EXPLANATORY STATEMENT
Issued by authority of the Assistant Minister to the Treasurer
Currency Act 1965
Currency (Perth Mint) Determination (No. 2) 2018
Under subsection 13A(1) of the Currency Act 1965, the Assistant Minister to the Treasurer has made a determination regarding the specifications of coins proposed to be issued by The Perth Mint.
Subsection 13A(1) of the Currency Act 1965 requires that the determination provide details of coin characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
A determination made by the Assistant Minister to the Treasurer is a disallowable instrument for the purposes of section 42 of the Legislation Act 2003.
2018 Prince Henry and Ms Meghan Markle Royal Wedding – Gold Collector Coin
The design on the 2018 Prince Henry and Ms Meghan Markle Royal Wedding (1/4oz) gold proof coin, consists of wedding bells with a bow and a sprig of myrtle, a partial border of filigree in the foreground and horizontal lines in the background. The coin includes the following inscriptions “H.R.H. PRINCE HENRY OF WALES & MS MEGHAN MARKLE”, “19 MAY 2018” and the initials of the designer Natasha Muhl “NM”.
2018 Prince Henry and Ms Meghan Markle Royal Wedding – Silver Collector Coin
The design on the 2018 Prince Henry and Ms Meghan Markle Royal Wedding (1oz) silver proof coin, consists of a partial circular border with filigree and horizontal lines with a coloured representation of Prince Henry of Wales and Ms Meghan Markle superimposed on a representation of St George’s Chapel and Windsor Castle. The coin includes the following inscriptions “H.R.H. PRINCE HENRY OF WALES & MS MEGHAN MARKLE”, “19 MAY 2018” and the initials of the designer Natasha Muhl “NM”.
2018 Prince Henry and Ms Meghan Markle Royal Wedding – Aluminium Bronze Collector Coin
The design on the 2018 Prince Henry and Ms Meghan Markle Royal Wedding (30mm) aluminium bronze coin, consists of a partial circular border with filigree and horizontal lines with a coloured representation of Prince Henry of Wales and Ms Meghan Markle superimposed on a representation of St George’s Chapel and Windsor Castle. The coin includes the following inscriptions “H.R.H. PRINCE HENRY OF WALES & MS MEGHAN MARKLE”, “19 MAY 2018” and the initials of the designer Natasha Muhl “NM”.
Public Consultation
The Perth Mint has undertaken consultation among its network of Australian and international wholesale distributors. Authorised Australian distributors of The Perth Mint products are consulted regularly during business meetings and participation at the Australian Numismatic Dealers’ Association Coin, Banknote and Stamp shows. Likewise, international distributors are consulted during a schedule of individual meetings hosted during the World Money Fair held in Berlin and the American Numismatic Association’s World’s Fair of Money.
Limited consultation is conducted with external parties due to the confidentiality of coin themes and artwork, due to the risk of competitors viewing the innovations and potentially releasing similar coins into the market prior to the release.
Members of the public have the opportunity to contact The Perth Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and presented to The Perth Mint’s sales and marketing department for consideration and feedback.
STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Currency (Perth Mint) Determination (No. 2) 2018
This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview of the Legislative Instrument
The purpose of this Legislative Instrument is to determine the weight, denomination, design, dimensions and composition of 3 new numismatic coins to be released by The Perth Mint.
Human rights implications
This Legislative Instrument does not engage any of the applicable rights or freedoms.
Conclusion
This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.