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Banknotes of the Australian pound were first issued by numerous private banks in Australia, starting with the Bank of New South Wales in 1817. [ 1 ] [ nb 1 ] Acceptance of private bank notes was not made compulsory by legal tender laws but they were widely used and accepted.
In May 2015, the National Library of Australia announced that it had discovered the first £A 1 banknote printed by the Commonwealth of Australia, among a collection of specimen banknotes. This uncirculated Australian pound note, with the serial number (red-ink) P000001, was the first piece of currency to carry the coat of arms of Australia. [8]
The Australian one-pound note was the most prevalent banknote in circulation with the pound series, with the last series of 1953–66 having 1,066 million banknotes printed. [2] The first banknotes issued were superscribed notes purchased from 15 banks across Australia and printed with Australian Note and were payable in gold.
Its note printing branch was corporatised in July 1998, as Note Printing Australia, which is a now a wholly owned subsidiary of the RBA. Initially, the Australian pound was officially distinct in value from the British pound sterling, but Australia's monetary policy was for it to be fixed in value to the pound sterling at parity.
Karina Nartiss, a young Latvian immigrant to Australia, was paid £10/10/- to model as a representation of "Science and Industry" on the £10 note. Sir Henry Parkes, GCMG: $1: C: P: 1996: Centenary of Parkes' death. $5: N: P: 2001 [35] Centenary of Federation special issue Admiral Arthur Phillip, RN: £10: N: P: 1954-66 [36] Replaced the image ...
The Australian Notes Act 1910 was an Act of the Parliament of Australia which allowed for the creation of Australia's first national banknotes. In conjunction with the Coinage Act 1909 it created the Australian pound as a separate national currency from the pound sterling .
The Australian ten-pound note was a denomination of the Australian pound that was equivalent to twenty dollars on 14 February, 1966. This denomination along with all other pound denomination is still legal tender = twenty dollar note. It was first issued in 1911 on overprinted banknotes issued by the various commercial and state banks of the time.
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.