1
Name of Determination \[see Note 1\]
1 Name of Determination [see Note 1]
This Determination is the Currency (Perth Mint) Determination 2010 (No. 1).
//
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Commonwealth legislation
**What this instrument does (mechanics)
Adds a long list of Perth Mint coins to the legal framework that the Currency Act 1965 controls, by specifying for each coin: the denomination, the metal purity (standard composition), the nominal weight and allowable weight variation, the physical dimensions (diameter/shape/thickness), and an encoded description of the design to appear on the coin (obverse and reverse). (See sections 4, 5 and Schedule 1, Part 1.)
Explicitly inserts a $1,000,000 denomination and declares its standard composition as at least 99.99% gold. (See section 4(3).)
Explains the shorthand used in Part 1 to describe coin designs: each code (for example O1, R13, S1, E1) is mapped to a plain‑language design specification (for example effigy of the Queen, kangaroo reverse, circular shape, milled edge). (See section 6 and Schedule 1, Part 2.)
Comes into force the day after registration. (See section 2.)
Who it affects
The Perth Mint: it authorises and constrains the physical specifications and inscriptions of the Perth Mint’s legal‑tender coins; the Mint must manufacture to these tolerances and designs. (Sections 4–6; Schedule 1.)
Market participants who buy, sell or store bullion and collector coins (dealers, investors, numismatists, banks, vault operators): the Determination defines what coins have official legal‑tender status and their precise technical specification, which affects authentication, valuation and saleability. (Schedule 1.)
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Direct links to the current provisions in Currency (Perth Mint) Determination 2010 (No. 1).
1 Name of Determination [see Note 1]
This Determination is the Currency (Perth Mint) Determination 2010 (No. 1).
2 Commencement [see Note 1]
This Determination commences on the day after it is registered.
3 Definition
In this Determination:
Act means the Currency Act 1965.
4 Specification of denomination and standard composition
(1) For paragraph 13 (2) (a) of the Act, the Act has effect, on and after the day on which this Determination commences, as if the reference in the Schedule to the Act, opposite to the denomination of a coin specified, to the standard composition of coins of that denomination included a reference to the standard composition specified in the table below.
| Denomination of coin | Standard composition |
|---|---|
| $2 | At least 99.9% silver |
| $5 | At least 99.9% silver |
| $15 | At least 99.99% gold |
| $15 | At least 99.9% silver |
| $20 | At least 99.99% gold |
| $25 | At least 91.7% gold |
| $25 | At least 99.99% gold |
| $500 | At least 99.99% gold |
| $1 500 | At least 99.99% gold |
| $1 000 000 | At least 99.99% gold |
(2) The standard compositions mentioned in subsection (1) for a denomination are taken to be specified in the Schedule to the Act in addition to any other standard composition or compositions that are, or are taken to be, specified in the Schedule for that denomination immediately before the day on which this Determination commences.
(3) For paragraph 13 (2) (b) of the Act, the Act has effect, on and after the day on which this Determination commences as if:
(a) there were included in the Schedule to the Act, a reference to the denomination ‘$1 000 000’; and
(b) there were specified in the Schedule to the Act, opposite to that denomination, as the standard composition of a coin of that denomination ‘At least 99.99% gold’.
(4) The determination of the standard composition of a coin under subsection (3) is in addition to the determination of the standard composition of coins under subsection (1).
5 Standard weight, variation, dimension and design
(1) For subsection 13A (1) of the Act, on and after the day on which this Determination commences, each item in Part 1 of Schedule 1 specifies, for a coin having the denomination and standard composition mentioned in the item (being a coin whose denomination is specified, or taken to be specified, in the Schedule to the Act):
(a) the coin’s standard weight; and
(b) the allowable variation from that standard weight; and
(c) the coin’s dimensions; and
(d) the coin’s design.
(2) Subsection (1) does not affect any other determination of the standard weight and allowable variation, dimensions or design of a coin, made under subsection 13A (1) of the Act.
6 Design – explanation of symbols
Each item in the table in Part 2 of Schedule 1 explains a symbol used to describe the design of coins in Part 1 of Schedule 1.
Schedule 1
(sections 5 and 6)
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
Currency (Perth Mint) Determination 2010 (No. 1)
as amended
made under paragraphs 13 (2) (a) and subsection 13A (1) of the
Currency Act 1965
This compilation was prepared on 13 October 2010
taking into account amendments up to Currency (Perth Mint) Amendment Determination 2010 (No. 1)
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
1 Name of Determination [see Note 1]
2 Commencement [see Note 1]
3 Definition
4 Specification of denomination and standard composition
5 Standard weight, variation, dimension and design
6 Design – explanation of symbols
Schedule 1
Part 1 Specifications of coins
Part 2 Design of coins — explanation of symbols
Notes
1 Name of Determination [see Note 1]
This Determination is the Currency (Perth Mint) Determination 2010 (No. 1).
2 Commencement [see Note 1]
This Determination commences on the day after it is registered.
3 Definition
In this Determination:
Act means the Currency Act 1965.
4 Specification of denomination and standard composition
(1) For paragraph 13 (2) (a) of the Act, the Act has effect, on and after the day on which this Determination commences, as if the reference in the Schedule to the Act, opposite to the denomination of a coin specified, to the standard composition of coins of that denomination included a reference to the standard composition specified in the table below.
| Denomination of coin | Standard composition |
|---|---|
| $2 | At least 99.9% silver |
| $5 | At least 99.9% silver |
| $15 | At least 99.99% gold |
| $15 | At least 99.9% silver |
| $20 | At least 99.99% gold |
| $25 | At least 91.7% gold |
| $25 | At least 99.99% gold |
Government administrators and regulators: they will rely on the published specifications for enforcement, taxation/valuation consistency, and quality checks. (Sections 4–6.)
Why it matters (practical effects and how it operates)
Legal authorisation and certainty. By specifying denominations, compositions and designs in the Schedule (and by inserting new denominations), the Determination makes particular Perth Mint products formally recognised under the Currency Act. That recognition can affect secondary‑market trust and the use of those coins as legal tender in limited contexts. (Section 4 and Schedule 1.)
Technical production rules. The Determination imposes numerical tolerances (weights, diameters, thickness) that the Mint must meet; non‑conforming pieces could lose the benefit of the specification. This shifts compliance and production cost risk onto the Mint. (Section 5; Schedule 1, Part 1.)
Product differentiation. The list distinguishes bullion finish, proof finish, uncirculated and colour/gilded/stone‑set variants; these are product‑level rules that shape how the Mint positions items (investment bullion vs collector proofs). (Schedule 1, Part 2—design codes O10–O16, R30–R36, etc.)
Concentrated benefit, diffuse cost. The Perth Mint and purchasers of the Mint’s coins directly benefit from clarity and legal status; compliance costs (manufacturing precision, quality control) and any administrative monitoring are borne by the Mint and regulators. Consumers paying market prices ultimately bear the product costs. (Sections 4–6; Schedule 1.)
Official purpose claim and a practical test
The instrument’s stated effect is to give the Currency Act force as if the Schedule contained the listed denominations and compositions, and to specify detailed physical and design parameters so the coins can be produced and recognised. (Sections 4–6.)
Trade‑offs and implementation risks: (a) precise tolerances reduce fraud and increase market confidence but raise minting costs; (b) many high‑value, large‑unit denominations (including 1 kilogram, 1 tonne and $1,000,000 coins) are authorised, which formalises very high‑value legal‑tender pieces but also creates operational, storage and insurance implications for holders; (c) the Determination centralises design control in the State (the executive acting under the Currency Act), so private minters cannot unilaterally produce competing legal‑tender pieces. (See section 4(1)–(3) and Schedule 1.)
Who pays, who decides, and what behaviour changes
Who pays: purchasers of Perth Mint coins (investors, collectors, dealers) purchase at market prices; the Perth Mint pays to meet production standards (manufacturing, finishing, assay); the Commonwealth’s administrative cost to register and publish the Determination is negligible relative to the market. (Sections 4–6 and schedule entries showing tolerances/finishes.)
Who decides: the Determination is made under the Currency Act by the Commonwealth authority empowered by that Act; the Determination itself (and Schedule 1) fixes what the Mint may produce as specified legal‑tender types. (See heading and sections 3–6.)
Behaviour changes: the Perth Mint can produce and market the specified coins with legal certainty; dealers and custodians will price, store and insure products according to the specified weights, purities and finishes; third‑party minters (not covered by the Schedule) remain outside the legal designation the Determination creates.
Other implementation notes and potential frictions
High granularity: the instrument lists many individual items (different denominations, weights and finishes) and bespoke designs; enforcing and policing that catalogue requires straightforward but detailed assay and visual checks. (Schedule 1, Part 1 and Part 2.)
Unit and labelling complexity: the schedule mixes grams, ounces, kilograms, tonnes and several different ways of expressing weight in inscriptions ("Xoz", "Xg", "X KILO"); that creates scope for labelling errors unless manufacturing and packaging controls are tight. (See many Schedule entries and Part 2 design text.)
One‑off and rare features: some designs allow colour or gemstones or gilding; those features complicate authentication and valuation relative to plain bullion. (See Schedule 1, Part 2, multiple R‑entries.)
Reference points in the instrument: sections 4–6 set the legal effects (composition and design), Schedule 1, Part 1 contains the itemised specifications for each coin, and Schedule 1, Part 2 decodes the design symbols (O#, R#, S#, E#).
| $500 | At least 99.99% gold |
| $1 500 | At least 99.99% gold |
| $1 000 000 | At least 99.99% gold |
(2) The standard compositions mentioned in subsection (1) for a denomination are taken to be specified in the Schedule to the Act in addition to any other standard composition or compositions that are, or are taken to be, specified in the Schedule for that denomination immediately before the day on which this Determination commences.
(3) For paragraph 13 (2) (b) of the Act, the Act has effect, on and after the day on which this Determination commences as if:
(a) there were included in the Schedule to the Act, a reference to the denomination ‘$1 000 000’; and
(b) there were specified in the Schedule to the Act, opposite to that denomination, as the standard composition of a coin of that denomination ‘At least 99.99% gold’.
(4) The determination of the standard composition of a coin under subsection (3) is in addition to the determination of the standard composition of coins under subsection (1).
5 Standard weight, variation, dimension and design
(1) For subsection 13A (1) of the Act, on and after the day on which this Determination commences, each item in Part 1 of Schedule 1 specifies, for a coin having the denomination and standard composition mentioned in the item (being a coin whose denomination is specified, or taken to be specified, in the Schedule to the Act):
(a) the coin’s standard weight; and
(b) the allowable variation from that standard weight; and
(c) the coin’s dimensions; and
(d) the coin’s design.
(2) Subsection (1) does not affect any other determination of the standard weight and allowable variation, dimensions or design of a coin, made under subsection 13A (1) of the Act.
6 Design – explanation of symbols
Each item in the table in Part 2 of Schedule 1 explains a symbol used to describe the design of coins in Part 1 of Schedule 1.
Schedule 1
(sections 5 and 6)
Part 1 Specifications of coins
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padding-left:3.55pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.5pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Nominal weight</span></p></td><td rowspan="2" style="width:99.2pt; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.55pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.55pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Standard composition</span></p></td><td rowspan="2" style="width:77.95pt; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.55pt; vertical-align:top"><p style="margin-top:3pt; margin-left:6.8pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Standard weight and allowable variation (g)</span></p></td><td colspan="2" style="width:145.7pt; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.55pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Dimensions</span></p></td><td colspan="4" style="width:162.95pt; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Design</span></p></td></tr><tr style="height:3.75pt"><td style="width:77.95pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.55pt; vertical-align:top"><p style="margin-top:3pt; margin-left:0.85pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Maximum diameter or other dimension specified (mm)</span></p></td><td style="width:60.65pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Maximum thickness (mm)</span></p></td><td style="width:36.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Shape</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Edge</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Obverse</span></p></td><td style="width:34.9pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:8pt; font-weight:bold">Reverse</span></p></td></tr></thead><tbody><tr><td style="width:28.35pt; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:6.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">1</span></p></td><td style="width:63.8pt; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:15.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">$200</span></p></td><td style="width:70.85pt; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.5pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">2 ounces</span></p></td><td style="width:99.2pt; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.55pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">At least 99.99% gold</span></p></td><td style="width:77.95pt; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:6.8pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">62.265 ± 0.050</span></p></td><td style="width:77.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin:3pt 27.4pt 3pt 9.25pt; text-align:right; line-height:10pt"><span style="font-size:9pt">41.10</span></p></td><td style="width:60.65pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin:3pt 25.5pt 3pt 0.2pt; text-indent:-0.2pt; text-align:right; line-height:10pt"><span style="font-size:9pt">3.90</span></p></td><td style="width:36.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">S1</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">E1</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">O1</span></p></td><td style="width:34.9pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">R1</span></p></td></tr><tr><td style="width:28.35pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:6.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">2</span></p></td><td style="width:63.8pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:15.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">$100</span></p></td><td style="width:70.85pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.5pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">1 ounce</span></p></td><td style="width:99.2pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.55pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">At least 99.99% gold</span></p></td><td style="width:77.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:6.8pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">31.162 ± 0.055</span></p></td><td style="width:77.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin:3pt 27.4pt 3pt 9.25pt; text-align:right; line-height:10pt"><span style="font-size:9pt">27.30</span></p></td><td style="width:60.65pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin:3pt 25.5pt 3pt 0.2pt; text-indent:-0.2pt; text-align:right; line-height:10pt"><span style="font-size:9pt">5.00</span></p></td><td style="width:36.95pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">S1</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">E1</span></p></td><td style="width:34.9pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">O1</span></p></td><td style="width:34.9pt; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:center; line-height:10pt"><span style="font-size:9pt">R1</span></p></td></tr><tr><td style="width:28.35pt; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:6.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">3</span></p></td><td style="width:63.8pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-right:15.7pt; margin-bottom:3pt; text-align:right; line-height:10pt"><span style="font-size:9pt">$15</span></p></td><td style="width:70.85pt; border:0.75pt solid #000000; padding-right:3.18pt; padding-left:3.18pt; vertical-align:top"><p style="margin-top:3pt; margin-left:3.5pt; margin-bottom:3pt; line-height:10pt"><span style="font-size:9pt">1/10 ounce</span></p></td><td style="width:99.2pt; border:0.75pt solid #000000; padding-right
This is an opening excerpt, not the complete document.