EXPLANATORY STATEMENT
Issued by authority of the Assistant Minister for Treasury and Finance
Currency Act 1965
Currency (Perth Mint) Determination (No. 6) 2018
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 10 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 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. 6) 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 characteristics of 10 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. 6) 2018
This Attachment sets out further details of the Currency (Perth Mint) Determination (No. 6) 2018 (the Determination).
Section 1 – Name
This section specifies the name of the Determination is the Currency (Perth Mint) Determination (No. 6) 2018.
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 Australian Kookaburra – Coloured – Silver Bullion Coin
The design on the 2019 Australian Kookaburra (1oz) silver coloured bullion coin, consists of a circular border, in the background, a coloured stylised sunset, grass and a tree, in the foreground, partially obscuring the border is a representation of a coloured kookaburra perched on a branch partially submerged in a body of water. The coin includes the following inscriptions “AUSTRALIAN KOOKABURRA”, “2019 1oz 9999 SILVER” and the initials of the designer Aleysha Howarth “AH”.
2019 Australian Kookaburra – Penny Privy – Silver Bullion Coin
The design on the 2019 Australian Kookaburra – Penny Privy (1oz) silver bullion coin, consists of a circular border, in the background, a stylised sunset, grass and a tree, in the foreground, partially obscuring the border is a representation of a kookaburra perched on a branch partially submerged in a body of water, and a square reverse of an Australian One Penny coin. The coin includes the following inscriptions “AUSTRALIAN KOOKABURRA”, “2019 1oz 9999 SILVER” and the initials of the designer Aleysha Howarth “AH”.
2019 Australian Sovereign – Gold Collector Coin
The design on the 2019 Australian Sovereign (7.99g) gold proof coin consists of a representation of a laurel wreath, St Edward’s Crown and an oval enclosing the number “200”. The coin includes the following inscriptions “PERTH MINT”, “AUSTRALIA” and “SOVEREIGN”.
2018 Australian Double Sovereign – Gold Collector Coin
The design on the 2019 Australian Sovereign (15.98g) gold proof coin consists of a representation of a laurel wreath, St Edward’s Crown and an oval enclosing the number “200”. The coin includes the following inscriptions “PERTH MINT”, “AUSTRALIA” and “DOUBLE SOVEREIGN”.
2019 The Jewelled Dragon – Gold Collector Coin
The design on the 2019 The Jewelled Dragon (10oz) gold proof coin, consists of stylised representations of a pearl, mist and waves in the background and in the foreground a stylised Chinese dragon with an emerald and diamonds inset. The coin includes the following inscriptions “THE JEWELLED DRAGON”, the Chinese language character (龍) pronounced lóng under the Pinyin system and meaning dragon and the initials of the designer Ing Ing Jong “IJ”.
2019 Australian Humpback Whale – Platinum Bullion Coin
The design on the 2019 Australian Humpback Whale (1/3oz) platinum bullion coin, consists of a patterned circular border enclosing a representation of 2 humpback whales underwater. The coin includes the following inscriptions “2019 HUMPBACK WHALE”, “AUSTRALIAN ANTARCTIC TERRITORY” and the initials of the designer Neil Hollis “NH”.
2019 Welcome Stranger Nugget– Gold Bullion Coin
The design on the 2019 Welcome Stranger (1oz) gold bullion coin, consists of a circular border enclosing a representation of the gold nugget Welcome Stranger superimposed over radial lines. The coin includes the following inscriptions “AUSTRALIAN NUGGET”, “WELCOME STRANGER 1869”, “2019 1oz 9999 GOLD” and the initials of the designer Stuart Devlin “SD”.
2019 Welcome Stranger Nugget – Silver Bullion Coin
The design on the 2019 Welcome Stranger (1oz) silver bullion coin, consists of a circular border enclosing a representation of the gold nugget Welcome Stranger superimposed over radial lines. The coin includes the following inscriptions “AUSTRALIAN NUGGET”, “WELCOME STRANGER 1869”, “2019 1oz 9999 SILVER” and the initials of the designer Stuart Devlin “SD”.
2019 Welcome Stranger Nugget – Gold Collector Coin
The design on the 2019 Welcome Stranger (1oz) gold proof coin, consists of a circular border enclosing a representation of the gold nugget Welcome Stranger. The coin includes the following inscriptions “AUSTRALIAN NUGGET”, “WELCOME STRANGER 1869”, “2019 1oz 9999 GOLD” and the initials of the designer Stuart Devlin “SD”.
2019 Welcome Stranger Nugget – Gold Collector Coin
The design on the 2019 Welcome Stranger (1/4oz) gold proof coin, consists of a circular border enclosing a representation of the gold nugget Welcome Stranger. The coin includes the following inscriptions “AUSTRALIAN NUGGET”, “WELCOME STRANGER 1869”, “2019 1oz 9999 GOLD” and the initials of the designer Stuart Devlin “SD”.