The new $50 Australian banknotes will be officially circulated from 18th October. Almost half of the total banknotes in circulation in Australia are of the denomination $50. It is not only the most widely circulated banknote but is also used greatly in ATMs.
New $5 and $10 notes were released in the last two years while the new $20 and $100 banknotes might be released in 2019 and 2020 respectively. The Central Bank has been working closely with businesses so that cash handlers and cash-handling machines can easily identify the new notes.
The basic design of the new $50 notes remains untouched, featuring portraits of Aboriginal writer and inventor, David Unaipon, and Australia's first female Member of Parliament, Edith Cowan. Excerpts of Unaipon's book, Legendary Tales of the Australian Aborigines, and Cowan's first speech to the Western Australian Parliament are featured on the microprint.
Like the new $5 and $10 notes, the new $50 notes also feature top-to-bottom clear window with several dynamic features such as a reversing number, flying bird, microprint and a rolling colour effect. A ‘tactile’ feature in the form of four raised bumps is included help the visually impaired identify denominations.
The current series of banknotes will be slowly withdrawn from circulation and will be used as legal tender until they remain in circulation.
Image Courtesy: Reserve Bank of Australia