diameter
(mm) | (2)
Thickness
(mm) | (1)
Shape | (2)
Edge | (3)
Obverse | (4)
Reverse |
$5 | Copper, zinc, aluminium, tin | 20.000 0.500 | 38.90 | 2.65 | S1 | E1 | O3 | R70 |
$5 | Copper, zinc, aluminium, tin | 20.000 0.500 | 38.90 | 2.65 | S1 | E1 | O3 | R71 |
$5 | Copper, zinc, aluminium, tin | 20.000 0.500 | 38.90 | 2.65 | S1 | E1 | O3 | R72 |
$5 | 99.9% silver | 31.635 0.500 | 40.60 | 4.00 | S1 | E5 | O4 | R73 |
$5 | 99.9% silver | 31.635 0.500 | 40.60 | 4.00 | S1 | E5 | O4 | R74 |
$100 | 99.99% gold | 10.021 0.020 | 25.10 | 2.40 | S1 | E1 | O4 | R75 |
|
PART 2—EXPLANATION OF SYMBOLS
Design Feature | Symbol | Explanation |
Shape | S1 | Circular |
Edge | E1 | Continuous milled |
Edge | E5 | Plain edge with the inscription “GAMES OF THE XXVII OLYMPIAD” (twice appearing) evenly spaced around the edge to read with the reverse of the coin facing up. |
Obverse | O3 | An effigy of the Queen, surrounded by the inscriptions: (a) “ELIZABETH II”; and (b) “AUSTRALIA 2000”. |
Obverse | O4 | An effigy of the Queen, surrounded by: (a) the inscriptions: (i) “ELIZABETH II”; and (ii) “AUSTRALIA 2000”; and (b) an inscription stating, in Arabic numerals, the amount in dollars of the denomination of the coin, followed by the word “DOLLARS”. |
Reverse | R70 | A representation of a football player striking at a football superimposed on a representation of Olympic flames, surrounded by: (a) the inscriptions: (i) “Sydney 2000”; and (ii) “5 DOLLARS”; and (b) a representation of the Olympic rings. |
Reverse | R71 | A representation of a triathlete emerging from the water superimposed on a representation of Olympic flames, surrounded by: (a) the inscriptions: (i) “Sydney 2000”; and (ii) “5 DOLLARS”; and (b) a representation of the Olympic rings. |
Reverse | R72 | A representation of a cyclist riding a bicycle superimposed on a representation of Olympic flames, surrounded by: (a) the inscriptions: (i) “Sydney 2000”; and (ii) “5 DOLLARS”; and (b) a representation of the Olympic rings. |
Reverse | R73 | A circle, immediately inside the ring, comprising: (a) representations of coral; and (b) a tablet, enclosing: (i) the inscription “Sydney 2000”; and (ii) a representation of the Olympic rings in Olympic colours; and surrounding: (c) a representation of 2 great white sharks; and (d) the letter “C”. |
Reverse | R74 | A circle, immediately inside the ring, comprising: (a) representations of sailing ships; and (b) a tablet, enclosing: (i) the inscription “Sydney 2000”; and (ii) a representation of the Olympic rings in Olympic colours; and surrounding: (c) a motif border, surrounding: (i) a representation of Australia with superimposed figures, footprints and motifs; and (ii) the letter “C”. |
Reverse | R75 | Representations of elements of an traditional analog stopwatch and a modern digital heart‑rate monitor, and the inscription “DEDICATION”, arranged in a circle, immediately inside the rim, enclosing: (a) a representation of a tracksuit‑clad athlete training in the rain; and (b) the letter “P”; and (c) a tablet, enclosing: (i) the inscription “Sydney 2000”; and (ii) a representation of the Olympic rings. |
Overview
The Currency Determination No. 3 of 1998 is a legislative instrument made under the Currency Act 1965. This Determination was enacted to address the need to specify the design, weight, composition, and dimensions of certain commemorative coins issued by the Commonwealth of Australia. The Currency Act 1965 provides the legal framework for the issuance of Australian currency and the regulation of its use. The policy objective behind this Determination is to ensure consistency and quality in the production of commemorative coins, which are intended to celebrate significant national events, such as the Sydney 2000 Olympics. By detailing the specifications for these coins, the Determination helps maintain the integrity of Australia's currency system and provides collectors and the public with coins that meet specific standards.
Scope and Application
The Currency Determination No. 3 of 1998, made under the Currency Act 1965, specifies the standards and design details for certain coins, including their weight, dimensions, composition, and design elements. This legislation applies to the production and circulation of coins within Australia and sets forth precise specifications for the coins' physical attributes and aesthetic features. The determination delineates the allowable variations in weight and dimensions, alongside the specific compositions for different denominations, ranging from copper-based to precious metals like gold and silver. The scope of this determination is limited to the coins listed in the schedule and does not affect other coins or their specifications. Additionally, the determination does not extend its application to any other determinations regarding coin specifications, thereby maintaining a clear delineation between various coin types and their respective standards.
Key Provisions
This Currency Determination No. 3 of 1998, made under the Currency Act 1965, specifies the standards for various coins, including their denomination, composition, weight, dimensions, and design. The coins specified include five-dollar coins in copper, zinc, aluminium, and tin, five-dollar coins in 99.9% silver, and one-hundred-dollar coins in 99.99% gold. Each coin type has a set standard weight with an allowable variation, diameter, thickness, shape, edge design, and both obverse and reverse designs. For instance, the five-dollar coin in copper, zinc, aluminium, and tin has a standard weight of 20.000 ± 0.500 grams, a diameter of 38.90 mm, a thickness of 2.65 mm, a circular shape, a continuous milled edge, and an obverse design featuring an effigy of the Queen with inscriptions “ELIZABETH II” and “AUSTRALIA 2000,” and a reverse design depicting a football player striking a football with inscriptions “Sydney 2000” and “5 DOLLARS,” among other elements.
The Currency Determination imposes specific obligations on the minting authorities and coin manufacturers to adhere to the detailed specifications outlined in the document. These obligations include ensuring that the coins meet the specified weight, dimensions, design, and composition requirements. The minting authorities must produce coins that align precisely with the standards set out in the Determination, including the allowable variations in weight and the exact dimensions and designs for both the obverse and reverse sides of the coins. The design elements must be accurately reproduced, and the inscriptions must be clear and legible.
Breach of the standards specified in this Determination could result in various consequences. While the Determination does not explicitly list offences or penalties, non-compliance with the stringent specifications could lead to legal actions under the Currency Act 1965. This might include civil penalties for producing substandard coins or criminal charges for knowingly issuing coins that do not meet the legal requirements. The penalties for such offences could vary, but they are likely to be significant given the regulatory nature of currency and coinage standards. The exact penalties would be determined by the courts based on the specific circumstances of the breach and the potential impact on the public.