Currency Determination No. 9 of 1993

Overview

The Currency Determination No. 9 of 1993, made under the Currency Act 1965, addresses the specifications and design of a $1 coin composed of not less than 99.9% silver. Enacted by the Commonwealth of Australia, this legislative instrument was designed to provide clear guidelines on the physical attributes of the $1 coin, ensuring consistency and quality in its production. The determination outlines specific details such as the coin’s circular shape, milled edge, standard weight of 31.635 grams with a permissible variation of 0.500 grams, and dimensions including a diameter of 40.60 millimetres and a thickness of 4.00 millimetres. Additionally, it specifies the design elements on both the obverse and reverse sides, aiming to maintain the integrity and recognisability of Australia's currency. This determination ensures that the $1 coin meets the required standards for circulation, thereby addressing any potential gaps in the specifications of the coin as previously outlined by the Currency Act 1965.

Scope and Application

The Currency Determination No. 9 of 1993 applies to the specifications and design of a $1 coin that is minted with a standard composition of not less than 99.9% silver. This legislation is a subordinate instrument under the Currency Act 1965 and is made by the Parliamentary Secretary to the Treasurer, acting for the Treasurer. The determination applies nationally and governs the physical attributes of the coin, including its circular shape, milled edge, standard weight of 31.635 grams with a permissible variation of 0.500 grams, diameter of 40.60 millimetres, and thickness of 4.00 millimetres. The coin's obverse features an effigy of the Queen along with the inscriptions "ELIZABETH II", "AUSTRALIA", and "1993", while the reverse showcases a leaping kangaroo with the inscriptions "ONE DOLLAR" and "1 OUNCE FINE SILVER". This determination does not alter any other specifications or design determinations of coins under the Currency Act 1965.

Key Provisions

The Currency Determination No. 9 of 1993 under the Currency Act 1965 (section 3) specifies the detailed characteristics of a $1 coin, including its material, shape, weight, diameter, thickness, and design elements. The coin must have a standard composition of not less than 99.9% silver (section 3(1)), be circular in shape (section 3(2)), have a milled edge (section 3(3)), weigh 31.635 grams with an allowable variation of 0.500 grams (section 3(4) and (5)), have a diameter of 40.60 millimetres (section 3(6)), and a thickness of 4.00 millimetres (section 3(7)). The obverse side of the coin is to feature an effigy of the Queen and the inscriptions "ELIZABETH II", "AUSTRALIA", and "1993" (section 3(8)(a) and (b)). The reverse side will display a representation of a leaping kangaroo along with the inscriptions "ONE DOLLAR" and "1 OUNCE FINE SILVER" (section 3(9)(a) and (b)). This Determination does not alter any other specifications or designs of coins (section 10). The Currency Determination imposes specific obligations on the minting and distribution of the $1 coins. It mandates that all coins minted under this Determination must adhere to the specifications outlined in section 3. This includes the exact composition, physical dimensions, weight, and design elements on both the obverse and reverse sides of the coin. Minting entities must ensure that the coins meet these precise standards to avoid any non-compliance issues. Failure to comply with the specifications and design outlined in the Currency Determination may result in legal repercussions. Although the specific penalties are not detailed within this Determination, breaches of the Currency Act 1965 generally incur civil or criminal penalties, including fines and imprisonment, depending on the severity and intent of the breach. The precise penalties would be determined in accordance with other provisions within the Currency Act or related legislation.