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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.
According to Reserve Bank of Australia statistics, the number of $100 banknotes in circulation in June 2005 was 149 million—18.5% of all notes in circulation. The cash value for these notes was $14,924 million—41.9% of the total value for all denominations. Only the $50 note had more cash value in circulation. [9]
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.
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.
During the note's issue, between its introduction and 1974, the note bore "Commonwealth of Australia" as the identification of country. At least 680,000,000 notes were printed in this time period. After 1974 and until the dollar coin was introduced in 1984, the note bore "Australia" as its identification of country.
In 1920, the Nationalist Hughes Ministry passed the Commonwealth Bank Act 1920 that repealed the Australian Notes Act, and transferred note issuing authority from the Treasury to the Commonwealth Bank. In 1960, responsibility for note printing passed to the Reserve Bank of Australia. [10] The RBA has been producing Australia's polymer banknotes ...
The Australian ten-dollar note was one of the four original decimal banknotes (excluding the Australian five-dollar note) that were issued when the currency was changed from the Australian pound to the Australian dollar on 14 February 1966. It replaced the Australian five-pound note, which included the same blue colouration. There have been ...
A noticeable difference between the old and new designs is the replacement of Victory with a depiction of a de Havilland Dragon Rapide taking off from a remote homestead in Broken Hill. [5] The new design also retains the traditional red orange colour mix for the note. This note was released into circulation on 9 October 2019. [6]