1st Polymer Banknote of the World

17 Feb 2021  Wed

Did you know that World’s First Polymer Banknote was issued by The Bank of Australia? The polymer banknote was the $10 commemorative note issued in January 1988 to commemorate the Australian Bicentenary. It was developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organization (CSIRO), and The University of Melbourne.

Made from the polymer, biaxially-oriented polypropylene (BOPP), these notes incorporate security features difficult to include in paper banknotes. They are also more durable, harder to tear, more resistant to folding, more resistant to soil, waterproof and washing machine proof, easier to process by machine, and are shreddable and recyclable at the end of their useful lives, which are 4-5 times longer than paper banknotes.

One side of the note symbolised European settlement with HMS Supply, the first ship to drop anchor in Sydney Cove, and a medley of persons symbolising all who have contributed to Australia's development since 1788. The other side of the first polymer note symbolised the original discovery and settlement of Australia some 40–60,000 years earlier. It depicts an Aboriginal youth, a Morning Star Pole and other designs including from Aboriginal artworks commissioned by the Bank.

Image Courtesy: ebay.com

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