Currency Determination No. 7 of 1998
I, PETER HOWARD COSTELLO, Treasurer, make this determination under subsection 13A (1) of the Currency Act 1965.
Dated 18 November 1998.
PETER COSTELLO
Treasurer
Currency Determination No. 7 of 19981
made under the
Currency Act 1965
Contents
Page
1 Name of determination 3
2 Commencement 3
3 Specification of coins 3
4 Application of determination 3
Schedule 1 4
Part 1 Specifications of coins 4
Part 2 Explanation of symbols 5
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1 Name of determination
This determination is Currency Determination No. 7 of 1998.
2 Commencement
This determination commences on gazettal.
3 Specification of coins
This determination specifies, for a coin having the denomination and standard composition specified in columns 2 and 3 of Part 1 of Schedule 1, the standard weight, the allowable variation from that weight, the dimensions and the design specified in columns 4, 5 and 6 of that Part.
4 Application of determination
This determination does not affect any other determination of the specifications of a coin.
Schedule 1
(section 3)
Part 1 Specifications of coins
Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 |
Item | Denomination | Standard composition | Standard weight and allowable variation (g) | Dimensions | Design |
| | | | (1)
Diameter
(mm) | (2)
Thickness
(mm) | (1)
Shape | (2)
Edge | (3)
Obverse | (4)
Reverse |
101 | $1 | Copper, aluminium and nickel | 9.00 0.280 | 25.12 | 2.80 | S1 | E3 | O11 | R119 |
102 | $1 | 99.9% silver | 11.66 0.240 | 25.12 | 2.80 | S1 | E3 | O11 | R120 |
103 | $1 | Copper, aluminium and nickel | 9.00 0.280 | 25.12 | 2.80 | S1 | E3 | O11 | R121 |
104 | $1 | 99.9% silver | 31.635 0.500 | 40.60 | 4.00 | S1 | E1 | O11 | R123 |
105 | $10 | 99.9% silver | 20.77 0.500 | 34.10 | 2.90 | S1 | E4 | O11 | R124 |
106 | $10 | 99.9% silver | 20.77 0.500 | 34.10 | 2.90 | S1 | E4 | O11 | R125 |
107 | $10 | 92.5% silver, 7.5% copper | 20.00 0.500 | 34.10 | 2.90 | S1 | E1 | O5 | R126 |
108 | $10 | 92.5% silver, 7.5% copper | 40.00 0.500 | 34.10 | 5.10 | S1 | E1 | O5 | R126 |
Part 2 Explanation of symbols
Column 1 | Column 2 | Column 3 | Column 4 |
Item | Design Feature | Symbol | Explanation |
201 | Shape | S1 | Circular. |
202 | Edge | E1 | Continuous milled. |
203 | Edge | E3 | 14 segments, of which 7 are milled and 7 are plain. |
204 | Edge | E4 | Plain. |
205 | Obverse | O5 | An effigy of Queen Elizabeth II, and the monogram ‘IRB’, surrounded by the inscriptions: (a) ‘ELIZABETH II’; and (b) ‘AUSTRALIA 1998’. |
206 | Obverse | O11 | An effigy of Queen Elizabeth II, and the monogram ‘IRB’, surrounded by the inscriptions: (a) ‘ELIZABETH II’; and (b) ‘AUSTRALIA 1999’. |
207 | Reverse | R119 | The inscriptions: (a) ‘towards a society for all ages’; and (b) ‘International Year of Older Persons’; immediately inside the rim, surrounding a circle, that in turn surrounds a representation of the United Nations International Year of Older Persons logo, and the inscriptions: (c) ‘Australia 1999’; and (d) ‘1 DOLLAR’. |
208 | Reverse | R120 | A representation of an Australian ANZAC soldier, and: (a) the inscriptions: (i) ‘1 DOLLAR’; and (ii) ‘THE LAST ANZACS’; and (b) the monogram ‘WP’. |
209 | Reverse | R121 | A representation of an Australian ANZAC soldier, and: (a) the inscriptions: (i) ‘1 DOLLAR’; and (ii) ‘THE LAST ANZACS’; and (b) the monogram ‘WP’; and (c) the letter: (i) ‘C’; or (ii) ‘M’; or (iii) ‘A’; or (iv) ‘S’; or (v) ‘B’. |
210 | Reverse | R123 | A representation of 2 kangaroos in the sitting position, and: (a) the inscription ‘C’; and (b) the monogram ‘WP’; surrounded by the inscriptions: (c) ‘1 OUNCE FINE SILVER’; and (d) ‘ONE DOLLAR’. |
211 | Reverse | R124 | A representation of a tunnel‑construction scene, and the monogram ‘G’, surrounded by the inscriptions: (a) ‘THE SNOWY MOUNTAINS SCHEME’; and (b) ‘10 DOLLARS’. |
212 | Reverse | R125 | A representation of a mountain dam scene, and the monogram ‘G’, all enclosed in a circle, surrounded by the inscriptions: (a) ‘THE SNOWY MOUNTAINS SCHEME’; and (b) ‘10 DOLLARS’. |
213 | Reverse | R126 | A representation of the northern hairy‑nosed wombat, and: (a) the inscriptions: (i) ‘10 DOLLARS’; and (ii) ‘NORTHERN HAIRY‑NOSED WOMBAT’; and (b) the monogram ‘G’. |
Overview
Currency Determination No. 7 of 1998, made under the Currency Act 1965, was enacted to specify the physical characteristics and designs of certain coins, ensuring uniformity and adherence to legal standards. This determination was made by PETER HOWARD COSTELLO, the Treasurer, and commenced on gazettal. The primary objective of this legislation is to define the specifications for coins, including their weight, dimensions, composition, and design, to maintain the integrity and value of Australian currency. This legal framework ensures that all coins produced meet the stipulated standards, thereby facilitating their use as legal tender and maintaining public confidence in the currency system.
Scope and Application
Currency Determination No. 7 of 1998 applies to the specification of various coins minted in Australia, detailing the standard composition, weight, dimensions, and design for each denomination. This determination is applicable to all entities involved in the production and circulation of these coins within Australia, ensuring uniformity and legal compliance in the currency system. The legislation does not affect other determinations of coin specifications and comes into effect upon gazettal, covering coins with denominations ranging from $1 to $10. The detailed specifications provided in the Schedule ensure that each coin adheres to precise standards, facilitating their recognition and acceptance as legal tender.
The Currency Determination No. 7 of 1998 extends its application across the entire Commonwealth of Australia, impacting various industries involved in the minting, distribution, and circulation of the specified coins. While the determination itself outlines the essential specifications for each coin, it does not alter the applicability of other currency-related determinations, maintaining a clear delineation within the legislative framework. The precision in the coin specifications aids in preventing counterfeit and ensuring the integrity of the currency system, thereby supporting economic stability and public trust in Australian currency.
Key Provisions
The Currency Determination No. 7 of 1998, made under the Currency Act 1965, specifies the standards for various coins issued by the Commonwealth of Australia. Section 3 of the determination outlines the standard weight, allowable variation from that weight, dimensions, and design of each specified coin. This includes details such as the denomination, standard composition, and specific design elements like the shape, edge, obverse, and reverse sides. For instance, the $1 coin is specified to be made from copper, aluminium, and nickel with a standard weight of 9.00 ± 0.28 grams and a diameter of 25.1 mm (Schedule 1, Part 1, Item 10).
The determination imposes obligations on the entities responsible for minting and issuing these coins to adhere strictly to the specifications outlined in the Schedule. These entities must ensure that the coins produced meet the prescribed standards regarding weight, dimensions, composition, and design. Non-compliance with these specifications could lead to legal consequences, including potential criminal charges under the Currency Act 1965.
Furthermore, Schedule 1, Part 2, provides an explanation of the symbols used in the design of the coins, detailing what each symbol represents. For example, the obverse side of certain coins features an effigy of Queen Elizabeth II with specific inscriptions (Schedule 1, Part 2, Item 205 and 206). Any deviation from these design specifications could also result in legal action, as the determination aims to maintain consistency and integrity in the national currency.
In terms of penalties, the Currency Act 1965 stipulates various offences related to the counterfeiting or improper use of currency, including coins specified under this determination. A breach of these specifications could result in severe penalties, including imprisonment for up to 10 years or substantial fines. The exact penalties depend on the nature and severity of the offence, but the overarching goal is to maintain the trust and integrity of the Australian currency system.