Explanatory Statement
Currency Act 1965
Currency (Royal Australian Mint) Determination (No. 5) 2018
Under paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965, the Minister for Revenue and Financial Services has made a determination regarding the specification of coins proposed to be issued by the Royal Australian Mint.
Paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965 require that the determination provides details of the coins’ denomination and characteristics, including standard composition, standard weight, allowable variation from standard weight, design and dimensions. Each item in the table below explains a corresponding item in Part 1 of Schedule 1 to this determination.
Item 1 | $1 Copper, Aluminium and Nickel Coin – New Effigy
Reverse An effigy of Queen Elizabeth II together with the initials of the designer Ian-Rank Broadley ‘IRB’. The design includes the inscriptions ‘AUSTRALIAN COINAGE PORTRAIT 1998 – 2019’ and ‘. ONE DOLLAR.’.
Obverse Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions ‘ELIZABETH II .’ and ‘AUSTRALIA’ and the inscription, in Arabic numerals, of a year. The obverse design includes the initials of the designer Jody Clark ‘JC’. |
Item 2 | $1 Silver Coin – New Effigy
Reverse An effigy of Queen Elizabeth II together with the initials of the designer Ian-Rank Broadley ‘IRB’. The design includes the inscriptions ‘AUSTRALIAN COINAGE PORTRAIT 1998 – 2019’ and ‘. ONE DOLLAR.’.
Obverse Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions ‘ELIZABETH II .’, ‘AUSTRALIA’ and the inscription, in Arabic numerals, of a year. The obverse design includes the initials of the designer Jody Clark ‘JC’. |
Item 3 | $1 Copper, Aluminium and Nickel Coloured Coin – Invictus Games
Reverse In the upper sector there is a coloured semicircle containing 2 white dotted lines, 2 grey dotted lines and 2 yellow dotted lines, all superimposed on a black background. Superimposed on that coloured semicircle is a representation of a male athlete in a crouch start position, wearing running blades. Below that athlete is a horizontal line and a representation of the word ‘Sydney’ and the number ‘13’ in braille print. The design includes 3 horizontal lines and 2 vertical lines. The design also includes the inscriptions ‘INVICTUS GAMES’, ‘SYDNEY 2018’ and the initials of the designer Aleksandra Stokic ‘AS’.
Obverse Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions ‘ELIZABETH II’ and ‘AUSTRALIA’ and the inscription, in Arabic numerals, of a year. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’ and ‘.1 DOLLAR.’. |
Consultation
No public consultation was undertaken in relation to the currency determination. The effect of this instrument is to determine the denomination, weight, design and dimension of coins to enable the Royal Australian Mint to continue its production of circulating and numismatic coins. The Mint receives public submissions on coin designs and determines appropriate designs in accordance with its Coin Design Policy. The Mint used market based tools to identify interested parties and gauge interest in coin themes.
Commencement
The determination commences on the day after it is registered.
Statement of Compatibility with Human Rights
This 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. The purpose of the Currency (Royal Australian Mint) Determination (No. 5) 2018 is to determine the denomination, weight, design and dimension of circulating and numismatic coins. This instrument does not engage any of the applicable rights or freedoms. This instrument is compatible with human rights as it does not raise any human rights issues. This determination has been made by the Minister for Revenue and Financial Services, in accordance with paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965.