It was on 14 February 1966 that Australia started to use decimal currency – the dollars and cents that we know today.
When did Australia start using dollars?
On Valentine’s Day 1966 Australians woke to a brand-new currency. The decision to change from the Australian pound (with its awkward shillings and pence) to a decimal currency – the Australian dollar – had been a pragmatic, economic one.
What was Australia’s currency before 1910?
The Australian pound (symbol £) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings (symbol s), each of 12 pence (symbol d).
What was the first Australian currency?
A national Australian currency was created in 1910, as the Australian Pound, which in 1966 was decimalized as the Australian Dollar.
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When did Australia Stop 1 and 2 cent coins?
1c and 2c coins will continue to be legal tender: they can still be used to purchase goods and can be deposited with financial institutions in the normal manner.” Both coins were withdrawn from circulation commencing in February 1992.
When did pennies stop in Australia?
The cent, formally the one-cent coin, was the lowest-denomination coin of the Australian dollar. It was introduced on 14 February 1966 in the decimalisation of Australian currency and was withdrawn from circulation in 1992 (along with the two-cent coin).
When did Australia phase out paper money?
Australian paper banknotes were phased out in 1982 with the commencement of the One Dollar to the end of paper money with the Hundred Dollar in 1996. The One Dollar with the signature combination of Johnston/Stone was phased out in 1982 to be replaced with the One Dollar Coin.
When did Australia get plastic money?
The first polymer series of Australian banknotes was issued between 1992 and 1996. It was the first in the world to be printed on polymer substrate instead of paper. The first denomination in the eighth series was issued on 1 September 2016.
When did gold coins start in Australia?
In 1825, the British Government legislated a sterling currency for the colony, which remained the basis of Australian currency until the transition to decimal currency, the Australian dollar, in 1966. Australia’s first gold coins were minted in 1855.
When did Australia coin change $1 note?
Introduced in 1966 with the the Australian dollar and decimal currency, the $1 and $2 paper notes had an incredibly short circulation life, thought to be only 3–6 months. As a result the one dollar note was replaced by a coin in 1984, quickly followed by the $2.
When did the 1 cent coin start?
The one cent coin was first introduced with decimal currency on 14 February 1966.
When did copper coins stop?
The alloy remained 95 percent copper and 5 percent zinc until 1982, when the composition was changed to 97.5 percent zinc and 2.5 percent copper (copper-plated zinc). Cents of both compositions appeared in that year. The penny’s original design was suggested by Ben Franklin.