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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.
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 five-pound note was first issued in 1913 and featured a scene looking along the Hawkesbury River near Brooklyn, New South Wales, from the railway toward Kangaroo Point. [1] Upon decimalisation it had a value of 10 dollars .
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.
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.