Year 8 Enterprise: Changes to Money in Australia over time

Australia's new five-dollar note will feature native wattle, and could be in your wallet in less than seven months.

Five cent coins could be on their way out 50 years after decimal currency was introduced, according to the head of the Royal Australian Mint.

HOT on the heels of the new $5 note introduced last year comes a revamped tenner. It’s due to land in your pockets soon.

ABC Archival material

The Reserve Bank was established and decimal currency introduced. A distinctively Australian series of banknotes was issued which captured Australia's emerging social and cultural diversity and its contribution to the wider world.

Aboriginal trade was based on exchange, and did not involve the use of currency. Due to a lack of a suitable currency, barter (as well as other forms of currencies) was used following British colonisation.

From 1901 the Commonwealth Government had constitutional power over currency matters and was keen to have a nationally acceptable currency.

In this period, Australia's banknotes changed several times, mainly in response to changes in the British Monarchy but the designs continued to reflect our economic development.

Australia's banknotes were transformed in this period. They were made using an innovative polymer (or 'plastic') base and were substantially redesigned. By the centenary of Federation, Australia had an internationally unique set of banknotes based on homegrown technology and skills.