EXPLANATORY STATEMENT
Issued by authority of the Assistant Minister for Treasury and Finance
Currency Act 1965
Currency (Perth Mint) Determination (No. 3) 2019
Subsection 13(2) and section 13A of the Currency Act 1965 (the Act) provide that the Treasurer may, by legislative instrument, determine details of Australian coin characteristics including denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions.
The purpose of this legislative instrument is to determine the characteristics of 16 new numismatic coins proposed to be issued by The Perth Mint.
The Treasurer may authorise the making and issuing of coins specified, or taken to be specified, in the Schedule to the Currency Act 1965. A payment of money is a legal tender if it is made in coins that are made and issued under the Currency Act 1965. Through the issue of a currency determination, the Treasurer can add, remove and alter the coin characteristics specified, or taken to be specified, in the Schedule to the Currency Act 1965.
In accordance with section 19 of the Acts Interpretations Act 1901, any Minister in the Treasury portfolio may, by legislative instrument, determine details of Australian coin characteristics.
Details of the legislative instrument are set out in the Attachment.
The legislative instrument commenced on the day after it was registered on the Federal Register of Legislation.
The legislative instrument is subject to disallowance under section 42 of the Legislation Act 2003.
Consultation
The Perth Mint undertook 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 were 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 was 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. 3) 2019
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 characteristics of 16 new numismatic coins proposed to be issued 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.
ATTACHMENT
Details of the Currency (Perth Mint) Determination (No. 3) 2019
This Attachment sets out further details of the Currency (Perth Mint) Determination (No. 3) 2019 (the Determination).
Section 1 – Name
This section specifies the name of the Determination is the Currency (Perth Mint) Determination (No. 3) 2019.
Section 2 – Commencement
This section prescribes that the Determination commences the day after the Determination is registered.
Section 3 – Authority
This section provides that the Determination is made under the Currency Act 1965.
Section 4 – Definitions
This section provides definitions for the purposes of the Determination.
Sections 5 and 6 – Coin characteristics
These sections provide that the coin characteristics set out in Schedule 1 are taken to be specified in the Schedule to the Currency Act 1965. The Treasurer may authorise the making and issuing coins specified, or taken to be specified by currency determinations, in the Schedule to the Currency Act 1965. A payment of money is legal tender if it is made in coins that are made and issued under the Currency Act 1965.
Schedule 1 – Standard composition, standard weight, design and dimensions of coins of specified denominations
Schedule 1 sets out the details of new coin characteristics. The newly determined coins characteristics are set out below.
2020 Australian Citizenship – Copper and Zinc Collector Coin
The design on the 2020 Australian Citizenship (13.5 grams) copper and zinc coin, consists of a pattern of shapes forming a circle immediately inside the rim, enclosing a representation of the Coat of Arms of the Commonwealth of Australia. The coin includes the inscription “AUSTRALIAN” and “CITIZENSHIP”.
2020 Australian Kangaroo – Gold Bullion Coin
The design on the 2020 Australian Kangaroo (1 kilogram) gold bullion coin, consists of a pattern of dots forming a border immediately inside the rim, enclosing a representation of a bounding kangaroo, surrounded by stylised sunrays. The coin includes the following inscriptions “AUSTRALIAN KANGAROO 1 KILO 9999 GOLD”, “2020” and “RED KANGAROO”.
2020 Australian Kangaroo – Gold Bullion Coins
The design on the 2020 Australian Kangaroo (1 ounce, ½ ounce, ¼ ounce, ounce) gold bullion coins, consists of a circular border, in the foreground, partially obscuring the border is a representation of a kangaroo and its joey on a grassy plain with stylised grass trees in the background. The coin includes the following inscriptions “AUSTRALIAN KANGAROO”, “2020 Xoz 9999 GOLD” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals) and the initials of the designer Aleysha Howarth “AH”.
2020 Australian Kangaroo – Platinum Bullion Coin
The design on the 2020 Australian Kangaroo (1 ounce) platinum bullion coin, consists of a pattern of wavy lines immediately inside the rim, enclosing a representation of a bounding kangaroo surrounded by stylised sunrays. The coin includes the following inscriptions “AUSTRALIAN KANGAROO” and “2020 1oz 9995 PLATINUM”.
2020 Australian Kangaroo – Silver Investor Coin
The design on the 2020 Australian Kangaroo (1 ounce) silver bullion coin, consists of a pattern of wavy lines immediately inside the rim, enclosing a representation of a bounding kangaroo surrounded by stylised sunrays and radial lines. The coin includes the following inscriptions “AUSTRALIAN KANGAROO” and “2020 1oz 9999 SILVER”.
2020 Australian Koala – Silver Bullion Coin
The design on the 2020 Australian Koala (1 kilogram) silver bullion coin consists of a circular border surrounding a representation of a koala perched on a branch. The coins include the following inscriptions “AUSTRALIAN KOALA”, “2020 1KILO 9999 SILVER” and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Koala – Silver Bullion Coin
The design on the 2020 Australian Koala (1 ounce) silver bullion coin consists of a circular border surrounding a representation of a koala perched on a branch. The coins include the following inscriptions “AUSTRALIAN KOALA”, “2020 1oz 9999 SILVER” and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Kookaburra – Silver Bullion Coin
The design on the 2020 Australian Kookaburra (1 kilogram) silver bullion coin consists of a circular border, partially obscuring the border is a representation of a kookaburra perched on the roof of a house, and stylised sunrays in the background. The coin includes the following inscriptions “AUSTRALIAN KOOKABURRA”, “1KILO 9999 SILVER” “30TH ANNIVERSARY”, and the initials of the designer Jennifer McKenna “JM”.
2020 Australian Kookaburra – Silver Bullion Coins
The design on the 2020 Australian Kookaburra (10 ounce, 1 ounce) silver bullion coins consists of a circular border, partially obscuring the border is a representation of a kookaburra perched on the roof of a house, and stylised sunrays in the background. The coins include the following inscriptions “AUSTRALIAN KOOKABURRA”, “Xoz 9999 SILVER” (where “X” is the nominal weight in ounces of the coin, expressed as a whole number in Arabic numerals), “30TH ANNIVERSARY” and the initials of the designer Jennifer McKenna “JM”.
2019 Australian Kookaburra – Panda Privy – Silver Bullion Coin
The design on the 2019 Australian Kookaburra – Panda Privy (1 ounce) silver bullion coin, consists of a circular border, in the background, stylised sunset, grass and a tree, in the foreground, partially obscuring the border is a representation of a kookaburra perched on a partially submerged branch, a circle enclosing a representation of a panda. The coin includes the following inscriptions “AUSTRALIAN KOOKABURRA”, “2019 1oz 9999 SILVER” and the initials of the designer Aleysha Howarth “AH”.
2020 Australian Kookaburra – F15 Privy – Silver Bullion Coin
The design on the 2020 Australian Kookaburra – F15 Privy (1 ounce) silver bullion coin, consists of a circular border, partially obscuring the border is a representation of a kookaburra perched on the roof of a house, stylised sunrays in the background and a circle enclosing the inscription “f15”. The coins include the following inscriptions “AUSTRALIAN KOOKABURRA”, “1oz 9999 SILVER”, “30TH ANNIVERSARY” and the initials of the designer Jennifer McKenna “JM”.
2019 Australian Swan – High Relief – Gold Collector Coin
The design on the 2019 Australian Swan – High Relief (1 ounce) gold proof coin, consists of a circular border in the foreground, a representation of two swans and a cygnet on the surface of stylised water in the background. The coin includes the following inscriptions “THE 1OZ 9999 AUSTRALIAN”, “GOLD SWAN” and the initials of the designer Jennifer McKenna “JM”.