{"id":"F2006B00126","name":"Currency (Perth Mint) Determination 2003 (No. 1)","slug":"currency-perth-mint-determination-2003-no-1","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436723,"registerId":"F2006B00126-fast-fetch-1775953834847","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Currency (Perth Mint) Determination 2003 (No. 1)","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nCurrency (Perth Mint) Determination 2003 (No. 1)\n\nI, IAN GORDON CAMPBELL, Parliamentary Secretary to the Treasurer, make this Determination under paragraph 13 (2) (b) and subsection 13A (1) of the Currency Act 1965.\n\nDated 8 April 2003\n\n \n\nIAN CAMPBELL\n\nParliamentary Secretary to the Treasurer\n\nContents\n\n 1 Name of Determination \n\n 2 Commencement \n\n 3 Specification of coins \n\n 4 Application of Determination \n\nSchedule 1 \n\nPart 1 Specification of coins \n\nPart 2 Explanation of symbols \n\n \n\n1 Name of Determination\n\n  This Determination is the Currency (Perth Mint) Determination 2003 (No. 1).\n\n2 Commencement\n\n  This Determination commences on gazettal.\n\n3 Specification of coins\n\n  This Determination specifies, for a coin:\n\n (a) the denomination and standard composition, in columns 2 and 3 of Part 1 of Schedule 1; and\n\n (b) the standard weight, the allowable variation from that weight, the dimensions and the design in columns 4, 5 and 6 of that Part.\n\n4 Application of Determination\n\n  The specifications in this Determination do not affect any other Determination of the specification of a coin.\n\nSchedule 1    \n\n(section 3)\n\nPart 1 Specification of coins\n\n \n\n- Column 1 Column 2 Column 3 Column 4 Column 5 Column 6\n- Item Denomination (and, where appropriate, nominal weight in ounces and kilograms) Standard composition Standard weight and allowable variation (g) Dimensions Design\n- (1) Diameter (mm) (2) Thick-ness (mm) (1) Shape (2) Edge (3) Obverse (4) Reverse\n- 102 $1 (1 oz) Not less than 99.9% silver 31.635  0.500 40.60 4.00 S1 E1 O1 R338\n\n\nPart 2 Explanation of symbols\n\n \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 | Continuous milled |\n| 203 | Obverse | O1 | A circle of raised beads, immediately inside the rim, enclosing:<br> (a) the inscriptions:<br> (i) ‘ELIZABETH II’; and<br> (ii) ‘AUSTRALIA’; and<br> (b) an inscription stating, in Arabic numerals, the amount, in dollars, of the denomination of the coin, followed by the word ‘DOLLAR’ or ‘DOLLARS’, as the case requires;<br>that, in turn, surround an effigy of Queen Elizabeth II, and the monogram ‘IRB’. |\n| 204 | Reverse | R338 | A circle, immediately inside the rim, enclosing:<br> (a) a head and shoulders image of HRH Prince William of Wales and background pad printed in colour; and<br> (b) the inscriptions:<br> (i) ‘H.R.H Prince William of Wales’; and<br> (ii) ‘twenty-first BIRTHDAY 21.06.2003’; and<br> (iii) ‘1oz. 999 SILVER; and<br> (iv) ‘P’ and ‘LC’; and<br> (c) a representation of the full Coat of Arms of HRH the Prince of Wales. |\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The Determination stays within the original and routine purpose of the Currency Act’s delegated power: to specify the physical and design characteristics of a coin produced by the Perth Mint. It does not expand the legal scope of the power or introduce new regulatory instruments; it merely creates a product‑specific specification (a commemorative/bullion $1, 1 oz silver coin)."},"complexity_factors":["Very short instrument (4 small sections + one Schedule)","Single coin specified (one item, Item 102)","Few defined symbols (S1, E1, O1, R338) explained in Part 2","Simple numeric tolerances (weight ±0.500 g) and fixed dimensions","Minimal cross‑referencing (references Currency Act and that it does not affect other Determinations)","No nested exceptions or conditional logic"],"plain_english_summary":"**What this Determination does (mechanics)**\n\n- It legally specifies the technical design and physical characteristics of a single Perth Mint coin: a $1, 1‑ounce silver coin. (The Determination is made under powers in the Currency Act 1965.)\n\n- The specification (see section 3 and Schedule 1) includes:\n  - Metal purity: not less than 99.9% silver.\n  - Standard weight: 31.635 g with an allowable variation of ±0.500 g.\n  - Diameter: 40.60 mm; Thickness: 4.00 mm.\n  - Shape and edge: circular with a continuous milled edge.\n  - Obverse (front): effigy of Queen Elizabeth II with inscriptions including ‘ELIZABETH II’, ‘AUSTRALIA’, the face value in Arabic numerals and the monogram ‘IRB’ (see Schedule 1, Part 2, symbol O1).\n  - Reverse (back): head‑and‑shoulders portrait of Prince William, a colour pad‑printed background, inscriptions including ‘H.R.H Prince William of Wales’, ‘twenty‑first BIRTHDAY 21.06.2003’, ‘1oz. 999 SILVER’, mint marks ‘P’ and ‘LC’, and the Prince’s full Coat of Arms (see symbol R338).\n\n- Section 4 says these specifications do not alter any other existing coin specifications made by other Determinations.\n\n**Who this affects**\n\n- The Perth Mint: allows it to produce this specific commemorative/bullion coin to the stated standard.\n- Buyers and collectors of precious metal coins: they get a defined product (weight, purity, dimensions, imagery, mint marks).\n- Currency authorities (Treasury/the Parliamentary Secretary): they exercise and record the delegated power to define coin specifications.\n- Merchants and the public: technically the coin is denominated $1 (legal tender), but its silver content and collectible features primarily determine its market use and value.\n\n**Why it matters (practical consequences, trade‑offs and incentives)**\n\n- Practical effect: it authorises minting and sale of a named 1 oz silver coin with a particular appearance and technical standard. That reduces uncertainty for buyers and for secondary market trading because the coin’s specifications are set in law (see section 3 and Schedule 1).\n\n- Concentrated benefits vs diffuse costs: the main beneficiaries are the Perth Mint and purchasers of this commemorative/bullion coin. Costs to the government are minimal in direct fiscal terms because these coins are typically sold above face value; routine administration and record‑keeping are the principal public costs.\n\n- Seigniorage and face value: the face value ($1) is materially lower than the intrinsic metal value of 1 oz of .999 silver. That makes the coin primarily a numismatic/bullion product rather than circulating money. The Determination does not change taxation, sales, or consumer pricing — those are set by market and other laws.\n\n- Market and competition effects: the Determination is product‑specific and does not restrict other firms from selling competing bullion products. It enables the Perth Mint to offer a legally specified product, which can affect consumer choice by adding a certified option to the market.\n\n- Implementation, compliance and risk: administrative burden is low — the Determination records technical details (weight, dimensions, design) and uses a symbol key to keep the document compact. Enforcement risk is limited to ensuring minted coins meet the stated tolerances.\n\n- Bureaucratic discretion and precedent risk: the instrument exercises delegated authority (paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965). Continued use of this delegated power means future product specifications can be created by the same mechanism; the instrument itself does not broaden that power.\n\n**Where to look in the text**\n\n- Made under paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965 (stated at the front).\n- Section 3 and Schedule 1, Part 1 set denomination, composition, weight, dimensions and design columns.\n- Schedule 1, Part 2 decodes the symbols S1, E1, O1 and R338 that describe shape, edge, obverse and reverse.\n\n"},"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 serves its original narrow purpose exactly as intended. It specifies a single commemorative coin issue without expanding beyond the technical mandate of the Currency Act 1965. The scope remains tightly constrained to coin specification."},"complexity_factors":["Very short document (4 operative sections plus schedule)","Only 1 defined coin specification in the table","Minimal cross-referencing (only references back to the parent Currency Act 1965)","Simple conditional logic—section 4 contains a straightforward 'savings clause' protecting other determinations","Technical but not legal complexity: the complexity lies in the metallurgical specifications (silver purity, weight tolerances) rather than legal drafting","Self-contained design specifications in Part 2 of Schedule 1"],"plain_english_summary":"This instrument authorises the Perth Mint to produce a special $1 commemorative silver coin for Prince William’s 21st birthday and declares it legal tender. It prescribes precise manufacturing and design standards (metal purity, weight/dimensions and specific obverse/reverse imagery) so the coin complies with the Currency Act. It affects the Mint, collectors, and anyone handling this collectible legal‑tender coin."}},"importantCases":[],"_links":{"self":"/api/acts/currency-perth-mint-determination-2003-no-1","history":"/api/acts/currency-perth-mint-determination-2003-no-1/history","analysis":"/api/acts/currency-perth-mint-determination-2003-no-1/analysis","conflicts":"/api/acts/currency-perth-mint-determination-2003-no-1/conflicts","importantCases":"/api/acts/currency-perth-mint-determination-2003-no-1/important-cases","documents":"/api/acts/currency-perth-mint-determination-2003-no-1/documents"}}