{"id":"F2008B00092","name":"Currency Determination No. 2 of 1993","slug":"currency-determination-no-2-of-1993","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72358,"registerId":"commonwealth-F2008B00092-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Currency Determination No. 2 of 1993","content":"Commonwealth of Australia\n\nCurrency Act 1965\n\nCurrency Determination No. 2 of 1993\n\nI, ROBERT McMULLAN, Parliamentary Secretary to the Treasurer, make the following Determination under subsection 13A (1) of the Currency Act 1965.\n\nDated 16 February 1993.\n\n![](image.001.png)\n\nParliamentary Secretary to the Treasurer for and on behalf of the Treasurer\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Determination may be cited as Currency Determination No. 2 of 1993.\n\nCommencement\n\n2. This Determination commences on 3 March 1993.\n\nInterpretation\n\n3\\. In this Determination:\n\n“$20 silver Olympic Centenary athletics coin” means a coin of the denomination of $20:\n\n(a) the specifications of which are set out in clause 5; and\n\n(b) the design of which is set out in clause 6;\n\n“$20 silver Olympic Centenary swimming coin” means a coin of the denomination of $20:\n\n(a) the specifications of which are set out in clause 7; and\n\n(b) the design of which is set out in clause 8;\n\n“$200 gold Olympic Centenary coin” means a coin of the denomination of $200;\n\n(a) the specifications of which are set out in clause 9; and\n\n(b) the design of which is set out in clause 10;\n\n“Act” means the Currency Act 1965.\n\nSpecifications of coins\n\n4. On and after 3 March 1993, the standard weight, the allowable variation from that standard weight, the design and the dimensions of the following coins are as set out in this determination:\n\n(a) a $20 silver Olympic Centenary athletics coin;\n\n(b) a $20 silver Olympic Centenary swimming coin;\n\n(c) a $200 gold Olympic Centenary coin.\n\nSpecifications of $20 silver Olympic Centenary athletics coin\n\n5. (1) The shape of a $20 silver Olympic Centenary athletics coin is circular.\n\n(2) The edge of the coin is milled.\n\n(3) The composition of the coin is 92.5% silver and 7.5% other metal.\n\n(4) The standard weight of the coin is 33.62 grams.\n\n(5) A variation of 0.37 grams from the standard weight is allowable.\n\n(6) The diameter of the coin is 40.13 millimetres,\n\n(7) The thickness of the coin is 3.30 millimetres.\n\nDesign of $20 silver Olympic Centenary athletics coin\n\n6. (1) The obverse of a $20 silver Olympic Centenary athletics coin bears an effigy of the Queen and the inscriptions “ELIZABETH II”, “AUSTRALIA 1993” and “20 DOLLARS”.\n\n(2) The reverse of the coin bears;\n\n(a) a representation of 3 female athletes, each wearing a medal and standing on a dais in a stadium; and\n\n(b) a depiction of the Olympic rings; and\n\n(c) the inscriptions “1896” and “1996” under the Olympic rings.\n\n(3) The edge of the coin bears the inscription “CITIUS, ALTIUS, FORTIUS”.\n\nSpecifications of $20 silver Olympic Centenary swimming coin\n\n7. (1) The shape of a $20 silver Olympic Centenary swimming coin is circular.\n\n(2) The edge of the coin is milled.\n\n(3) The composition of the coin is 92.5% silver and 7.5% other metal.\n\n(4) The standard weight of the coin is 33.62 grams.\n\n(5) A variation of 0.37 grams from the standard weight is allowable.\n\n(6) The diameter of the coin is 40.13 millimetres.\n\n(7) The thickness of the coin is 3.30 millimetres.\n\nDesign of $20 silver Olympic Centenary swimming coin\n\n8. (1) The obverse of a $20 silver Olympic Centenary swimming coin bears an effigy of the Queen and the inscriptions “ELIZABETH II”, “AUSTRALIA 1993” and “20 DOLLARS”.\n\n(2) The reverse of the coin bears:\n\n(a) a representation of 3 male swimmers at the edge of a swimming pool, and 1 male swimmer in the pool, joining hands; and\n\n(b) a depiction of the Olympic rings; and\n\n(c) the inscription “1896—1996” under the Olympic rings.\n\n(3) The edge of the coin bears the inscription “CITIUS, ALTIUS, FORTIUS”.\n\nSpecifications of $200 gold Olympic Centenary coin\n\n9. (1) The shape of a $200 gold Olympic Centenary coin is circular.\n\n(2) The edge of the coin is milled.\n\n(3) The composition of the coin is 11/12 gold and 1/12 other metal.\n\n(4) The standard weight of the coin is 16.954 grams.\n\n(5) A variation of 0.15 grams from the standard weight is allowable.\n\n(6) The diameter of the coin is 28.13 millimetres.\n\n(7) The thickness of the coin is 2.15 millimetres.\n\nDesign of $200 gold Olympic Centenary coin\n\n10\\. (1) The obverse of a $200 gold Olympic Centenary coin bears an effigy of the Queen and the inscriptions “ELIZABETH II”, “AUSTRALIA 1993” and “200 DOLLARS”.\n\n(2) The reverse of the coin bears:\n\n(a) a representation of a female gymnast in a forward diving position, with 3 star-like sources of light above her and 3 approximate reflections of the lights in front of her; and\n\n(b) a depiction of the Olympic rings and a laurel wreath; and\n\n(c) the inscriptions “1896” and “1996” under the Olympic rings.\n\n(3) The edge of the coin bears the inscription “CITIUS, ALTIUS, FORTIUS”.\n\n9300619","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This Determination stays within the Currency Act's established purpose of specifying coin standards. It does not broaden the Act's reach or add regulatory powers; it simply defines the technical and design attributes for three commemorative coins. In that sense the scope has not grown beyond the original intent of allowing determinations to set coin specifications."},"complexity_factors":["Short instrument (10 numbered clauses plus preamble and headings)","4 defined coin terms in the Interpretation section (clause 3)","Repeating, straightforward technical specifications for each coin (shape, edge, composition, weight, allowable variance, diameter, thickness)","Design rules specified separately for obverse, reverse and edge for each coin (clauses 6, 8, 10)","Minimal cross-referencing (clause 4 refers to clauses 5–10; otherwise few internal references)","No multi-layered exceptions, conditional logic, or complex compliance rules"],"plain_english_summary":"**What this instrument does (mechanically):**\n\n- It adds formal legal specifications and designs for three commemorative coins to operate as Australian currency from 3 March 1993 (see clauses 1–4).  The three coins are:\n  - a $20 silver \"Olympic Centenary athletics\" coin (clauses 5–6);\n  - a $20 silver \"Olympic Centenary swimming\" coin (clauses 7–8);\n  - a $200 gold \"Olympic Centenary\" coin (clauses 9–10).\n\n- For each coin the Determination sets out: shape and edge (circular, milled); metal composition (silver alloy or gold alloy); standard weight and allowable variation; diameter and thickness; what appears on the obverse (Queen's effigy and inscriptions) and reverse (artwork, Olympic rings, dates); and the edge inscription \"CITIUS, ALTIUS, FORTIUS\" (see clauses 5–10).  The Interpretation section (clause 3) defines the short names used for each coin.\n\n- Clause 4 states that from 3 March 1993 those specifications are the official standard for those coins.  The Determination is made under the Currency Act 1965 (preamble and clause 3 definition of \"Act\").\n\nWho this affects and how it matters:\n\n- The Royal Australian Mint (or any authorised minter) is required to produce those coins to the stated specifications if it mints them.  The Determination gives the technical and legal description needed for manufacture and for the coins to be recognisable as Australian currency (clauses 4–10).\n\n- Collectors, dealers and purchasers are affected economically: the coins have a declared face value ($20 or $200) but their market value will also depend on metal content, rarity and collector demand.  Where intrinsic metal value or collector value exceeds face value, holders will typically treat them as collectible items rather than spend them as everyday money.\n\n- Businesses and cash handlers (banks, retailers, vending, transport operators) may need to recognise the coins as legal tender in the specified denominations and, operationally, handle them according to their size, weight and composition (clauses 5, 7, 9).\n\nWhy this matters (official purpose and practical trade-offs):\n\n- Official-purpose claim: the Determination sets out commemorative Olympic Centenary coins (the design references 1896–1996 and Olympic symbols — clauses 6, 8, 10).  That explains the immediate purpose: to create defined, mintable commemorative currency.\n\n- Practical trade-offs and implementation considerations:\n  - Production cost vs face value: the coins use precious metals (sterling silver alloy and a high-gold alloy). Production cost and metal market prices can make intrinsic value greater than face value; when that occurs, coins tend to circulate less and become collector items (see compositions at clauses 5(3), 7(3), 9(3)).\n  - Budget and seigniorage effects: minting precious-metal commemoratives typically yields revenue if sold above face value, but also requires up-front metal procurement and manufacturing capacity. The Determination sets the technical constraints but does not set sale price or distribution (those are commercial decisions by the Mint or Treasurer's office).\n  - Administrative burden: minimal regulatory compliance is required beyond producing coins to the stated specification; there are no new reporting burdens in the text.\n  - Consumer/merchant adjustment: the three coins differ in size/weight from circulating coinage (see dimensions in clauses 5, 7, 9), so coin-handling equipment and retail workflows may need adjustment if the coins are received in commerce.\n  - Intellectual property and design control: the Determination fixes imagery and inscriptions (clauses 6, 8, 10). That constrains future alterations unless a further Determination is made.\n\nWho pays, who decides, and what behaviour changes:\n\n- Who decides: the Determination is made by the Parliamentary Secretary to the Treasurer under the Currency Act (preamble and clause 3 defining \"Act\").  Practically, the Mint and Treasury implement the specifications.\n- Who pays: direct purchasers/collectors pay market prices for minted coins; the state (Mint/Treasury) pays metal and manufacturing costs. If intrinsic metal value exceeds face value, private purchasers bear that cost; taxpayers are not directly obliged to redeem at intrinsic value.\n- Behaviour changes: the Mint will produce coins to these specs; collectors may purchase and hold them; routine circulation of these coins is likely limited if their metal or collector value exceeds face value.\n\nConcrete legal mechanics (where to look in the Determination):\n- Definitions and coin names: clause 3.\n- Effectively makes the specifications legally standard from 3 March 1993: clause 4.\n- Technical specs and designs: athletics coin clauses 5–6; swimming coin clauses 7–8; gold coin clauses 9–10.\n\nLimitations and implementation risks:\n- The Determination does not address issuance quantity, retail pricing, packaging, distribution channels or buy-back/redemption. Those commercial and policy choices sit outside the text.\n- Fluctuations in precious metal markets can affect whether coins circulate or become collector stores of value; the Determination fixes composition and dimensions but cannot control market prices.\n\nOverall, the instrument is a narrowly targeted technical specification that makes three commemorative coins lawful Australian currency by fixing their physical and decorative attributes (clauses cited: 3–10)."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination remains tightly scoped to its original purpose: establishing specifications for three specific commemorative Olympic coins. There is no scope creep; it does exactly what it says on the tin."},"complexity_factors":["Straightforward definitional structure with only 4 defined terms","Linear, non-nested provisions with no cross-references beyond internal clause references","No conditional logic, exceptions, or discretionary powers","Highly prescriptive, technical specifications presented in simple tabular-like format","Single purpose instrument with no interaction with other legislation beyond the parent Act citation"],"plain_english_summary":"This law creates three special commemorative coins to celebrate the 100th anniversary of the modern Olympic Games (1896–1996). It sets out the exact physical specifications and designs for:\n\n- A **$20 silver coin** featuring athletics (female medalists on a podium)\n- A **$20 silver coin** featuring swimming (male swimmers)\n- A **$200 gold coin** featuring gymnastics (a female diver)\n\nThe law specifies precise details like weight, size, metal composition, and what images and words appear on each side of the coins. For example, all three coins bear the Olympic motto \"CITIUS, ALTIUS, FORTIUS\" (Faster, Higher, Stronger) on their edges, the Queen's effigy on the front, and the Olympic rings on the back.\n\nThese coins were legal tender (official money) in Australia from 3 March 1993, though like most commemorative coins, they were primarily intended for collectors rather than everyday spending."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/currency-determination-no-2-of-1993","history":"/api/acts/currency-determination-no-2-of-1993/history","analysis":"/api/acts/currency-determination-no-2-of-1993/analysis","conflicts":"/api/acts/currency-determination-no-2-of-1993/conflicts","importantCases":"/api/acts/currency-determination-no-2-of-1993/important-cases","documents":"/api/acts/currency-determination-no-2-of-1993/documents"}}