EXPLANATORY STATEMENT
Issued by authority of the Assistant Treasurer
Currency Act 1965
Currency (Perth Mint) Determination (No. 4) 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 13 new numismatic coins proposed to be issued by The Perth Mint. The legislative instruments also amends the details of one coin previously determined.
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. 4) 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 13 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. 4) 2019
This Attachment sets out further details of the Currency (Perth Mint) Determination (No. 4) 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.
2019 Centenary of First Flight – England to Australia– Copper and Zinc Collector Coin
The design on the 2019 Centenary of First Flight – England to Australia (13.5g) copper and zinc coin, consists of a stylised map of the world, representations of flight paths and landing points for aircraft and an aircraft. The coin includes the following inscriptions “CENTENARY OF FIRST FLIGHT”, “ENGLAND TO AUSTRALIA” and the initials of the designer Jennifer McKenna “JM”.
2019 Centenary of First Flight – England to Australia – Silver Collector Coin
The design on the 2019 Centenary of First Flight – England to Australia (2oz) silver bullion coin, with an antiqued finish, consists of a stylised map of the world, representations of flight paths and landing points for aircraft, an aircraft, stylised mountains, river and sun enclosing a transparent insert at the centre of the coin containing a rotatable propeller. The coin includes the following inscriptions “CENTENARY OF FIRST FLIGHT”, “ENGLAND TO AUSTRALIA” and the initials of the designer Jennifer McKenna “JM”.
2019 Star-Shaped Christmas – Coloured – Silver Collector Coin
The design on the 2019 Star-Shaped Christmas (1oz) silver collector coin consists of a coloured reindeer in harness with bells and stylised stars in the background. The coin includes the following inscriptions “Merry Christmas” and the initials of the designer Jennifer McKenna “JM”.
2020 Australian Discovery Tribute with Diamonds (Holey Dollar and Dump) – Gold Collector Coin
The design on the Australian Discovery Tribute with Diamonds (1½oz and ½oz) gold collector coins celebrates the discovery of gold and diamonds in Australia. The ‘Holey Dollar’ is an annular design consisting of a representation of a coastal landscape of the peninsula, a sailing ship and a rowboat with rowers and in the foreground enclosing a partially punched out circle are tents, a person panning over a stream, an ant over an anthill, kangaroos, boab tree, termite mound, grass tree and one gem inset into the coin. The coin includes the following inscriptions “DISCOVERY” and the initials of the designer Natasha Muhl “NM”. The ‘Dump’ consists of a satellite view of Australia with 2 gems inset into the coin.
2020 Australian Lunar Mouse – Silver Bullion Coin
The design on the 2020 Australian Lunar Mouse (10kg) silver bullion coin consists of a representation of 2 mice eating corn on the cob. The coins include the following inscriptions “MOUSE”, “2020”, the Chinese pictograph pronounced shŭ under the Pinyin system and meaning mouse and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Lunar Mouse – Chinese Privy – Silver Bullion Coin
The design on the 2020 Australian Lunar Mouse – Chinese Privy (1oz) silver bullion coin consists of a representation of 2 mice eating corn on the cob and a circle enclosing the Chinese character (丰) pronounced fēng under the Pinyin system and meaning fertile and plentiful and representing good harvest. The coin includes the following inscriptions “MOUSE”, “2020”, the Chinese language character (鼠) pronounced shŭ under the Pinyin system and meaning mouse and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Lunar Mouse – Aluminium Bronze Collector Coin
The design on the 2020 Australian Lunar Mouse (13.5g) aluminium bronze coin consists of a representation of 2 mice eating corn on the cob. The coins include the following inscriptions “MOUSE”, “2020”, the Chinese language character (鼠) pronounced shŭ under the Pinyin system and meaning mouse and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Lunar Mouse – Coloured – Silver Bullion Coin
The design on the 2020 Australian Lunar Mouse – Coloured (5oz) silver bullion coin consists of a representation of 2 coloured mice eating corn on the cob. The coins include the following inscriptions “MOUSE”, “2020”, the Chinese language character (鼠) pronounced shŭ under the Pinyin system and meaning mouse and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Lunar Mouse – Platinum Collector Coin
The design on the 2020 Australian Lunar Mouse (1oz) platinum proof coin consists of a representation of a mouse perched on ears of wheat. The coins include the following inscriptions “MOUSE”, “2020”, the Chinese language character (鼠) pronounced shŭ under the Pinyin system and meaning mouse and the initials of the designer Ing Ing Jong “IJ”.
2020 Australian Happy Birthday – Aluminium Bronze Collector Coin
The design on the 2020 Australian Happy Birthday (13.5g) aluminium bronze coin consists of stylised streamers and musical notes superimposed over coloured representations of gifts with bows, an iced cupcake with a cherry on top, party hat and blowers. The coin includes the following inscriptions “Happy Birthday” and the initials of the designer Jennifer McKenna “JM”.
2019 100th Anniversary of Treaty of Versailles – Gold Collector Coin
The design on the 2019 100th Anniversary of Treaty of Versailles (1oz) gold proof coin consists of a circular border that surrounds a representation of the Palace of Versailles and a silhouette of a kneeling soldier superimposed over radial lines. The coin includes the following inscriptions “100TH ANNIVERSARY”, “100” and “TREATY OF VERSAILLES MMXIX”.
2019 Australian Great White Shark – Piedfort Silver Bullion coin
The design on the 2019 Australian Great White Shark – Piedfort (2oz) Silver Bullion coin consists of a circular border, in the foreground, partially obscuring the border is a representation of a great white shark and fish and in the background, stylised water. The coin includes the following inscriptions “2019”, “GREAT WHITE”, “2oz 9999 SILVER”, and the initials of the designer Natasha Muhl “NM”.
Schedule 2 – Amendments
Schedule 2 sets out a minor amendment to the Currency (Perth Mint) Determination (No. 1) 2019 to reflect a small adjustment to the maximum thickness determined for a previously approved (but not yet issued) coin. The adjustment is needed to correct an administrative error of the Perth Mint.