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In 1967, Australia effectively left the sterling area when the pound sterling was devalued against the US dollar from US$2.80 to US$2.40, but the Australian dollar chose to retain its peg to the US dollar at A$1 = US$1.12 (hence appreciating in value versus sterling).
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.
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.
That changed in 1966, when the country converted to Australian dollars and cents, similar to the U.S. system. ... The rarity of this coin has pushed its value to more than $340,000 USD.
The one-dollar coin was introduced in 1984, to replace the banknote of the same value. 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.
The Australian twenty-dollar note was issued when the currency was changed from the Australian pound to the ... of which the 1967 issue is of the greatest value ...
The Australian five-dollar note was first issued on 29 May 1967, fifteen months after the currency was changed from the pound to the dollar on 14 February 1966. It was a new denomination with mauve colouration – the pre-decimal system had no denomination with a value of £2 1 ⁄ 2. The first polymer version of the note was introduced on 7 ...
The twelve-sided Australian fifty-cent coin is the third-highest denomination coin of the Australian dollar and the largest in terms of size in circulation. It is equal in size and shape to the Cook Island $5 coin , and both remain the only 12-sided coins in the southern hemisphere.