Currency (Royal Australian Mint) Determination 2003 (No. 1)
I, IAN GORDON CAMPBELL, Parliamentary Secretary to the Treasurer, make this Determination under subsection 13A (1) of the Currency Act 1965.
Dated 5 March 2003
IAN CAMPBELL
Parliamentary Secretary to the Treasurer
Contents
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
1 Name of Determination
This Determination is the Currency (Royal Australian Mint) Determination 2003 (No. 1).
2 Commencement
This Determination commences on gazettal.
3 Specification of coins
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.
4 Application of Determination
The specifications in this Determination do not affect any other Determination of the specification 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 | $1 | Not less than 99.9% silver | 54.30 0.72 | 50.30 | 4.50 | S1 | E1 | O33 | R314 |
|
Part 2 Explanation of symbols
Column 1 | Column 2 | Column 3 | Column 4 |
Item | Design Feature | Symbol | Explanation |
201 | Shape | S1 | Circular |
202 | Edge | E1 | Continuously milled |
203 | Obverse | O33 | A design consisting of: (a) a silver annulus with the inscriptions: (i) ‘ELIZABETH II’; and (ii) ‘AUSTRALIA 2003’; and (iii) ‘ONE DOLLAR’; surrounding a representation of a holey dollar, comprising a circle of raised beads, immediately inside the rim, enclosing: (iv) the inscriptions: (A) ‘CAROLUS IIII’; and (B) ‘DEI GRATIA’; and (v) design fragments; which in turn surround the inscriptions: (vi) ‘NEW SOU’; and (vii) ‘1813’; and (b) a small effigy of Queen Elizabeth II and the monogram ‘IRB’; and |
| | | (c) a representation of a dump, comprising a circle of raised beads, immediately inside the rim, enclosing: (i) the inscriptions: (A) ‘NEW SOUTH WALES’ and (B) ‘1813’; and (ii) an image of a crown; superimposed on the holey dollar, creating a crescent-shaped hole in the coin. |
204 | Reverse | R314 | A design consisting of: (a) a silver annulus with the inscriptions: (i) ‘HOLEY DOLLAR AND DUMP’; and (ii) ‘1813’; and (iii) ‘Colony of New South Wales’; surrounding a representation of a holey dollar, comprising a circle of raised beads, immediately inside the rim, enclosing: (iv) the inscriptions: (A) ‘HISPAN ET’; and (B) ‘REX M 8R F M’; and (v) design fragments; that, in turn, surround the inscription ‘VE SHILLINGS’; and (b) a representation of a dump, comprising a circle of raised beads, immediately inside the rim, enclosing the inscription ‘FIFTEEN PENCE’, superimposed on the holey dollar, creating a crescent-shaped hole in the coin. |
Overview
The Currency (Royal Australian Mint) Determination 2003 (No. 1) was made by Ian Gordon Campbell, the Parliamentary Secretary to the Treasurer, under subsection 13A(1) of the Currency Act 1965. This legislative instrument was enacted to specify the standards for certain coins issued by the Royal Australian Mint. The determination ensures that coins meet precise specifications regarding their weight, dimensions, design, and other technical aspects to maintain the integrity and recognisability of Australian currency. By establishing these standards, the Determination aims to uphold the quality and uniformity of the nation's currency, ensuring it serves effectively as a medium of exchange and a symbol of national identity. The Determination does not affect any other specifications of coins determined under the Currency Act.
Scope and Application
The Currency (Royal Australian Mint) Determination 2003 (No. 1) applies to the specification and production of certain coins by the Royal Australian Mint. This legislation provides detailed specifications for coins, including their denomination, standard composition, standard weight, allowable weight variations, dimensions, and design elements. The determination ensures that the coins meet certain quality and design standards, which are crucial for their circulation and acceptance as legal tender. This legislation applies nationally across Australia, as it is made under the Currency Act 1965, which is a Commonwealth Act. The specifications outlined in this Determination do not override other Determinations that may specify different coins. The application of the Determination is further defined and extended through the subordinate instrument, Schedule 1, which provides specific details about the coins' physical characteristics and designs.
Key Provisions
The Currency (Royal Australian Mint) Determination 2003 (No. 1) establishes the specifications for a $1 coin, as outlined in Schedule 1 (section 3). This includes the coin's denomination, standard composition, standard weight, allowable variation, dimensions, and design. For instance, the $1 coin must be made of at least 99.9% silver, weigh 54.30 ± 0.7 grams, have a diameter of 25.00 mm, a thickness of 4.50 mm, a circular shape, and a continuously milled edge (Part 1). The coin's design, detailed in Part 2 of the schedule, features specific obverse and reverse elements, including inscriptions, representations, and images.
The Determination imposes obligations on the Royal Australian Mint and other parties involved in the minting process. It mandates that the coins adhere to the specified standards for weight, composition, dimensions, and design. The Royal Australian Mint must ensure that the coins produced meet these specifications to maintain the integrity and uniformity of Australian currency. Additionally, the minting process must comply with the design guidelines provided in the Determination to ensure consistency in the appearance and historical representation of the coins.
Breach of the specifications outlined in the Determination may have legal consequences. While the Determination itself does not explicitly detail penalties for non-compliance, violations could potentially be subject to the provisions of the Currency Act 1965. Under the Currency Act, penalties for offences related to the production of counterfeit or substandard coins can include substantial fines and imprisonment. For example, the Act provides for a maximum penalty of 10 years imprisonment for offences involving the production of counterfeit currency, highlighting the seriousness of non-compliance with currency specifications.