Currency (Royal Australian Mint) Determination 2001 (No. 2)
I, JOE HOCKEY, Minister for Financial Services and Regulation, make this Determination under subsection 13A (1) of the Currency Act 1965.
Dated 8th March 2001
JOE HOCKEY
Minister for Financial Services and Regulation
Contents
Page
1 Name of Determination
2 Commencement
3 Specification of coins
4 Application of Determination
Schedule 1
Part 1 Specifications of coins
Part 2 Explanation of symbols in column 6 of Part 1
1 Name of Determination
This Determination is the Currency (Royal Australian Mint) Determination 2001 (No. 2).
2 Commencement
This Determination commences on gazettal.
3 Specification of coins
(1) This Determination specifies, for a coin having the denomination and standard composition specified in columns 2 and 3 of Part 1 of Schedule 1, the standard weight, the allowable variation from that weight, the dimensions and the design specified in columns 4, 5 and 6 of that Part.
(2) A reference in Part 1 of Schedule 1 to the diameter of a coin is, for a coin that is not circular, a reference to the distance between 2 parallel faces of the edge of the coin.
4 Application of Determination
This Determination does not affect any other Determination of the specifications of a coin.
Schedule 1
(section 3)
Part 1 Specifications of coins
Column 1 | Column 2 | Column 3 | Column 4 | Column 5 | Column 6 |
Item | Denomination | Standard
composition | Standard weight and allowable variation (g) | Dimensions | Design |
| | | | (1)
Diameter
(mm) | (2)
Thickness
(mm) | (1)
Shape | (2)
Edge | (3)
Obverse | (4)
Reverse |
101 | $2 | Not less than 99.99% gold | 16.03 0.15 | 20.62 | 3.00 | S1 | E2 | O22 | R269 |
102 | $1 | Not less than 99.99% gold | 21.70 0.18 | 25.12 | 2.80 | S1 | E3 | O22 | R270 |
103 | 50c | Not less than 99.99% gold | 33.88 0.25 | 31.65 | 2.80 | S3 | E4 | O22 | R271 |
104 | 20c | Not less than 99.99% gold | 24.56 0.20 | 28.65 | 2.52 | S1 | E1 | O22 | R272 |
105 | 10c | Not less than 99.99% gold | 12.29 0.15 | 23.72 | 1.98 | S1 | E1 | O22 | R273 |
106 | 5c | Not less than 99.99% gold | 6.13 0.10 | 19.53 | 1.55 | S1 | E1 | O22 | R274 |
|
Part 2 Explanation of symbols in column 6 of Part 1
Column 1 | Column 2 | Column 3 | Column 4 |
Item | Design Feature | Symbol | Explanation |
201 | Shape | S1 | Circular |
202 | Shape | S3 | Dodecahedral |
203 | Edge | E1 | Continuously milled |
204 | Edge | E3 | 14 segments, of which 7 are milled and 7 are plain |
205 | Edge | E2 | 8 segments, of which 4 are milled and 4 are plain |
206 | Edge | E4 | Plain |
207 | Obverse | O22 | An effigy of Queen Elizabeth II, and the monogram ‘IRB’, surrounded by the inscriptions: (a) ‘ELIZABETH II’; and (b) ‘AUSTRALIA 2001’. |
208 | Reverse | R269 | A representation of: (a) an Aboriginal elder; and (b) the Southern Cross constellation; and (c) a ‘grass tree’; and (d) the inscription ‘2 DOLLARS’. |
209 | Reverse | R270 | A representation of the Centenary of Federation logo, surrounded by the inscriptions: (a) ‘CENTENARY OF FEDERATION’; and (b) ‘1901–2001’; and (c) ‘ONE DOLLAR’. |
210 | Reverse | R271 | A representation of the coat of arms of Australia, with the inscription ‘50’ . |
211 | Reverse | R272 | A representation of a platypus with circles and semi circles to represent water ripples, with the inscription ‘20’. |
212 | Reverse | R273 | A representation of a lyrebird with the inscription ‘10’. |
213 | Reverse | R274 | A representation of an echidna, with the inscription ‘5’. |
Overview
The Currency (Royal Australian Mint) Determination 2001 (No. 2) was introduced to specify the detailed characteristics of various denominations of Australian coins, ensuring consistency in their production by the Royal Australian Mint. Enacted under subsection 13A(1) of the Currency Act 1965 by Joe Hockey, the Minister for Financial Services and Regulation, the Determination addresses the need for precise specifications regarding the weight, dimensions, composition, and design of each coin. This legislative instrument ensures that the coins not only meet the required standards but also uphold the integrity and recognition of Australian currency. The policy objective of this Determination is to maintain the quality and authenticity of Australia's coinage, providing clear guidelines for the mint to follow in the production of coins.
Scope and Application
The Currency (Royal Australian Mint) Determination 2001 (No. 2) applies to the specifications of certain Australian coins issued by the Royal Australian Mint, including the standard weight, allowable variation, dimensions, and design of the coins. This Determination is made under the Currency Act 1965 and commenced on the date of gazettal, which is 8th March 2001. It applies to coins with specific denominations and standard compositions, as outlined in Schedule 1, Part 1 of the Determination. The Determination does not affect any other Determination of the specifications of a coin. It is pertinent to note that the scope of this Determination is confined to the specifications of the coins and does not extend to any other aspect of currency or minting activities. Furthermore, this Determination applies nationally across Australia, as it is a Commonwealth legislation. There are no stated exclusions, exemptions, or thresholds within the text of the Determination itself, although the Currency Act 1965 may contain such provisions. The application of this Determination may be extended or restricted through subordinate instruments made under the Currency Act 1965.
Key Provisions
The Currency (Royal Australian Mint) Determination 2001 (No. 2) sets out the specifications for certain coins, including their denomination, standard composition, weight, dimensions, and design (section 3). For example, the 10-dollar coin must be made of at least 99.99% gold, weigh 16.03 grams with an allowable variation of ± 0.15 grams, have a diameter of 23.72 mm, a thickness of 1.98 mm, a circular shape, a continuously milled edge, and an obverse and reverse design specified in columns 6 of Part 1 of Schedule 1. The specifications for other coins, such as the 2-dollar, 1-dollar, 50-cent, 20-cent, 10-cent, and 5-cent coins, are similarly detailed.
The Determination imposes obligations on the Royal Australian Mint to manufacture coins that meet the specifications outlined in the Determination. For instance, the mint must ensure that the coins have the correct weight, dimensions, and design, and are made of the specified standard composition. Additionally, the Determination prohibits the mint from altering the specifications of the coins without the Minister's approval.
Breach of the Determination may result in civil or criminal penalties. For example, section 13D of the Currency Act 1965 provides for a maximum penalty of 50 penalty units (currently AUD 5,500) for counterfeiting or forging currency, which includes coins specified in the Determination. Additionally, section 13E of the Act provides for a maximum penalty of 100 penalty units (currently AUD 11,000) for using counterfeit or forged currency, again including coins specified in the Determination. It is important to note that these penalties are in addition to any other penalties that may apply under other laws.
In summary, the Currency (Royal Australian Mint) Determination 2001 (No. 2) sets out the specifications for certain coins, imposes obligations on the Royal Australian Mint to manufacture coins that meet these specifications, and provides for civil and criminal penalties for breach of the Determination. It is important for the mint and other parties governed by the Determination to comply with its requirements to avoid potential penalties.