Currency (Perth Mint) Determination 2014 (No. 1)

The central legal concept is the specification of a coin under subsection 13A(1) of the Currency Act 1965. That provision allows the Minister (or a delegate) to determine, by legislative instrument, the standard weight, design and dimensions of coins of the Commonwealth. This determination uses a tabular format with 18 items, each corresponding to a unique coin. The table includes the following technical concepts:

Denomination: The face value expressed in Australian dollars or cents (e.g., $500, $200, $30, $25, $15, $1, 50c). The instrument does not alter the face value; it only specifies the physical coin that bears that value.

Standard composition: For gold coins, the requirement is at least 99.99% gold (four nines). For silver coins, at least 99.9% silver. For two $1 coins (items 13 and 14), the composition is aluminium and bronze with no minimum purity stated, meaning it is a base metal alloy. This composition threshold is a minimum; the actual fineness can be higher, but not lower, for compliance.

Standard weight and allowable variation: The standard weight is given in grams, plus a tolerance range. For example, the $30 silver coin (item 8) has a standard weight of 1002.502 g ± 1.500 g, meaning it must weigh between 1001.002 g and 1004.002 g. The tolerance is very tight for high-value gold coins (e.g., the $500 gold coin at ± 0.040 g) and looser for silver coins (e.g., ± 0.500 g for the $1 silver). These tolerances reflect practical minting limits and also serve to prevent underweight coins from circulating.

Dimensions: Maximum diameter (or other dimension for rectangular coins) and maximum thickness are specified. For example, the rectangular $1 silver coin (item 15) has dimensions “47.60x 27.60” (likely meaning 47.60 mm x 27.60 mm) and a maximum thickness of 4.00 mm. The values are maxima; a coin may be slightly smaller in diameter or thinner, but cannot exceed the stated figures.

Shape: S1 denotes circular; S2 denotes rectangular (only item 15).

Edge: Three edge types are defined. E1 is continuously milled (reeded edge). E2 is unmilled with the words “Pride •”, “Respect •” and “Gratitude •” evenly spaced around the edge. E3 is plain (used only on item 15, the rectangular silver coin). Interestingly, items 1, 7, 8, 14, 16, 18 use E1, while items 2-6, 9-13, 17 use E2. Item 15 uses E3 (plain). The edge inscription is part of the coin’s legal specification.

Obverse designs (O1 to O10): All obverse designs feature an effigy of Queen Elizabeth II, but the surrounding inscriptions vary. Some include the year (2014, 2015, 2017), the denomination in words, the fine weight and fineness in ounces (e.g., “1/4oz 9999 GOLD”), and the artist’s initials “IRB”. The obverse for the $30 coin (O4) uses centred bullet points and omits the fineness. O10 is notable for its design “consisting of a circle which surrounds an effigy of Queen Elizabeth II” with additional text.

Reverse designs (R1 to R18): Each describes a specific pictorial or commemorative design. Many are World War I Anzac themed with coloured representations of poppies, soldiers, ships, and inscriptions such as “1914 ~ “To Our Last Man and our Last Shilling””. R1, R2, R8, R9, R15, R18 are noted as “in a proof finish” while R16 and R17 are “in a bullion finish”. R13 and R14 do not specify a finish in the description (though R14 is a reprint of the R2 design without the colour poppy). The instrument does not define “proof finish” or “bullion finish”; these are industry standards that the Perth Mint is expected to follow.

The primary entity affected is the Perth Mint itself. As the only mint permitted to produce coinage under this determination, it must adjust its production, quality assurance, and inventory systems to ensure each coin matches the exact specifications. This includes sourcing the correct precious metal purity, striking to weight within the allowable variation, controlling edge details, and applying coloured features where required. The Mint’s compliance obligations are ongoing: every coin issued under this determination must be verifiable against the table. Failure to do so could result in coins not being legal tender, which could harm the Mint’s reputation and lead to financial losses if coins must be recalled or remelted.

Collectors and investors are indirectly affected because the determination confers legal tender status on these coins, which often enhances their marketability and legal protection against counterfeiting. The high gold and silver content makes the coins valuable as bullion, while the limited commemorative designs create numismatic demand. For example, a $1 silver coin containing one troy ounce of silver has a melt value far above $1, so the legal tender status is a secondary feature. Investors need to know that the determination guarantees the fineness only on a minimum basis; the Mint may produce coins with higher purity if it chooses, but the specification sets the floor.

The Reserve Bank of Australia and the Treasury are affected as regulators. The determination adds to the stock of legal tender coins, which may need to be recorded for monetary base purposes, though in practice these coins are not used in circulation. The Treasury must ensure the instrument is properly registered and available for public scrutiny under the Legislation Act 2003.

The general public can use these coins as legal tender for debts up to the usual limits under the Currency Act (for silver coins, the limit is $5 for 50c coins and $10 for $1 coins, though the actual value of the metal will be much higher, so rational actors will not tender them). Merchants are not required to accept them for large amounts, but if they do, they must accept the face value.

Finally, dealers and online retailers who sell these coins to the public must ensure they do not misrepresent the specifications. If a coin is sold as “2014 $1 Perth Mint silver koala” but does not match the R17 design exactly, the seller could face action under the Australian Consumer Law for misleading conduct. The determination provides an objective benchmark.

The determination imposes a clear duty on the Perth Mint: to mint each coin listed in Schedule 1 strictly in accordance with the specified standard weight, allowable variation, composition, dimensions, shape, edge, obverse and reverse designs. Section 5(2) states that on and after the commencement date, each item specifies those attributes. There is no discretion for the Mint to deviate. The duty is ongoing for each coin produced. The Mint also has the right to continue minting coins under other determinations (section 5(4)), and nothing in this instrument prevents it from applying to the Treasury for further determinations.

The public has the right to tender these coins as legal tender, subject to the limits set out in the Currency Act. For coins with a face value of $1 or less, the legal tender limit for silver coins is $5 per transaction; for base metal coins it is the same. High denomination gold coins (e.g., $200, $500) likely have no practical limit because they are not covered by the deeming provisions for small coins, but the Act as a whole does not limit legal tender for gold coins. However, businesses are not obliged to accept any form of legal tender if they have not agreed to it; the right is a right of the debtor to offer lawful money.

The Treasury has no explicit duties under this determination, but it has the backstop power under the Currency Act to direct the Mint or to vary or revoke the determination. No review or reporting requirements are imposed by the instrument itself. The determination also confers no private rights of action; a person who receives a non-compliant coin cannot sue under this determination, but may have other remedies under contract law or the ACL.

The determination does not grant the Perth Mint any exclusive right to mint these particular designs; other authorised mints could be added via a different determination, but as a matter of practice, the Perth Mint has the exclusive Commonwealth licence to mint precious metal coins. The minting rights are derivative of the Currency Act and the agreement between the Commonwealth and the Mint.

The determination itself contains no penalty provisions. Enforcement relies on the underlying Currency Act 1965 and other applicable laws. If the Perth Mint produces a coin that does not meet the standard weight, composition, or design, that coin is not a coin under subsection 13A(1) and therefore not legal tender. The Mint could be required to recall or withdraw such coins, potentially causing reputational damage and financial loss. More seriously, if the Mint knowingly issued non-compliant coins intending to deceive, it could face criminal penalties under the Crimes Act 1914 (e.g., fraud) or under the Competition and Consumer Act 2010 (misleading conduct). The Currency Act itself imposes penalties for counterfeiting or altering coins; for instance, section 21 makes it an offence to counterfeit coins or mutilate them. However, the Mint’s failure to follow specifications is unlikely to be treated as counterfeiting because the Mint is the legitimate producer.

The Treasury has the authority to revoke or amend the determination if compliance issues arise. If a particular coin type is found consistently to be outside tolerances, the Treasury could vary the specifications to reflect actual minting capability, or revoke the designation for that coin. In practice, disputes would likely be resolved through administrative oversight rather than litigation.

For third parties, selling coins that are fraudulently labelled as being under this determination when they are not could attract penalties under the Criminal Code for counterfeiting or under the ACL for false or misleading representations. The Australian Securities and Investments Commission or the Australian Competition and Consumer Commission could take enforcement action. The maximum penalties under the ACL can be up to $10 million for corporations, so the stakes are significant.

The determination does not create a private enforcement mechanism. A person who buys a coin that fails to meet the specifications cannot sue for breach of this instrument; their recourse would be against the seller for breach of contract or under consumer guarantees. However, an aggrieved competitor (e.g., a rival bullion dealer) could potentially seek an injunction if the Mint’s non-compliance causes competitive harm, though this would be an unusual use of administrative law.

This determination is a creature of the Currency Act 1965, specifically subsection 13A(1). It sits within a framework that includes the Act itself, which defines legal tender, provides for the minting of coins, and sets out offences. The determination does not amend the Act; it merely exercises a power under it. Consequently, all the Act’s provisions regarding legal tender limits, the Secretary’s powers, and counterfeit offences apply to these coins in the same way as to any other coin.

The determination also interacts with the Reserve Bank Act 1959, which governs Australia’s currency system. The Reserve Bank is responsible for note issuance, but coin issuance is a Commonwealth function delegated to the Treasury and the Perth Mint. There is no conflict because the determination covers only coinage.

The Australian Consumer Law (Sch 2 to the Competition and Consumer Act 2010) applies to the sale of these coins as goods. The determination provides an objective standard for what constitutes a “2014 Perth Mint $1 silver koala coin”. If a seller describes a coin as such but it lacks the specified reverse design R17, the seller may breach the consumer guarantee of due care and skill or make a false representation. The determination can be used as evidence in a consumer dispute.

For tax purposes, the Australian Taxation Office treats these coins as legal tender. Transactions involving them may be subject to goods and services tax if the coin is sold for its metal content rather than as a collector’s item, but the determination itself does not alter tax law. Precious metal coins are generally input-taxed for GST if they are legal tender, but that depends on the A New Tax System (Goods and Services Tax) Act 1999.

The instrument does not affect any state or territory laws. It is a Commonwealth instrument and operates uniformly across Australia.

Importantly, section 5(4) states that this determination does not affect any other determination under the same subsection. This means the Perth Mint can have multiple coin series operating concurrently. For example, a 2013 determination for a different set of commemorative coins would remain in force. This avoids any implied repeal or conflict.

The determination also interacts with the autonomous laws of the Perth Mint’s contractual obligations with the Commonwealth. The minting agreement between the Mint and the Commonwealth likely incorporates compliance with all such determinations.

The source text provides the original instrument as made on 6 March 2014 by the Parliamentary Secretary to the Treasurer. There is no indication of any amendment to this determination in the text supplied. The instrument is labelled “No. 1”, suggesting it is the first such determination for the calendar year 2014. Subsequent determinations may have been made in the same year or later years, but they are not part of this instrument. Because the determination is a legislative instrument, any amendments would be made by a later determination that would be registered and publicly available on the Federal Register of Legislation and would clearly state that it amends the 2014 determination. Without access to the register, a reader cannot confirm whether any amendments exist. It is possible that the specifications for some coins were later varied to correct errors (e.g., if the obverse year needed to change) but no such variation is documented in the provided text. The instrument itself has no sunset clause; currency determinations remain in force until repealed or superseded. The note accompanying the table in Schedule 1 states “See section 5”, which is standard drafting. The instrument was signed on 6 March 2014 and commenced the day after registration. The exact date of registration is not given, but the Commonwealth register would record it.

The source text contains no mention of any litigation concerning this determination. This is unsurprising. Currency determinations are highly technical instruments that specify physical attributes of coins. They are unlikely to be challenged in court because they impose no substantive legal obligations on private parties and because the Perth Mint has a strong incentive to comply. Any dispute would likely arise from a commercial context, such as a buyer claiming a coin was not as described. The determination could be used as evidence in such litigation, but the instrument itself would not be the subject of a judicial review application. There is no reported case law that refers to this specific determination (as of the knowledge cut-off). The only potential litigation would be if the Minister’s power under s13A(1) was exceeded, but the coins listed are all within the ordinary scope of that power. The determination does not create a cause of action. Therefore, the litigation history is essentially nil. If a person were to sue the Mint for issuing a defective coin, the claim would be in tort or contract, not under this instrument. The determination would be a benchmark but not the source of the duty. The Administrative Decisions (Judicial Review) Act 1977 could potentially allow a person aggrieved to challenge the determination on grounds such as procedural error, but the determination is a legislative instrument, and review of such instruments is limited. No such application has been recorded in the material provided.

Several features of the determination merit careful attention. First, each coin’s reverse design includes very specific details that must be reproduced exactly. For example, reverse R1 includes the text “1914 ~ “To Our Last Man and our Last Shilling”” with the tilde and quotation marks. A coin missing the tilde or using a different punctuation mark would not be compliant. Similarly, the placement of coloured representations (e.g., the poppy on R1) is part of the design; a coin that omits the colour or uses a different shade might be non-compliant. The instrument does not define what “coloured” means in terms of fastness or durability; a coloured poppy that fades after circulation may still technically be a coloured representation at the point of issue.

Second, the edge inscriptions on E2 coins include three words with centre dots: “Pride •”, “Respect •”, “Gratitude •”. The dots are specified and must be evenly spaced. If the Mint produces a coin with the words in a different order or with a bullet point instead of a dot, the edge is non-compliant.

Third, the allowable weight variation is tight for gold coins. The $500 gold coin (item 18) has a tolerance of only ±0.040 g on a 155.563 g standard. That is a relative tolerance of about 0.026%. Manufacturing such a coin requires extremely precise control. If a single coin falls outside this range, it is not a coin under the determination, even if the mint run to finish is on average correct. This imposes a strict liability standard on the Mint.

Fourth, the determination does not specify a minimum mintage or any limit on the number of coins that can be produced. The Perth Mint could produce unlimited quantities of these coin types, subject only to practical and commercial constraints. This could affect scarcity and secondary market prices.

Fifth, the term “proof finish” is used for many designs (R1, R2, R8, R9, R15, R18) and “bullion finish” for R16 and R17. These terms are not defined in the instrument. In the numismatic industry, a proof finish involves multiple striking with polished dies, giving a mirror-like background. A bullion finish is a standard circulation finish. Without legal definitions, a dispute could arise about whether a coin has the required finish. The Mint would likely rely on its own internal standards, but if a consumer argues that a coin is not proof because of hairlines or spotting, the determination offers no textual help.

Sixth, the obverse designs include the year. For O1 and O7 the year is 2014; for O2, O3, O4, O5, O6 the year is 2015; for O8 the year is 2017. This means the determination authorises coins dated in the future relative to the instrument’s date (e.g., 2015 and 2017). No issue arises because the determination is in force, but it shows that the coin’s date does not need to match the year of minting.

Seventh, the rectangular silver coin (item 15) has a maximum dimension of 47.60 mm x 27.60 mm, but the oval shape? No, it’s rectangular (shape S2). The edge is plain (E3). The obverse and reverse are O8 and R15 respectively. The reverse includes a coloured YMCA logo. This coin is likely a non-circulating legal tender collectable. Its rectangular shape may make it more difficult to authenticate or weigh, but the determination gives its legal status.

Finally, the instrument does not address what happens if the Perth Mint is unable to source the required purity (e.g., 99.99% gold supply shortage). The only option would be to suspend production, because any coin with lower purity would violate the determination.

Compliance with this determination is primarily the responsibility of the Perth Mint, but other parties also need to be aware of the specifications. For the Mint, the compliance pathway includes the following steps.

First, the Mint must ensure that each batch of coinage meets the standard composition. For gold coins, the metal must assay at 99.99% gold minimum. For silver coins, 99.9% silver minimum. For the aluminium-bronze coins, the alloy must be within the unspecified commercial standard. The Mint should maintain assay certificates and lot-level records.

Second, weight compliance requires each coin to fall within the allowable variation. The Mint must calibrate presses and check coins using high-precision scales. Statistical sampling may be used, but the determination does not explicitly allow for average compliance; each individual coin must meet the tolerance. In practice, the Mint will use a rejection threshold well within the bounds to ensure no coin escapes outside the variation.

Third, dimensional compliance: diameter and thickness must not exceed the maxima. For rectangular coins, both the length and width are maxima. The Mint should use go/no-go gauges.

Fourth, design compliance: the obverse and reverse must exactly match the description. The Mint must maintain master dies and hubs that reproduce every detail, including the exact wording, style (e.g., “1914 ~ “To Our Last Man and our Last Shilling”” with the tilde and double quotes), and colour placement. For coloured coins, the Mint must apply colour in a way that matches the description of a “coloured representation” of a poppy or other element. The colour may be applied by pad printing or other process, but must be present and reasonably consistent. The edge inscription for E2 coins must read “Pride •”, “Respect •”, “Gratitude •” evenly spaced around the edge. The Mint must verify the edge text and spacing.

Fifth, the Mint should label and certify that each coin product complies with this determination. The coin’s packaging or certificate should reference the determination. This is not required by the instrument but is prudent for consumer confidence.

For dealers and sellers, compliance means not misrepresenting a coin as being under this determination if it is not. They should obtain coins only from the Perth Mint or authorised distributors. They should educate staff on the specifications to avoid inadvertent misdescriptions. If a customer returns a coin claiming non-compliance, the dealer should compare it with the specifications in the determination. Any deviation should be reported to the Mint.

The Treasury does not have ongoing compliance duties, but if it receives reports of systematic non-compliance, it could investigate and potentially amend or revoke the determination. The Treasury should also ensure the instrument is accessible on the Federal Register of Legislation and that any subsequent amendment is properly made.

For consumers, compliance is passive. However, a consumer who suspects a coin does not meet the specifications can use the determination as a reference when negotiating a refund or filing a complaint with the ACCC. The consumer could also request assay or weight verification from an independent laboratory. Because the determination is public, any person can verify a coin’s claimed weight and dimensions against the table.