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It was equal to a half sovereign gold coin. The sizes varied but the design was the same for the following issues: 1913–1914 issue was 194×83mm, 1915–1923 197×88 mm, 1923–1933 180×78mm. This issue was payable in gold but subsequent issues were legal tender. The 1913 note was the world's first officially issued ten-shilling note.
Between 1910 and 1938 shillings were composed of 92.5% silver and 7.5% copper. However, after the Second World War, the rising price of silver meant that the silver content of Australian coins was close to meeting the face value of the coin itself and therefore Australia decided to change the silver content of its coins. [12]
Australian currency was originally based on British pounds, shillings and pence. That changed in 1966, when the country converted to Australian dollars and cents, similar to the U.S. system.
Spanish dollars were sometimes cut into "pieces of eight", quarters, and then into 2/3 and 1/3 segments, with the 2/3 segments (1/6 of original coin) being "shillings" and the 1/3 segments (1/12 of original coin) "sixpences" [1] In 1791 Governor Phillip of New South Wales fixed the value of the Spanish dollar to equal five shillings.
A year later Australian pennies and half-pennies entered circulation. Unlike in New Zealand, there was no half-crown. In 1931 gold sovereigns stopped being minted in Australia. A crown or five-shilling coin was minted in 1937 and 1938. Coinage of the Australian pound was replaced by decimalised coins of the Australian dollar on 14 February 1966 ...
The two-dollar coin, also replacing a banknote, was introduced in 1988. They have content of 2% nickel, 6% aluminium and 92% copper. The two-dollar coin is smaller in diameter than the one-dollar coin, but the two-dollar is slightly thicker. Due to the metal exceeding face value, the minting of one- and two-cent coins was discontinued in 1991 ...