Currency (Perth Mint) Determination 2000 (No. 2)

Overview

The Currency (Perth Mint) Determination 2000 (No. 2) was introduced to specify the standards and specifications of coins minted at the Perth Mint, addressing the need for precise definitions regarding the physical attributes of Australian legal tender. Enacted by the Minister for Financial Services and Regulation under the Currency Act 1965, this determination ensures consistency and accuracy in the production of coins, thereby maintaining public trust in currency. The determination explicitly outlines the standard weight, allowable variation, dimensions, and design specifications for specific coins, as detailed in Schedule 1, without overriding other coin specifications determinations. The policy objective is to provide clear and enforceable standards for the minting of coins to support the integrity and functionality of the nation's currency system.

Scope and Application

The Currency (Perth Mint) Determination 2000 (No. 2) applies to the Perth Mint and its operations in the production of specified coins under the Currency Act 1965. This legislative instrument defines the specifications for particular coins, including their denomination, standard composition, weight, dimensions, and design elements. It ensures that the coins meet the prescribed standards set by the Commonwealth of Australia. The application of this Determination is limited to the particular coins specified within its schedule, without affecting any other coin specifications determined by previous or subsequent Determinations. The Determination also amends the Currency Determination 1999 (No. 2), modifying certain design features for specific coins dated 2000 and 2001. This legislative instrument has a national jurisdictional reach, applying across Australia as it is made under the authority of the Commonwealth.

Key Provisions

The Currency (Perth Mint) Determination 2000 (No. 2) sets out the specifications for certain coins minted by the Perth Mint, including their composition, weight, dimensions, and designs. Section 3 specifies the standard weight, allowable variation from that weight, the dimensions, and the design for each coin. The coins specified in this Determination are the $2 silver coin and the $25 gold coin. These coins have particular compositions, weights, dimensions, and designs that must be adhered to as per the details provided in Schedule 1 of the Determination. Under this Determination, the Perth Mint, as well as any other mint or entity involved in the production of these coins, is required to adhere to the specifications outlined. The mint must ensure that the coins produced meet the specified standards in terms of weight, dimensions, and design. The coins must contain the specified amounts of silver or gold, and their weight must be within the allowable variation as detailed. The designs, including the obverse and reverse features, must also be replicated exactly as specified in the Determination. Breaches of the specifications outlined in this Determination could lead to legal consequences. Although the Determination itself does not explicitly state the penalties for non-compliance, contraventions of the Currency Act 1965, under which this Determination is made, could result in significant penalties. For example, under the Currency Act, a person who makes or has in their possession any counterfeit coin with intent to defraud could be liable to imprisonment for up to 10 years. Additionally, offences involving the production of coins that do not meet the specified standards could also lead to criminal charges and penalties under relevant Australian laws.