{"id":"F2008B00124","name":"Currency Determination No. 3 of 1998","slug":"currency-determination-no-3-of-1998","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72579,"registerId":"commonwealth-F2008B00124-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Currency Determination No. 3 of 1998","content":"Commonwealth of Australia\n\nCurrency Act 1965\n\nCurrency Determination No. 3 of 1998\n\nI, RODERICK CHARLES KEMP, Assistant Treasurer, acting for the Treasurer, make this Determination under subsection 13A (1) of the Currency Act 1965.\n\nDated 12 March 1998.\n\nC.R KEMP\n\nAssistant Treasurer\n\nName of Determination\n\n1. This Determination is Currency Determination No. 3 of 1998.\n\nCommencement\n\n2. This Determination commences on 1 April 1998.\n\nSpecification of coins\n\n3. This Determination specifies, for a coin having the denomination and standard composition specified in columns 1 and 2 of Part 1 of the Schedule, the standard weight, the allowable variation from that weight, the dimensions and the design set out in columns 3, 4 and 5 of that Part.\n\nApplication of Determination\n\n4. This Determination does not affect any other determination of the specifications of a coin.\n\nSCHEDULE Clause 3\n\nPART 1—SPECIFICATIONS OF COINS\n\n```html\n

Column 1

Column 2

Column 3

Column 4

Column 5

Denomination

Standard

composition

Standard weight and allowable

Dimensions

Design

variation (g)

(1)
Diameter
(mm)

(2)
Thickness
(mm)

(1)
Shape

(2)
Edge

(3)
Obverse

(4)
Reverse

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

O3

R70

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

O3

R71

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

O3

R72

$5

99.9% silver

31.635 0.500

40.60

4.00

S1

E5

O4

R73

$5

99.9% silver

31.635 0.500

40.60

4.00

S1

E5

O4

R74

$100

99.99% gold

10.021 0.020

25.10

2.40

S1

E1

O4

R75

\n```\n\nPART 2—EXPLANATION OF SYMBOLS \n\n| Design Feature | Symbol | Explanation |\n| -------------- | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Shape | S1 | Circular |\n| Edge | E1 | Continuous milled |\n| Edge | E5 | Plain edge with the inscription “GAMES OF THE XXVII OLYMPIAD” (twice appearing) evenly spaced around the edge to read with the reverse of the coin facing up. |\n| Obverse | O3 | An effigy of the Queen, surrounded by the inscriptions:(a) “ELIZABETH II”; and(b) “AUSTRALIA 2000”. |\n| Obverse | O4 | An effigy of the Queen, surrounded by:(a) the inscriptions:(i) “ELIZABETH II”; and(ii) “AUSTRALIA 2000”; and(b) an inscription stating, in Arabic numerals, the amount in dollars of the denomination of the coin, followed by the word “DOLLARS”. |\n| Reverse | R70 | A representation of a football player striking at a football superimposed on a representation of Olympic flames, surrounded by:(a) the inscriptions:(i) “Sydney 2000”; and(ii) “5 DOLLARS”; and(b) a representation of the Olympic rings. |\n| Reverse | R71 | A representation of a triathlete emerging from the water superimposed on a representation of Olympic flames, surrounded by:(a) the inscriptions:(i) “Sydney 2000”; and(ii) “5 DOLLARS”; and(b) a representation of the Olympic rings. |\n| Reverse | R72 | A representation of a cyclist riding a bicycle superimposed on a representation of Olympic flames, surrounded by:(a) the inscriptions:(i) “Sydney 2000”; and(ii) “5 DOLLARS”; and(b) a representation of the Olympic rings. |\n| Reverse | R73 | A circle, immediately inside the ring, comprising:(a) representations of coral; and(b) a tablet, enclosing:(i) the inscription “Sydney 2000”; and(ii) a representation of the Olympic rings in Olympic colours;and surrounding:(c) a representation of 2 great white sharks; and(d) the letter “C”. |\n| Reverse | R74 | A circle, immediately inside the ring, comprising:(a) representations of sailing ships; and(b) a tablet, enclosing:(i) the inscription “Sydney 2000”; and(ii) a representation of the Olympic rings in Olympic colours;and surrounding:(c) a motif border, surrounding:(i) a representation of Australia with superimposed figures, footprints and motifs; and(ii) the letter “C”. |\n| Reverse | R75 | Representations of elements of an traditional analog stopwatch and a modern digital heart‑rate monitor, and the inscription “DEDICATION”, arranged in a circle, immediately inside the rim, enclosing:(a) a representation of a tracksuit‑clad athlete training in the rain; and(b) the letter “P”; and(c) a tablet, enclosing:(i) the inscription “Sydney 2000”; and(ii) a representation of the Olympic rings. |","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The Determination stays within the established statutory purpose of the Currency Act—to specify the physical and design characteristics of Commonwealth coins. It authorises commemorative Olympic-themed coins, which is a normal use of the power to set coin specifications, rather than a substantive expansion beyond the Act’s ordinary scope."},"complexity_factors":["Short, self-contained determination (3 clauses plus schedule).","One main cross-reference to the enabling statute: subsection 13A(1) of the Currency Act 1965.","Schedule contains a tabular list with multiple coin entries (about 9 rows specifying variants).","Part 2 decodes the symbol shorthand used in the table (limited number of symbols: S1, E1, E5, O3, O4, R70–R75).","Minimal conditional logic and no nested exceptions (simple affirmative specifications).","Technical tolerances (weights ±) and multiple metal compositions add operational detail but not legal complexity."],"plain_english_summary":"**What this instrument does (mechanically)\n\n- This is a formal specification (a \"determination\") made under the Currency Act 1965 that sets out exact manufacturing specifications for a set of commemorative Australian coins (clause 3).\n- It lists each coin's denomination, metal composition, standard weight and allowable weight variation, diameter, thickness, shape and edge style, and the obverse and reverse designs (Schedule, Part 1). Part 2 decodes the shorthand symbols used for shape, edge and design elements.\n- The Determination takes effect on 1 April 1998 (clause 2) and expressly does not alter or repeal other coin-specification determinations (clause 4).\n\nWho it affects\n\n- The Royal Australian Mint (and any contractor manufacturing the coins) — they must produce coins to these exact specifications.\n- Government officials who approve coin designs and production (the Assistant Treasurer made the instrument under the statutory power in subsection 13A(1) of the Currency Act 1965).\n- Buyers and collectors of these coins, dealers in commemorative/precious-metal coins, and institutions that handle coins (for authentication, storage, sales).\n- Indirectly, entities that manage intellectual property or licensing for logos and marks used on the coins (for example, Olympic insignia), because production will require lawful use of those images.\n\nWhy it matters (practical effects and mechanisms)\n\n- Legal tender status and standardisation: By fixing composition, dimensions and design, the instrument creates legally authorised versions of these coins that the Mint can strike and offer for sale or release into circulation (Schedule, Part 1).\n- Quality-control and interchangeability: Precise tolerances (weight ±, diameter, thickness) define what counts as an authentic coin and set standards for assays, vending machines, banking and numismatic grading.\n- Precious-metal value and market incentives: Some specified coins contain silver or gold (e.g. 99.9% silver $5 coins and a 99.99% gold $100 coin). That creates the ordinary market effect that the intrinsic (metal) value and collector demand may exceed face value, which influences how the coins are marketed and held rather than used as everyday change.\n- Revenue and distribution choices: The Mint (or government) decides whether coins are sold to collectors, held as bullion, or released into circulation. The Determination itself does not set prices or issue limits — it only authorises the precise physical forms and designs (clause 3; Schedule).\n\nOfficial purpose-claims and the practical trade-offs\n\n- The instrument is plainly aimed at authorising commemorative Olympic-themed coins for Sydney 2000 (design inscriptions such as \"Sydney 2000\", Olympic rings, and sporting motifs are specified in Part 2). That is an administrative action: it enables the striking of commemorative coins that use protected insignia.\n- Costs and incentives: producing precious-metal or specially inscribed collectors' coins can generate concentrated financial benefits (mint revenue, numismatic sales) while imposing small diffuse costs (administrative oversight, potential licensing fees to rights-holders of Olympic symbols). The Determination does not itself appropriate revenue or set royalties; those are implementation details for the Mint and the relevant rights-holders.\n- Implementation risks and compliance burdens: the main implementation risks are technical (manufacturing to the tolerances listed) and legal (ensuring lawful use of Olympic insignia and any artist or designer moral-rights/licensing arrangements). Businesses that handle and authenticate coins must recognise a variety of closely similar coin variants (multiple $5 types with different reverses and compositions) when buying, selling or valuing coins.\n- Effects on private choice and markets: these coins are likely to be treated as collectibles or bullion by private actors rather than media of daily exchange. That changes demand drivers (collectability, metal price, rarity) and imposes little constraint on ordinary commerce.\n\nConcrete allocation of decision-making, costs and behaviour\n\n- Who decides: the Assistant Treasurer (acting under section 13A(1) of the Currency Act 1965) sets the physical specifications; subsequent operational decisions (mintage numbers, distribution, pricing, licensing) sit with the Mint and relevant rights-holders.\n- Who pays: production costs and any licensing fees are borne by the Mint (ultimately the Commonwealth or the Mint's customers, depending on how sales are structured). If metal content exceeds face value, buyers/collectors pay market prices above face value; the government bears little direct transactional cost of specifying the coins.\n- Behaviour changes: the specification permits the Mint to strike commemorative coins; collectors, investors, and dealers will choose to buy/hold based on metal content and design. Retail or vending use is unlikely for these high‑metal-value or commemorative pieces.\n\nNotable mechanisms and administrative features (where to look)\n\n- Clause 3 + Schedule (Part 1): the binding technical specifications (weights, dimensions, composition, design codes).\n- Schedule (Part 2): explains shorthand codes (S1, E1, O3, R70 etc.) used to describe the designs and edges.\n- Clause 4: preserves other existing determinations (so this is additive, not replacing prior specifications).\n\nSummary takeaway\n\n- This is a narrowly focused, technical instrument that authorises and standardises a set of Olympic-themed commemorative coins (various $5 silver and base-metal $5 coins and a $100 gold coin), fixing their physical characteristics and artwork. The main practical effects are on the Mint's production process, collectors and the market for commemorative/precious‑metal coins; it imposes technical manufacturing requirements and creates the legal basis for striking these specific coin variants (Schedule, Parts 1 and 2)."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination remains tightly scoped to its original purpose: specifying the physical characteristics of commemorative Sydney 2000 Olympic coins. It does not expand beyond the technical minting specifications authorized by the Currency Act 1965."},"complexity_factors":["Very short instrument (only 4 operative clauses plus schedule)","No defined terms section - all technical specifications appear in tables","No cross-references to other legislation beyond the empowering provision (Currency Act 1965, s 13A(1))","Simple conditional logic: if a coin matches columns 1-2, then specifications in columns 3-5 apply","Single non-derogation clause (clause 4) with no exceptions or nested conditions","Technical complexity is present but contained entirely within the tabular schedule (weights, dimensions, alloy compositions)","No temporal limitations, sunset clauses, or transitional provisions"],"plain_english_summary":"This instrument authorises the Royal Australian Mint to issue specific Sydney 2000 commemorative coins — three $5 base‑metal, two $5 silver and one $100 gold — and prescribes their exact weight, dimensions, metal purity and imagery so they qualify as legal tender. \n\nIt affects the Mint, collectors and businesses that verify authenticity; it matters because it guarantees official status, consistent standards and helps prevent counterfeiting."}},"importantCases":[],"_links":{"self":"/api/acts/currency-determination-no-3-of-1998","history":"/api/acts/currency-determination-no-3-of-1998/history","analysis":"/api/acts/currency-determination-no-3-of-1998/analysis","conflicts":"/api/acts/currency-determination-no-3-of-1998/conflicts","importantCases":"/api/acts/currency-determination-no-3-of-1998/important-cases","documents":"/api/acts/currency-determination-no-3-of-1998/documents"}}