Currency Determination No. 6 of 1992

Overview

The Currency Determination No. 6 of 1992 is a legislative instrument made under the Currency Act 1965, aimed at defining the specifications and designs for the $25 coins commemorating the 40th anniversary of Queen Elizabeth II's reign. Enacted by the Commonwealth of Australia, this determination was introduced to provide detailed guidelines on the physical attributes, composition, and designs of these commemorative coins. The objective is to ensure consistency and recognisability in the production and circulation of these coins. The determination outlines the shape, weight, dimensions, composition, and both obverse and reverse designs of the Princess Margaret, Princess of Wales, Princess Royal, and Queen Mother coins, setting a legal framework for their minting and distribution.

Scope and Application

Currency Determination No. 6 of 1992 applies to the specifications, composition, design, and issue price of the $25 coins minted under the Currency Act 1965. The Determination specifies the legal tender status and characteristics of four different $25 coins: the Princess Margaret coin, the Princess of Wales coin, the Princess Royal coin, and the Queen Mother coin. These coins are part of the Australian currency and are recognised as legal tender throughout the Commonwealth of Australia, with their issue and use governed by the Currency Act. The Determination sets out the physical specifications, such as shape, weight, diameter, thickness, and composition, as well as the design elements for each coin, ensuring uniformity and legal compliance in their production and circulation. There are no stated exclusions or exemptions in this Determination, and it extends the application of the Currency Act by providing detailed specifications for the $25 coins.

Key Provisions

The Currency Determination No. 6 of 1992, made under the Currency Act 1965, sets forth detailed specifications and designs for $25 coins minted in Australia. Specifically, section 3 of the Determination modifies the Act to include references to specific compositions of $25 coins, such as gold, platinum, and a silver alloy. The shape and edge of these coins are defined in section 4, specifying that the coins are circular with milled edges. Section 5 details the composition of the $25 coins, which must be 92.5% silver and 7.5% other metal. Section 6 outlines the weight and dimensions, with a standard weight of 33.63 grams and a permissible variation of 0.65 grams, a diameter of 38.90 millimetres, and a thickness of 3.10 millimetres. The Determination further delineates the design elements for four distinct $25 coins commemorating different members of the Royal Family. Sections 7 to 10 describe the obverse and reverse designs for the Princess Margaret, Princess of Wales, Princess Royal, and Queen Mother coins, respectively. Each coin features an effigy of Queen Elizabeth II on the obverse, accompanied by inscriptions such as "ELIZABETH II" and "AUSTRALIA 1992." The reverse of each coin showcases an effigy of the respective royal member, surrounded by a circle of crowns, with inscriptions such as "ELIZABETH II 40TH ANNIVERSARY" and "25 DOLLARS." Under the Currency Act 1965, the Determination imposes specific obligations on entities responsible for minting and issuing these coins. These entities must adhere to the detailed specifications regarding the shape, edge, composition, weight, dimensions, and design of the coins as outlined in the Determination. Failure to comply with these specifications could render the coins non-compliant with legal standards, potentially affecting their legal tender status and market acceptance. The Determination does not explicitly state any offences, penalties, or consequences for breaches of its provisions within the text. However, given the context of the Currency Act 1965 and common legislative practices, non-compliance with such detailed specifications could lead to legal actions for producing counterfeit or substandard currency, which carries severe criminal penalties. These could include substantial fines and imprisonment, as outlined under the Currency Act for producing or distributing counterfeit currency.