To celebrate the effort and success of the introduction of decimal currency in 1966, Australia Post commissioned Melbourne-based Melinda Coombes of Coombes Whitechurch Design to create a new design for the $1 stamp, which was printed by Egotrade on its six-colour Heidelberg CD press using on Red Phos paper supplied by Tullis Russell.
The circulation of new currency, beginning on February 14, 1966, signified the successful completion of one of the most challenging reforms Australia had ever seen. Demanding intense manufacturing and preparation, the replacement of pounds, shillings and pence required huge mobilisation across private and public sectors, with readjustments to transactions, advertising, postage and banking as well as intense education campaigns.
“The bank notes were ground-breaking for a number of reasons,” said Australia Post philatelic manager Michael Zsolt. “First, they featured Aboriginal culture, architecture, the arts, science, industry and native fauna. Second, the $5 note featured a woman other than the Queen for the first time ever – Caroline Chisholm.
“The stamp illustrates the change that our currency underwent with the layering of a pre-decimal £1 note with the decimal $1 note and $1 coin – the $1 coin replacing the note in 1984,” said Mr Zsolt.
In 1988, following the joint development of new banknote technology in Australia by the Reserve Bank and the CSIRO, a $10 banknote printed on polypropylene polymer was issued to commemorate Australia’s bicentenary. This was a world first and it set the scene for a new era of banknotes. Between 1992 and 1996, a series of banknotes, all printed on polymer, were progressively introduced to replace the original decimal banknotes.
The Reserve Bank moved to polymer to make Australia's banknotes more secure against counterfeiting, which had been on the increase as modern reprographic equipment became more readily available. Polymer banknotes are also more durable than paper banknotes, are cleaner and more hygienic, and can be recycled at the end of their useful life into a range of plastic products.
Australia’s banknotes are printed by Note Printing Australia, which can boast a century of experience in the banknote industry. The security printer now prints polymer notes not only for the local market but also for a growing number of other countries. Over 90% of the banknotes used in the world are printed on highly specialised printing equipment manufactured by KBA-NotaSys SA, a division of KBA.