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The pound (sign: £, £A [1] for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol s or /– ), each of 12 pence (denoted by the symbol d ).
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
"Design of the new decimal currency", first broadcast by the ABC in 1964. The Royal Australian Mint has announced that, following the death of Queen Elizabeth II in 2022, it will produce one million $1 coins bearing King Charles' face in 2023 [1] with the new effigy to fully replace a temporary memorial effigy of Queen Elizabeth II by May 2024. [2]
Bronze (97% copper, 2.5% zinc, 0.5% tin) Portrait of King George V. Designed by Sir E. B. Mackennal. At centre within a circle of beads, the denomination "ONE HALF PENNY" in three lines above a plain scroll; around the circle of beads, "COMMONWEALTH OF AUSTRALIA" and date. Designed by W. H. Blackmore. Plain 1911 14 February 1966 1911–1936
The Australian dollar replaced the Australian pound on 14 February 1966 as part of the decimalisation process. [6] At this time, 1, 2, 5, 10, 20, and 50 cent coins were issued. [6] $1 coins were first issued in 1984, [7] and $2 coins soon followed in 1988. The one- and two-cent coins were discontinued in 1990 and withdrawn from circulation in ...
YinYang/istockphotoWhen it comes to money, we tend to think that the U.S. dollar reigns supreme. But there are a handful of currencies out there that are even stronger. These powerhouse coins aren ...
When Australia was part of the fixed-exchange sterling area, the exchange rate of the Australian dollar was fixed to the pound sterling at a rate of A$1 = 8 U.K. shillings (A$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
The notes of the Australian dollar were first issued by the Reserve Bank of Australia on 14 February 1966, when Australia changed to decimal currency and replaced the pound with the dollar. [1] This currency was a lot easier for calculating compared to the previous Australian pound worth 20 shillings or 240 pence.