Currency (Royal Australian Mint) Determination 2002 (No. 6)

Overview

The Currency (Royal Australian Mint) Determination 2002 (No. 6) was enacted to provide detailed specifications for the physical attributes and design of Australian coins, ensuring consistency and quality in the nation's currency. This legislative instrument, issued under subsection 13A(1) of the Currency Act 1965, was created to address the need for precise standards in the minting of coins to facilitate commerce and maintain public trust in the currency. The Determination specifies the standard weight, allowable variations, dimensions, and design elements for coins, ensuring uniformity and adherence to the legal requirements set out in the Currency Act. This Determination does not affect any other specifications of coins already established under previous determinations. The Currency (Royal Australian Mint) Determination 2002 (No. 6) was issued by Ian Gordon Campbell, the Parliamentary Secretary to the Treasurer at the time, and it commenced upon gazettal. The policy objective behind this Determination is to ensure that all coins minted meet the necessary specifications for weight, dimensions, and design, thereby maintaining the integrity and reliability of Australia's currency. The detailed specifications provided in the Determination are intended to support the broader legislative framework established by the Currency Act, which aims to regulate and standardise the production and circulation of legal tender in Australia.

Scope and Application

The Currency (Royal Australian Mint) Determination 2002 (No. 6) applies to the Royal Australian Mint and its production of coins with the specified denominations and compositions. This legislative instrument defines the physical characteristics, including weight, dimensions, and design, of certain coins as per the provisions set out in the Currency Act 1965. The Determination is applicable to any coins manufactured by the Royal Australian Mint that meet the criteria outlined in the schedule to the Determination, which includes the denomination, composition, weight, dimensions, and design of the coins. The Determination does not affect other coins specified under different Determinations, ensuring that each coin type adheres to its unique specifications. The geographic and jurisdictional reach of this Determination is inherently tied to Australia, as it pertains to the national currency managed by the Royal Australian Mint. While the Determination itself does not specify exclusions, exemptions, or thresholds, it does establish the detailed standards for the coins it governs. The application of the Determination can be extended or further specified through subordinate instruments issued under the authority of the Currency Act 1965.

Key Provisions

The Currency (Royal Australian Mint) Determination 2002 (No. 6) sets forth specific details regarding the specifications of certain coins, particularly those with a denomination of one dollar. According to section 3, the Determination details the standard composition, weight, allowable variation, dimensions, and design for each specified coin. The coin in question must be composed of not less than 99.99% silver, partially plated with 99.9% gold, with a standard weight of 31.685 grams and an allowable variation of ± 0.50 grams. Furthermore, the coin should have a diameter of 40.60 millimetres and a thickness of 4.00 millimetres. The design elements, outlined in Part 1 of Schedule 1, include a circular shape, a continuously milled edge, an obverse featuring an effigy of Queen Elizabeth II and the monogram ‘IRB’, surrounded by the inscriptions ‘ELIZABETH II’ and ‘AUSTRALIA 2003’, and a reverse design depicting a gold-plated representation of an aboriginal design of a kangaroo, with inscriptions ‘ONE DOLLAR’ and ‘1 OUNCE OF FINE SILVER’. Under the Currency Act 1965, the Currency (Royal Australian Mint) Determination 2002 (No. 6) imposes several obligations on the Royal Australian Mint and potentially other parties involved in the minting and distribution of coins. The Royal Australian Mint must ensure that all coins minted adhere to the specifications outlined in this Determination. This includes maintaining the prescribed weight, dimensions, design, and composition standards. Additionally, the mint must ensure that the coins are produced in a manner that meets the allowable variation for weight and conforms to the detailed design specifications. The Act and this Determination likely also impose a duty on the mint to maintain records and provide evidence of compliance with these standards, should they be required by regulatory authorities. Violations of the specifications set out in the Currency (Royal Australian Mint) Determination 2002 (No. 6) can lead to various legal consequences. Although the Determination itself does not explicitly detail penalties, breaches of the Currency Act 1965 can result in significant civil or criminal penalties. Under the Act, penalties for offences related to counterfeiting or unauthorised minting of coins can include substantial fines and imprisonment. For example, under section 128 of the Currency Act, a person who counterfeits or falsely represents Australian currency coins can be subject to a fine of up to 5,000 penalty units or imprisonment for up to 10 years, or both. Similarly, unauthorised minting of coins can attract penalties of up to 10,000 penalty units or imprisonment for up to 15 years, or both. These penalties underscore the importance of adhering to the specifications and requirements outlined in the Determination to avoid severe legal repercussions.