The decimal currency was introduced in Australia on 14 February, with 1c, 2c, 5c, 10c, 20c and 50c coins which were all round in shape. These Australian decimal coins replaced the half penny, penny, three pence, sixpence, shilling and florin. In the year 1770, the Australians did not use money and only engaged in the Barter System. Most of the coins were primarily dominated by the British; also the Australian currency included English sovereigns, shillings and pence; Spanish reales; Indian rupees and Dutch guilders.
The Royal Mint came into the picture and decimal currency of Australia found new hope as they didn’t have to rely on other sources. Royal Mint of Australia brought about many changes and disciplined everything under its control. In the year 2012, Australia’s first coloured circulating coin was produced. It was a $2 coin and commemorated Remembrance Day with an image of a red poppy on the reverse side. Only half a million of these were produced so they are considered to be quite rare Australian decimal coins.
In the history of decimal coins of Australia, the Mint produced two ground-breaking coin designs. The first was a dome-shaped $5 coin depicting the night sky. The second was a triangular, silver $5 coin. This was to mark the 25th anniversary of the Australian Parliament House. This coin was also a collectors’ item.
Did you know the $1 coin was introduced to replace the $1 note as the $1 notes kept wearing out too quickly from being touched and passed around? Such are the facts and interesting details about Australian decimal currency.