Margaret Frost Before 1966, Australia’s money system was based on the British Sterling System. We had Pounds (£), Shillings (s) and Pence (d). 20 shillings made up 1 Pound and 12 pennies made up 1 shilling. Decimal currency came in on 14th February 1966. Pre Decimal Coins Pre-Decimal notes Decimal Currency 1 Shilling Florin sixpence Click on each coin to find out more about it. threepence half penny 1 penny This coin was called ‘two bob’ and was worth 2 shillings or 24 pence. It was written as 2/-. back This coin was called ‘one bob’ and was worth 1 shilling or 12 pence. It was written as 1/-. back This coin was called a ‘zac’ or sixpence. It was worth 6 pennies. It was written as 6d. back This coin was called a threepence which was pronounced ‘thripence’ or ‘throopence’. It was also called a ‘thripenny bit’. It was worth 3 pennies and was written as 3d. back This coin was a penny. It was worth 1 penny and was written as 1d. If you put a penny in a glass of coke and left it for a while, it would come out nice and clean and shiny. back The name for the half penny was pronounced “haypenny.” It was worth a half a penny and was written ½d. back Over the years there were many different versions of the notes, just as there has been with the decimal notes. These notes were made of paper. The paper wore out quickly and new notes had to be made to replace them. They were easy to copy and many counterfeit notes were printed and used. On the next page you will see pictures of very early versions of the notes. These changed often over the years. 10 shilling note 10/- 1 pound note £1 5 pound note £5 Click on each note to see a bigger picture. 20 pound note 10 pound note £ 10 There was also a fifty pound note. £ 20 Decimal Currency was introduced into Australia on 14th February, 1966. The first notes were made of paper. The then Prime Minister, Sir Robert Menzies, wanted to call the currency the “Royal” but people didn’t like this name, so the Dollar was decided on. Shortly after the changeover, a large amount of counterfeit $10 notes were found. In 1988, a polymer $10 note was released to commemorate Australia’s BiCentennial. Between 1992 and 1996, polymer notes were slowly introduced to replace the old ones. These notes were harder to counterfeit, stronger and could be recycled. In 1984, the one dollar coin replaced the dollar note. In 1988, the two dollar coin was introduced. The last 1 cent coin was made in 1990 and the last 2c coin was made in 1992. They were gradually taken out of circulation from 1992. Decimal Coins Decimal Notes Decimal Currency Song Decimal Currency Timeline Before the change over, there was a large advertising campaign to get people used to the change. The jingle that was sung was very catchy and some people who were around in those days can still remember it. It is sung to the tune “Click Go the Shears.” Decimal Change Over Song In come the dollars and in come the cents To replace the pounds and the shillings and the pence Be prepared for change when the coins begin to mix On the fourteenth of February 1966. Chorus: Clink go the coins, clink, clink, clink Change over day is closer than you think Learn the value of the coins and the way that they appear And things will be much smoother when the decimal point is here. In come the dollars and in come the cents To replace the pounds and the shillings and the pence Be prepared folks when the coins begin to mix On the fourteenth of February 1966. 10c 5c 20c Click on each coin to find out more about it. 2c 1c 50c $2 $1 The 1c coin had a ring tailed possum on the back. The last 1c coin was made in 1990. 100 1c coins made up $1.00 The 2c coin had a frilled necked lizard on its back. The last 2c coin was made in 1992. 5 2c coins made up 10c and 50 2c coins made up $1.00 The 5c coin has an echidna on its back. 2 5c coins makes 10c and 20 5c coins makes $1.00. The 10c coin has a lyre bird on the back. 10 10c coins make up $1.00. The 20c coin has a platypus on the back. 5 20c coins make up $1.00. The 50c coin has the Australian Coat of arms on the back. The Coat of Arms has an kangaroo on the left and an emu on the right. 2 50c coins make $1.00. The fifty cent coin was originally circular and made of 80% silver. However the price of silver went up and it was too dear to make the coins from silver. People did not like the coin because it felt too much like the 20c coin. No 50c coins were minted (made) in 1967 & 1968. In 1969, the 10 sided (dodecagonal) coin was first minted and released. Round 50c coin – minted in 1966. The $1.00 coin has kangaroos on the back of it. It was first minted in 1984 to replace the $1.00 note. The $2.00 coin has an aboriginal elder on the back. It was first minted in 1988 to replace the $2.00 note. The notes were originally made from paper but were easy to counterfeit. In 1988 the first polymer notes were introduced. These were the first notes to be made from polymer anywhere in the world. Many other countries have since copied Australia and make their notes from polymer. $2 $1 $5 $20 $10 Click on each note to find out more about it. $50 $100 Originally there was a $1 note. This was replace by the $1 coin in 1984. The front of the note had a portrait of Queen Elizabeth II, and the Australian Coat of Arms. The back of the note had an Aboriginal bark painting by David Daymirringu and other paintings and carvings. Like the $1.00 note, the $2.00 note was made of paper. It was replace by the $2.00 coin in 1988. On the front of the note featured John Macarthur (1767–1834) and the wool industry. Macarthur and his wife, Elizabeth, contributed to the development of the wool industry, especially through the use of high-quality Spanish sheep to breed the Australian merino. William James Farrer (1845–1906) played a major role in developing wheat varieties more resistant to rust disease and to drought. He created a type of wheat, which he called, Federation. This type of wheat could be grown in drier areas. The $5.00 note is now made of polymer, though it was originally made of paper. The first polymer $5.00 note was issued in 1992. The front of the note carries a portrait of Queen Elizabeth II with a branch of a gum tree. The back of the note depicts Parliament House, Canberra. The first Parliament House, opened in 1927, is in the foreground. Dame Mary Gilmore (1865– 1962) was a writer. She campaigned for better voting rights for women, pensions and Aboriginal rights. One of her famous poems was No Foe Shall Gather Our Harvest. Andrew Barton Paterson (Banjo Patterson) (1864–1941), was born in New South Wales. He was a famous Australian poet. In his thirties, he became famous for writing Waltzing Matilda, The Man from Snowy River, and many other poems. Mary Reibey (1777–1855), featured on one side of the note, was transported to Australia in 1794 after a conviction for horse stealing. She became a business woman including property, shipping and warehouses. In later life she became widely known for her charitable works and interest in church and education affairs. The other side of the $20 note carries a portrait of Reverend John Flynn (1880–1951) who started the Royal Flying Doctor Service. David Unaipon (1872–1967), a South Australian writer, inventor and public speaker, was a spokesman for the Aboriginal people. He was the first Aboriginal author to be published. Edith Cowan (1861–1932) is best remembered as the first female member of an Australian Parliament. She was elected to Parliament in 1921. She worked throughout her life on a wide range of educational, family, church and social issues. Sir John Monash (1865–1931) was a soldier, engineer and administrator. After earning degrees in engineering, arts and law, Monash had a distinguished career during World War I, becoming a Lieutenant General. Monash University and the Monash Freeway are both named after him. Dame Nellie Melba (1861–1931) was probably the most famous soprano in the world in the early part of the twentieth century. Born Helen Porter Mitchell, she took the stage name of Melba as a part of her native city of Melbourne. She lived in Europe for long periods but toured Australia extensively. Melba worked tirelessly to raise funds for charities in Australia during World War I. In 1920, she became the first artist of international reputation to participate in direct radio broadcasts. Polymer is a plastic like material. The word Polymer means many parts. Australia was the first country in the world to use Polymer for its notes. Now, more than 22 countries use this material for their bank notes. The first 10 sided 50c 1966 coin was th 14 February made. Decimal Currency introduced in Australia 1969 $2.00 coin replaced the $2.00 notes. 1984 $1.00 coin replaced the $1.00 notes. $10.00 polymer note released 1990 1988 The last 1c coin was made. The last 2c coin was made. Polymer notes were released to replace the paper notes. 1992 Bi-Centennial – 200 hundred years Botanist – one who studies plants Circulation – move about Commemorate – remember, celebrate Counterfeit – fake, copy Unique – unusual or rare Bi-Centennial – 200 hundred years Botanist – one who studies plants Circulation – move about Commemorate – remember, celebrate Counterfeit – fake, copy Unique – unusual or rare Bi-Centennial – 200 hundred years Botanist – one who studies plants Circulation – move about Commemorate – remember, celebrate Counterfeit – fake, copy Unique – unusual or rare Polymer is a plastic like material. The word Polymer means many parts. Australia was the first country in the world to use Polymer for its notes. Now, more than 22 countries use this material for their bank notes.