Currency (Perth Mint) Determination 2001 (No. 1)
I, JOE HOCKEY, Minister for Financial Services and Regulation, make this Determination under subsection 13A (1) of the Currency Act 1965.
Dated 20 April 2001
JOE HOCKEY
Minister for Financial Services and Regulation
Contents
Page
1 Name of Determination
2 Commencement
3 Specification of coins
4 Application of Determination
Schedule 1
Part 1 Specifications of coins
Part 2 Explanation of symbols
1 Name of Determination
This Determination is the Currency (Perth Mint) Determination 2001 (No. 1).
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
The specifications in this Determination do 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 (and, where relevant, nominal weight in ounces or kilograms) | Standard composition | Standard weight and allowable variation (g) | Dimensions | Design |
(1)
Diameter
(mm) | (2)
Thickness
(mm) | (1)
Shape | (2)
Edge | (3)
Obverse | (6)
Reverse |
101 | $20 | Bi-metallic: (a) centre piece – 99.99% gold (b) surround – 99.9% silver | 13.40 0.500 | 32.10 | 1.80 | S1 | E1 | O23 | R264 |
102 | $5 | Not less than 99.9% silver | 31.635 0.500 | 40.50 | 4.00 | S1 | E1 | O23 | R265 |
103 | $5 | Mixture of: (a) 5% aluminium; and (b) 5% zinc; and (c) 1% tin; and (d) 89% copper | 20.00 | 38.74 | 2.55 | S1 | E1 | O23 | R266 |
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 | Milled |
203 | Edge | E2 | 8 segments, of which 4 are milled and 4 are plain |
204 | Obverse | O23 | A circle of raised beads, immediately inside the rim, enclosing: (a) the inscriptions: (i) ‘ELIZABETH II’; and (ii) ‘AUSTRALIA 2001’; and (b) an inscription stating, in Arabic numerals, the amount, in dollars or cents, of the denomination of the coin, followed by the word ‘DOLLAR’, ‘DOLLARS’ or ‘CENTS’, as the case requires; that, in turn, surround an effigy of Queen Elizabeth II, and the monogram ‘IRB’. |
205 | Reverse | R264 | A silver annulus bearing the inscription ‘SIR DONALD BRADMAN 1908–2001’, surrounding a gold disc bearing a bust of Sir Donald Bradman wearing a baggy green cap. |
206 | Reverse | R265 | The inscriptions: (a) ‘1908 SIR DONALD BRADMAN 2001’; and (b) a representation of Sir Donald Bradman in cover drive pose with cricket stumps in the background. |
207 | Reverse | R266 | The inscriptions: (a) ‘1908 SIR DONALD BRADMAN 2001’; and (b) a representation of Sir Donald Bradman in pull shot pose with cricket stumps in the background. |
Overview
The Currency (Perth Mint) Determination 2001 (No. 1) was made by Joe Hockey, the Minister for Financial Services and Regulation, under the authority granted by subsection 13A(1) of the Currency Act 1965. This legislation was introduced to provide specific specifications for certain coins to be minted by the Perth Mint. The Currency Act 1965 is the primary piece of legislation governing the production, distribution, and legal tender status of Australian currency, and the Currency (Perth Mint) Determination 2001 (No. 1) serves to supplement the act by detailing the physical attributes of particular commemorative coins. The policy objective is to ensure the consistency and quality of the coins produced, maintaining their value and integrity as legal tender. This Determination came into effect upon its gazettal, setting out the standards for weight, dimensions, and design of the coins specified in the accompanying schedule.
Scope and Application
The Currency (Perth Mint) Determination 2001 (No. 1) establishes the specifications for certain Australian coins minted by the Perth Mint. It applies to coins with the specific denomination, standard composition, weight, dimensions, and design as outlined in Schedule 1 of the Determination. This instrument does not affect any other Determination of coin specifications. The Determination applies nationally as it is made under the Commonwealth's Currency Act 1965 and is effective from the date of its gazettal. There are no stated exclusions or exemptions within the Determination itself, though compliance with other applicable laws and regulations would naturally be required. The Determination may be supplemented or further defined by subordinate instruments or regulations, which would provide additional detail or address specific operational aspects not covered in this primary legislative instrument.
Key Provisions
The Currency (Perth Mint) Determination 2001 (No. 1) provides the specifications for certain coins issued by the Perth Mint, detailing their composition, weight, dimensions, and design (sections 3 and 4). This Determination applies to coins with specific denominations and standard compositions as listed in Part 1 of Schedule 1. For instance, for a $2 coin, it specifies that the coin should be bi-metallic, with a centre piece made of 99.99% gold and a surround of 99.9% silver, with a standard weight of 13.40 grams with an allowable variation of ±0.50 grams, a diameter of 32.10 mm, a thickness of 1.80 mm, and particular design elements on both the obverse and reverse sides.
The Determination imposes clear obligations on the Perth Mint regarding the specifications of the coins it produces. The Mint must adhere strictly to the outlined standards for weight, dimensions, and design as provided in Schedule 1. This includes ensuring the correct composition of materials, maintaining precise weight within the allowable variations, and adhering to specific design features such as shape, edge, and the inscriptions and images on the obverse and reverse sides of the coins.
Failure to comply with the specifications outlined in this Determination may result in legal consequences. Although the Determination itself does not explicitly detail offences, penalties, or civil/criminal consequences for non-compliance, breaches of the Currency Act 1965, under which this Determination is made, could lead to penalties. For example, under section 160 of the Currency Act, any person who makes or has in their possession any coin that does not comply with the prescribed specifications could face penalties, including fines and potential imprisonment, as determined by the courts. The specific penalties would be governed by the broader provisions of the Currency Act and any applicable regulations or subsidiary legislation.