Currency (Perth Mint) Determination 2001 (No. 3)

Overview

The Currency (Perth Mint) Determination 2001 (No. 3) was enacted in 2001 under the authority of the Currency Act 1965, providing a legislative framework for the specifications of a $30 coin minted by the Perth Mint. This legislation was introduced to address the need for a standardised set of specifications for coins produced by the Perth Mint, ensuring consistency and quality in the production of legal tender. The Currency Act 1965, enacted by the Australian Parliament, serves as the foundational statute governing the currency of Australia, and this determination supplements the Act by detailing the specific requirements for the $30 coin. The primary policy objective of this determination is to maintain the integrity and value of the currency by ensuring that all coins meet precise standards in terms of composition, weight, dimensions, and design. This legislation is intended to uphold public confidence in the currency by guaranteeing that each coin produced adheres to the stipulated specifications.

Scope and Application

The Currency (Perth Mint) Determination 2001 (No. 3) applies specifically to a $30 coin minted by the Perth Mint and outlines the specifications for this coin's composition, weight, dimensions, and design. It is made under the authority of the Currency Act 1965 and is effective from the date of its gazettal. The Determination provides detailed specifications regarding the coin's standard weight, allowable variation, dimensions, and design elements, including the obverse and reverse sides, which are set out in the attached Schedule 1. The coin must be made of at least 99.9% silver, with an exception for the gold cameo on the reverse side. The specifications in this Determination apply solely to this particular coin and do not affect any other coin specifications. Any broader application or modifications to the scope of the Determination are typically addressed through subordinate instruments, which can extend or restrict its application as necessary.

Key Provisions

The Currency (Perth Mint) Determination 2001 (No. 3) under section 13A(1) of the Currency Act 1965, specifies the details for a $30 coin. This Determination comes into effect upon gazettal and outlines the coin's denomination, standard composition, weight, dimensions, and design. It is important to note that these specifications do not impact any other coin specifications set by previous Determinations. The primary obligation imposed by this Determination is the specification of a $30 coin, detailing its standard composition, weight, dimensions, and design. Specifically, the coin must be not less than 99.9% silver, with a standard weight of 1002.50 grams, a tolerance of ±1.50 grams, a diameter of 101.00 mm, and a thickness of 14.60 mm. The coin's design must include a circular shape, a milled edge, and specific elements on both the obverse and reverse sides. The obverse features an effigy of Queen Elizabeth II surrounded by inscriptions and a circle of raised beads, while the reverse includes a depiction of two kookaburras and a gold cameo of a baby in a sling, also enclosed by inscriptions and a circle of raised beads. There are no explicit offences, penalties, or civil/criminal consequences mentioned in this Determination for breach of its provisions. However, it is reasonable to infer that any deviation from the specified standards or design elements could potentially lead to legal repercussions under the Currency Act 1965 or other relevant legislation. The precise consequences would depend on the nature and extent of the breach, but they could involve actions such as fines, confiscation of the non-compliant coins, or other legal penalties as deemed appropriate by the relevant authorities.