{"id":"F2008B00129","name":"Currency Determination No. 5 of 1998","slug":"currency-determination-no-5-of-1998","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72605,"registerId":"commonwealth-F2008B00129-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Currency Determination No. 5 of 1998","content":"Commonwealth of Australia\n\nCurrency Act 1965\n\nCurrency Determination No. 5 of 1998\n\nI, Charles Roderick Kemp, Assistant Treasurer, make this Determination under subsection 13A (1) of the Currency Act 1965.\n\nDated 16 June 1998.\n\nC.R. KEMP\n\nAssistant Treasurer\n\nName of Determination\n\n1. This Determination is Currency Determination No. 5 of 1998.\n\nCommencement\n\n2. (1) Subject to subclause (2), this determination commences on 29 June 1998.\n\n(2) Clause 5 is taken to have commenced on 20 March 1998.\n\nSpecification of coins\n\n3. This Determination specifies, for a coin having the denomination and standard composition specified in columns 2 and 3 of Part 1 of the Schedule, the standard weight, the allowable variation from that weight, the dimensions and the design specified in columns 4, 5 and 6 of that Part.\n\nApplication of Determination\n\n4. This Determination does not affect any other determination of the specifications of a coin.\n\nAmendment of Currency Determination No. 4 of 1998\n\n5. Clause 3 of Currency Determination No. 4 of 1998 is amended as follows:\n\n(a) omit “columns 1 and 2”, substitute “columns 2 and 3”;\n\n(b) omit “columns 3, 4 and 5”, substitute “columns 4, 5 and 6”.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSCHEDULE Clause 3\n\nPART 1—SPECIFICATIONS OF COINS\n\n```html\n

Column 1

Column 2

Column 3

Column 4

Column 5

Column 6

Item

Denomination

Standard

composition

Standard weight and allowable variation (g)

Dimensions

Design

(1)
Diameter
(mm)

(2)
Thickness
(mm)

(1)
Shape

(2)
Edge

(3)
Obverse

(4)
Reverse

101

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

O3

R85

102

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

03

R86

103

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

03

R87

104

$5

Copper, zinc, aluminium, tin

20.000 0.500

38.90

2.65

S1

E1

03

R88

105

$5

99.9% silver

31.635 0.500

40.60

4.00

S1

E5

04

R89

106

$5

99.9% silver

31.635 0.500

40.60

4.00

S1

E5

04

R90

107

$100

99.9% gold

10.021 0.020

25.10

2.40

S1

E1

04

R91

\n```\n\nPART 2—EXPLANATION OF SYMBOLS\n\n| Column 1 | Column 2 | Column 3 | Column 4 |\n| -------- | -------------- | -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n| Item | Design Feature | Symbol | Explanation |\n| 201 | Shape | S1 | Circular |\n| 202 | Edge | E1 | Continuously milled |\n| 203 | 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| 204 | Obverse | O3 | An effigy of the Queen, surrounded by the inscriptions:(a) “ELIZABETH II”; and(b) “AUSTRALIA 2000”. |\n| 205 | 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| 206 | Reverse | R85 | A representation of two handball players in action, 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| 207 | Reverse | R86 | A representation of a kayak competitor challenging a difficult water course, 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| 208 | Reverse | R87 | A representation of two wrestlers engaging, superimposed on a representation of Olympic flames, surrounded by:(a) the inscriptions:(i) “Sydney 2000”; and(ii)“5 DOLLARS”; and(b) representation of the Olympic rings. |\n| 209 | Reverse | R88 | A representation of a softball player striking a ball, 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| 210 | Reverse | R89 | A circle, immediately inside the rim, comprising:(a) representations of leaves and flowers of the Desert Pea; 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 a frill‑neck lizard; and(d) the letter “P” or “C”. |\n| 211 | Reverse | R90 | A circle, immediately inside the rim, comprising:(a) representations of various means of transport that brought immigrants to Australia; 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 faces showing a wide variety of ages, ethnic groups and both sexes; and(d) the letter “P” or “C”. |\n| 212 | Reverse | R91 | A circle, immediately inside the rim, comprising:(a) a representation of items of equipment used in training and practice by athletes; and(b) the inscription “DEDICATION”;and surrounding:(c) a representation of athletes in training in the gymnasium; and(d)the letter “P”; and(e) a tablet enclosing:(i) the inscription “Sydney 2000”; and(ii) a representation of the Olympic rings. |","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This Determination is narrowly technical: it specifies the physical and design characteristics of a defined set of commemorative and bullion coins and makes a minor correction to column references in an earlier Determination. It does not broaden the statutory power under the Currency Act, create new regulatory obligations beyond the technical specifications, or change who may issue legal tender. The backdating of clause 5’s commencement is a timing/legal‑record device rather than a substantive expansion of scope (cl.2(2); cl.5)."},"complexity_factors":["Short statutory instrument: 5 substantive clauses (1–5) plus Schedule (Parts 1–2)","Schedule Part 1 contains 7 item rows (items 101–107) describing coin specifications","Schedule Part 2 contains 12 design‑feature entries (items 201–212) that explain coded symbols used in Part 1","Cross‑reference to an earlier instrument (Currency Determination No. 4 of 1998) via a narrow amendment (cl.5)","One conditional commencement provision: main commencement 29 June 1998 but clause 5 is treated as commencing on 20 March 1998 (cl.2)","Use of coded symbols (O3/O4, R85–R91, S1, E1, E5) requires consulting both parts of the Schedule to interpret the table"],"plain_english_summary":"**What this instrument does (mechanically):**\n\n- This is a Currency Determination made under the Currency Act 1965 by the Assistant Treasurer. (cl.1; cl.3)\n- It prescribes the physical specifications for a set of Australian coins (denominations, metal composition, standard weight and allowable variation, diameter, thickness, shape, edge and the obverse/reverse designs). Those specifications are listed as items in Schedule, Part 1 (items 101–107). (cl.3; Schedule Part 1)\n- Part 2 of the Schedule decodes short symbols used in the table (for example, S1 = circular; E1 = continuously milled; O3/O4 = two obverse (Queen) motifs; R85–R91 = different reverse designs). (Schedule Part 2)\n- The Determination starts on 29 June 1998 except that the amendment to an earlier Determination (see below) is treated as having begun on 20 March 1998. (cl.2)\n- It also makes a narrow amendment to an earlier instrument (Currency Determination No. 4 of 1998) changing column cross‑references in that earlier instrument. That amendment is applied by clause 5. (cl.5)\n- Clause 4 states this Determination does not affect any other determination of coin specifications (i.e. it sits alongside, not in place of, other determinations). (cl.4)\n\n**Who it affects:**\n\n- The Royal Australian Mint and any contractors that make Australia’s coins (they must use these technical specifications when producing the listed coins). (cl.3; Schedule)\n- Banks, cash‑handling businesses, retailers and anyone that handles or accepts the specified coins as legal tender (so they know the official dimensions and designs to identify genuine coins). (cl.3; Schedule)\n- Coin distributors, numismatic (collector) markets and purchasers of commemorative or bullion coins (the rules define what is issued and allow collectors and dealers to verify authenticity). (Schedule Parts 1–2)\n- The general public to the extent the coins circulate or are presented as legal tender or as collectible/bullion items (they can expect the specified physical characteristics). (cl.3)\n\n**Why it matters (source’s stated purpose, and how that translates into effects):**\n\n- The Schedule shows the coins are commemorative/series pieces associated with the Sydney 2000 Olympic Games (designs and inscriptions such as “Sydney 2000” and Olympic rings appear in the reverse designs). By specifying designs and physical standards the Determination authorises those coins as official Australian currency (mechanical effect: enables minting and distribution). (cl.3; Schedule Part 1 and Part 2)\n\n- Tests against costs, incentives and trade‑offs:\n - Who pays: production costs are borne by the Mint (a government entity) and ultimately recovered through sales and circulation; any seigniorage (difference between face value and production/retail price) accrues to government. The Determination itself does not set prices — it only sets physical specifications. (cl.3)\n - Incentives: the Mint has a clear incentive to produce coins that meet the specification. Collectors and investors have incentives to buy and hoard limited/commemorative issues; hoarding reduces circulation but can increase government revenue from collector sales. (Schedule)\n - Trade‑offs/opportunity costs: resources allocated to manufacture commemorative or bullion coins (design, tooling, marketing) are not available for other Mint outputs or private minting activity (private operators cannot issue legal tender). The Determination preserves the Mint’s exclusive role in producing legal tender coins. (cl.3)\n - Implementation risks & compliance burden: the obligations are technical and primarily affect the Mint and cash‑handling organisations — compliance cost is limited to producing/identifying coins to the specifications. For ordinary businesses and individuals the compliance burden is effectively zero beyond routine cash‑handling checks. (cl.3; Schedule)\n - Market effects: the instrument does not create new regulatory approvals or licensing regimes for private firms beyond the existing legal framework for currency. It may bolster a collectors’ market and the bullion market for the listed precious‑metal coins ($100 gold, $5 silver issues). That can affect secondary‑market prices but does not alter competition rules in broader markets. (Schedule items 105–107)\n\n**Who decides and what behaviour changes:**\n\n- The Assistant Treasurer exercised a statutory power under the Currency Act 1965 to make these technical specifications. The Mint (and cash handlers) must follow them when producing or authenticating the specified coins. (cl.3)\n- Behavioural change is limited and specific: the Mint will mint coins to these exact specifications; banks and cash handlers will rely on these specifications when accepting or authenticating the coins; collectors and dealers will trade and price coins knowing these are the officially specified types. (cl.3; Schedule)\n\n**Other mechanical points of note:**\n\n- The Schedule uses coded symbols for repeated design features (S1, E1, O3/O4, R85–R91) — those codes are explained in Part 2 so the table is precise and machine‑readable for production and verification. (Schedule Parts 1–2)\n- Clause 5 is a narrow technical amendment to a prior determination (it replaces column number references). The Determination explicitly preserves other existing determinations. (cl.4; cl.5)\n\n(References in parentheses are to the clauses and Schedule of this Determination.)"},"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":3,"scope_assessment":{"changed":false,"description":"This determination remains tightly focused on its original purpose: specifying the technical details of commemorative Olympic coins. It does not expand beyond the Currency Act 1965's framework for coin specifications."},"complexity_factors":["Extensive tabular data with 7 rows of coin specifications across 10 columns","Cross-referencing design codes (S1, E1, E5, O3, O4, R85-R91) requiring lookup in Part 2","Retrospective commencement clause (clause 5 deemed to commence 20 March 1998)","Amendment of prior instrument (Currency Determination No. 4 of 1998) with specific textual substitutions","Technical measurements with tolerances (e.g., '20.000 ± 0.500')","Nested structure: Part 1 (specifications) and Part 2 (symbol explanations)"],"plain_english_summary":"This instrument sets the official specifications for seven Sydney 2000 commemorative coins—mostly $5 pieces (including two silver variants) and one $100 gold coin—so the Royal Australian Mint can lawfully produce them and banks, retailers and collectors can recognise them as legal tender. It fixes a technical error in an earlier determination and prescribes each coin’s metal, weight, dimensions, allowable tolerances and referenced designs celebrating Olympic sports and national themes."}},"importantCases":[],"_links":{"self":"/api/acts/currency-determination-no-5-of-1998","history":"/api/acts/currency-determination-no-5-of-1998/history","analysis":"/api/acts/currency-determination-no-5-of-1998/analysis","conflicts":"/api/acts/currency-determination-no-5-of-1998/conflicts","importantCases":"/api/acts/currency-determination-no-5-of-1998/important-cases","documents":"/api/acts/currency-determination-no-5-of-1998/documents"}}