The Australian dollar is the official currency of Australia, including its external territories: Christmas Island, Cocos Islands, and Norfolk Island. The currency is officially used in the independent Pacific Island states Kiribati, Nauru, and Tuvalu. The official currency symbol: $, A$, AU$.
The Australian dollar was established in 1966 to replace the Australian pound. In 1959, Treasurer Harold Holt appointed a Decimal Currency Committee to discuss the implementation of decimalization. The committee achieved approval in 1960, and the decimalization process was scheduled for February 1966. Holt announced that the new currency would bear the name “real.” The news was met with great public disgust, and three months later, it was declared that it would be renamed “dollar.” The first Australian dollar coins were introduced in denominations of 1, 2, 5, 10, 20, and 50 cents. In 1984, the 1 dollar coin was released, followed by the 2 dollar coin in 1988. Both coins were used to replace banknotes of that denomination.
The 5 Australian cents coin front design features the portrait of Queen Elizabeth II (Queen of the United Kingdom and 15 other commonwealth realms), the name of the country, and the issue date. The reverse of the coin presents an echidna, also known as spiny anteaters, followed by the denomination. This coin is part of the 1985 – 1998 series, its rim is fluted, and its color is silver.
Text: ELIZABETH II AUSTRALIA 2007 IRB 5 SD