Commonwealth legislation

Currency Determination No. 7 of 1992

In ForceCTH

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

3/10 complexity

This Determination adds a new legal tender denomination of $250 to the Currency Act 1965 and sets its full legal specifications: composition (11/12 gold, 1/12 other metal), shape, edge, weight and allowable tolerance, dimensions, four named designs (each with prescribed obverse and reverse inscriptions) and an issue price of $2,300. It takes effect on gazettal.

It affects the Mint/Treasury (who issue and certify coins), buyers/collectors (who pay a large premium above face value), and manufacturers (who must meet precise physical and design requirements).

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Currency Determination No. 7 of 1992.

Currency Determination No. 7 of 1992

Commonwealth of Australia

Currency Act 1965

Currency Determination No. 7 of 1992

I, ROBERT MCMULLAN, Parliamentary Secretary to the Treasurer, make the following Determination under the Currency Act 1965.

Dated 17 July 1992.

View image in the official source

Parliamentary Secretary to the Treasurer

for and on behalf of the Treasurer

View image in the official sourceCitation

1. This Determination may be cited as Currency Determination No. 7 of 1992.

[NOTE: This Determination commences on gazettal: see Acts Interpretation Act 1901, SS.46A and 48.]

Interpretation

2. In this Determination:

"$250 coin" means:

(a) a Princess Margaret coin; or

(b) a Princess of Wales coin; or

(d) a Queen Mother coin;

"Act" means the Currency Act 1965;

"Princess Margaret coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Princess of Wales coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Princess Royal coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Queen Mother coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

Schedule to the Act

The Act has effect, on and after 19 July 1992, as if:

(a) there were specified in the Schedule to the Act a reference to a denomination of "Two hundred and fifty dollars"; and

(b) there were specified in that Schedule, opposite to that denomination, as the standard composition of coins of that denomination, the expression "11/12 gold and 1/12 other metal".

Shape and edge of $250 coin

(1) The shape of a $250 coin is circular.

(2) The edge of the coin is milled

Composition of $250 coin

The composition of a $250 coin is 11/12 gold and 1/12 other metal.

Weight and dimensions of $250 coin

(1) The standard weight of a $250 coin is 16.95 grams.

(2) A variation of 0.20 grams from the standard weight is allowable.

(3) The diameter of a $250 coin is 28.12 millimetres.

(4) The thickness of a $250 coin is 2.10 millimetres.

Design of the Princess Margaret coin

(1) The obverse of the Princess Margaret coin bears an effigy of the Queen and the inscriptions "ELIZABETH II" and "AUSTRALIA 1992".

(2) The reverse of the coin bears:

(a) an effigy of Her Royal Highness The Princess Margaret, surrounded by a circle of crowns; and

(b) the inscriptions "ELIZABETH II 40TH ANNIVERSARY" and "250 DOLLARS".

Design of the Princess of Wales coin

(1) The obverse of the Princess of Wales coin bears an effigy of the Queen and the inscriptions "ELIZABETH II" and "AUSTRALIA 1992".

(2) The reverse of the coin bears:

(a) an effigy of Her Royal Highness the Princess of Wales, surrounded by a circle of crowns; and

(b) the inscriptions "ELIZABETH II 40TH ANNIVERSARY" and "250 DOLLARS".

Design of the Princess Royal coin

(1) The obverse of the Princess Royal coin bears an effigy of the Queen and the inscriptions "ELIZABETH II" and "AUSTRALIA 1992".

(2) The reverse of the coin bears:

(a) an effigy of Her Royal Highness the Princess Royal, surrounded by a circle of crowns; and

(b) the inscriptions "ELIZABETH II 40TH ANNIVERSARY" and "250 DOLLARS".

Design of the Queen Mother coin

(1) The obverse of the Queen Mother coin bears an effigy of the Queen and the inscriptions "ELIZABETH II" and "AUSTRALIA 1992".

(2) The reverse of the coin bears:

(a) an effigy of Her Majesty Queen Elizabeth, the Queen Mother, surrounded by a circle of crowns; and

(b) the inscriptions "ELIZABETH II 40TH ANNIVERSARY" and "250 DOLLARS".

Issue price of $250 coin

For the purposes of subsection 14A (1) of the Act, the issue price of a $250 coin is $2,300.

9216209

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Currency Determination No. 7 of 1992

Commonwealth of Australia

Currency Act 1965

Currency Determination No. 7 of 1992

I, ROBERT MCMULLAN, Parliamentary Secretary to the Treasurer, make the following Determination under the Currency Act 1965.

Dated 17 July 1992.

Parliamentary Secretary to the Treasurer

for and on behalf of the Treasurer

Citation

1. This Determination may be cited as Currency Determination No. 7 of 1992.

[NOTE: This Determination commences on gazettal: see Acts Interpretation Act 1901, SS.46A and 48.]

Interpretation

2. In this Determination:

"$250 coin" means:

(a) a Princess Margaret coin; or

(b) a Princess of Wales coin; or

(d) a Queen Mother coin;

"Act" means the Currency Act 1965;

"Princess Margaret coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Princess of Wales coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Princess Royal coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

"Queen Mother coin" means a coin:

(a) of the denomination of $250; and

(b) the specifications of which are set out in clauses 3 to 6 (inclusive) of this Determination; and

Schedule to the Act

The Act has effect, on and after 19 July 1992, as if:

(a) there were specified in the Schedule to the Act a reference to a denomination of "Two hundred and fifty dollars"; and

(b) there were specified in that Schedule, opposite to that denomination, as the standard composition of coins of that denomination, the expression "11/12 gold and 1/12 other metal".